The IDACB is setting up provisions to regulate laws and initiatives on cyrptocurrency and blockchain technology through the World Blockchain Summit in Moscow.
Russia is moving towards complete and total financial disruption through the immediate and structured adoption of blockchain technology. The International Decentralized Association for Cryptocurrency and Blockchain (IDACB) is pushing for the requisite legislature of the technology by generating awareness at selected world summits. The latest summit the IDACB has partnered with, is the World Blockchain Summit Moscow to he held on 26 – 27 April 2018 in the nation’s capital. The event is being conducted by Trescon.
The IDACB is on a global mission, and has set its initial target on its home ground. Russia is on the way to financial elevation with the cryptocurrency market cap set to touch 100 billion in the country. Apart from a market standpoint, the country’s largest banks have started an asset based cryptocurrency network with withdrawal platforms and have begun trading on the market. Blockchain technology is the hottest topic in the IT sector within Russia and the cherry on the cake would be the National leader, Vladimir Putin, backing the idealogy behind blockchain technology and cyrptocurrency. The government has launched the first central regulated cryptocurrency called the ‘Crypto-ruble’, which works using the ledger based technology.
The purpose of this partnership with the World Blockchain Summit is to generate more awareness and understanding amongst its own people, before venturing into international waters.
International Secretary for the IDACB, Maxim Chereshnev, had said that “With the wide scale adoption of blockchain technology, the battle is definitely won. But there is a war, which is the global incorporation of the technology. And this war starts at home first, for the IDACB. We hope to bring about the revolution through continuous education and campaigning. No factor will be ignored as we push for a detailed legislature and centralized laws on the technology. The market is unstable because of the absence of these intricate facets”.
Another factor which has deterred investors from venturing near cryptocurrency and blockchain technology is the absence of a regulatory system for ICO launches, which the IDACB is also pushing to get instated within the country. The World Blockchain Summit, which is being conducted by Trescon, is set to become an elite event as key industry decision makers and innovators are attending the summit to discuss and come up with solutions to these exact problems.
Co-Founder of the Russian based company United Traders, Anatoly Radchenko, has repeatedly mentioned that “The technology is relatively new and is a global behemoth in terms of market cap and value. The worldwide cryptocurrency market is evaluated at 560 billion as of 2018 and is expected to touch 9 trillion USD by 2025. When we discuss concepts with high volumetric financial values in currency, traders and investors look towards a regulatory body to protect their rights and investments. The IDACB, and top Russian banks, are looking for the creation and installation of such a body”.
The event will also deliver insights into the different applications of blockchain technology in various sectors. The possibility of blockchain in industries such as Power, Healthcare and Agriculture are being explored by various startups and companies. Governmental organizations are also looking towards the application of this technology into different sectors such as Transportation and Policy derivation.
Some of the notable speakers who are attending the World Blockchain Summit are Marco Robinson, Founder of NKD Technologies, UK; Maxim Chereshnev, International Secretary for IDACB, Russia; Phillip Nunn, CEO of the Blackmore Group, UK; and Dinis Guarda, who is a renowned author as well as the Founder and CEO of ‘lifesci’, UK. These are just a few of the illustrious 35+ speakers slated to attend the event.
The ICO Pitch competition at the summit will be governed by an elite panel, including members of the IDACB. Also, the summit will have a dedicated exhibitor venue for startups and innovators to display their latest innovations and inventions to the public and potential investors, to garner the traction they require for their business.
Trescon is a global business events and consulting firm that provides wide range of business services to a diversified client base that includes corporations, governments and individuals. Trescon is specialized in producing highly focused B2B events that connect businesses with opportunities through conferences, road shows, expos, demand generation, investor connect and consulting services.