Last week Best Coin Investments attended one of the largest Blockchain events in Turkey – Blockchain Turkey Summit 2018. It was a well-organized event with somewhat around 1200 attendees with some of them being government representatives, politicians, authorities and, mostly, people in the tech and business field. The summit mainly consisted of talks about Blockchain development within the country and how it might affect the future. Also, representatives from the Turkish government did a few presentations on the governments take on cryptocurrencies and blockchain in general.
Turkey is positive about cryptocurrencies
The primary outcome of the summit is that Turkey is very open to developing cryptocurrencies and blockchain technologies in the future. Tensel Kaya, CEO of Mindstone, pointed out that they would need stablecoins or stable currencies for doing better business with cryptocurrencies.
Furthermore, the summit also gathered many tech enthusiasts to take part in the IoT and Blockchain workshops. They tested out software with Markov chain with Monte Carlo simulations on the blockchain. The physicists from the Manhattan project invented the Monte Carlo method, and it is all about generating data for variables to simulate systems. However, A Markov chain is a stochastic model describing a sequence of possible events in which the probability of each event depends only on the state attained in the previous event.
Moreover, the summit consisted of talks about decentralized systems and how they could overcome the traditional centralized systems we know. Robert Wiecko, the COO of Dash Group Inc. and Jan-H Meyer, the CEO of Dash Embassy D-A-CH UG, presented their instant payment platform and gave a few convincing arguments why DashPay is faster and cheaper than any other cryptocurrency.
The conclusion after this summit is that Turkey is still a newcomer to the crypto-space, but they are very determined to jump into the scene and start developing their cryptocurrency market and to evolve blockchain technology as a whole in their country. They are willing to support new companies that operate in the blockchain area, but significant works still need to be done.
In Latvia, Riga, a pitch session was held to help new crypto based projects to pitch their ideas to investors and to practice their performance skills in general. The event was well attended and the people presenting their ideas and products were full of challenges and ambitions. Organizers described the event more like a talent pitch, but investors were more than welcome to chat with the entrepreneurs of a specific project they enquired about. Each presenter was given a time frame of 5 minutes. Afterwords, when the pitch session was over, the attendees were able to vote for their favorite presenter and the winner would get a bottle of the finest Cognac. After the pitch session, individual entrepreneurs were allowed to present their ideas in a time frame of 1 minute. A few attendees took the opportunity.
Further in this article I will briefly comment on the presented crypto projects.
As the first project to present their idea was Tixico. Tixico is a blockchain-based ticketing platform, were ticket sellers, distributors and buyers can easily operate without the fear of being scammed. The platform also offers Event organizers to set price range limits on the second hand market as well as how many tickets one user can purchase in total, thus protecting from ticket scalpers. To prevent fraud, Tixico token owners can engage in voting and even assigning event moderators that distribute money to specific causes. They have already raised $30,000 from an angel investor, but they are looking for extra $3 million to release their full protocol. The good thing is that they have presented the Alpha version of their platform which will be the cornerstone for future development. For more info go to tixico.io
Next came a-Qube, a decentralized Marketplace of Ideas. a-Qube claims to be the ﬁrst p2p Mobile Incubator which turns Business Ideas into Proﬁtable Assets. The presenter was nervous and speaking quietly, but the presentation was acknowledgeable. Basically it is a p2p(peer-to-peer) incubator were users match based on their chosen archetype track, just like in dating apps. Users will be able to exchange, trade and lease their business ideas. There is not much information about their project on the internet, so I believe they are at the very start of their project development.
After a-Qube, the worlds first crypto embassy came to present their project – Cryptocash. It is founded by the PayBis.com team, which also was the main sponsor for this whole event. The embassy is located in Riga, Latvia and their main goals are to educate people about cryptocurrencies and blockchain; make it simple for beginners experienced crytpo enthusiasts to buy or sell cryptocurrencies. They offer few products and services within the embassy as well. For example, you can easily purchase cryptocurrencies with cash or debit/credit cards, you can exchange your crypto to cash, for that they offer a receipt which will contain all the details needed for legal tax purposes. And of course they offer a wide range of crypto merchandise such as hardware wallets, souvenirs, themed clothes, watches and other accessories.
