Jakarta, Indonesia–(Newsfile Corp. – May 21, 2022) – Organised by Everscale, the Renaissance Bali Uluwatu was the stage for
The Future of Blockchain in India and Indonesia Panel
Moderator on the left and speakers in order: Andry Suhaili (CEO of x0swap.com), Aditya Uozumi (Founder of masamune.io), Fadzli Shah Bin Anuar (Founder of MX Global), Irvan Tisnabudi (Founder of coinstore.com), Henri Morgan Napitupulu (Founder of IndoCoin Nusantara trust Ltd)
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From a regulatory perspective, there are two different factors at play: regulations for digital asset creation and regulations for the trading of digital assets. For digital asset producers the regulatory landscape is still relatively undeveloped; whoever has the resources and desire to do so can create their own assets. What has helped is the willingness that the government has shown to cooperate with projects like this, offering Ministry of Trade and Finance registrations and OJK licenses.
For crypto exchanges facilitating digital asset trading, regulations are already quite advanced. In order to operate within the country, crypto exchanges have to get all the proper licenses and permissions from ministries and local authorities.
Regulatory development in Indonesia is helping to make investing in digital assets safer and easier. And it is also turning the country into an enticing environment for new projects. It is perfectly reasonable to see blockchain technology becoming more than just a financial instrument and driver of the gaming industry, and getting integrated into real estate and land management, agriculture, transportation, ecommerce and a host of other sectors.
Speakers at the conference also tackled another big issue facing the whole industry, namely the ecological complications of Bitcoin and how blockchain technology can be aligned with ESG principles (ecological, social, corporate governance principles). There was a consensus among speakers that new technological developments in the space have been aimed at creating sustainable and fast solutions, as well as building bridges between blockchains which will create a more integrated ecosystem compared to the existing one.
A special panel discussion was devoted to DAOs – Decentralized Autonomous Organizations and called “DAO Funds: the Future of Interoperability.” The DAO is a very new concept that is capable of being introduced to certain blockchains like Ethereum, Solana, Everscale and Polygon. DAOs allow communities to make decisions in a transparent and decentralized fashion.
DAO Funds: the Future of Interoperability Panel
Moderator on the left and speakers in order: Vasily Smekalov (Managing partner at Ever Fund), Victor Lee (Core team member of Huobi Ventures), Egor Gavrilov (CTO of XDAO), Kristina Lucrezia Corner (Editor-in-Chief at CoinTelegraph) , Fong Jek Gan (Founder of Millennia Ventures)
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Editor-in-Chief at Cointelegraph, Kristina Lucrezia Corner opined, “The DAO structure is still being shaped; there are many challenges but a future is opening for us in which DAO-based ecosystems place communities at the center of all organizational and life processes.”
According to Vasiliy Smekalov, of ever.fund GP, “DAOs already allow participants to transparently collaborate and distribute money for certain goals. In the future, this kind of system can possibly help governments to eliminate corruption at all levels.”
Crucial changes have occurred in global finance over the last two years, including the issuing of digital coins by some of the world’s largest central banks. For the first time in Bali, experts from Europe and Asia met in person during the EVERPOINT conference to discuss this issue. There was a panel discussion devoted to the topic, where experts debated whether there would be more CBDCs, their influence on the global economy and how they will compete with stablecoins.
Here are some of the thoughts shared at the conference:
Dave Pulis, ZBX exchange: “By now 3 central banks have officially launched digital currencies: the Bahamas, the Caribbean and Nigeria, – but this year Great Britain also announced that it is considering the creation of their own Britcoin. Were this to happen it could have a further domino effect and give governments more leverage to control money flows.”
Alexey Antonov, investment director of Algalon Capital: “It looks like CBDC has 2 sides as it serves both the government in its pursuit of its own goals and the people by increasing access to funds. These kinds of systems can help to prevent corruption, but they will also definitely decrease the role of traditional banking because CBDC provides a direct link between people and central banks”.
Leaders of the crypto industry from more than 20 countries come to Bali to discuss industry trends and challenges and the specific opportunities presented by the launch of the Everscale blockchain in Asia. For Indonesia, the launch means that the country will officially have an ecosystem in which crypto projects can launch using the most modern and fastest blockchain technology.
Everscale is a new and unique blockchain design that proposes a scalable decentralized world computer paired with a distributed operating system. Everscale is based on a platform called Ever OS, capable of processing millions of transactions per second, with Turing-complete smart contracts and decentralized user interfaces.
Everscale presents some new and unique properties, such as dynamic multithreading, soft majority consensus and distributed programming, which enable it to be scalable, fast and secure at the same time. It is governed by a decentralized community founded upon meritocratic principles via the Soft Majority Voting protocol.
Everscale has powerful developer tools, such as compilers for Solidity and C++, SDK and API, client libraries ported to more than 20 languages and platforms, a range of decentralized browsers and wallets empowering many applications in DeFi, NFT, tokenization and governance domains.
The network’s incomparable scalability has been achieved thanks to its dynamic sharding mechanism which enables it to process millions of transactions per second and charge infinitesimal transaction fees. This sharding mechanism gives the network its unique ability to adapt itself to any load size, which in turn, allows it to process millions of transactions instantaneously and at near-zero fees.
Built to be able to handle a massive amount of users, in the two years since Everscale launched it has made significant progress towards its goal of offering users a completely decentralized, safe and limitlessly scalable DeFi experience.
The Everscale network has built up an inclusive and diverse ecosystem around itself, with a native DEX names as FlatQube, which will soon feature its own order book and where users can make exchanges between different kinds of digital assets and engage in yield farming and staking mechanisms with high APR rates; a native digital asset wallet; a cross-chain bridge platform named as Octus Bridge that allows users to send liquidity between other networks and Everscale; a DAO-controlled launchpad named as EverStart and an NFT marketplace. Of these Everscale platforms, Octus Bridge and the FlatQube DEX have been enjoying remarkable growth of late, with the latter experiencing a doubling of its TVL over the past month, to where it now numbers well over $80 million.
Media Contact: Raghav Sawhney
Email: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124921