The World’s biggest blockchain summit series is coming back to Dubai this October

More than 1000 delegates were in attendance at the 2017 Dubai edition, which gathered key international blockchain experts, government policy makers, and also witnessed a presentation on Dubai’s Blockchain Strategy.
Monday, 10 September 2018, Dubai: World Blockchain Summit has been on a world tour since last year, covering cities like Nairobi, Moscow, Frankfurt and Singapore on its way, and will touch down in the Emirates this October. The event is taking place on 24 – 25 October 2018, at the Jumeirah Emirates Towers in Dubai.
The summit is notably one of the first blockchain conclaves, since the recent blockchain boom, which started its global tour last year and is now set to travel to 15+ destinations all over the world. The event is particularly known to attract key government policy makers, enterprises, technology providers and blockchain enthusiasts from all over.
Ledger based services and startups have accumulated more than US$ 500 Million in funding globally, and this edition of the summit will put into perspective the diverse private and public sector adoption processes as well as the digitization of assets for business operations.
Another topic which has raised questions across the World is the ‘Need for Regulatory Commissions and Charter Laws’ for the wide scale adoption of ledger based technologies. As some governments remain either tight-lipped or mute around the subject, representatives from vocal governments will be taking part in an exclusive ‘All Government’ panel at the World Blockchain Summit Dubai. The panel will feature Mr Jason Hsu (Congressman from the Legislative Yuan Taiwan), Mr Bitange Ndemo (Chairman for the AI & Blockchain Task Force of Kenya), Mr Oleksii Mushak (Member of Parliament for Ukraine), Mr Gilbert Reveillon (President of ICT & Digital Economy, CNCCEF France), Mr Vit Jedlicka (President, Free Republic of Liberland) and Dr Ian Gauci (Partner at the Afilexion Alliance for Malta). The panel will discuss the regulatory landscape for nations, as well as talk about the ‘Future of Blockchain in Governance’.
Pitch competitions
The summit also hosts one of the world’s biggest ICO presentation platforms, the ‘ICO Grand Slam’, which is a dedicated platform for verified ICOs to pitch their idea in front of renowned investors and hedge funds. This will be taking place on Day 1 (24th of October, 2018) of the summit. ICOs stand a chance to raise up to US$ 1 Million in funding, as well as experience the global market first-hand!
Regional qualifiers of the ‘Startup World Cup’ will also take place at the summit, held in association with Fenox Venture Capital. The regional winner will win an all-expenses paid trip to San Francisco to compete at the finals of the ‘Startup World Cup’, and possibly walk away with an US$ 1 Million grand prize.
Mohammed Saleem, CEO of Trescon, has stated that “Dubai has always been a hub for technological innovations. It definitely surprised us, when we had a stellar outcome for the first summit in 2017. We now know that we cannot expect anything less from the ‘City of Gold’, and are now committed to turning Dubai into the blockchain capital of the world”.
About Trescon:
Trescon is specialised in producing highly focused B2B events that connect businesses with opportunities through conferences, road shows, expos, demand generation, investor connect and consulting services.
For further details about the announcement, please contact [email protected]
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Australia’s NSW Tests Storing Driver’s License over Blockchain Tech

