The United Arab Emirates to be the host of this year’s first blockchain aviation conference since the presence of the blockchain technology is increasing in the aviation industry according to official crypto news reports on April 1st.
The Emirates News Agency confirmed the announcement by also claiming that more than 800 people will attend the conference from 100 different countries. The conference will be named ‘’Blockchain: Unlock the Potential’’ and will focus on bringing the possibilities of the blockchain technology into the aviation industry and from there to a bigger, global level.
The press release shows that the event will be held under the organization of His Highness Sheikh Mohamed Bin Zayed Al Nahyan who is the crowned prince of Abu Dhabi. Other important figures which will attend the conference include the ministry of the economy of the country and the executive from the Heathrow Airport who will also be a speaker at the conference.
The United Arab Emirates (UAE) happens to be a host due to the strong efforts of the country to implement blockchain technology in multiple areas of the local economy. Saif Mohammad Al Suwaidi, who is the general director of the UAE’s General Civil Aviation Authority (GCAA) stated:
“Selecting the UAE is a testament to our leadership’s continuing efforts towards investing in new technologies across different domains including the aviation sector and in maintaining strong partnerships between the government and the private sector, and the continuous endeavours in exploring methods to improve aviation business practices in a dynamic and thriving environment.”
More details about the conference reveal that it will include blockchain apps for other parts of the industry such as finance deals and business-related processes. The event will take place in Abu Dhabi in two weeks time.
This is not the first event that the country hosts. UAE was a host to a fintech event and another conference that tackled cryptocurrencies and their possible use cases. However, this event received more supportive comments from the local authorities which only prove that the United Arab Emirates could become the next haven for digital assets.
The Chairman of the United Arab Emirates Bank Federation stated:
“It is essential that we develop frameworks and regulations that govern these technologies and developments.’’
TikTok Owner Launches Blockchain Venture With Chinese Media Group
"A unit of ByteDance has 49% of the new firm, which has registered capital of 10 million yuan ($1.4 million); Shanghai Dongfang Newspaper Co. owns the rest, according to a statement on the National Enterprise Credit Information Publicity System, an official business registration website," the publication wrote.As they show, the joint venture was launched in the capital of eastern China - specifically the Shandong province Jinan - on December 10. There was a registered capital of 10 million yuan ($1.43 million) where ByteDance owns 49% and the rest of the venture is owned by the Chinese media group.Meanwhile, TikTok is a giant and a social network with more than 500 million monthly active users. As such, it is the second most downloaded app in the Apple App Store in the United States. The short video feed is completely managed by a purpose-built AI which predicts and delivers content that the user will likely prefer.Even though it is still not clear how the TikTok owner ByteDance could benefit from the blockchain technology, a possible use case shows that the collaboration might extend to digital media data verification. For instance, the US law enforcement Axon Enterprise aims to test blockchain for its body cameras and fight deepfake AI-generated videos.Meanwhile, recent reports in the blockchain news today show that the technology is rapidly maturing and seeing wide adoption in China. As we reported before, earlier this month the Bank of China issued 20 billion yuan ($2.8 billion) in blockchain financial bonds as reports showed. China is also expected to conduct the first real world test of its central bank digital currency in the near future.All in all, TikTok is a major player and since it taps into a technology like blockchain, we can expect many new developments and potential use cases for the tech that is backing cryptocurrencies like Bitcoin in the future.
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