A recent reporting by The New Indian Express, revealed that a Global Blockchain Protocol Consortium will be launched by Friday, August 3rd, 2018. The said consortium will consist of different countries coming together to assess the way in which blockchain technology can be elevated for optimal use. The initial launch will be conducted during India’s International Blockchain Congress (IBC), a two-day event.

The conference has been a combined effort which includes NITI Aayog Government of India, the State Government of Telangana, the State Government of Goa and Nucleus Vision, an Inter-of-Things backed identification system provider.

The expectations seem to be high for this meeting, as IBC projects the participation of nearly 3,000 blockchain investors, startups, regulators and other players within its respective industry. The CEO of Nucleus Vision, Abhishek Pitti informed The New Indian Express of the specs of the project as well as hints as to what countries will be involved.

Pitti believes that the event scheduled for Friday will help to

“popularize blockchain and streamline various stakeholders and efforts going on globally towards a collective and concerted aim.”

He also noted that not only will India be part of the potential consortium, but also China. The CEO of Zebpay, Ajeet Khurana, will be one of several speakers at the IBC. As per Khurana’s quote,

“We still need to figure out how this new technology can be used effectively.”

The event clearly symbolizes a global unification in better understanding and developing the blockchain industry, as the launch of the consortium will automatically open new doors for existing businesses and investors as well as those seeking an easy entry to the market.

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