Scitech trend

Rethinking blockchain economy

Scitech Report

31 May, 2021 12:00 AM printer

Rethinking blockchain economy

Bangladesh should embrace the emerging technologies like blockchain to coop with the future trend of economy, experts told an international summit.

Addressing a two-day summit held virtually recently, speakers also emphasised on knowledge sharing on new ways of leveraging the technology in field of economy.

Fasset, a platform of ethical financing for sustainable infrastructure, organized the ‘Blockchain Economy Summit 2021’ in association with Lict project of ICT Division and Inspiring Bangladesh.

Prime Minister’s Advisor Salman F Rahman was the chief guest while Bangladesh State Minister for ICT Zunaid Ahmed Palak was special guest on the occasion.

Bangladesh Investment Development Authority (Bida) Bangladesh Investment Development Authority (Bida) executive chairman Sirazul Islam, Bangladesh Security Exchange Commission(Bsec) chairman Shibli Rubayat Ul Islam, Japan Ambassador Naoki Ito, BASIS president Syed Almas Kabir, LICT Policy Advisor Sami Ahmed, BGMEA former president Rubana Huq and Pathao founder and CEO Hussein M Elius were connected to different sessions as guest speakers.

Fasset CEO Mohammed Raafi Hossain, a former advisor to the ruler of Dubai, and Director Misha Ali and Inspiring Bangladesh founder Imran Fahad also connected to the summit.

Advisor Salman F Rahman said the blockchain technology seeks to completely challenge and overhaul the way we have learned to manage assets and organizational and government boundaries around them.

“We must not forget that blockchain has emerged as a potent idea in response to bureaucratic incapability around the world to keep up with rapid technological changes and transformations.,”

Bsec chairman Shibli Rubayat Ul Islam mentioned that Bangladesh is now growing at a pace which is much higher than other neighboring countries.

“We are keeping our eyes open and learning more how crypto currencies work. We are trying to understand more how we can incorporate these into our economy, whilst carefully understanding its implications,” he added.

State Minister Zunaid Ahmed Palak said Bangladeshi companies are now deploying blockchain solutions in Bangladesh, Japan, Malaysia, the UK, the US and other markets.

Fasset cofounder and CEO Mohammad Raafi Hossain mentioned that now with blockchain, for the first time in human history everyone has the opportunity to not only work for an income, but to keep their capital in assets that they own in a way that there is no intermediary, and no risk that this asset will be stolen or seized from them.

Fasset, a gateway for multinational digital asset, aims to connect the next billion to buy, sell, send and store digital assets such as Bitcoin and real world asset tokens.