Cryptocurrency News

Can Indian crypto and blockchain community citing India Dapp Fest 2019 convince Law Makers?

The Blockchained India is the largest community to encourage blockchain revolution in India. The team has come up with a mega five-day conference, ‘India Dapp Fest 2019’ in Bengaluru, the Silicon Valley of India from June 11th, 2019 – June 15th 2019. The community aims to present a draft report that is blockchain-friendly, to the governmental authorities, and it seeks to voice all the stakeholders in the industry.

The India Dapp Fest is a follow-up event to it’s Nationwide Roadshow, successfully organized across top cities in the country during the month of March and April.

Throughout the roadshows, more than a thousand professionals have contributed and gathered their insights to prepare blockchain-friendly regulation draft report.

The conference is set to showcase the Dapps and blockchain based platforms at the Hackathon during the first three days of the event  and a more specific and intense conference for people working in the industry seriously, during the next two days.

The venue for the hackathon is IndiQube Alpha Building whereas the venue for event is the Lalit Ashok Bangalore.

The conference is set to outline the:

  • The regulations and what they will mean to the blockchain community in India
  • The best policies that the Government can adopt in the future policies concerning crypto and blockchain at large
  • The display of impacts this will have on the entrepreneurship and innovation circles in the country and more.

As the conference rallies with the immense passion, it can assume adoption and awareness of crypto and blockchain technology which can make the country more successful in this arena. The records on the Internet reveals that the organizers of the Dapp Fest are the same who organized Ethereum’s Joseph Lubin, another exciting event, last year. This time, they are set to bring in the biggest names from the industry, more than 40 in number.

Stay tuned and know more about India Dapp Fest’ via it’s official website – https://www.indiadappfest.com/

Bahrain Takes Step Towards Cryptocurrency Regulations

Bahrain’s Central Bank has worked towards a comprehensive set of cryptocurrency regulations. These regulations include licensing, governance, anti-money laundering, avoidance of conflicts of interest, cybersecurity, and risk management.

The executive director of banking supervision at the Central Bank of Bahrain, Khalid Hamad, briefly explained the need for the comprehensive cryptocurrency regulations in the country. He was quoted saying,

“The introduction of the rules relating to crypto assets is in line with its goal to develop comprehensive rules for the fintech eco-system supporting Bahrain’s position as a leading financial hub.”

Bahrain – Opening Cryptocurrency Door to the Middle East

Bahrain taking a pro cryptocurrency stance could set the pace for cryptocurrency regulations throughout the Middle East. The regulations highlighted due diligence for new clients, encrypted safe custody accounts, along with insurance to better cover cryptocurrencies against hacks or thefts.

Bahrain’s central bank has already launched a regulatory sandbox which allows blockchain and cryptocurrency companies to work well before the established regulations on the technology.

At the beginning of 2019, the University of Bahrain announced the issuance of diplomas on Blockchain. It employs the Blockcerts open standard in partnership with Learning Machine.

This month, February Bahrain opened the Bahrain Bay of Financial Technology. It includes more than 30 companies which are dedicated to cryptocurrencies and digital payments.

Middle East’s Blockchain and Crypto Leader

Bahrain has always been the epicenter for financial banking. However, countries such as the UAE and Qatar are using Blockchain to gain an advantage over banking in the Middle East.

It will be interesting to see which Middle Eastern country creates the next big blockchain company and has a more favorable regulatory climate when it comes to cryptocurrency.

Subscribe to our newsletter The Raven’s Dispatch!

Interested in more crypto content? Check out Financial Giant SBI to Launch a New Crypto Exchange and MDW Partners With Bitfury and Longenesis