With the development of blockchain technology, more and more common things of everyday use are becoming digital. As it has recently been announced, the government of the New South Wales (NSW) in Australia will soon conduct a trial of digital driving liscenses.
The trial is set on November, 2018, when over 140,000 license holders in Sydney’s Eastern suburbs will get an opportunity to replace a traditional physical plastic card on a modern digital version of it, available via the Service NSW app.
The trial follows the last year attempt to digitize driving liscenses in Dubbo, when the participants got a chance to use their digital driver licence for proof of identity and proof of age to enter pubs and clubs, as well as to provide it for roadside police checks.
This year, the project will be powered by blockchain-based platform TrustGrid, the product of Australian data security company Secure Logic. The platform had been used to underpin the digital driver licence, enabling the state-wide roll-out of the digital identification play, with its tech used in both the Dubbo and the upcoming Eastern Beaches trials.
According to the company’s CEO Santosh Devaraj, digital driving liscenses are the tip of the iceberg, as he believes that modern technology will soon fundamentally change the way people interact with government:
“The era of standing in line to file government paperwork is coming to an end, as is our reliance on physical identification cards to establish your identity or proof of age with law enforcement or at licensed venues. These are mistake prone, time-consuming, expensive, and impractical ways to offer services.”
Being an advanced blockchain solution, which provides a secure, decentralised, and immutable ledger of transactions, the TrustGrid platform has a great potential to create new ways of storing private information, such as motor registration, birth and death certificates, medical records, property titles, as well as HSC, TAFE, and other academic results.
Devaraj commented:
“While it’s positive to see government pursue a platform that has the potential to save lives, people are right to be concerned about how their sensitive data is stored and could be exploited by hackers. Rather than a black and white method of opting ‘in or out’, TrustGrid could enable each individual to set the terms of their own digitised contract that governs exactly what personal information is disclosed through fine-grained consent and encryption policies.”
Australia is not the only example to implement these changes, it is becoming more and more common among the governments all over the world. In India, degree certificates are going to be issued on the blockchain, as well as birth certificates are being tested over the blockchain network. China continues working on powering their smart cities with the help of blockchain technology. Not so long ago, West African nation of Sierra Leone even held their Presidential elections over a blockchain network.
As the power of blockchain tecnology is becoming stronger and stronger, the number of traditional things turning digital continues to grow in progression.
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Bitcoin Price Analysis: BTC/USD Approaching Key Support Again

Bitcoin price was once again rejected on a test of resistance, so it’s now making its way back down to support at $5,800. This might also complete the descending triangle forming on the 4-hour chart.

Support might hold since bulls have been strongly defending this level for the past few months. However, the formation of lower highs is a bit worrisome for buyers. Still, the 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside or that support is more likely to hold than to break.
Also, RSI is turning higher after reaching oversold conditions, signaling that buyers are taking over while sellers take a break. Stochastic is also on the move up to indicate the presence of bullish momentum.
If support holds, Bitcoin could revisit the triangle resistance or even attempt to break higher. A move below support, on the other hand, could spur a selloff that’s the same height as the chart pattern, which spans $5,800 to around $10,000.

Reports that the SEC has decided to suspend the trading of the Bitcoin Tracker One and Ether Tracker One exchange-traded notes issued by XBT Provider AB weighed on sentiment early in the week as this does not bode well for future announcements.
In particular, traders are wary that the regulator would likely reject the remaining Bitcoin ETF applications and might cite the same reasons as this suspension. Their official order stated that the “lack of current, consistent and accurate information concerning Bitcoin Tracker One” led to “confusion amongst market participants regarding these financial instruments.”
Furthermore, the notice reiterated:
The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above quoted company.
Keep in mind that many are hopeful an approval of Bitcoin ETFs could launch the much-anticipated rebound for the cryptocurrency price this year.

Images courtesy of TradingView.
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Ethereum Creator Vitalik Buterin Says Crypto Growth Ceiling Is Near

While a lot of experts are arguing about potential ways of development of the crypto market, trying to forecasts the coins’ prices, some of them believe that the best days for cryptocurrencies have already gone.
Giving an interview at the Ethereum Industry Summit conference in Hong Kong, Vitalik Buterin, co-founder of Ethereum, said:
“The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.”
According to Buterin, last year, people’s awareness on cryptocurrencies and blockchain technology was growing rapidly and achieved its highest level in December, while major cryptocurrencies like Bitcoin, Ethereum, Ripple, and Bitcoin Cash were traded for their record prices and showed 10 to 300-fold returns.
Ethereum co-founder said that the development of the cryptocurrency market during its first six or seven years of existence was greatly attributed to the efforts of the blockchain community to achieve wider adoption. But now the issue of adoption has ceased to be a priority.
It is believed that, in the upcoming years, the industry will implement another strategy that won’t be focused on promotion and attracting new participants to the market. This new strategy will be aimed at enhancing the usability and facilitating the access to decentralized systems. Buterin believes that for the community real applications of real economic activity will be much more valuable than just interested people.
Though Buterin’s opinion is highly appreciated in the crypto community, some other experts have an opposite opinion. As for example, Jehan Chu who is a managing partner at Kenetic Capital, blockchain investment and advisory company, stated that there is still a chance for cryptocurrencies to grow. According to him, “there are deep reservoirs of value just waiting for the right trigger”.
As for ETH, it has lost over 85% from January when it was traded for its highest price in the current year. At the press time, it is traded for $197.34 as it is informed by CoinMarkerCap. ETH is widely applied for carrying out transactions on dApps that are built on the Ethereum network.
Despite their leading positions even such major cryptocurrencies as BTC and ETH are significantly influenced by various external factors. For example, these cryptos experienced another wave of decline after the news that Goldman Sachs Group Inc. is going to postpone its plans to launch a crypto trading desk.
Commenting these changes in prices, Buterin stated that he is not certain about his opinion about institutional trading of cryptocurrencies. “Ultimately if all that cryptocurrency is, is this thing that millionaires keep buying and selling to each other, then what have we really accomplished?”, he said.
It is predicted that ETH may loss even more and fall down to the level of $155. Nevertheless, its current price still reflects a 2,000% advance if compared with the sum that it was traded for in the end of 2016.
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A Colourful Delight of Art Takes over Blockchain Conference

