The biggest blockchain event of India marks a new boom in Bitcoin, CEO Claims

The cryptocurrency could be due to a great return. Last month saw the debut of the largest Asian blockchain conference, the International Blockchain Congress in India, with over 5,000 registered participants and over 200 government participants. It's a huge sign of interest in technology and the co-host's CEO Nucleus Vision sees it as a signal that markets are about to rise.

<p class = "canvas-text canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" It only takes a few triggers globally to bring back the market, "says Abhishek Pitti Inverse [19459005"CiòcheèaccadutoinIndiastadandoatuttiquestoenormesegnalecheigovernistannosupportandoleapplicazioniblockchainImercaticriptostannosoloseguendoisegnalichearrivano"C&#39;èstatosicuramenteritardoneltornareindietromabasatosull&#39;adozionedellablockchainnellacomunitàimercatidellacrittografiasonosolounsegnaledidistanzapertornareAnchesealmomentoèunpo&#39;ribassistapensochesiasolounaquestioneabrevetermine""data-reactid="19">"Servonosoloalcunitriggerglobalmenteperriportareilmercato"diceAbhishekPitti Inverse "What has happened in India is giving everyone this huge signal that governments are supporting blockchain applications. Cryptographic markets are only following the signals that are coming. There was certainly a delay in going back, but based on the adoption of the blockchain in the community, cryptographic markets are just a distance signal to go back. Although at the moment it's a bit bearish, I think it's just a short-term issue. "

The current price of Bitcoin of $ 7,375 is well below the December peak of nearly $ 20,000, while the total capital cap of $ 240 billion is good below the $ 830 billion peak at the time. beginning of January

"People who have worked in this sector have seen this movement several times," Pitti says citing the fall in the price of the 2014 bitcoins from around $ 1,500 to nearly $ 200 which caused many to put in discussion of the long-term potential of the sector. "Because of the underlying principles of blockchain and decentralization, of the entire disintermediation of resources, I think the blockchain is obviously here to stay."

<p class = " canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Developers are still exploring new applications for both coins and decentralized blockchain that supports its functioning despite the recession, with the offe rta of Revolut crypto cashbacks and Everipedia that launch a blockchain encyclopedia to censure . "data-reactid =" 22 "> Developers are still exploring new applications for both coins and decentralized blockchain that supports its operation despite the recession, with Revolut offering criptoval cashback and Everipedia launching a blockchain encyclopedia proof of censorship.

Abhishek Pitti.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The conference of this year, hosted in Hyderabad on August 3rd and 4th and in Goa on August 5th, saw several memorandums of understanding signed between governments and organizations and the conference also saw the announcement of the blockchain protocol Eleven01 developed in India. "data-reactid =" 31 "> The conference of this year, hosted in Hyderabad on August 3rd and 4th and in Goa on August 5th, saw several memorandums of understanding signed between governments and organizations. also seen the announcement of the Eleven01 blockchain protocol developed in India

"Eleven01 is an emerging market blockchain protocol with government compliance standards, which serves as a basis for decentralized applications", Rama Iyer, president of the Eleven01 Foundation, he said in a statement. "This will create a blockchain ecosystem and will build a nation-centered procedure that is tailored to the needs of the country."

A Telengana government representative highlighted the role of the largest incubator T -Hub of the country in bringing the project to life.The state government, together with the state government of Goa, co-hosted the conference.

"This has not happened anywhere in the world, where c There are 200 people from the government attending the conference ", says Pitti.

Pitti predicts the growing interest in technology will lead to greater interest in the second annual blockchain congress next year, projecting a tenfold increase in participants. The team is also planning a women's hackathon in late February in the state of Goa.

Cryptocurrency can not make headlines as before, but its supporters are working on its future applications.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " The author of this story has a participation in Bitcoin and Ethereum. "data-reactid =" 37 "> The author of this story has a participation in Bitcoin and Ethereum.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Photo via Nucleus Vision, Unsplash / Andre Francois "data-reactid =" 38 "> Photo via Nucleus Vision, Unsplash / Andre Francois

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