The South East Asia Blockchain Summit | 2 more days to go!
A few days ago I came across an interesting item in my mail about the Southeast Asia Blockchain Summit 2018. The summit will be held in Jakarta, Indonesia from the 3rd to 4th of November, 2018. I shared this a few days ago and I am sure most of you saw it already. In case you saw the post I made about the summit and you’re wondering how that would be of any importance to you as a blockchain enthusiast or developer.
First, I would like you to know that the SEABS will be one good place to network with guys who are top notch and experts in their various industries. The summit will be such a good place to go get more attention for your project since a lot of industry leaders in the blockchain field will be coming to the summit for several reasons some of those include; networking, teaching, and learning more about the industry. Some of these guys will include owners of successful projects like Wanchain, Cobinhood and Oracle-d.
The blockchain technology has been disrupting several industries and drawing so much attention especially in these recent times and there would be a need to handle with care projects that are most times controversial; defying the norms of the top world industries. The blockchain technology has disrupted several industries like the banking industry, health care, music, social media, insurance, government among many others. I will be showing you some ways in which the blockchain technology has disrupted some of the industries on this list below;
The banking industry
Each time we use or hear the word blockchain before we got a lot of things figured out, the first thing that comes to mind is cryptocurrencies (Bitcoin to be more specific). The use of blockchain technology has proven to be a more secure and superior way of running the financial industry due to the fact that it carries out some of the banking operations like; record keeping, asset transfer and many others in a better way. The blockchain technology is also cheap though highly technical in terms of setting one up but once it’s up, there would be no need to employ ten thousand people, since all the operations are carried out as complex mathematical operation in an automated manner.
There are no central vaults with the blockchain banking models and this means robbers or hackers are no longer threats to the banking system due to the use of blockchain technologies. This is of course a superior model and a large fraction of money in our global economies in now within the blockchain economy.
Political institution
One of the primary and fundamental applications of the blockchain technology is in conducting a transparent electoral process. Some claims have been made that the blockchain technology was initially designed for governance in the early 90’s before Satashi Nakamoto built the first for his cryptocurrency in 2008. Bitcoin was the first public application of the blockchain technology but the scope of the technology isn’t just limited to the creation of digital currencies (cryptocurrencies).
It also has a very good use in conducting a transparent government – election processes. One of the greatest characteristics of the blockchain technology is that it is 100% transparent and has no iota of secrecy in it (although we have public and private blockchains). During electoral processes, the blockchain technology can be used to get rid of voting irregularities which may be as a result of; threats from an opposition party, violence on electoral grounds, terrorist attacks and many others. We saw the first blockchain powered electoral process succeed in countries like Sierra Leone.
In Digital or Cyber Security
The reason why the blockchain is so relevant is basically because of the level of security it provides. It takes power away from the hands of any single individual within a distributed network in such a way that no single party can manipulate the information held on the blockchain. Couple with this, the blockchain technology also has a superior way of storing, verifying and securing data in such a way that eliminates the threats of intrusion. The blockchain provides a security system that is practically unhackable. The world’s top security systems are already feeling the impact of this superior model.
What kind of project have you been working on? What kind of project would you like to support? The Southeast Asian Blockchain summit is the best place for you on the 3rd and 4th of November, 2018.