Dubai International Blockchain Summit – 2018

Dubai International Blockchain Summit – 2018

Dubai – Technology leaders and adopting businesses came together on the eve of Dubai International Blockchain Summit on 8^th January 2018. The day-long summit brought the best of minds in Fintech (Financial Technology) and how it is impacted by the Blockchain (world’s leading software platform for digital assets). The occasion was marked by insightful speeches, discussion panels, networking sessions, and innovative presentations.

The summit generated content that catered to the intellect of a wide spectrum of audience – from the seasoned veteran to the excited newbie. It hosted 2000 delegates from 12 nations across the globe and saw 50+ visionaries from across healthcare, banking, finance, and technology share how Blockchain will continue to have a disruptive effect on diverse industries.

Significance of Blockchain Summit – UAE & Middle East

The one of its kind summit is the largest in the Middle East and aptly showcased how the technology can be utilized in broader applications and have a meaningful social impact that is for the common good. The level of interaction that happened throughout the day-long summit bears testimony to the interest shown by participants, sponsors, and speakers alike.

Impact of Blockchain on Middle East Economy

The Middle East is fast rising as the key player in Blockchain technology development and rapid adoption. It has received a significant push from none other than Dubai’s Crown Prince HH Sheikh Hamdan bin Mohammed Al Maktoum. He is the brainchild behind the emirate’s ambitious plans to become the world’s first Blockchain government¹.  

By adopting cutting-edge technology, the government plans to transfer all implementable transactions on the Blockchain. This objective is set to be realized by 2020 and presents immense opportunities for technology experts and solution providers. It is no wonder that big names such as ConsenSys from New York are flocking to Dubai to contribute meaningfully to the growing influence Blockchain.

The rapid adoption of Blockchain is also attracting top names like Cisco and IBM who are setting up operations around Blockchain operations and are involved in a Global Blockchain Council. For smaller companies and individual entrepreneurs this means a world of opportunities right here in Dubai and UAE.

Take, for instance, the startup incubator set up by IBM in Dubai to facilitate using IBM solutions and hardware to develop exciting new Blockchain solutions. The result is a spike in sustained interest from smaller yet noteworthy players like Careem and Com Mirza. The latter is planning to launch a ‘Dubai Blockchain City’ to encourage hundreds of startups to work in this field.

The organizing team for the event is happy with the level of interested exchanges that took place amongst different companies positioned at various levels of breadth of experience and maturity in the Blockchain technology.

Future Prospects – Dubai International Block Chain Summit (DIBS)

As an on-going event, DIBS have received positive response in 2018 by the visitors. Be it facilitating critical business networking, gaining futuristic insights on the future of Blockchain and cryptocurrencies, or even understanding the widespread impact of the technology across multiple industries, the event has really delivered immense value to the participants. This would definitely imply that the region’s biggest stand-alone summit on this theme will be eagerly anticipated in its next edition.

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