Dubai Museum of the Future Foundation has organised the second meeting of its Global Blockchain Council to discuss a number of initiatives that will be taken up this year as part of the innovative platform.

The Council was launched last month as part of the Dubai Museum of the Future Foundation’s efforts to adopt the latest technologies and innovation practices at the global level and explore their impact on different sectors.

Participants in the meeting discussed the idea of organising a global Blockchain conference in May which will be attended by Blockchain experts and enthusiasts from around the world. The activities for the year will also include a Hackathon, which will function as an incubator offering incentives for startups such as job placement tracks and investments. It will also enable participants to connect with innovation managers at other companies. The meeting witnessed considerable interest in the incubator concept with significant support from the members.

The members also expressed keen interest in regulatory aspects related to the Blockchain platform. The Council will study what other countries are doing to regulate Blockchain, and explore the various regulations that can be implemented. The meeting also discussed educational activities and looked at current pilot projects and their framework, as well as the role of the Council in these projects. One of the Council’s main objectives is to record and document all the pilot projects’ findings in order to further understand the impact of this technology.

Saif Al Aleeli, CEO of Dubai Museum of the Future Foundation, Founding member of the Global Block Chain Council, said the initiatives launched under the Global Blockchain Council will explore Blockchain and connect with potential investors. The various events and activities will also encourage innovators in this technology and pave the way for regulatory frameworks for efficient and effective use of the Blockchain platform.

The second Council meeting was attended by Microsoft, Du, SAP, IBM, Cisco, TECOM, Dubai Holding, Dubai Multi Commodities Centre (DMCC), EmirateNBD, Emirates Islamic, Dubai International Financial Center (DIFC), Souq.com, Careem, Mashreq, Wamda, Propertyfinder.com, Kraken, BitOasis, Umbrellab, AstroLabs, YellowPay, Privity FZ LLC, Digitus, Network Int, Vinay Gupta, Smart Dubai Office and Dubai Smart Government, Dubai Silicon Oasis and SquareCircle Tech..

A block chain, or blockchain, is a distributed database based on the bitcoin protocol that maintains a continuously growing list of data records hardened against tampering and revision, even by its operators.

Source:WAM