PR: World Blockchain Forum Brings Global Blockchain Elite to Dubai

World Blockchain Forum Dubai

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Dubai, UAE

Following the historic response to sister event The North American Bitcoin Conference, held in Miami earlier this year, Keynote has released details of their World Blockchain Forum in Dubai, 16th and 17th April.

Known as a global centre for innovation and investment opportunity, Dubai provides an inspirational backdrop for the 3rd annual World Blockchain Forum. Visionary leaders, economic pioneers and enterprising investors from around the world will come together for one of the most exclusive events on the global blockchain calendar.

As the longest-running crypto-technology conference in Dubai, WBF will delve into the innovative possibilities of blockchain technology, the impact of cryptocurrencies on global financial markets and the shifting landscape of ICOs.

With more than 500 Bitcoin and blockchain innovators and investors expected to attend, WBF – Dubai builds on the success of similar events in London, Los Angeles and Chicago as part of the World Blockchain Forum. The two-day event focuses on the future of finance and investment, successful past and future ICOs, regulation & governance, and considers how decentralization continues to disrupt the banking sector.

“We are thrilled to host another meeting of brilliant minds in the heart of the UAE and look forward to welcoming leaders of the crypto community from around the globe. Since 2015 we have been committed to bringing more companies and dedicating more resources to the UAE, to bring His Highness Sheikh Hamdan’s blockchain strategy and vision to life,” said Moe Levin, Founder and CEO of Keynote.

World Blockchain Forum Program Details
Held at the stunning Madinat Jumeirah overlooking the Gulf, this year’s internationally-acclaimed event speakers look at the ways in which vanguards, executives, and entrepreneurs can innovate the future of a new world economy.

Past WBF Speakers include:
Vitalik Buterin – Co-founder, Ethereum
H.E. DR. Aisha Bin Bishr – Director General at Smart Dubai
Patrick Byrne – CEO, Overstock & t0
Star Xu, CEO – OKCoin
Roger Ver – CEO, Bitcoin.com
Eva Kaili – Greece, Member of European Parliament
Charlie Shrem – Bitcoin Pioneer
Gabriel Abed – Founder, Bitt
Ola Oudin – CEO, BitOasis
Gabriel Kurman – Co-founder, RSK Labs
Ryan Taylor- CEO, Dash Core
Jason King – Co-founder, Academy
Moe Levin – Founder, Keynote
Ruslan Gavrilyuk – Co-founder, Taas.fund

For a full list of speakers visit: https://dubai.keynote.ae/speakers/
Tickets can be purchased at: dubai.keynote.ae/tickets/

About Keynote
Keynote was launched in 2012 by blockchain strategist Moe Levin. For further information and details about Keynote and the WBF – Dubai event, visit dubai.keynote.ae

For media inquiries, please contact Amandah Hendricks, Keynote’s Chief of Communications at amandah@keynote.ae

Contact Email Address
amandah@keynote.ae
Supporting Link
dubai.keynote.ae

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Token Holders Don’t Give a Damn About Voting Rights and Community Governance

Token Holders Don’t Give a Damn About Voting Rights and Community Governance

You’ve probably heard of The DAO and you’ve certainly heard of the ICO. Now say hello to the DAICO, an “innovative fundraising model” that aims to combine the best of both frameworks. The Abyss Platform is the first project to utilize this hybrid organizational structure, which has been credited as the brainchild of Vitalik Buterin. There’s just one problem with The DAO, the ICO and the mutant DAICO it’s spawned – the public couldn’t give a damn about key tenets such as voting rights and community governance. All they want is cheap tokens they can flip for a quick profit.

Also read: U.S. Corporate Customers Barred From Bitfinex’s Margin Markets

Live and Let DAICO

The DAO (decentralized autonomous organization) was the first major project to be launched on the Ethereum blockchain, complete with a novel governance structure that replaced a board of directors with a community-run model. It didn’t end well. A vulnerability in the code saw one third of the ether committed to the project stolen and The DAO collapsed. As prominent crypto critic and agent provocateur Preston Byrne explains:

The original DAO could pass resolutions with a simple majority drawn from quorum of 20% (meaning as little as 10% +1 of the investors could bind the remaining 90%). No resolution ever passed because none of the tokenholders actually cared enough about what the DAO was doing in order to participate. Their primary motivation was to sit on their hands and wait for their investment to pay off.

Byrne may be a perennial bitcoin bear, but as a practising English solicitor, he knows more than most when it comes to the sort of legal matters that DAOs and DAICOs were meant to solve. Take a look at many of this year’s ICOs and you’ll find, somewhere in their roadmap, talk of token holders being empowered to vote on key protocol changes including platform developments and new features. It all sounds very progressive and democratic, but the trouble is even the loyalest of community members don’t care enough to want to micromanage decisions using the power invested in them by tokens. The real reason why ICOs are so eager to assign voting rights to their investors is to add legitimacy to their claim that the token is a utility and not a security.

Token Holders Don’t Give a Damn About Voting Rights and Community Governance

Good Intentions Lost in the Abyss

The Abyss “merges some of the benefits of Decentralized Autonomous Organizations (DAOs), aimed at upgrading and making the initial ICO concept more transparent and secure”. It allows “token holders to control the fund withdrawal limit, also providing an option to vote for refund of the remaining contributed money in case the team fails to implement the project, with Oracles (appointed industry leaders) acting as arbitrators.” The idea is plucked from a concept Vitalik Buterin mooted a few weeks back.

Token Holders Don’t Give a Damn About Voting Rights and Community Governance

In his scathing critique of the DAICO, Preston Byrne writes: “I feel like I’m taking crazy pills here, because the SEC literally wrote a report about the original DAO scheme, likened it to a security, and cited as authority for this proposition not one but TWO cases relating to an infamous 1970s pyramid scheme that landed its promoter in federal prison for nearly a decade.”

He finishes: “A DAICO is nothing more than a new acronym for the same old bad ideas. The broken DAO concept, in particular, requires extensive rethinking and movement onto private/permissioned blockchains in order to shed its pyramid scheme-like qualities and serve a useful function. On account of which I am completely amazed that anyone would want to combine the DAO and ICO concepts under any circumstances.”

Original thinking deserves a chance to flourish, and blockchain governance – for all its pitfalls – may yet find a way to work. It probably won’t arrive in the form of the DAICO though or any of the other “revolutionary” governance models being used to float the current crop of crowdsales. Good ideas will ultimately prevail, while the ones deemed too wacky and unworkable will return to the abyss that spawned them.

Do you think blockchain democracy and token-based voting is a viable concept, or is it destined to fail? Let us know in the comments section below.


Images courtesy of Shutterstock, Twitter, and Ethersear.ch.


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