The Bali Blockchain Summit: A Game-Changer for Emerging Markets
In a groundbreaking event sponsored by Mandala Chain, the Bali Blockchain Summit brought together government officials, tech experts, and business leaders to discuss strategies for advancing blockchain technology not only in Indonesia but in other emerging markets as well.
Indonesia is on a mission to become a global leader in the digital economy by incorporating key technologies like artificial intelligence, IoT, metaverse, quantum computing, and blockchain into its long-term vision, known as the “Indonesia Golden Vision 2045.” Blockchain technology is at the forefront of this vision, offering improved transparency, security, and efficiency in both public and private sectors.
Denpasar Mayor Gusti Ngurah Jaya Negara emphasized the transformative power of blockchain, stating that it will drive Indonesia’s prosperity by enhancing transparency and efficiency for the public good. Speakers at the summit showcased practical applications of blockchain, ranging from land registry and public health records to product authentication.
Mandala Chain, in collaboration with PANDI, announced plans to integrate its IDCHAIN solution with government agencies to onboard over 10 million users. Additionally, the company is partnering with Polkadot and KILT Protocol to expand blockchain infrastructure beyond Indonesia, with a focus on emerging markets. The goal is to leverage Polkadot’s scalable technology and KILT’s digital identity solutions to create a framework for rapid growth in these regions.
The summit coincided with the release of a comprehensive guide by Polkadot on funding options available for blockchain projects and individuals. The guide covers various funding sources, including venture capital, grants, and community-driven initiatives, with a focus on areas such as DeFi, gaming, and infrastructure.
In summary, the Bali Blockchain Summit highlighted the immense potential of blockchain technology in driving economic growth and innovation in emerging markets. By embracing blockchain solutions, countries like Indonesia can unlock new opportunities for transparency, efficiency, and prosperity in the digital age.