Accelerator71 Partners with Worldwide Blockchain Innovation Association

14/01/2020

Accelerator71 has entered into a collaborative partnership with the Worldwide Blockchain Innovation Association (WBIA). With Accelerator71’s role revolving around helping blockchain and tech scale startups elevate their position in diverse sectors that need blockchain solutions, the association with WBIA will open new doors for companies to further grow and thrive in various economies that are looking for blockchain based solutions.

Blockchain is a relatively new concept that is just in its nascent stage of development and requires aggressive awareness for acceptance at a pan world level. Many countries and economies are ambivalent about integrating

blockchain use cases in their diverse sectors for better efficiency and management. WBIA’s role is significant in helping such sectors by playing the part of an expert, educating them about the benefits attached with mass scale adoption of this technology. WBIA is also acting as a reliable adviser to governments, understanding their pressing challenges and proposing the best solutions across blockchain to resolve such issues. 

WBIA’s core agenda is unravelling the applications and use cases spanning across blockchain technology. The organisations not-for-profit initiative sets up a platform and benchmark to create an environment where participating members from academia, industry partners and policy makers can together advance and endorse the adoption of blockchain  or decentralized ledger technology in supply chain and logistics to empower regional economic harmony and empowerment. 

WBIA has been instrumental in playing multiple roles in the blockchain space to help its members, government and solution providers build a sustainable blockchain ecosystem. In order to achieve this sustainable plan, WBIA has been working via a specific milestone based approach by breaking the larger picture into small goals for technology integration. 

In its first action plan, WBIA aims to establish a consortium that is working towards establishing harmonious regulatory compliance for making the DLT supply chain and logistics applications for blockchain startups. 

There has been a lot of dissent for blockchain in various economies and such an obstacle is acting as a hindrance for blockchain adoption. WBIA’s role is to iron out the differences and help economies understand that blockchain has the power to empower society both technically and economically. 

Domestic and international institutions are apprehensive about blockchain technology. As a result, complete acceptance and integration becomes a tough challenge for emerging blockchain startups. WBIA has set up an Asia-Pacific Economic Cooperation group that is working on developing crypto friendly policy settings in the Standard Operating Procedures (SOPs) of most blockchain startups. 

Advocating plans and policies that help in mainstream integration of blockchain technology will promote development on a larger scale, as anticipated by the experts. WBIA is working to raise this awareness so that blockchain can be applied to the key sectors in the economy. 

Creation of one single window platform or forum where think tanks, innovators, universities, blockchain leaders and industry associates can collaborate and discuss the ramifications blockchain will have in multiple sectors across the world. 

Accelerator71 has been helping technology startups to come to Dubai and present their innovative solutions to the private and the government bodies. By associating with WBIA, they will benefit significantly and help emerging blockchain startups create the best policies and regulations that will benefit the economy of Dubai and the community of the country. 

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