Make fashion, not blockchain … please

8 Feb. 2018

Stocks of Long Island Iced Tea Corp. have gained more than 500% after the company was renamed as Long Blockchain Corp. Of course, they didn’t have any connection to the blockchain. After world cryptocommunity had disclosed this incredible PR move shares price fell down tremendously. However, it remained higher than it was before the rebranding.

Mercedes Fashion Conference decided to rename itself as Blockchain Fashion Conference, but lightning never strikes twice. The attendees had no chance to learn more about possibilities of blockchain implementation in the fashion industry. Instead, they were listening to some speeches regarding fashion and blockchain but without any connection between these fields.  It looked like a salad bowl with meat and ice cream at the same time. Low attendance and poor understanding of the crypto industry both failed the event, turning it into an absolute disaster.

What do you guys think about using blockchain in the fashion industry? I, for instance, imagine a service that allows verifying the exclusivity of top-brand clothes. At this conference, a fashion coin was advertised that would supposedly give an opportunity for young designers to compete with sharks of this market and make their own name. Unfortunately, it was never mentioned during the event.

The first block of the conference was timed to a round-table discussion about regulations of cryptocurrency. Truly, it may have been the best moment of this conference. Even though the speakers still didn’t try to find a connection with fashion, this part brought together the  representatives of the Ukrainian government, lawyers and miners to talk about the future of the blockchain sphere. It revealed that heads of Ukrainian economical departments are acquainted neither with the basics of blockchain nor with cryptocurrency and KYC principles.

Thereafter, the conference lost its structure at all. Speakers were divided into two groups. The first one presented their blockchain-based projects such as Verge, NKOR and Taler, the other one was speaking about trends in fashion. The event didn’t manage to initiate a cooperation between these two spheres. It was obvious that the audience was totally separated. Stylish women were bored, when someone was talking about mining software. Crypto enthusiasts didn’t feel interested in buying new skirts from fashion shows. It looked weird and didn’t bring any positive results neither to speakers nor to visitors.

I call events like this a crypto-circus. People that are not really experts are trying to make money from the hype by tricking newcomers. Regrettably, a person who decided to visit a blockchain conference for the first time can get disappointed in blockchain after such an experience. Don’t be cheated! Keep your eyes open with Byzantium.