Distributed Ledger Technology (DLT) and its sub category Blockchain has been quite a buzz around the whole world since 2017. A technology that has the potential to revolutionize the way we do business in our contemporary world i.e. the elimination of the 3rd Party to establish Trust between two parties in a contract. Developed countries are leading the way once again to establish, improve, regulate the modus operandis associated with this technology. Such operations involve fund raising with new business model of cryptocurrency(coins)/token offerings, establishing new economies to do business in a more secure, and efficient ways while savings cost by the reduction of centralized parties which previously helped to establish Trust.
According to an article published on CoinDesk states that “At $6.3 billion, ICO funding in the first quarter is now 118 percent of the total for 2017, a figure that might go a long way…….” (reference: https://www.coindesk.com/6-3-billion-2018-ico-funding-already-outpaced-2017/). With such adoption rate, the world is expecting the upcoming years to see more of the value coming to the world from this new technology. Countries are making some serious efforts to regularize the crowd funding methods “Initial Coin Offerings”, with due consideration to Investor protection, Economy, Anti Money Laundering, as well as registration of the Decentralized Autonomous Organization (DAO) (Set of rules encoded as a smart contract placed on a internet which functions automatically within the pre-defined rules) that a as a legal person which can sue and be sued if needed.
Pakistan, a frontier economy, has to utilize its resources to gain from these new technologies which can transformed their fortunes. With propoer direction, and underlying talent of youth we have, Country is able to produce its own Unicorns for the world. Currently, no effort has been undertaken by the official government, but, private sector is making some serious efforts to promote this technology. One such collaborative effort is made by “Trustworks” & “EdgeBox” specifically.
Pakistan Blockchain Week 2018
“Trustworks is pleased to host Pakistan Blockchain Week 2018, in collaboration with Blockchain Economic Forum and edgeBox global. The event will bring regulators, policy makers, government, institutions, IT companies, Industries, donor organizations and global blockchain communities under one roof to discuss/educate/share valuable insides with the attending delegates. Pakistan Blockchain Week 2018 is scheduled to be held on 27 Sept -3 Oct at Marriott Karachi.”
The event will be featuring as stated on the website as follows:
Block Summit 2018 | 27 September | Marriott Karachi
Speed-Dating | 28 September| Marriott Karachi
Hackathon | 28 Sept – 30 Sept| Gaditek Karachi
Hands on Training | 2-3 October| Gaditek Karachi
Hope the event really yields results that it is intended too, and the stakeholders specially government institutions collaborate with the community for introduction, and development of this new Techno-nomics.
Author: Muhammad Azam: Linkedin