The globe’s major organizations, including Nasdaq, IBM, Microsoft and American Express, are expected to take part in the upcoming blockchain event in New York.

Conference and event organizer Infocast is planning to hold the first Blockchain World Congress between September 13 and 14. The event will bring together the world’s leading financial and technology companies, as well as regulators, investors, and software developers.

The list of participants includes major banks, such as American Express, Deutsche Bank and BBVA Compass. Also, it will feature representatives from advisory services provider ERNST & YOUNG, bitcoin wallet BitGo, social network service Hub Culture, technology distributor D&H, software and business solutions provider Geli, and telecommunications services provider Verizon Wireless.

The distributed ledger technology is set to transform the financial industry and change the way banks conduct global payments. Moreover, it holds the potential to change other sectors, such as retail, healthcare, agriculture, legal, and logistics.

The globe’s leading organizations began exploring the possible applications of the blockchain system.  Meantime, the world investment in the technology is continuously growing as well. As of the first quarter of 2016, the investment in bitcoin and blockchain companies surpassed $1 billion.

But despite its rapid development, the technology is still in its early stages. There are a lot of challenges associated with the blockchain implementation. To integrate the technology, companies will have to significantly improve or even replace their existing systems.  Moreover, there is still a lack of trust in the technology among the consumers.

The Blockchain World Congress will focus on the blokchain technology, its potential use cases and impact on the global economy. The speakers will discuss the main risks of blockchain adoption for financial organizations and cover the benefits of using the technology, including increased transparency, higher efficiency and lower costs. Besides, they will analyze the potential challenges of its widespread usage, from scalability issues to the lack of appropriate regulation.

The two-day event will feature presentations from a wide range of speakers, such as Michael Harte, COO & CTO at Barclays, Brad Peterson, EVP & CIO at American Express, Nitin Gaur, Director at IBM Blockchain Labs, Meltem Demirors, Director of Digital Currency Group, Chris Ballinger, CFO and Chief Officer at Toyota Financial Services, and Judd Bagley, Director of Communications at T0/OVERSTOCK.COM.

The other presenters include Citi’s global chief economist, Willem Buiter, President of International Blockchain Real Estate Association (IBREA), Ragnar Lifthrasir, Chairman of The Wall Street Blockchain Alliance, Ron Quaranta, e-Residency Managing Director at Enterprise Estonia, Kaspar Korjus, and Techstars Managing Director, Jenny Fielding.

The Blockchain World Congress will take place at the Millenium Broadway Hotel in New York, NY.

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