ALTHASH AT THE 4TH INTERNATIONAL BLOCKCHAIN CONGRESS11 Feb 2020
February 6, 2020
The fourth International Blockchain congress which held recently at the AON Center, Chicago, Illinois, USA was an avenue for Althash to establish itself as a strong voice in the comity of world blockchain service providers. The company was represented by her founder Amando Boncales and Brett Balog, CEO Codex, a token that rewards developers built on the Althash blockchain.
Both were on different panels offering in-depth as well as experienced views of how blockchain is changing various sectors of human endeavour especially the financial technology space. Amando Boncales who was on the DeFi, FinTech & Open Finance Panel was emphatic about blockchain as a service (BaaS), the only one to refer to it as such, while others maintained that it is Software as a service (SaaS).
He also presented an expose on the Memorandum of Understanding that Althash has signed with the Philippine government’s Department of Science and Technology in Davao, and also unveiled plans in the pipeline to engage others in South African Countries.
He emphasized that 95% of blockchain development is more on Financial Technology (FinTech) and that about 5% are working on other possible applications of blockchain. He stressed that Althash is focused on four major areas: Health, Education, Business, and E-Governance. He however revealed that there are ongoing Althash projects that the company is passionately pursuing and in due time, further information will be released to the public.
A major concern in the financial sector is the huge percentage of the unbanked and when the question was raised as to how the problem can be resolved by a member of the audience, Amando was quick to offer his remedy. He opined that blockchain technology can be used to create digital identities for people who do not have established financial records.
“This is a strong use case of how blockchain can help solve this pressing world wide issue that needs to be addressed to uplift people who are in need as soon as possible. There are about 1.7 billion people in the world who do not have access to financial institutions and blockchain technology is a promising solution for this problem”, he averred.
Brett Balog on the other hand spoke in The Convergence Revolution Panel which discussed the importance of blockchain and smart contract implementation in different industries. Julia Kong, an actuary at Milliman, and Elaine Ramirez, a blockchain journalist, were the other two panelists.
When asked by the moderator, Elaine Ramirez on how smart contracting can be implemented into corporate structures and existing businesses, Brett responded that there are factors that businesses will have to take into consideration, such as: change in business plans, administrative fees, knowledge on software, and scalability of blockchain to user base for each specific company.
The discourse then shifted to the question, which industry can best optimize blockchain? In response, Brett explained that most industries are fit for blockchain and smart contracts, depending on how one is able to implement them in those industries. He cited an example of how the energy industry can benefit from blockchain. He said via smart contract, prosumers can send energy to the grid through a blockchain based meter.
The conference afforded the Althash team the opportunity to network and connect with blockchain solutions seeking corporations who also got acquainted with the various Althash services. Of significance was a roundtable discussion facilitated by team members from Bank of America and hosted by Microsoft. In that discussion Amando shared the company’s experience as a blockchain firm that is based in Chicago and currently partnering with government agencies in Asia and South African countries.
A university constituent in one of the universities in Illinois also requested Althash to come and discuss some of her blockchain applications. There are therefore plans by the Althash management to have an official meeting with them to present the Althash Web Platform with its array of blockchain services and dapps including health suite on beta mode as Minimum Viable Product(MVP). The company was also invited to sign up with the Venture Management System, based in Chicago . With VMS, Althash will be able to offer proof to future investors of when the team creates a given project, software as a service, thereby bringing more authenticity and trust to the ecosystem.
There was a conversation with GRIP, an Investment Blockchain Multi-Asset firm based in Dubai to expand Althash’s tentacles in the Mediterranean and network for possible future connections. This will be followed up by Althash’s Business Development team.
A notable event at the conference was when Cryptomama, United States Securities and Exchange Commission (SEC) Commissioner Hester Peirce , presented the ‘safe harbour proposal’ for Token developers. This is a great development for the Cryptocurrency community and Althash in particular as it will help 3rd party developers host their projects on the Althash blockchain.
Compiled and edited by Sambright
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