ConsenSys Releases Whitepaper At Dubai’s World Government Summit
At the World Government Summit in Dubai (February 12-14, 2017), ConsenSys released a paper titled “Blockchain, Hyperconnectivity, and the City of the Future,” that offers governments a clear roadmap to harness the power of blockchain technology and ways to implement robust blockchain strategies.
According to the World Government Summit website:
“The World Government Summit brings together prominent leaders from the public and private sectors, as well as international thought leaders and pioneers. They engage in inspirational, thought-provoking, and future-focused dialogues that aim to shape the future of governments and help improve the lives of citizens worldwide.”
The Whitepaper – a product of collaboration between ConsenSys and Vinya Gupta, technology strategist and founder of Hexayurt.Capital (a venture capitalist fund dedicated to building the Internet of Agreements™) – explores how national and municipal governments can leverage the technology to accelerate smart cities and IoT initiatives, improve services like healthcare and transportation, and make strides towards financial inclusion.
With an audience of over 3,000 world leaders, policy makers, international organizations and experts from over 130 countries, and this year’s prominent speakers, which included Elon Musk, Travis Kalanick, and Reid Hoffman, the World Government Summit is the ideal platform for ConsenSys to present their ideas on how blockchain is poised to transform governments’ ability to serve their citizens.
In 2016, Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, announced plans for Dubai to become “the first government in the world to execute all its transactions using blockchain technology by 2020.” With this ambitious declaration to usher in blockchain technology across the country, Sheikh Hamdan launched the highly selective Dubai Future Accelerator.
Hosted by the Dubai Future Foundation and the Government of Dubai, the program is designed to identify emerging technologies with the potential to address the world’s most pressing challenges, and to support development of prototypes for rapid deployment across Dubai. The Accelerator elicited a staggering response, drawing over 2,000 companies from 73 countries competing for 35 places.
ConsenSys was one of the companies selected to participate in the first round of the Dubai Future Accelerator program and was paired with Dubai Holdings, one of the world’s leading sovereign wealth funds. Significant results from the collaboration have been reported in a statement with details announcing in the coming weeks.
In November 2016, ConsenSys partnered with the Prime Minister’s Office of Dubai to organize Blockchain Virtual GovHack, the largest virtual blockchain hackathon in history, with 1011 participants of 41 nationalities working on 131 projects. ConsenSys founder Joseph Lubin and Chief Strategy Officer Samuel Cassatt served as judges along with executives from IBM and Microsoft, and Dubai government officials. Winners of the hackathon will be announced at the World Government Summit and $140,000 in prizes will be awarded to technology pioneers with the best ideas for blockchain-enabled solutions to global challenges.
Hessa Essa Buhumaid, the Assistant Director General for Government Services and Pioneership at the UAE’s Ministry of Cabinet Affairs and The Future, said:
“The Blockchain Virtual Gov Hack, which is part of the World GovTechioneers Race, has received a high uptake from across the globe, reflecting the great international interest in developing government work through utilising latest technologies to serve societies. Our partnership with ConsenSys, a leading company in the blockchain space with a strong growing presence in the region, added a lot of value to the hackathon.”
“Global challenges force governments to forecast the future and stay ahead of possible changes. Recognising talent and innovation is crucial for enriching the global knowledge landscape and enhancing the quality of government services.”
ConsenSys has had a strong presence in Dubai since it began participating in the Dubai Future Accelerator program and Lubin has indicated that he expects that relationship to continue, saying:
“We are thrilled to see Dubai emerge as a home for fast forward, broad focus blockchain innovation, and are looking forward to ongoing opportunities to work with Dubai government and corporates towards accomplishing many ambitious goals. We are grateful for this outstanding opportunity to demonstrate blockchain use cases for government with focus on increasing quality of life in Dubai, and visibility to promote widespread adoption.”