Participants in the upcoming International Blockchain Congress in India are planning to launch on Friday a Global Blockchain Protocol Consortium, an international body, comprised of different countries aiming to further progress the development of the technology behind cryptocurrencies. The consortium will be introduced during the International Blockchain Congress (IBC) to be held in Hyderabad, India, the India Express reported.
Jointly hosted by NITI Aayog Government of India, the State Government of Telangana, the State Government of Goa, and event organizer Nucleus Vision, the conference aims to take the evolution of the blockchain technology to the next level.
IBC expects to bring together over 3,000 blockchain investors, innovators, enthusiasts, startups, regulators and other stakeholders from the world’s blockchain ecosystem.
“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 popularizing blockchain and streamlining various stakeholders and efforts going on globally towards a collective and concerted aim. India and China are members of this consortium,” Abhishek Pitti, CEO of Nucleus Vision told the India Express.
Organizers of the event claimed the conference would open new doors to stakeholders in the industry while further promoting the emerging blockchain technology through a series of discussions, networking opportunities and pitching activities during the two-day summit.
Several stakeholders who are attending the summit expressed hope the IBC and the proposed launching of the Blockchain Protocol Consortium could provide the impetus for a unified global approach about blockchain development.
They said that although blockchain is considered an emerging technology with vast potentials to provide solutions to many challenges, there are plenty of uncertainties about the technology especially on how to best leverage it.
“We still need to figure out how this new technology can be used effectively,” Ajeet Khurana, CEO of Zebpay, a speaker at IBC was quoted as saying.
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