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Event

Blockchain INDO 2018, Jakarta’s crypto-conference in May: how it was

Blockchain INDO 2018 held on 11 & 12 May 2018 at Kempinski Grand Ballroom Jakarta successfully comprised experts, speakers, exhibitors and participants from blockchain, digital assets and fintech – nearly 1000 participants from around the world who attended the event.

The 2-day conference & exhibition enabled the Indonesian participants including some attendees from government agencies to get updates and relevant knowledge about the latest blockchain and financial technologies (fintech).

The event was co-organized by Cryptoevent from Russia and ACGL Malaysia with local partnership of Global Citra Media and Asosiasi Digital Enterprise Indonesia. The main sponsor was financial.org along with other global companies of various tech-platform such as Bayanat Fintech, MOS, Summico, Mfun, Fiipay, OSA, Next Level Consulting and Ultroneum.

According to Abas A Jalil, CEO of Amanah Capital Group Limited (ACGL), the co-organizer of the conference, “we received quality group of participants from SE Asia mainly Indonesia whereby there were active interactions with the speakers and exhibitors. That indicates huge interests from the Indonesian markets towards blockchain and this country has great opportunities for digital assets

Blockchain INDO was a great event for us to exhibit our latest project and we received a lot of interests and good feedback from the participants visiting our booth. I found that many Indonesians are well-versed about blockchain, either to invest or to start learning the latest technologies” said Dr Aziz Rahman from Ultroneum, an ICO based in Estonia.

One of the Indonesian participants Mr Priskhianto attended with his son commented: “The conference provides new perspective and gives more detail info about crypto-currencies. Although there was no transaction allowed by the organizer, but the participants were able to know about the available blockchain & ICO projects being offered globally. I brought my son so that young man gets the opportunity to learn about blockchain, especially from the global experts“.

One of the topics of discussion among the speakers and participants was the regulation of cryptocurrencies in different countries.The attitude towards cryptocurrencies in Asia on the part of the authorities can not be called liberal. In most cases, the state is still skeptical: for example, in January of this year, the Central Bank of Indonesia officially warned about the risks associated with the circulation of cryptocurrencies and confirmed their status of illegal means of payment. Although now Indonesia’s largest platform for trading cryptocurrencies may soon bypass the number of participants in the stock exchange of the country, working since 1912.

All experts and businessmen in the field of blockchain are waiting for clear rules of the game to appear on the market. «In Switzerland (where I come from) there have been some recent guidelines in regards to the types of Tokens that are out there, payment,utility and asset tokens this helps reduce uncertainty, – said Gebhard Scherrer, Co-founder COO DATUM. – I think besides just goverments regulation private entities could help in providing a code of conduct».

A special moment is the state regulation of ICO-projects. With any success story there are the opportunists always ready to take advantage of the quick fund-raising system within a non-regulated space, ICO’s, which can cause great damage to the masses, and in turn give the governments a big headache, think Robert Ryu, Co-founder and Chief Strategy Officer of Tristar Ventures. «Therefore, in the near term, governments in Asia are either outright banning ICO’s (China, South Korea, Vietnam) or turning a blind eye and ignoring them in hopes that no one will get hurt, – said Robert Ryu. – However, in the long run the benefits will outweigh the negative; tech industry growth, employment opportunities, tax revenue and should they still decide to turn their backs on ICO’s and crypto , they face the risk of losing entire industries, established companies, tax revenue and brain-power to other more open-minded nations».

Blockchain INDO was designed as education, knowledge-sharing and idea-exchange platform on global basis, hoping to influence the industry players and regulators to prepare more concrete national frameworks and guidelines about fintech and digital assets especially in Indonesia. With more than 260 million population spread in thousands of islands, Indonesia is one of the biggest markets in the world for blockchain technology.

«The global financial system built on fractional reserve banking and usurious loans has ensnared many developing and emerging market countries with massive debts. These debts – which are literally created from thin air – cost the world’s sixty poorest countries more in interest payments alone than they spend on education or healthcare, – said Matthew Joseph Martin, CEO of Blossom Finance. – Blockchain offers an opportunity to depart from this predatory debt based monetary system».

We are happy to hear good feedbacks from the participants, speakers and exhibitors. With this success, we are considering with our partner ACGL and GCM to do Blockchain INDO 2019 during the first quarter of next year” – said Nikolay Volosyankov, CEO of Cryptoevent in his telegram statement from Moscow.

We hope to see more Indonesian projecrt participating next year. This year we have some Indonesian companies exhibiting their projects i.e Foin, Bali Coin, Paytren, and Halal Chain. These companies were able to promote their projects to many overseas participants, therefore more Indonesian companies should take such opportunity next year” – Denis Gutnik from Cryptoevent said during the closing of the event.

Blockchain INDO 2018 successfully closed at 5.00pm on Saturday 12 May 2018.

