Baffled by blockchain? Head to next week's Future Blockchain Summit and you'll be able to explore the world's first interactive 'City of the Future' - a live walk-through journey that will show just how the technology could reshape our lives
Dubai, UAE: Dubai’s globally agenda-setting Future Blockchain Summit, hosted by Smart Dubai and Dubai World Trade Centre returns on Tuesday this week – and is bringing its very own version of a blockchain-led society with it.
Taking place April 2nd and 3rd at the Dubai World Trade Centre, the Summit has this year partnered with telecommunications giant & ICT Solutions provider du, from Emirates Integrated Telecommunications Company (EITC) to offer visitors the chance to get their fullest understanding yet of how a city running on blockchain – the revolutionary new online ledger that experts are branding “the new internet” – would operate. The application development is being brought to life by Dubai blockchain startup, one37.
The six hub walk-through ‘City of the Future’ will ask participants to assume the role of a traveler arriving in Dubai – the first city fully powered by blockchain technology. Using a unique smartphone QR code, each visitor will be welcomed into the country at passport control, where their first entry onto the blockchain will be made and their exploration of a city running on blockchain begins.
Blockchain technology is an online ledger of transactions and happenings, and works by linking these unique ‘blocks’ of information in a chronological ‘chain’. It is a technology that bewilders many: at last year’s debut Future Blockchain Summit, 76% of attendees admitted visiting purely to try and get a better understanding of how it works.
This year the ‘City of the Future’ will allow visitors to understand the real potential of this new technology and how it will impact every single aspect of our lives, and will feature hubs hosted by local businesses and government entities Dubai Police, Dubai Culture, Be’eah, Careem, Evoteq and Takaful Emarat, all demonstrating how they will utilise the blockchain in real-life examples.
It will do that by allowing each participant to make their way across various city services – dotted across the floor of Future Blockchain Summit, simply by sharing their identity with the likes of insurers, a smart Police station, entertainment stops and more. Participants will be able to earn and spend tokens in exchange for ice-cream, pizza, sandwiches and more across the Summit.
This is the first of its kind anywhere in the world, the interactive experience will showcase a typical journey on the blockchain, with participants gaining a hands-on understanding of how the technology works and how their life could benefit from it.
There are nearly 32 million blockchain wallet users worldwide[i], and with Dubai set to host millions of international visitors for the upcoming Expo 2020, the journey of a blockchain-savvy traveler is being seen as an ideal way to demonstrate the power of the technology.
“The onset of nascent technologies such as Blockchain are redefining the way we innovate our cities for tomorrow,” said Farid Faraidooni, Deputy CEO – Enterprise Solutions, EITC. “As a leading enabler of innovative technologies and solutions, du is proud to be deploying the first Blockchain Platform as a Service locally hosted in the UAE to create seamless and efficient processes for government entities and businesses. By projecting the City of the Future Experience, we are thrilled to be showcasing how future Blockchain initiatives will play an impactful role in delivering a safe, convenient and happy societal experiences for both citizens and travelers alike.”
The second annual Future Blockchain Summit will give visitors an unprecedented vision of the potential of blockchain technology in the UAE. A key pillar within the Dubai Blockchain Strategy, the Future Blockchain Summit comes as Dubai continues to progress toward its goal of becoming the world’s first government to execute all applicable transactions using blockchain technology by 2020.
Blockchain technology is set to revolutionise and shape the future of data and financial transactions across industries. From ecommerce to banking and even the creative economy, blockchain technology will change the way that individuals and businesses share data, according to technology visionaries. However, as blockchain technology remains in its nascent stages, it can be difficult for individual end-users to imagine how their day-to-day lives will be changed.