Hexayurt.Capital has presented a paper during the World Government Summit in Dubai that outlined a strategy ‘Internet of Agreements (IoA)’ using blockchain technology for connecting the next wave of innovation in order to drive ‘Globalization 2.0’.
The paper titled ‘Building the Hyperconnected Future on Blockchains’ is a result of collaboration between Hexayurt.Capital and ConsenSys, a leading Ethereum development consultancy. It is built on the Dubai Nation Blockchain Strategy and offers a blueprint for partnership between policymaker and innovators in framing the current century trade networks.
“The report explores how the blockchain will drive positive changes in nearly every area of civic life over the next ten years. Both national and municipal governments will realize these benefits as they adapt and adopt these technologies to meet diverse requirements, smoothly integrating into the technological fabric which supports and serves their citizens,” the report summary stated.
Forming a major part of Hexayurt.Capital’s investment thesis, Internet of Agreements will enable London-based VC firm expects to see the concept in wide use in the coming months. One of the key sections of the paper identifies ‘Globalization 2.0’as a major opportunity to expand world trade by simplifying the regulatory and compliance work that accompanies international deal-making.
The paper also explores how government bodies can adopt blockchain technology including the research challenges and cost-effective R&D, effective ways to put the government on a blockchain, the regulatory frameworks associated with it, privacy, performance, customization, among others. The research also included various case studies that involved use cases of blockchain in transportation, energy, healthcare, among others.
The World Government Summit hosts over 3,000 world leaders, policymakers, and experts from over 130 countries. this year event speakers included experts from the industry including Tesla and SpaceX founder Elon Musk, Uber founder Travis Kalanick and LinkedIn founder Reid Hoffman, alongside IMF Managing Director Christine Lagarde and Sheikh Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Prime Minister of the United Arab Emirates. The event took place from 12 – 14 February 2017.
