From making the first blockchain phone call to the world, to the launch of eco-friendly tokens, to new uses of the public sector, to the tokenisation of new sectors, the latest blockchain technology developments have been unveiled to an international audience in Bali this month.
Leader Blockchain, government ministers, entrepreneurs and technology experts at the 2018 Summit XBlockchain spoke to the regional landscape, shared products and best practices, identified opportunities for collaboration and addressed industry challenges. Held October 9-10, the Summit presented the latest blockchain and cryptocurrency news, focusing on innovative use cases and long-term solutions for the global market.
The biggest Blockchain event in Bali
Adjacent to the annual FISM and World Bank one-week meetings in Bali, over 500 participants in 20 countries have flocked to Bali, Indonesia to join the conversation, with high-profile leaders in the industry and the government sector. Participants included: Loreta Maskaliovienė, Deputy Minister of Finance, Republic of Lithuania; Dharmendar Sesungkur, Minister for Financial Services and Good Governance, Republic of Mauritius; David Kao, head of Singapore, Binance; Meeta Vouk, Director, IBM Singapore Lab; Zac Cheah, CEO of Pundi X; and Stephen Chia, a member of the Council and regional director of SE Asia, NEM.io Foundation, among others.
The two-day summit highlighted several aspects of the future development of the blockchain, such as the accessibility of cryptocurrencies, the blockchain economy, the political frameworks on digital technology, the inclusive technology and the blockchain for businesses and businesses. . Over 50 speakers have also explored the cases of creative use, especially in the fields of economics, entertainment, games and the environment.
"When we talk about blockchain it is not [just] on financial technologies; it's important for education, health, the energy sector, for green investments, wherever we talk about reforms, changes and challenges "
said Loreta Maskaliovienė, Deputy Minister of Finance, Republic of Lithuania, who revealed that her annual budget hopes in the Baltic state will be managed via blockchain technology.
"In Lithuania we are analyzing all the different possibilities, for the food industry, for the traffic, there are many possibilities.The new technology is coming to everyday life for everyone.We should not close your eyes."
During the Summit, Pundi X revealed its latest device to take advantage of blockchain technology: the XPhone blockchain-powered. On October 10, Pundi X made the first blockchain phone call to the world, demonstrating that blockchain can be used for much more than transactions and also brings the potential to decentralize data of all kinds. The phone works on the Function X blockchain of the company, a completely decentralized ecosystem made up of five key components, including the Function X blockchain, the Function X operating system, Function X IPFS, the FXTP transmission protocol and the X function docker. .
Binance, PundiX and Co.
Several other start-ups and companies have presented unique and interesting solutions for some of the major problems encountered by the industry. The Poseidon Foundation has launched a blockchain solution that will allow users to conserve the forests of the earth through high quality carbon credits and a utility token called OCEAN. This increases the case of the blockchain as a tool for social impact, which has been a major goal for the rapidly growing industry.
The head of Binance Singapore David Kao announced that the fiat-to-crypto exchange will be launched by the end of the year to provide another gateway for mainstream adoption. Furthermore, there is the potential for other fiat-to-crypto exchanges throughout Southeast Asia to help increase the adoption of blockchains across the region.
The themes of adoption were also discussed by Danny Baskara, founder and CEO of Vexanium, who is finding blockchain applications at the crossroads of the silos of traditional customer loyalty and reward programs. Another leading blockchain company, the NEM.io Foundation, has revealed its vision to exploit the blockchain in symbolizing new resources and modernizing old industries.
The next edition of the XBlockchain Summit will arrive in Brazil on March 29-30, 2019 and China with a date to be announced shortly.
XBlockchain Summit Bali 2018 highlights: