Bitcoin

First BSV Global Blockchain Convention to be Held in Dubai

Burj Khalifa with bsv global blockchain conference logo

The BSV Global Blockchain Convention has announced that its first event will be held in Dubai on May 24 to 26, 2022. The three-day convention will take place at the Grand Hyatt Dubai, a famous five-star luxury resort located in the heart of the metropolis. 

The convention will also be livestreamed, and anyone can watch for free in the comfort of their homes. The goal of the BSV Global Blockchain Convention is to show the world the real benefits of the BSV blockchain across many different types of industries.  

The BSV Global Blockchain Convention is produced by billionaire and philanthropist Calvin Ayre, who is also the founder of Ayre Ventures and media site CoinGeek, which aims to set things right when it comes to widespread misinformation about Bitcoin and blockchain.

“As BSV has expanded so significantly since the last conference—mostly handling over two million transactions a day now—we felt that the Convention needed to offer a wider remit to its delegates. As larger companies and even governments become interested in the power of the BSV Blockchain, the Convention also needed to more directly reflect what is on offer in Dubai this May,” Ayre said last January 31 in a press release.

At present—just less than three months after the press release—the BSV blockchain has already been completing 4GB data blocks and completing over 10 million transactions per day. This is because one of the first things BSV did since its founding is to restore the original Bitcoin protocol according to the Bitcoin white paper. 

This has paved the way for limitless scaling to be unleashed, which means that as BSV scales, block size and throughput, which is measured in transactions per second (tps), continue to increase while transaction fees are further reduced to infinitesimal fractions of a penny. 

And the BSV blockchain’s powerful capabilities have been recognized by the Ras Al Khaimah Royal Family. The BSV Global Blockchain Convention is under the high patronage of His Highness Sheikh Saud bin Saqr al Qasimi, Member of the Supreme Council and Ruler of Ras Al Khaimah and the Ras Al Khaimah Chamber of Commerce. 

The United Arab Emirates (UAE) is known as one of the most avid blockchain adopters as a nation. It aims to become a global technological leader, surpassing the western world in the future, which is being more careful when it comes to dealing with emerging technologies like blockchain. 

Seeing real value in being 10 years ahead of its time, the UAE has been actively working with innovative enterprises in order to widely adopt blockchain in government, as well as in schools and private businesses. 

“We think that for Dubai, and the UAE in general, implementing blockchain will be a start towards the 10X vision, which we’re looking at. We want to be ahead of the world by ten years and have blockchain implemented completely in the country. So, everything and every transaction will be on the blockchain,” Dr. Eesa Bastaki, President of the University of Dubai, said in an interview. 

Over the past couple of years, Bitcoin Association, the Switzerland-based global industry organization that is advancing the enterprise adoption of the BSV blockchain, has successfully built business relationships in the Middle East. 

Earlier this year, a partnership between Bitcoin Association and the University of Sharjah was finalized. A research and development agreement has been signed that will enable the creation of an academic certification and accreditation platform on the BSV blockchain. 

The platform aims to resolve the issue of fake degrees and the time-consuming process of attestation in the Middle Eastern country. The R&D project is headed by Dr. Mohamed Al Hemairy and Dr. Manar Abu Talib, both from the University of Sharjah.

“Everybody is announcing [their academic credentials], and everybody should be proud of their academic credentials. The issue is that we don’t know if this information is valid or not. There is a lot of fake information and misconduct related to academic achievements or academic degrees. So, it is for that purpose—making all this information public, but in a transparent and decentralized environment using the blockchain—that we are looking to design our project,” Dr. Al Hemairy explained. 

The BSV blockchain has been chosen to be the blockchain on which the platform will be built due to its ability to scale that allows for a massive amount of data to be processed almost instantly at a very low cost. 

“This is for many reasons. One is the large block size on the blockchain, which really fits the project scope. We need to write a large data set, including the transcript, academic credentials, student details and institution details, and maybe even module descriptions for each course the student has been taking through their academy journey, which requires a larger block size,” Dr. Al Hemairy pointed out. 

“The transaction processing is very fast and this is one of the features and advantages. Also, the cost is not comparable with any of the existing networks, and for all these reasons together we selected the BSV network to build our system on,” he added. 

Blockchain technology has ramped up adoption over the past year, and the BSV blockchain is leading the pack when it comes to transparency, efficiency, stability, security and cost-effectiveness. The BSV Global Blockchain Convention is the perfect venue to showcase these capabilities and let people know how it can do the world a lot of good. 

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