On February 25th, Alin Iftemi, Head of Modex, was one of the speakers at a blockchain-focused event held at Impact Hub Bucharest. Organized by Spherik Accelerator, “The after-hype reality of Blockchain in Romania” aimed to offer some clear insights on where the blockchain market stands now and what the future holds.

In the framework of the B-Hub for Europe project, Spherik Accelerator gathered some of the most well-known Romanian blockchain experts to discuss the state of blockchain industry and which are the next steps that need to be taken. The hype surrounding the blockchain technology is slowly fading away, leaving room for a more down-to-earth approach and some actual useful use-cases. This, in turn, has opened a new conversation about regulations and legal frameworks. 

In recent years, the European Commission has been active in setting up Proof of Concepts, Pilot Projects and EU initiatives to explore, test and understand legal, regulatory, policy, research and funding needs related to blockchain and Distributed Ledger Technologies. Some European Union countries have made tremendous steps in this direction, as well. Romania is still lagging behind though, even if we do have quite a vibrant blockchain community. With this in mind, the speakers highlighted the opportunities that lie ahead, but also the challenges which need to be overcome.

About B-HUB for Europe

B-HUB for Europe is an EU-funded project under the H2020 Startup Europe initiative aimed at discovering high-potential innovations in the blockchain technology domain, shaping suited and effective proof of concepts and business models, providing acceleration services and specialized support to startups to overcome current market barriers. Also, B-HUB for Europe aims to assist the go-to-market process, unlocking new market channels with potential customers in the private and public sector, scaling up innovative businesses by creating strong links, synergies and collaboration patterns across 5 startups ecosystems in Italy, France, Germany, Lithuania, and Romania. 

The project will stimulate blockchain applications in various sectors from health to food, energy, finance, and fashion to transform high-performing distributed chains to the final beneficiaries with the highest efficient impact. The project started in January 2020 and will close after 24 months.

About Modex and Modex BCDB

Modex is promoting the adoption of blockchain and strongly believes in a future built around this technology. Modex offers fully integrated services designed to solve the last mile adoption problem of the blockchain and aims to make blockchain user-friendly for every single device or person. At Modex, we can innovate thanks to our incredible team of experts and we offer services for the entire blockchain technology ecosystem: Marketplace for Smart Contracts, community tools for developers and blockchain as database services for enterprises.  

In over two years, using cutting-edge technologies and with a clear strategy, Modex has evolved from the world’s first app store for blockchain into a complex ecosystem designed for developers’ needs and enterprises looking for blockchain solutions. Our mission is to spread and facilitate the adoption of blockchain into society and to solve real-world problems using this revolutionary technology.

Modex BCDB is a new take on blockchain technology which removes the need to invest resources in blockchain training and facilitates fast adoption of the technology in businesses. The solution proposed by Modex is a middleware that fuses a blockchain with a database to create a structure which is easy to use and understand by developers with no prior knowledge in blockchain development. As a result, any developer who knows to work with a database system can operate with our solution, without needing to change their programming style or learn blockchain. Through our blockchain component, Modex BCDB is able to transform with minimal changes any type of database into a decentralized database which holds the same valuable characteristics inherent to blockchain technology: transparency, increased security, data immutability, and integrity.