The European Union Chamber of Commerce in China (EUCCC), organized a conference on the impact of blockchain on business, inviting top personnel from around, including the Chief Operating Officer at VeChain, Kevin Feng, to discuss and share their experience on blockchain technology and its application in businesses.

According to a release published by EUCCC on its official website, the event titled “Blockchain as A Crucial Breakthrough, what does that mean and how does it work for your business in practice?” took place yesterday at European Chamber Shanghai Office, Unit 2204, between the hours of 09:00 – 11:00 (GMT+8).

EUCCC stated that it was elated to have Kevin Feng present at the event. Alongside Feng, the Director at SAP Labs, Phipps Xue was also present. The two individuals were saddled with the responsibility of discussing Blockchain explicitly for better understanding.

The duo also did justice to questions like what does blockchain mean to China business? What are the novel opportunities and challenges of the technology? How do companies like Coca Cola and Walmart use the technology for their practices and what can be discovered from the companies’ activities?

The European Union Chamber of Commerce in China revealed that it organized the event in relation to the endorsement and support given to blockchain technology by President Xi.

EUCCC said there are still a number of impending factors faced by blockchain, which are beyond technical problems. EUCCC furthered that, however, blockchain has been adopted in some Chinese sectors like “digital finance, Internet of Things, smart manufacturing, supply chain management and digital asset trading.”

Other speakers at the event includes Grace Yao, the Vice-Chair of the European Chamber’s Marketing and Communication forum and Senior manager, European Business Group, PwC, and Mr. Chun Yin Cheung, Partner in Risk Assurance Practice at PwC, China.

Yao gave the opening remark and Cheung, the key Blockchain driver at PwC, spoke on “Real Life Blockchain Applications in China.”

The event which hosted other top participants from around the world also ended with a closing remark from Grace Yao.