Nowadays everyone can enjoy the excellent works of art not only at various exhibitions and in museums, and the upcoming Crypto G20 analogue is proof of that. The conference will raise art to a new level, making it extremely technological and futuristic: an auction of paintings will be held within the Futurama Blockchain Innovators Summit. One of the brightest authors of such paintings is Nanu Berks,  who has created a new spin of Art called decentralArt.
Nanu will showcase her popular crypto based Art in an Auction in the Futurama event and will speak on stage talking about her Blockchain Art Movement Initiative. Like the rest of us, she believes in the decentralisation of power and redistribution of wealth and resources.
With Blockchain technology helping in the freedom of expression, compassion, innovation and technological advancements, there is more to look forward to in the industry. She will explore the endless opportunity that Art has in connection with Blockchain, and the spirituality that lies beneath.

Nanu Berks:
“Art is the soul language of all movements. I’m here to decentralArt.”
Every artwork that will be presented within the summit tells a story of blockchain and cryptocurrency. Whether it is Blockchain’s emergence, or the adaptation of Bitcoin they all personify the future of technology.
The painting above called the FMBB (“The Feminine Male Side of the Blockchain Balance”) Piece has travelled the world creating conversations among different languages. It is composed of recycled materials from wood that was found to spray paints leftover in the city of Austin.
The painting has been featured in New York City’s Cryptohou.se during the Blockchain week 2018 and in Los Angeles for the LA Dreams Expo. If you turn the painting to the other side, it reflects another spectacular art piece.
The two sided art piece will be auctioned at Futurama Blockchain Event, with 60% of the proceedings being donated to reforestation or wildlife efforts. Nanu gives a chance of sneak peeking into the painting, so that people can take photos of it before it is bought by the respective art lover.
Attendees of the conference will also partake in Tech savvy paintings, by free flowing onto a light background. Once the art is creatively designed it is turned to t-shirts and cards which the attendees can take back as a memory similar to Blockchain’s recollection of data thanks to transparency.
Besides art speakers, around 300 decision makers, among who are Brock Pierce, founders of Exchanges (EXMO, Golix, BitInka, Bithumb, Coinsbank), investors, such as Roger Ver, and expert cryptocurrency legal counsellors, are expected to take the opportunity to network, analyze and debate the latest blockchain and cryptocurrency industry trends.
For this retreat the agenda will emphasize on the cyber-security of the crypto exchanges and the hacking in the industry’s assets, the process of ICO listing, while featuring regulatory authorities willing to attract crypto-capital and framework for the operations of crypto exchanges.
Most popular personalities in Blockchain and Cryptocurrency will colour Futurama Blockchain Summit in a way never imagined. They will take you on an adventure with insights into the different social experiments carried out. From a mix of crypto and colour which is a spiritual feeling by itself to debates and insights into the next wave of Blockchain events and Cryptocurrency revolution.
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China Allows Evidence Authentication Through Blockchain

In what seems like a substantial breakthrough for the field of distributed ledger technologies, China has made blockchain records admissible in courts. The move will supposedly improve the resolution of internet-related legal disputes.

