Dublin will host a conference, being organized by the International Organization for Standardization to develop a standard for the Blockchain Industry.
Ireland’s Capital Will Host This Important Blockchain Conference
Dublin, the capital city of Ireland, will be hosting a conference that is being organized by the International Organisation for Standardization (ISO) to work on the standards related to the blockchain industry.
The announcement was made by Michael D’Arcy, Minister of State at the Department of Finance at the “Blockchain for Finance” event in Dublin last week. The conference will be held in May next year.
Switzerland based ISO is an independent body with representatives from 162-member countries. The organization creates and promotes standards for different industries.
Ireland’s Blockchain Eco-System
As the adoption of blockchain based decentralized systems and cryptocurrencies increases around the world, many countries have smelled the economic opportunity that it presents.
The news has come as a boost for Ireland which wants to carve out a place for itself on the global blockchain map. Terry Landers, chairman of the National Standards Authority of Ireland’s ICT consultative committee, describing the decision as a “major coup” said:
We’re expecting about 200 people to attend and are planning several outreach events to coincide with it to share expertise with policymakers, small enterprises and so on.
Landers also serves as the chief standards officer for Microsoft EMEA region (Europe Middle East and Africa).
Currently, Ireland is home to some local and multinational firms in the blockchain space including Aid:Tech, ArcNet, Circle First Data, and ConsenSys, a company started by Joe Lubin, co-founder of ethereum.
Deloitte also has its blockchain laboratory in Dublin while Mastercard has announced its intentions of setting up a facility in Leopardstown.
Blockchain technology which uses a distributed ledger to record transaction details is gaining traction not only in fintech but across multiple industries due to its ability to process instant transactions in a trust-less environment and eliminating the possibility of frauds.
Eoin Fitzgerald, a senior development adviser in fintech at Enterprise Ireland, while being upbeat about Ireland coming up as a blockchain destination is concerned about the lack of skills in the country. He said:
We’ve so many companies fighting for talent here currently and this I think is the biggest challenge we face over the next few years.
The announcement about the conference being held in Dublin will create the required momentum that the European nation desires. Though the local regulators have not yet established crypto regulations, coming up with them is essential if the country wants to attract investments from abroad.
Do you think Ireland can emerge as a blockchain and crypto friendly country? Let us know in the comments below.
Images courtesy of The Irish Times, Shutterstock