Gather global leaders to showcase real-world blockchain implementation in the lead-up to this year’s annual meetings of the IMF and World Bank.

Pundi X, on May 30, hosted a gathering of leading voices on blockchain at a press conference, revealing an international summit on the technology in Bali this October.

The X Blockchain Summit, co-founded by Pundi X President Constantin Papadimitriou and co-organized by the Indonesia Blockchain Association, aims to bring together over 1,000 participants from 30 countries on the island of Bali in the lead-up to this year’s annual meetings of the IMF and World Bank.

The World Economic Forum estimates that 10% of GDP will be stored on blockchain by 2027. Indonesia, Pundi X home country, have begun looking at blockchain to help to build trust and facilitate greater productivity and efficiency out of Southeast Asia’s largest economy.

At the press conference Constantin was joined by members of the Indonesian government and industry, who revealed the country’s plans for blockchain are more advanced than has been previously acknowledged.

The head of the Indonesian Creative Industry Agency, Triawan Munaf, himself a former musician, said Indonesia was examining a proposal for running its new system for calculating royalties owed to artists on the blockchain.

“Blockchain is seamless and [royalties could be] evenly distributed to all stakeholders who have business interests in songs and music,” he said.
The proposal to run the online royalty calculator, known as Project Portamento, on the blockchain is currently before the government, Mr Triawan confirmed.

Wednesday’s press conference was widely covered by the media on Thursday, including by Detik, one of the largest online media in Indonesia, Antara News, Business Insider and Indonesia’s Economic News.

Constantin, said the October summit, billed as the Asian region’s pre-eminent regional gathering of blockchain expertise, will bring further news and the exchange of ideas.

“A lot of the talents and new technology applications come from countries within [Asia] and we are excited to be able to bring to the world all the fresh ideas, real world implementation and the best people in one big gathering,” he said.

Meanwhile, Yos Ginting, Chairman of Permanent Committee on International Trade, Indonesian Chamber of Commerce and Industry noted that blockchain was being used to manage land title registries in other nations. The improvement of Indonesia’s own titles management has been a key goal of the current administration.

In its inaugural year, XBlockchain is seeking to be the pre-eminent regional gathering of the biggest names in the industry, with confirmed speakers and attendees include a mix of regional and international thought leaders, including

• Founder of Ripple and Stellar co-founder Jed McCaleb
• Pundi X Chief Legal Counsel David Ben Kay
• Former President of the NEM.io foundation and ProximaX co-founder Lon Wong

The summit will feature 70 speakers covering real-world instances of blockchain technology’s current and future application and also include sessions devoted to issues being covered by the World Bank and IMF in Bali later the same week, such as: financial inclusion, international knowledge transfers and making global trade and investment more efficient.

For more information, please visit www.xblockchain.tech.