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IBC Event In India Paves Way For Implementation Of New Blockchain Technology

New blockchain technology is finally taking baby steps in the world’s economy.  The recent maiden event of International Blockchain Congress in India featured how investors and market leading companies across the world are taking it so seriously. This was a very first kind of such event showcasing both potential and possibilities of the encryption based technology to the world. The event was huge success attended by over 5,000 participants along with 200 Indian government officials. Evidently is makes sense that there is keen interest in generating more curiosity about it.

According to Inverse, Abhishek Pitti, CEO of Nucleus Vision (the company co-hosting the event) stated that it only needs a small number of triggers on the global level to pull up the market. The events happening in India are setting major goals for the companies to foresee the potential of the new blockchain technology. In addition to this, he also mentioned that the government is openly supporting the advancement of this technology and cryptocurrency market is following the path. This is a positive sign for the return of crypto trade in the market which has been banned by Reserve Bank of India as of now.

How Blockchain Affects Bitcoin Prices?

Pitti also cited that the crypto market analysts have seen the trend of falling and rising crypto prices in the recent times. The current price of Bitcoin is $7,375 which is far low then what is achieved in December 2017 which was nearly $20,000. But the prices started falling in severely at the beginning of this year especially after the ban regulated by RBI restricting any kind of transaction in the payment system. (Via Bitcoinist)

New blockchain technology enthusiasts predict that the growing interest in this domain will lead to a second annual blockchain congress for sure next year projecting a tenfold increase in the number of participants.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Neha graduated in Electronic Media and has worked with Times group for 3 years with an overall experience of 6 years. She is passionate about learning languages and is a certified French Language Expert and IELTS Trainer. Neha writes breaking cryptocurrency news stories for OWLT Market.

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