A Significant Breakthrough
The Supreme People’s Court of China released provisions Friday, September 7th, providing further clarifications for the litigation procedures of newly formed courts specialized in handling internet-related cases.
A specific section of the documents stated that the internet courts, as they are commonly referred to, shall recognize digital information if it’s verified by certain methods, including digital timestamps, signatures, and blockchain. Reportedly, the new provisions are entered into effect immediately.
According to patent lawyer Zhang Yanlai, using blockchain as a method for evidence authentication is appropriate because it is “secured, efficient, convenient, and low in cost.” It’s worth noting that, traditionally, courts depend on third-party notary authentications to validate evidence and to make them admissible in courts, hence why the new provisions are of such significance.
The first court to handle internet-related disputes in China was set up in Hangzhou back in August 2017, while the second one opened yesterday, September 9th, in Beijing. The country is also planning to open another one in Guangzhou by the end of the month.

Pro-Blockchain?
China has a somewhat specific position on the cryptocurrency market. While the country is continuously clamping down on the usage of digital currencies, it seems to be a lot friendlier towards the technology which underpins them.
Yet, despite the country’s nationwide ban on offshore exchange trading and Initial Coin Offerings (ICOs), China recently announced the launch of a $1.5 billion investment fund to incentivize the development of blockchain-based technologies.
Going further, back in April, the city of Hangzhou launched another massive fund of $1.6 billion intended to empower companies which are occupied within the field of blockchain.
What do you think of China’s recent move to allow evidence authentication through blockchain? Don’t hesitate to let us know in the comments below!

Images courtesy of Shutterstock.
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SEC Suspends Exchange-Traded Vehicles by CoinShare Holdings for Bitcoin and Ethereum

The U.S. securities watchdog – Securities and Exchange Commission (SEC) – has shunned down yet another investment vehicle in the crypto space. In a major setback for cryptocurrency investors, the SEC announced suspensions of two funds – Bitcoin Tracker One (“CXBTF”) and Ether Tracker One (“CETHF”).

The Securities and Exchange Commission announced the temporary suspension of trading in the securities Bitcoin Tracker One (“CXBTF”) and Ether Tracker One (“CETHF”) commencing at 5:30 pm EDT Sept. 9, 2018 and terminating at 11:59 pm EDT Sept. 20, 2018. https://t.co/5z1vEYFBFB
— SEC_News (@SEC_News) September 9, 2018

A Sweden-based subsidiary of CoinShares Holdings, called  XBT Provider AB issued these two funds. In the official order, the SEC provides the reason of suspension stating a “confusion amongst market participants” in the United States. Note that it is an interim suspension which will come into effect from 5:30 p.m. EDT, September 9, till 11:59 p.m. EDT, September 20.
The official order notes that trading on other non-U.S crypto exchanges shall not be interrupted during the suspension period. The release reads:
“The broker-dealer application materials submitted to enable the offer and sale of these financial products in the U.S., as well as certain trading websites, characterize them as ‘Exchange Traded Funds.’ Other public sources characterize the instruments as ‘Exchange Traded Notes.’ By contrast, the issuer characterizes them in its offering materials as ‘non-equity linked certificates.’”
Funds Launched For U.S. Investors In August 2018
The SEC calls this decision to be in the “public interest” with the purpose of ensuring “protection of investors.” These two funds have been trading on the Nasdaq Stockholm exchange since last three years. U.S. investors got the opportunity to invest in these funds for the first time last month, after their launch in the U.S market.
Ryan Radloff, the chief executive officer of CoinShares Holdings Ltd., the parent of the company that offers the ETN, then said:
“Everyone that’s investing in dollars can now get exposure to these products, whereas before, they were only available in euros or Swedish krona.” Continuing, he said, “Given the current climate on the regulatory front in the U.S., this is a big win for Bitcoin.”
Bloomberg publication deemed this as a “soft opening” of the public markets cryptocurrency trading. The publication noted that these funds against the more sophisticated exchange-traded-funds (ETFs). These funds provide an immediate way to investors to get the cryptocurrency exposure to U.S dollars.
The Cryptocurrency ETF War With SEC
Cryptocurrency ETFs remain as one of the most awaited products in the crypto market. There are high expectations of better institutional participation in the crypto space with the launch of cryptocurrency ETF. Several proposals for Bitcoin ETFs have been shunned down by the SEC so far citing reasons of high market volatility and risks.
Analysts say that there are fewer chances of the SEC approving the Bitcoin ETF product before 2019. The Bitcoin ETF proposal by CBOE exchange has stirred a lot of interest among crypto investors. But the SEC has also postponed its ruling to this month end, and is expected to be delayed further.
Although everyone looks quite optimistic about the arrival of Bitcoin ETF, Andreas Antonopoulos says they could prove to be detrimental in the long term. He believes that ETF products allow investors to hedge the crypto asset’s price without actually holding them. Thus in the long run, it can possibly affect the price of the digital currency.
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Submarine Swap: A New Lightning Network Innovation

