International Blockchain Congress next week may set new protocol

Global Blockchain Protocol Consortium, a body of various countries to further progress the evolution of blockchain technology, will be launched at the International Blockchain Congress.

Published: 28th July 2018 11:49 PM  |   Last Updated: 29th July 2018 05:21 AM   |  A+A-

Combination of technological breakthroughs such as artificial intelligence, blockchains and Internet of Things is the fourth industrial revolution.

Express News Service

HYDERABAD: Global Blockchain Protocol Consortium, a body of various countries to further progress the evolution of blockchain technology, will be launched at the International Blockchain Congress (IBC) to be held in August first week in Hyderabad.

Being jointly hosted by NITI Aayog, Telangana and Goa governments, and event organiser Nucleus Vision, IBC will bring together more than 3,000 blockchain enthusiasts, innovators, businesses, regulators, start-ups and other stakeholders from the global blockchain ecosystem. With conferences, discussions, pitching and networking opportunities, this prestigious conference is expected to not just further the progress of emerging blockchain technology, but also throw open new doors to the stakeholders in the ecosystem.

“IBC is a first-of-its-kind mega event to be held in the country with a focus on the blockchain. Several initiatives that will help in the propagation of blockchain technology will be taken up during the conference. Global Blockchain Protocol Consortium will be launched during the event. This will be an important milestone in popularising blockchain and streamlining various stakeholders and efforts going on globally towards a collective and concerted aim. India and China are members of this consortium,” said Abhishek Pitti, CEO, Nucleus Vision.  

Though blockchain technology is seen as an emerging technology with the potential to throw up solutions to several problems, a lot of clarity is still needed as to how and where to leverage it. Several stakeholders express hope that IBC and the to-be-launched Blockchain Protocol Consortium will bring some direction.
“We still need to figure out how this new technology can be used effectively,” said Ajeet Khurana, CEO, Zebpay, a speaker at IBC.

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