Legal

International growth for blockchain leader

By Sintons LLP
February 2019

A growing business which delivers e-learning about blockchain is operating internationally after winning key clients through its early involvement with the emerging technology.

Blocknorth is one of only a handful of blockchain experts in the North East, and has become a key name in delivering training and online CPD-accredited learning to businesses in the fast-growing area, which is predicted to see huge global development in the near future.

And the Newcastle-based business is forecasting expansion on the back of the growth in blockchain – which streamlines the management of data and utilises powerful cryptographic security – with Blocknorth already being a leader in the field through becoming involved with the emerging phenomenon over a year ago.

Blocknorth is predicting significant growth among its target sectors – financial services, law, insurance, construction and engineering, and oil and energy – as the many benefits of blockchain (and distributed ledger technology more widely) become more widely understood.

Blocknorth recently announced the formation of a key strategic partnership with Syscoin, a high profile open-source blockchain platform and cryptocurrency with a market capitalisation of over $20million. Syscoin will gain access to a growing roster of professional clients in traditional marketplaces, and Blocknorth has access to cutting-edge blockchain development resources.

Alongside its growing regional, national and international client list and a continually developing programme of e-learning, Blocknorth is also making strong links with education providers. The company is set to launch a blockchain workshop programme in collaboration with training company MTC, as well as commissioning a significant research project with Newcastle University Business School to help establish the scale of the potential of the technology.

To help showcase the relevance of blockchain for businesses, Blocknorth recently held the first interactive Block Party event, in conjunction with TusPark Barclay Eagle Labs. These events allow businesses working in the North East and from elsewhere in the UK in the field of blockchain to come together and share their experiences of the practical application of the technology. The event was attended by London-based Gospel Technology, a leading software company in the enterprise blockchain space who have just raised significant investment funding. Engineering company QEM Solutions were also in attendance at the event, revealing an exciting new strategic partnership with Blocknorth to bring their own blockchain product to market.

Gordon Dodd, chief strategy officer at Blocknorth, said blockchain’s benefits are still unknown to the vast majority of businesses.

“The response to Blocknorth has been excellent and businesses are very receptive, but still it remains the case that awareness of blockchain is not widespread. We are on this wonderful journey and we are pleased that businesses are seeing for themselves how blockchain can help them. It can play a very important role in increasing sophistication of data management, and can be invaluable in terms of secure paperless storage. That is why this can be so relevant and important for the likes of the manufacturing sector (supply chain) and financial sectors (Know Your Customer checks), among many others,” he said.

“While there is a growing excitement about blockchain and the fact it is an emerging technology, the importance it plays in business performance is fundamentally what it is about. We want to work with businesses so they can experience the benefits of blockchain for themselves, and educate employees with our interactive learning platform.”

Blocknorth is working with law firm Sintons, with leading specialist tech lawyer Lucy Carlin being the lead advisor to the business.

Lucy, senior associate at Sintons, said: “In a recent report, the World Economic Forum claimed that distributed ledger technology (such as blockchain) may generate as much as $1 trillion for the global economy by 2025 with the main beneficiaries likely to be SMEs. Blocknorth is leading the way by demystifying the technology and driving conversations about the real-world applications of this emerging technology.

“Blocknorth is a business with great potential, and with the team’s continual innovation and forward-thinking outlook, is very well placed to take advantage of the many opportunities emerging technologies, including blockchain, will undoubtedly present in the years ahead and to help its clients take advantage of those opportunities.”

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