It’s still relatively new information that bitcoin addresses are not compatible with lightning ones. This means that users can’t send crypto from a lightning address directly to a bitcoin one, and vice versa. That all can change when the submarine swap technology gets integrated. In order to see how the submarine swap technology can address this issue, let’s look at the core issues:
It’s counter-intuitive, that the two-layer technology for transactions, is intended to revolutionize the protocol to scale – even more users and more transactions. Yet somehow, there is still the incompatibility between the new and old transactions.
Many possible ideas have started to flow around, but one developer, Alex Bosworth is already working on a possible solution. He’s building his project on the interoperability tech known as “atomic swaps.”  If successful, the technology will allow users holding tokens on different blockchains to trade directly. This eliminates the entire risk of one party “taking off” with the other’s money before the trade is finished.
The technology is called “submarine swaps” and is currently ongoing live testing on the lightning network. Keep in mind that even though you can use it, it’s still extremely untested. The lightning network by itself is a very new technology and trying out the network at this time is not recommended.
In order to progress on his own work, Bosworth has set up a connection between the lightning network and the bitcoin blockchain. At the moment it only supports money being send from the blockchain to the lightning network. It’s not known when the reverse path will be made use of. Swapping from lightning to blockchain will without a doubt be available soon and will quickly be integrated into every wallet. Bosworth believes that in the near future, every wallet will support the technology. A wide-scale implementation would mean that any coin can be send to a lightning address.
The submarine swap technology has the potential to change payments overnight
The technology, will probably have some needs as well. One such need is the “refilling” of lightning channels. This will be a pesky issue, because users need to set up channels with a set amount of money. This also has transaction fees, which unfortunately surge when there are more crypto transactions.
If you set up a channel for $50 worth of crypto, you can quickly use the funds because of transactions. So how to avoid opening up an entire new channel and paying more fees? A cheaper alternative would be to top up the existing channel with a submarine swap, effectively trading on-chain funds for extra off-chain ones.
If we look at the possibilities: a website like satoshis.place is made entirely for lightning payments. With the implementation of submarine swap, users will be able to pay in any coin they wish.
There will also be interesting possibilities for crypto-to-crypto exchanges. Atomic swaps are currently seen as the main technology, but submarine swaps will improve the job exponentially. This is mainly due to the fact that in order to make an atomic swap, both cryptocurrencies need lightning enabled. At the moment there aren’t that many cryptocurrencies with a functioning lightning network. Submarine swaps will require only one side to have implemented the lightning network. This will lighten developer work by a huge margin.
Earlier this year, Bosworth shared many of his hopes and visions for the future development. There is a long road ahead before his envisioned future can come to pass. We can only hope that the many challenges he faces, will eventually be overcome and many people throughout the world, will enjoy the benefits of this new and exciting technology.
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Submarine Swaps Allow Users to Send Their Bitcoins to Lightning Network

Bitcoin’s scalability solution Lightning Network – a two-layer technology enabling off-chain transactions – has made significant progress over the last year. But one thing that lags in the development is that the Bitcoin address and Lightning address are not compatible. It means that the direct money transfer from Bitcoin address to Lightning address, or vice versa, is not possible.
Currently, this fund-transfer is possible by implementing an additional step of transferring lightning funds to user’s BTC account. The Lightning network aims to cater to more users on the Bitcoin network and improve transactions speeds while keeping costs low.
Lightning Labs developer Alex Bosworth has proposed a solution called “submarine swaps” to solve this incompatibility issue. This interoperability solution takes inspiration from atomic swaps for seamless fund transfers between off-chain lightning and on-chain bitcoin platform. Atomic Swaps is a technology that facilitates trading between digital assets of different blockchains without the need of middle-men.
‘Submarine swaps’ is currently in the pilot phase of testing, done live Lightning network. Bosworth has warned that ‘submarine swaps’ is still in the development phase, and using it can be risky at the moment.

