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From 29 to 30 July, the Global Blockchain Investment Summit (GBIS) hosted by Indonesian Chamber of Commerce and Industry, Global Blockchain Investment Alliance, Hong Kong Blockchain Association and Block Chain Center of Excellence and Education (BCEE), was held in Jakarta, Indonesia. The leaders of Indonesia, members of the United Nations Blockchain Committee, members of the royal family of the United Arab Emirates, representatives of the Indonesian Chamber of Commerce and Industry and the Indonesian Ministry of State Investment attended the Summit to discuss the transformational impact of the Blockchain on the digital economy from the perspective of government management and global economic development. Block Chain Application and Economic Association (BAEF), Global the World Token Issuing Alliance (WTIA), Asian Block Chain Alliance, Indonesian Block Chain Association and other authoritative Association alliances, together with trading platforms: Huobi Indonesia, BitTok; distributed commercial representatives: IPSE (a search engine), BitCherry (a distributed e-commerce), Engine Miner; and Blockchain omni media platforms: BitDesk and Cyber Media also participated in the summit. They work together to build a panoramic blockchain ecology and help accelerate the transformation of Indonesia’s digital economy.

Block Chain and Distributed Business Provide Solutions for Indonesia’s Economic Transition

On the first day of the summit on July 29, three key guests, Rico Rustombi, Vice President of Logistics and Supply Chain Management of Indonesia Chamber of Commerce and Industry, Rosan Perkasa Roeslani, President of Indonesia Chamber of Commerce and Industry, and Bambang Brodjonegoro, Minister of National Development of Indonesia, delivered opening speeches to express their vision of enabling Indonesia’s economic transformation through blockchains and their promise to achieve industrial 4.0. 

At the signing ceremony of the Memorandum of Understanding on Strategic Cooperation of Blockchain and Distributed Commercial Investments promoting Economic Restructuring in Indonesia, Rico Rustombi, Vice Chairman of Logistics and Supply Chain Management of the Indonesian Chamber of Commerce and Industry; Sheikh Khalfan Al-Mazrouei, former Secretary of the Royal Secretary of the United Arab Emirates; Ender Xu, Founding Chairman of the Global Blockchain Investment Alliance; Tony Tong, Co-Chair of the Hong Kong Blockchain Association and CEO of The Global Exchange; Paul Chen, CEO of Bit Cherry; Kim Keun Young, President of WTIA; Kilian Hussmann, CEO of EGQ; Edwin Zhang, Founder and CEO of Engine Storage; Sliver Xie, Chief Architect of IPSE; Vincent Choy, Chairman of BCEE; Lim Hui Jie, Vice President of BCEE; and Kevin Pang, Co-Chairman of SGtech Blockchain Committee signed to contribute to Indonesia’s economic transformation.

During the panel discussion on How Blockchain and Distributed Commerce are driving Indonesia’s Economic Transformation, Siti Ariyanti Adisoediro, Director of the Standing Committee of Regulation, Government Partnerships and Inter-Agency section of Indonesian Chamber of Commerce and Industry, Yuliot, M.M, Chairman of the Indonesian Investment Coordination Committee (BKPM), Steven Suhadi, President of the Indonesian Blockchain Association, all mentioned that Blockchain and distributed commerce would be infrastructures of the digital economy of the future and would lead to a powerful growth in Indonesia’s economy for at least two decades to come. Ender Xu, founding chairman of the Global Blockchain Investment Alliance, and Tony Tong, a representative of authoritative Blockchain Associations in Asian, CO-Chairman of the Hong Kong Blockchain Association and CEO of the Global Token Exchange, also believed that Blockchain, the most significant technology today, would benefit from underlying technologies, scenarios, production relations and other aspects to restructure the commercial economy and society as well as to provide a strong driving force for Indonesia’s economic development.

Logistics systems play an important role in the digital economy, Iskandar Zulkarnain, Director of the Standing Committee of Connectivity and Multi-Modal Ports and Airports section of Indonesian Chamber of Commerce and Industry, Prof. Nofrisel SE, Director of the Standing Committee of Logistics Services section of Indonesian Chamber of Commerce and Industry, Supply Chain and Human Resources, and Kilian Hussmann, CEO of MM and EGQ, etc. signed the Memorandum of Understanding on Strategic Cooperation of Establishing Blockchain Solutions to Reduce Logistics Costs in Indonesia.