Next came Files.fm, a company which already provides secure, convenient and scalable data storage solutions. By already I mean they have been working for years in the field of storing data. Mostly in Europe and the Baltic states, but they have clients all around the world. Their ambition is to make a world file library. The presenter highlighted a major problem with file libraries – there is no legal file library, no specialized file search and the user cannot access specified files. And that is what Files.fm is working on solving. The presenter spoke very good english and the presentation was done well.
The self acclaimed first physically secure cryptocurrency vault – AsicVault, came next. They have developed a chip which forms a Trusted Execution Environment. The chip design already exceeds 77 000 lines of Verilog/VHDL code and it has a system for online wallets, exchanges, banks and companies holding blockchain assets. Also they offer a decentralized exchange where the user will have the ability to participate without depositing any funds into centralized accounts. AsicVault chips support trading accounts that enable peer-to-peer trading and swapping of cryptocurrencies. Their first batch is already sold out, they are working on the software and the price of the product was estimated around 200 Euros.
I gave my vote for the FIC network presentation which came next, because the presenter was very active and humorous, plus he had a very brief style of presenting.
The first thing which was revealed already at the beginning of the Blockchain meet-up, was that one of these 10 projects have reached almost $3 million in funds. And I’m glad to introduce that this is the project. FIC is a blockchain-based network that will enable users to list, buy, and sell any type of crypto or fiat fixed income financial instrument. They were looking for team members in their new blockchain infrastructure which is designed to create a global crypto and fiat currency credit and fixed income financial market for all global participants. FIC will accelerate global economic growth by enabling financial institutions, businesses, and individuals to lend and borrow crypto and fiat assets, and securitize crypto and fiat debt.
DISEO, a Blockchain empowered open social interaction all-in-one platform presented next. They have a very interesting concept. Basically their platform is a mix between Facebook,WhatsApp and LinkedIn, where you can have your product advertised within, artist, athlete or personal pages. But the digital advertising at those pages are optional for the user. Every athlete, artist or person can manage their adds, so they don’t take over all your news feed. Their platform will cover all fundamental social media functionalities like: a news page; individual or group chats with real time translation options; events and calendar options and an integrated online shop where the customer will be able to pay with coins. Most likely the coins mentioned will be their own DISEO, but the fact they accented is that they will sell only shares not coins in addition to avoid speculative components.
Next came a company called PowerMining made last year by two crypto-enthusiasts from Latvia. Their main working area is selling and operating Bitcoin, Litecoin and Ethereum mining rigs. What sets them aside from classic online mining shops is that they offer large GPU and ASIC mobile mining units which are built in a standard shipping container. The containers are filled with around 160 ASIC’s or 90 GPU’s costing around $20k. They can be easily transported to any place of customers choice. Also they are offering the option of hosting ASIC miners and their service include consultations, insurance, a secure and closed location, security cameras, thermal humidity and fire protection and a remote access to your miners. The standard time of their contract is 6 months.
And the last project to present their idea was the first community based decentralized police on blockchain called CryptoPolice. It is a platform that helps to bring together community and technology in order to safeguard online users against fraud.
“…CryptoPolice empowers the community to get hands on with the fight against scam. In the platform, the crowd is represented by the Officers – a community of expert users that have been trained and certified at the CryptoPolice Academy”, said Arturs Rasnacis the CEO of CryptoPolice. The company is now in private sale mode and they will issue their own token – OfficerCoin (OFCR) which will be built on the ERC-20 platform. They already have a notification system called WhatchDog. It uses the wisdom of the crowd to protect users from scams. The working principle of the WatchDog system is similar to an AntiVirus system. The§ system will protect the user from phishing sites, ICO scams, fake projects and many more. The cost of this notification system that can be added as a Google Chrome extension is $12 per year. Application programming interface (API) will be available next year.
Overall it was a well organized event, even though it was a small scale one, with about 50 people attending, the atmosphere was smooth, so the presenters had a good audience to practice their presentations, which was one of the main goals for the event. One of the organizers, Karlis Kivlenieks, said that they are planning further for similar events in October. They have had workshops in Switzerland with great attendance and similar pitch sessions like this one, so they are well experienced in making blockchain conference kind of events.
Looking forward to more events and best of luck to Karlis and his team!