Categories
Event

Calling all the blockchain enthusiasts in the largest blockchain conference: World Satoshi Summit 2018

South Asia’s largest conference on blockchain – World Satoshi Summit 2018, is all set to revolutionize the technology underpinning cryptocurrency, through its global series of events.

The first event of the series will debut in the capital city of the world’s largest democracy – New Delhi, between 12th -13th May 2018, at JW Marriott Hotel Aerocity.

The distributed ledger technology, better called blockchain, forms the basis of Bitcoin and other present and up-coming cryptocurrencies, and is all set to disrupt the way the internet did in the 1996.

Since 2008, when Satoshi Nakamoto introduced the world with the concept of digital currency, blockchain has evolved to be much more than a simple technology. It is a revolution that can bring radical shifts in the global financial infrastructure.

Blockchain can enable individuals or corporations around the world to do business, without establishing trust with any third-party intermediary. This can erode any chances of fraud or loss and help societies become more secure in their transactions.

Blockchain has been the hot topic of discussion at various global events.

The folks at WSS (World Satoshi Summit) aim to bring together students, leaders, blockchain enthusiasts and developers under one roof to ideate, discuss and exchange information on this evolving technology.

WSS promotes a global vision where each community, organization, economy and country can operate in an environment that is full of trust – free of corruption and any inefficiency that can be caused by human error or greed.

The event will address multiple issues prevalent in the present systems and will draw out conclusions for further discussions.

The team behind WSS

WSS is organized by leading blockchain experts – Harmeet Singh Monga and Rajeesh Dhuddhu. While Harmeet is the chief business officer at Blocksmiths, Rajesh is the senior vice president at Quatrro and a TEDx speaker.

Summit highlights

  • 50+ speakers
  • 100+ influencers
  • 50+ VCs
  • 3500+ attendees
  • 100+ global organizations
  • 40+ startups

Speaker line-Up

The speaker list includes the leaders and experts of blockchain:

Roger Ver – CEO Bitcoin.com, Bitcoin Billionaire & Founder Bitcoin Cash

Devie Mohan – Founder at Turya, Co-Founder and CEO at Burnmark,

Leanne Kemp – Founder and CEO, Everledger,

Kumar Gaurav – Blockchain Expert/Speaker, Founder and CEO at Cashaa,
and many more.

Special Highlights

Nova Stride: The startups at WSS will be given the opportunity to display their product and receive direct feedback from the investors/users. They also stand the chance to receive direct funding from the VCs/HNIs/ and IBs.

Women empowerment: More than 250 underprivileged women will be imparted knowledge on blockchain to prepare them for the upcoming job opportunities that can arise in the decentralized economy.

What makes WSS 2018 a must-attend event?

For Entrepreneurs: Get the chance to network with the best blockchain influencers and present your brand.

For Startups: Showcase your novel products to the panel of investors and increase your chances to get funded.

For Traders: Learn and network with the world’s best traders of blockchain.

For Public Organizations: Learn how government can use the rising blockchain technology and increase operational efficiency.

For Corporates: Know how to leverage blockchains for efficiency gains in MNCs through live sessions and case studies.

For Learners: Ultimate platform to meet blockchain experts and learn the specifics of mining cryptocurrencies.

Exclusive discount codes for DHN readers

The readers of Daily Host News can use the code WSSDRV18 for 18% discount as we are the official media partners for the event. Book your slot now.

Stay tuned to get latest updates from the event.

Note: The event stands cancelled/postponed due to unavoidable circumstances. We regret the inconvenience caused.

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Infographics Innovation News Technology

An Infographic: How do Bitcoin Mining and Bitcoin Blockchain Work?

Let’s face it, understanding the working intricacies of a concept like Bitcoin which works on cold hard mathematics can be a herculean task for men of the street who are no cryptography experts. So here it is, an Infographic that explains how the Bitcoin Blockchain works in the simplest way possible.

Categories
Articles Innovation New Products News Technology

What Are Bitcoins? How Do Bitcoins Work? (Bitcoins- A Complete Guide- Part1)

Bitcoins, the currency on the tech world’s lips lately, sounds endlessly fascinating and builds up curiosity as it is supposedly the first time in the history of mankind that people’ve a way to hold and transfer value without any other person involved or having control over it. It gives complete ownership of money both in storage and transfer. Nobody can prevent you from having it. Nobody can prevent you from spending it. I was hooked up with the whole premise but was skeptical whether a man of the street like me, who is no cryptography expert, can understand the working intricacies of a concept like Bitcoin which works on cold hard mathematics. However, after reading extensively about it on the internet, I realized that it is fairly easy to understand and an average guy with just basic technical knowledge can use them.