Financial infrastructure plays an important role in promoting Indonesia’s economic transformation. Elisa Lumban Toruan, Director of the Standing Committee of Information-and-Communication Technology and Logistics section of Indonesian Chamber of Commerce and Industry, Hery Susanto, Director of the Standing Committee of Regulation, Government Partnerships and Inter-Agency section of Indonesian Chamber of Commerce and Industry, and Bob Qin, Chairman of the North American Blockchain Foundation and Chief Scientist of BitCherry, co-signed the Memorandum of Understanding on Strategic Cooperation of Providing Blockchain Solutions to Promote Financing Efficiency in Indonesia, promoting the construction of Indonesia’s new financial infrastructures.

Through another panel discussion on the impact of Blockchain technology and cryptocurrencies on the world’s financial ecosystem, Elisa Lumban Toruan, Director of the Standing Committee of Information-and-Communication Technology and Logistics section of Indonesian Chamber of Commerce and Industry, said that the decentralization and creditability of financial system which has Blockchain as underlying technology and cryptocurrencies as value subjects could solve disadvantages of traditional financial ecology, and would boost the development of the world’s financial ecology and empower the development of distributed commerce.

Distributed commerce will empower all walks of life, as one of the most promising areas of growth – distributed e-commerce will subvert traditional e-commerce. BitCherry, as the world’s first distributed e-commerce ecosystem, will build a global distributed e-commerce ecology based on the e-commerce public chain. Hery Susanto, Director of Indonesian Chamber of Commerce and Industry, Government Partnership and Inter-Agency Standing Committee; Bob Qi, Chief Scientist of BitCherry, Chairman of North American Block Chain Foundation; Dr. Riadh, Bit Cherry consultant, Chairman of Saudi Real Estate Company Limited; Khalfan, Former Secretary-General of the Royal Family of the United Arab Emirates; Global Kim Keun Young, Co-founding Chairman of Block Chain Investment Alliance, President of WTIA and Bitcherry Consultant, and John Mavrak, CEO and BitCherry Consultant of Monopoly Hotels & Resorts, jointly launched the BitCherry e-commerce public chain development plan. BitCherry will provide a public chain environment to support e-commerce ecology and create a new generation of shared e-commerce global ecology. BitCherry public chain will provide a chain network system combining block chain and DAG technology. The sub-chain is designed based on DAG to increase the concurrency of transactions. Meanwhile, the main chain security is used to ensure the security of DAG sub-chain. The sub-chain supports intelligent contracts. The intelligent contract engine will provide Turing complete engine supporting multiple languages.

On July 30, the summit focused on discussing distributed commerce. Professor Zhu Jiaming, President of China Institute of Digital Assets and a renowned economist, delivered a keynote speech entitled “Spring of Distributed Commerce and the Comprehensive Approach of Digital Economy”. He said that the significance of encrypting digital currency was to break the absolute monopoly of modern countries and realize the return of monetary sovereignty. Return, Decentralization and Creating New Wealth Patterns. With the rise of block chain technology and the birth of distributed commerce in recent years, traditional industries have gained a new growth point. The digital economy marked by block chain and distributed commerce has entered an advanced stage of development, which will promote the digital economy to come in an all-round way.

Based on the concept of distributed business ecology, Paul, Bit Cherry CEO; Sliver Xie , IPSE Star Search Engine founder; Edwin Zhang, Engine Miner CEO; Killian Hussmann, EGQ CEO; Zhou Huan ,IPFS. Fund founder and IPFS Founder community founder; Chen Caigen, Tiantianjie Founder and CEO jointly participated in the panel discussion to talk about distributed commerce. Including distributed storage IPFS, distributed search IPSE and distributed business BitCherry technology innovation and application prospects. Zhang Yunxin, CEO of Engine Miner and Zhou Huan, founder of IPSE. Fund expressed their views that distributed storage of IPFS can achieve safer and more efficient data storage, which is the development support of industrial-level big data and will become an important infrastructure and application scenario in the era of distributed commerce. Killian Hussmann, EGQ CEO; Kilian Hussmann, BitCherry COO and Silver Xie, IPSE founder believes that IPSE, as the search layer of IPFS, can give full play to the dynamic value of data, effectively link the upstream and downstream of the data industry, and will fully occupy the next value of Internet traffic entry. Megan Lee, BitDesk CEO; Paul Cheng, BitCherry CEO and Chen Caigen, Bit Cherry consultant unanimously favors Distributed E-Commerce Bit Cherry, as a multi-billion-level public-chain e-commerce project, can make full use of the underlying technology, e-commerce applications, financial services, and create an epoch-making Distributed E-Commerce ecosystem.

