Istanbul Blockchain Week has just announced the speaker line up for its Istanblock 2020 event. The conference, which will take place in April, will feature several prominent figures in the crypto industry, including Roger Ver, Da Hongfei, and Alex Mashinsky.
Turkey’s premier blockchain event announces high-profile speaker line up
While few would put Turkey on the list of places with a burgeoning blockchain scene, the country has been ramping up its efforts to get recognized as a leader in the new technology.
The country’s premier blockchain event, Istanbul Blockchain Week, will be taking place from 6-10 April and will see dozens of events taking place across Turkey’s largest city. One of the most highly-anticipated events will be the Istanblock 2020.
The organizers of the event have now announced the speaker lineup for the crypto-focused event, saying attendees can look forward to some big hitters from the world of blockchain and crypto taking to the stage.
Roger Ver, a Bitcoin Cash evangelist and executive chairman of Bitcoin.com will be spearheading the event, the organizers said, adding that he will be joined by other “thought leaders and luminaries” from the industry.
Da Hongfei, the founder of blockchain project NEO, will be one of the speakers, as will Alex Mashinsky, the founder of the Celsius Network.
Raising awareness of Turkish blockchain projects
Cryptocurrency exchanges will also be one of the topics discussed at the event, as Ben Zhou, the CEO and founder of Bybit has been announced as one of the speakers.
However, the event will also feature some big names that don’t come from crypto. According to the announcement, DP Suresh, the vice president of engineering at Yahoo, will be among the event’s speakers.
Erhan Korhaliller, Founder and CEO of crypto PR agency EAK Digital which organized the event, said that the goal of Istanbul Blockchain Week was to promote Turkish blockchain projects globally. He said in the announcement:
“Already, so many people in Turkey are familiar with crypto. What this event will do is catapult that enthusiasm and energy onto the world stage. It’s going to be exciting.”
The Istanbul Blockchain Week will take place from April 6-10, while its crowning event, Istanblock 2020, will be held on April 9-10.
Pharmaceutical Companies Reportedly Developed Blockchain System To Track Counterfeit Drugs
The involvement of blockchain in the medical industry paves the way for a collective environment for drug makers, distributors, retailers and delivery firms.
Reuters recently reported some two dozen pharmaceutical companies developed “blockchain-based MediLedger Network” to track the supply chain of medicines.
Namely, global medical firms including Pfizer Inc PEE.N and Eli Lilly and Co LLY.N have moved ahead in emerging technology, blockchain. These firms have already developed a blockchain and decentralized solution with almost 20 companies are joining hands to create a blockchain solution.
The vision behind medical companies developing a blockchain system is to verify, track the supply chain of the prescription drugs and later to combat the flow of in the open market and to combat the flow of counterfeit medicines.
Since technology acts as a shared database, well connected with the networks of computers, blockchain enhances trust and transparency. The involvement of blockchain in the medical industry paves the way for a collective environment for all the parties; the drug makers, distributors, retailers and delivery firms.
Companies that are already in this rally include; FedEx Corp (FDX.N), Novartis (NOVN.S), Amgen Inc (AMGN.O), Sanofi (SASY.PA), GlaxoSmithKline Pic (GSK.L), Walmart Inc. (WMT.N), Walgreens Boots Alliance Inc. (WBA.O), AmerisourceBergen Corp (ABC.N).
Concerning the matter, Susanne Somerville who is the CEO of a MediLedger Custodian, Chronicle claimed that the report on blockchain-based MediLedger is already been delivered to the U.S. Food and Drug Administration. She notes the report laid emphasizes on the importance of the blockchain to prevent counterfeit medicines.
This being said, Reuters cited the report of the World Health Organisation which claimed ‘counterfeit medicines worth $79.26 billion are traded every year.
“Even though the drug supply in the United States is safe, there are small percentages … of potential counterfeit drugs. Certainly, there’s a lot of evidence of diverted drugs.” Said, Susanne.
She also noted their vision by doing so is to “improve the security of prescription drugs in the country”.
Besides the medical industry, blockchain technology has already on a rise across several industries. Interestingly, the latest report notes that the top 5 companies are investing millions in terms of crypto to encourage blockchain education. On the other hand, Bloomberg also highlighted that American multinational investment bank and financial services, JPMorgan Chase & Co. believe that this disruptive technology is laying the foundation for digital money.