What is Bitcoin?
A currency. Just like euros, dollars, yen, pounds, rupee etc. The beauty of Bitcoins lies in the fact that it is 100% virtual and has no counter-party risk to hold and to transfer. It allows a direct and immediate transfer of value between two people anywhere in the world. No banks, governments, or organizations control or influence it. Created in 2009 by Satoshi Nakamoto, the Bitcoin network is structured like a guerilla movement. Built on peer-to-peer Internet technology so that no one person, business, or government controls it ; it is literally enabled by the individuals that choose to use it. . Similar to popular file sharing protocols like BitTorrent, clients talk to each other and propagate transactions through the network. Complex math and strong cryptography are the foundations used to confirm valid, fundable transactions, prevent double spending, and deny inflation.

Bitcoins allow a direct and immediate transfer of value between two people anywhere in the world.
Bitcoins allow a direct and immediate transfer of value between two people anywhere in the world.

How do Bitcoins Work? How do they get rid of governments, banks, and payment companies?
Pretty simple. To use Bitcoins, you download the software from Bitcoin.org. The software acts as your bank account and is called your “wallet.” It stores a secret code on your computer, and this code enables funds to be spent from your bank account. As soon as one has this wallet software, one can receive and send Bitcoins to other wallet-holders anywhere in the world. You don’t need a name, an address, a Social Security number, or any personal information of any kind. Nobody “approves” you for Bitcoin. It’s free and open-source.

Transactions are sent and accounts are secured using “public key cryptography.” Every account/wallet has two keys- a public key and a private key. These keys are long strings of numbers and letters.

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Your private key, which your wallet software knows, allows you to send money. To send money to someone, you merely need to know their public key (kinda like a bank account number). If you have your private key plus their public key, a transaction can be created and the funds are deducted from your account and credited to the receiver’s account, without anyone else having a say in the matter. Simple as that.

How are Bitcoins generated?
By Bitcoin Mining. A process similar to a continuous raffle draw. Bitcoin Mining secures the transactions to make sure that every transaction (transfer of bitcoins from one computer to another) is verified and
generates new Bitcoins by the aforementioned verification.

What is Bitcoin Mining?
Bitcoin mining is a process where the people who use the Bitcoin system install a software onto their computer. This software is very advanced and does computationally intensive work (SHA256 decoding) of verifying transfer of bitcoins. It collects the transactions on the network (like “A pays B 5 bitcoins” and “C pays D 6 bitcoins”) into large bundles called “blocks.” The software now computes a cryptographic hash of these blocks to verify the integrity of transactions. The people running the mining process get rewarded for completing a block by receiving a certain amount of bitcoins from the system. And this is the ONLY way that new bitcoins are created. So as a Bitcoin Miner all you need to do is run computer programs on a very specialised hardware that helps verify earlier transactions made. And get paid for it.


Video games.
Books.
Servers.
Gifts.
Alpaca Socks.
A detailed list can be found here.

Government Vs Bitcoins
Given the fact that bitcoin could facilitate illegal activities, including the sale of pirated or counterfeit goods, stolen credit card numbers and passwords–even child pornography, there’s a very real chance that the Governments might try to bring down this whole network in future. But, can they? The first step they might take is that they can try to take down Bitcoin websites. Mr. Erik Voorhees, a writer and an entrepreneur, in his recent article described taking down Bitcoin websites as cutting the heads of a Hydra – for each successful severance, publicity and the profit motive would compel more sites to spring up.

So taking down websites is an inadequate strategy if the government wishes to impede Bitcoin. What else could they do? Can’t the government just “shut down” Bitcoin transfers? Bitcoin is not vulnerable to this risk, because there is no central point of failure. There is no Bitcoin office. There are no central Bitcoin servers. There is no president nor employees of Bitcoin. Bitcoin has no home country, it is licensed nowhere. It is a distributed network, a protocol, that can operate as long as the internet exists (and, in fact, even without the internet per se). Transactions occur peer-to-peer, meaning no governing body approves them. Accounts cannot be frozen, because nobody has the freeze button.

Bitcoin cannot be turned off – it is like a benevolent virus which, so long as a few hosts survive somewhere in the world, can perpetuate itself and regrow at the speed of information.

The Future of Bitcoins
It’s too early to say whether Bitcoin will be a success not. An entirely new global monetary system that Bitcoin is, it faces an uphill battle, both technically and legally. The future depends on the inclination of big organizations towards accepting Bitcoins as a payment option, and they’ve started to do so. Exchanges where you can swap money for bitcoins and vice versa are up and running, and the number of vendors that accept bitcoins for payment continues to expand. Beyond the concerns of acceptance, there’s even a bigger issue. Many economists, including Paul Krugman, consider Bitcoin’s sudden jump as ephemeral— they see it as a bubble which will pop once the novelty wears off. Only time, really, will tell the true potential of Bitcoins. However, there’s an urgent need for decentralized currency system, and Bitcoin certainly is a step toward censorship-resistant digital currency. And for that reason alone, it’s worth consideration.

This is part 1 of a 3 part series. Links to part 2 and 3, which will elaborate more on Bitcoin Mining and the proper use of Bitcoins, will be updated soon.

The Future of Bitcoins