Prof. Dr Philipp Sandner is the most influential German blockchain scientist and founder of the Frankfurt School Blockchain Center (FSBC). From 2018 to 2020, he was ranked as one of the “top 30” economists by the Frankfurter Allgemeine Zeitung (FAZ), a major newspaper in Germany. Further, he belonged to the “Top 40 under 40” — a ranking by the German business magazine Capital. Since 2017, he has been a member of the FinTech Council of the Federal Ministry of Finance in Germany. He is also on the Board of Directors of Avaloq Ventures and of the Blockchain Founders Group, a Liechtenstein-based venture capital company focusing on blockchain startups. The expertise of Prof. Sandner includes blockchain technology in general, crypto-assets such as Bitcoin and Ethereum, the digital programmable Euro, tokenization of assets and rights and digital identity. His groundbreaking research is substantial for the German blockchain strategy and he is a famous voice for the advantages of blockchain in the media. We asked Philipp some interesting questions about the future and got proficient and great answers.
How do you think blockchain is impacting society?
Blockchain technology has enabled entirely new business models and is capable of facilitating, securing and accelerating processes of all kinds in our everyday lives. Whether in healthcare, finance or state services – it will be the underlying driver for many critical interactions and give people back control over their data. In many cases, this will happen completely unnoticed by the end-user, just like now where you do not know which tech stack or cloud service an app is running on.
How do you think the financial sector will develop over the next few years?
The rise of new technologies such as blockchain, machine learning, and cloud computing has resulted in fintechs that have already caused a degree of disruption in the banking and financial services industry. New technology is both a great opportunity and also a disruptive threat. Players in the financial sector that do not embrace it will eventually have problems surviving in the long term. As far as the impact of blockchain is considered, we will see major changes, especially in payments and securities trading. Transactions can be made faster, more secure and, above all, more cost-efficient. However, business processes along various securities transactions would have to be completely restructured and realigned. Inevitably, this means that some companies will disappear.
What will the world in ten years look like?
The value created in the digital age has been highly concentrated and asymmetrically distributed. For example, we have this great wealth of data that has been created by us, and still we do not own it. Sometimes it is even used against us. I believe in ten years we will see a more prosperous and egalitarian world, where people have control over their own data and participate more in the value they create. A true peer-to-peer exchange of value will have much more impact on our society than we can imagine.
What motivates you to be a speaker at the BLOCKCHANCE conference?
Blockchance pursues a unique, holistic focus on blockchain technology and thus attracts many interesting people with very different backgrounds. Bringing these people together and creating a fruitful discourse is immensely important in preparing society for change and setting the right course for the future at an early stage. I believe very much in this mission and am happy to be part of it.
Philipp Sandner is a highly experienced and inspiring person, especially in the universe of blockchain technology in general, crypto-assets, the digital programmable Euro, tokenization of assets and rights, and digital identity. Meet him at the upcoming BLOCKCHANCE Europe 2021 conference, where he will hold a keynote speech on the universe of crypto funds! Get your ticket here and join the BLOCKCHANCE community in a deep dive into the universe of future technologies. Philipp also participated in our BLOCKCHANCE Online LIVE show, where he gave his opinion on CBDC (central bank digital currency). Watch the full recording on YouTube here or read the findings article in our blog here and take a deep dive into the topic.