JP Morgan Blockchain Report: Bitcoin (BTC) Price, Stablecoins, Payments
JPMorgan Chase, the multinational investment bank, is one of the pioneers of blockchain research and adoption among the giants of classical banking. Its analysts prepared a thorough review of the most important events, processes and trends the blockchain and cryptocurrency sphere went through in 2019.
Has blockchain entered the financial mainstream?
Despite all rollercoaster rides the crypto marketsэ capitalization suffered from last year, for the analysts of JPMorgan Chase, it was the year of the overwhelming adoption of decentralized technologies, so, the report in particular says:
“2019 will be remembered for the rise of digital money.”
The report mentions both successful (PAX, USDC) and failed (Libra, Petro) attempts to disrupt classical payment and remittance institutions with crypto. All in all, the world is ready for еру private payments. This statement is proved by the global growth in all types of non-cash payments (e-payments, cards, mobile wallets) in Asia.Must ReadRipple’s XRP to Be Used for Cross-Border Payments in Southeast Asia, Latin America, and Africa –
By the way, blockchain-based systems have yet to overcome numerous challenges on their way to mass adoption. First of all, it is price volatility. As outlined in the report, it is volatility of crypto behemoths, mostly Bitcoin, that makes institutions focus on stablecoins. Also, the huge gap between Bitcoin market capitalization and its intrinsic value yet corrected by the price recovery is another obstacle on its way to investors’ portfolios.
Stablecoins on the march
Stablecoins, both corporate and state-backed (CBDCs) are also in the spotlight of the community and regulatory boards. The market is desperate for their toolkit to provide them with plenty of use-cases.
Image via IMF
Stablecoins may potentially reach a wide adoption in the sphere of cross-border remittances and banking settlements. Numerous banking institutions across the world are looking to issue their own stablecoins or use corporate ones.
JPMorgan analysts have named one more serious threat to crypto adoption. It is the implementation of quantum computations into the distributed technologies. They can seriously undermine DLT security and enable dramatic hacks.
JPMORGAN SAYS BLOCKCHAIN IS LAYING FOUNDATIONS FOR DIGITAL MONEY
- JPMorgan Reports Huge Moves Towards Blockchain
- The Recent Growth Of Blockchain
- What are the challenges — according to JPMorgan?
JPMorgan released a report last Friday, detailing the global enthusiasm for blockchain technology in the financial sector.
In the 74-page report, JPMorgan described several projects that have developed the ‘real world’ financial application and as a result describes 2019 as the year of “the rise of digital money”.
In the report, the US investment banking heavyweight elucidates many of the most promising use-cases which it sees as having the potential for wide-spread adoption in the financial sector.
JPMORGAN REPORTS HUGE MOVES TOWARDS BLOCKCHAIN
In the report, JPMorgan describes the way in which blockchain — the technology which allows a ledger to be controlled by multiple agents — is being rapidly taken up by financial and political actors.
They suggest that the “groundwork is now in place” for the massive adoption of blockchain in the realm of “Payments, trade finance, and custodial services”, which “remain the clearest use cases for blockchain”.14 BTC & 30,000 Free Spins for every player, only in mBitcasino’s Crypto Love Affair! Play Now!
JP Morgan says that the merits of the technology are to facilitate cross-border payments using digital assets and in allowing some equity trades.
THE RECENT GROWTH OF BLOCKCHAIN
Over the last several years, research, investment in blockchain technology have been taken up by some famous brand names: Facebook (with their Libra coin), the Winklevoss brothers’ (Gemini coin), and JPMorgan (with the JPM coin).
Governments are moving in as well: For example, China is said to have been developing a new digital Yuan, which will be regulated by the central bank there, and Great Britain’s Bank of England has announced the start of its research into creating a digital currency.
The attempt to successfully adopt distributed ledger technology and create a digital currency has become akin to a technical arms race mirroring the episode Winklevoss vs. Zuckerberg to establish a social network and the historical arms race between West vs East.
WHAT ARE THE CHALLENGES — ACCORDING TO JPMORGAN?
While the report discusses the massive uptake and rise of blockchain technology — it is not overly optimistic. After giving encouraging descriptions of the changes, the firm demotes the cryptocurrency project as a second rate investment.
“Developments have not altered reservations about the limited role that cryptocurrencies play in global portfolio diversification or as a hedging instrument,” JPMorgan warns.
They argue that crypto acts as a ‘hedge’ to protect their investments from loss of confidence in traditional currency.
This differs from the attitudes of many crypto asset management firms, such as Enigma Securities who recently told me that they believe cryptocurrency should soon play a pivotal role in hedge fund portfolios.