Testing has started on mainnet submarine swaps. Talking with partners who want to be a part of deploying swap providing liquidity, integrate swaps into their platforms, and help complete mainnet hardening dev work. Still lots to build but it’s more fun to try on mainnet #reckless
— Alex Bosworth ☇ (@alexbosworth) August 8, 2018

Currently, the submarine swaps only support one-way traffic of fund-transfer from Bitcoin blockchain to the lightning network. The developer is also working on a reverse possibility. Additionally, Bosworth also assumes a future scenario where the technology is available for other cryptocurrencies as well!
Refilling Lightning Channels Using Submarine Swap
Developer Bosworth has proposed several use cases for the submarine swap. An important one is the need to “refill” the lightning channels. Currently, Lightning network users have to set up a channel with a fixed amount of money in them.  The process of setting up new channels costs on-chain transaction fees, which increases with growing users of the cryptocurrency.
To overcome this issue, another approach is refilling the existing channel using the submarine swap and trade the on-chain funds for additional off-chain funds. Submarine swap’s crypto-to-crypto exchange could also prove to be a game changer in the coming times. Although ‘atomic swaps’ is perceived as the chief technology working behind it, it still requires lightning to be enabled on both digital currencies getting swapped. On the other hand, submarine swaps demand lightning enabled on only one side.
Bosworth believes that this could reduce the work of developers who wish to support a multitude of different coins. In a lecture, delivered earlier this year, Bosworth talks about “utopian swap future” with a variety of different swaps. He also talked about HTLCswaps that would allow users to trade Lightning payments for data.
However, he says that implementing Submarine Swaps involves “a lot of challenges” especially when the blockchain network has higher transaction volumes. Bosworth says “My concept was that swaps could be something that were very cheap to provide, like that a mobile phone could do.”
Bosworth also envisions a future where submarine swaps could be performed easily through smartphones.
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Explosive Cryptocurrency Growth Nears “Ceiling”, Vitalik Buterin Says

According to the co-founder of the second largest cryptocurrency Ethereum, Vitalik Buterin, the days of rampant and explosive growth in the prices of digital currencies are over.

No More 1,000 Times Returns
Speaking to Bloomberg at the Ethereum Industry Summit conference in Hong Kong, the co-founder of Ethereum Vitalik Buterin shared his two cents on the current state of the cryptocurrency field. According to Buterin, we are past the point where 1,000 times growth is possible:
The blockchain space is getting to the point where there’s a ceiling in sight.
He continued:
If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.
Ethereum’s co-founder also noted that the strategy of aggressive marketing which is what supposedly underpinned the growth in cryptocurrencies throughout the last years is no longer going to work:
That strategy is getting close to hitting a dead end.
Buterin sees real application of blockchain technology as the next step forward.
Saying No to Institutional Investors
While many are waiting for the SEC to rule on the commodity-backed VanEck/SolidX Bitcoin ETF as means to allow institutional investors to step in the market and trigger a rally, Buterin seems to share an entirely different philosophy:
I honestly don’t think this stuff matters much. There’s honestly a part of me that would be happier if institutional trading of cryptocurrencies did not happen at all for another five years.
Buterin continued:
Ultimately if all that cryptocurrency is, is this thing that millionaires keep buying and selling to each other, then what have we really accomplished?
In any case, it’s worth noting that Ethereum is having a very rough 2018, having lost nearly 80 percent of its value since the start of the year. At the time of writing this, the cryptocurrency trades at $199,06, marking a slight recovery of about 4 percent in the last 24 hours.
What do you think of Buterin’s stance on the state of the cryptocurrency market? Don’t hesitate to share your thoughts in the comments below!

Image courtesy of ShutterStock
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