Meanwhile, Cherry Wallet, a block chain digital asset security storage project, held an official global launching ceremony. At the launch ceremony, Aaron, Cherry Wallet Chief Commerce Officer, announced that Cherry Wallet App was officially launched on the same day, and its Cherry Wallet Pro cold wallet was officially pre-sold. Cherry Wallet, as a block chain security storage scheme for digital assets, realizes cold and hot end interaction through the first encrypted two-dimensional code + near-field communication transmission (NFC). It originates semi-password technology, synthesizes the private key by seed password + payment password, and uses two-dimensional code and NFC communication mode to keep the private key from touching the network, fundamentally. The risk of private key being stolen by hackers is eliminated. It also pioneered the situation-generation technology, which will generate random passwords in real time according to the different application scenarios of users and improve the security of passwords. Cherry Wallet Pro cold wallet currently supports mainstream digital assets such as BTC, ETH, BCHC, USDT, EOS. With the continuous iteration and upgrading of wallet functions, Cherry Wallet will provide more public-chain digital asset types support for exchanges, block chain enterprises and trading users in the future.

In the keynote speech of “Mining Logic of Distributed Commerce”, Kilian Hussmann, EGQ CEO, proposed that distributed commerce not only achieves the decentralization of the form of e-commerce organization, but also reconstructs the interest relationship, improves the production relationship of traditional industries, and realizes wealth among different owners on the basis of transparent information and unalterable. Fair distribution among entities enables value to return to the creator and realizes the mining logic of “behavior is value”.

Since 2018, stable currency has become the absolute hotspot for cryptocurrencies worldwide. Zhang Jun Yong, deputy of the Hong Kong People’s Congress, partner of the Hong Kong Yino Angel Foundation and chairman of the Hong Kong Block Chain Association, delivered a keynote speech on “The rise and supervision of stable currencies”. He said that many banking institutions and the National Central Bank have taken block chains and digital currencies as key focus, and stable currencies where stable currency work as a stable digital asset anchored with 1:1 currency. This is an important link connecting token distribution and digital assets, together with improvisation of relevant laws and regulations gradually. At the same time, securities licensing is also one of the topics discussed at this summit. Tony Tong, co-chairman of Hong Kong Block Chain Association and CEO of Global Commodity Exchange, said: “Securities licensing is the trend of the blockchain development in the future. The Hong Kong Stock Exchange is actively embracing compliance regulation to create a secure, stable and reliable virtual asset online trading platform for professional investors.”

Finally, an international club was established at the summit. The co-founding chairman of the Global Block Chain Investment Alliance; chairman of WTIA; Kim Keun Young, BitCherry Consultant; co-founding chairman of the Global Block Chain Investment Alliance; Ender Xu, Chairman of the Hong Kong Block Chain Association; Chairman of the Global Partnership Forum; Amir Dossal, Co-founder and Vice-Chairman of the Block Chain Sustainable Development Committee; John Mavrak, CEO of Monopoly Hotels & Resorts; Former United Arab Emirates royal secretary, Sheikh Khalfan Al-Mazrouei, BitCherry consultant; Chairman of Saudi Real Estate Co., Ltd., and Dr. Riadh Khalifa Toukabri, BitCherry consultant have participated in the signing ceremony of strategic cooperation, comprehensively distributed global market and promoted the vigorous development of regional chains and the digital economy worldwide. 

The two-day Global Block Chain Investment Summit (GBIS) has come to a successful conclusion. Through the immense discussion of blockchain technology, industry applications, business prospects, and investment value, this summit have provided a cutting-edge analysis and guidance for governments, industry associations, and blockchain investment institutions in the field of digital economic transformation and technological innovation, to boost the global blockchain and flourish the application of digital economy.

Image(s): Shutterstock.com

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