Blockchain. It’s hard to hear the word and not immediately think of Bitcoin. However, Blockchain, (the technology behind Bitcoin) is being hyped as the “next big thing” and touted to have as big or bigger an impact on business and society as the dawn of the Internet.
That being said, a majority of individuals and businesses lack a profound understanding with regard to what Blockchain is – and how it will involve or affect them in the future.
Enter MAX Technical Training and the Queen City Angels. Together, we delivered a Blockchain Information Session to familiarize business-minded individuals with the overarching concepts of Blockchain in order to understand business-use cases.
The roughly two-hour event was held at 84.51 in downtown Cincinnati. About 20 C level executives and business professionals were invited to the forum, where Mark Dawes and Stefan Kyntchev (among others) presented enlightening information regarding the technology.
“Blockchain is about trust,” Stefan said at the event.
Specifically, the lack thereof in the market, which Blockchain attempts to solve through technology.
The representatives from QCA went into depth about Blockchain as a disruptor, and the goal was to inform key business executives in the Cincinnati area in order to be ahead of the curve.
Cincinnati has become a strong tech hub in the Midwest. There are at least four different Blockchain focused groups operating in the area, along with companies such as 10XTS, and a robust startup environment powered backed by more Fortune companies per capita than any other city in the Midwest. In fact, about 30% of all Fortune 500 companies are located in the Midwest.
In addition to the big names expanding their local IT divisions, startups in the region are increasing exponentially.
In 2016, 210 new startups in Ohio received $470 million in venture capital funds. REDI (Regional Economic Development Initiative) Cincinnati reported a total of $1.22 billion of total capital investment in Cincinnati, along with 7,647 new jobs for 2015. Forbes called Cincinnati a “hotbed of entrepreneurial growth,” and Area Development (as of 2015), called Ohio the 9th best state in the US for doing business.
QCA and MAX Technical Training are attempting to harness that innovative spirit, entrepreneurialism, and professional business acumen to encourage innovation and forward-thinking business practices.
“We want to continue to drive economic development and job growth via the existing Fortune 1000 companies to the startups,” said President and CEO of MAX, Denise Bartick.
While there is still much education that needs to occur, this was a solid foot forward in an environment that is new and exciting, but challenging. Think of the dawn of the Internet age, and all the opportunity that was created, especially in the eCommerce arena. Blockchain could be that next bubble, and QCA and MAX want to make sure Cincinnati is leading the charge.
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