The Institute of Electrical and Electronics Engineers’ (IEEE) UAE Blockchain Group Kick Off Symposium took place on March 9, and it was a resounding success. The event, held at the University of Dubai, was a great opportunity for experts from industry, government, and academia to educate each other on how blockchain can best be deployed in the modern world.
In-person and remote attendees presented on a range of subjects, with a focus on Internet Protocol Version 6 (IPv6) and how it can integrate with the BSV blockchain to create a more secure internet. IPv6, which was launched in 2012, is the next generation Internet Protocol address standard intended to replace its predecessor IPv4.
The old IPv4 protocol has only 4.3 billion unique addresses whereas IPv6 offers 340 trillion, trillion, trillion unique addresses. Therefore, IPv6 can facilitate the explosion of interconnected IOT devices (smartphones, tablets, wearables etc) in a way that IPv4 is unable to.
In his speech at the conference, Dr. Craig Wright explained that IPv6 was originally enabled into the first version of Bitcoin way back in 2009, but it was turned off after he stopped being part of the development team.
“IPv6 enables end-to-end connectivity and that was part of the foundation of Bitcoin. Bitcoin’s not a peer-to-peer network … it’s an end-to-end communication platform allowing individuals through IP to IP to connect directly.”
Dr. Wright made the point that in our increasingly interconnected world, it’s important to ensure that devices can communicate in a secure and private way without relying on intermediaries. He explained why trusting large tech companies with our data is a mistake and how using a cloud-and-IPv6 system with BSV as a base layer is a far safer option.
Latif Ladid, founder and president of the IPv6 forum and a steering committee member of the IEEE blockchain, was sold on Dr. Wright’s vision and found it a “great honour” to have him in attendance.
“With IPv6 we’ll do it with BSV, that’s quite clear to us, because that’s really the solution for everyone because the cost is very low, and the deployment is very efficient, so we see here a very big vision for the internet to be, combining IPv6 and blockchain down the road,” Ladid said.
Dubai is the perfect place for representatives of the BSV blockchain and IEEE members to discuss this subject. The self-proclaimed ‘city of the future’ has proved itself to be a frontrunner in technological innovation. The UAE government has launched a range of initiatives in recent years including the Dubai Blockchain Strategy which aims to help Dubai become the first city in the world to operate fully on blockchain technology.
Dubai is serious about fulfilling this aim and has embarked on a range of ambitious projects to achieve this vision. For example, the Roads and Transport Authority in Dubai is finalising a project that will create a vehicle lifecycle management system using blockchain technology. The system will provide those buying, selling, or insuring a car with a transparent record of its history from manufacturer to scrap yard, improving trust in transactions.
BSV blockchain’s association Founding President Jimmy Nguyen is confident that the future looks bright for BSV in the UAE. He explains that the UAE’s blockchain policy “marries well with our BSV message of let’s make a blockchain that’s useful for everything, for everyone, for all kinds of data and payment applications so that’s why we’re here. We’re seeing a lot of traction here and they need a chain that can scale if you want to support nationwide activity.”
Nguyen and the team will be back in Dubai from May 24-26, 2022, for the BSV Global Blockchain Convention which will showcase the utility and wide range of solutions possible on the BSV Blockchain. Visit the official BSV Global Blockchain Convention website here.
Watch: Dr. Craig Wright tackles IPv6, blockchain integration on The Bitcoin Bridge
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