Tag Archives: blockchain uae

06 Sep 2017

ICO, Banking, Energy, Healthcare, Retail and E-Gov as the Blockchain Trendiest Areas to be Discussed at Blockchain Conference Abu Dhabi

The Blockchain industry has been developing more rapidly than the boldest forecasts predicted. Having become an integral part of the financial and banking spheres, it has already occupying its niche in medicine, insurance, document circulation, energy, retail and other economy spheres. Today, the Blockchain is blooming. However, it is worth knowing what we may expect from the technology in the next 6-9 months.

On December 7, 2017, Abu Dhabi will host for the second time the main Blockchain conference of the MENA region – Blockchain Conference Abu Dhabi (BConference), which will bring together representatives of the Blockchain industry from around the world to talk about their successful experience of using the technology in the most relevant areas for the region.

The key topics of the BConference Abu Dhabi 2017 include:

  1. The most innovative technology of our time: Up-to-date information on the crypto-currencies and Blockchain

The crypto-currency market capitalization has approached the $ 143 trillion mark in 2017. Governments, investors and business are actively developing plans on using the Blockchain to enter the list of the most technologically advanced countries in the world. For example, in October 2016, the authorities of the largest city in the UAE, Dubai, announced the launch of a Blockchain strategy to become the first city operating on the Blockchain technology by 2020.

One of the BConference panel will be devoted to the preliminary issues on the crypto-currency and Blockchain market review, the possibilities of their use within the country and beyond its borders, the analysis of successfully implemented cases. In addition, the participants will get acquainted with the projections and prospects for the Blockchain development in the Middle East Region.

  1. Financial sector: How may the Blockchain improve the financial international payments and banking transactions at all levels?

Researchers from the British HR agency Robert Half Financial Services have found that 52% of the world’s financial services companies plan to implement the Blockchain as it facilitates transactions, increases their speed and reduces the costs for the parties. According to the study of the TABB group, the Blockchain will enter the daily life of all financial companies by 2026.

  1. Logistics: Control over the goods import and export around the globe

The world commerce volume, excluding oil, in the emirate of Dubai in the first 2 quarters of 2017 has amounted to approximately $ 259 billion, which makes it a major trade hub connecting the markets of Asia, Africa and Europe. The Blockchain or the distributed ledger technology will reduce the amount of customs documentation accompanying all movements of goods and will allow their suppliers and recipients to track all processes and the compliance with the terms and conditions of supply contracts in real time. The authorities of the emirate together with IBM and a number of other companies are already working on the creation of such Blockchain platform.

  1. Energy: Reducing costs in the energy market

The Blockchain has already been successfully used to exchange surplus solar energy in the US and Australia, where full-fledged virtual exchanges have been created for this purpose. In the experts’ opinion, a decentralized approach in the energy market will make it possible to significantly reduce costs not only by eliminating intermediaries in the energy market but also by using local energy exchange as needed. It is most likely that the Blockchain will become a means of updating and improving existing centralized energy systems as well as create a mixed distributed system where both large power plants and micro networks will participate.

  1. Healthcare: Modernization of healthcare systems

The decentralized data transmission system has already been actively used for the purpose of technological modernization of the healthcare system. The study of the Blockchain technology potential is carried out in terms of its use in the diverse medical administration starting from the basic client data commit process and ending with the monitor of the development and treatment of the patients’ diseases.

  1. Investment raising: ICO boom

The initial coin offering (ICO) is challenging some other ways of the fund raising. In 2017, the start-ups have already raised 10 times more funds through the ICO than in 2016. According to a research firm in the crypto-currency field Smith & Crown, in 2017, the Blockchain start-ups have raised over $ 1 billion through ICO. The unconventional method of investment generation is almost as efficient as the usual IPO.

The Conference may be of interest to representatives of the banking and financial sectors, managers and owners of companies in the field of money transfers and exchange operations, energy companies, save-energy companies, retailers, Blockchain start-ups as well as representatives of public authorities at all levels.

To participate in the Blockchain Conference Abu Dhabi, please register on https://bconference.org/.

For partnership and cooperation, please contact us by +442 03 239 96 70 or [email protected].

21 Aug 2017

The Emirates will Recognize Crypto Currencies as a Legal Payment Method, won’t they?

Japan has become the first in the world to recognize officially crypto currencies at the legislative level. In April this year, the government adopted a law on virtual currencies awarding bitcoins and other crypto-currencies the status of a payment method. In the days and weeks that followed, the major national industries have introduced Bitcoin as a payment method. Increasingly, at the time of the conference, over 300,000 stores in Japan will accept bitcoin payments adding billions to the national economy.

As a result, other governments have taken similar steps in this direction. Estonia, South Korea, Russia, Denmark and Canada are looking into ways of encouraging the adoption of Bitcoin on national and international levels.

Today, we also observe interest in crypto currencies in the Arab world. Being a source of emerging talents and companies, the UAE and the Middle East are sizing up an opportunity to adopt Bitcoin and Blockchain technologies. This opportunity lies not only in directly benefiting from increasing the size of the national economy but also in becoming a global leader in the industry with Blockchain and cryptocurrency friendly models and frameworks.

For the second year in a row, the crypto currencies as a legal payment method around the globe is among key talking points at the Blockchain Conference Abu Dhabi. In 2017, Jörg von Minckwitz will speak at the conference discussing Japan’s adoption of Bitcoin and telling why the next country to do so will grow its economy. He will speak about the benefits reaped from such a move, and explain how the booming and disruptive crypto currency market can work with traditional banking for the benefit of governments and companies.

Jörg von Minckwitz is the CEO and co-founder of Bitwala – Europe’s leading crypto to local currency transfer service. Jörg’s role is to envision the new possibilities that Blockchain technology offers and to utilize it by developing new services for the financial sector. Jörg has over 6 years of experience in Blockchain and Cryptocurrency sectors. Prior to Bitwala, he founded Europe’s first Crypto Consulting, Crypto Incubator and first Crypto E-commerce shop. His work has been recognized and awarded with prizes by, among others, ICT Spring, Pioneers Festival and The German Innovation Prize. Previously, he spoke at Money 20/20, Paris Fintech Forum and Distribute Blockchain Conference.

Jörg von Minckwitz will appear at the Blockchain Conference in Abu Dhabi on December 7, 2017. To register for the conference, please visit bconference.org.

+442 03 239 96 70, [email protected]