The Internet Computer Protocol (ICP) hosted a groundbreaking event in the Web3 space – Chain Fusion Hub @ Token2049 Singapore from September 19th to 20th, 2024, preceding Singapore’s iconic Formula One Night Race. This exclusive event held at the historic Fullerton Hotel Singapore gathered leading experts in blockchain technology for two days of insightful conversations, innovative partnerships, and a glimpse into the future of Web3. Here are some key takeaways from the event.
Key Highlights from the Event
- A New Era of Bitcoin Integration: The Chain Fusion Hub Singapore event introduced crucial solutions for the Bitcoin ecosystem, coinciding with the integration of Internet Computer Protocol’s (ICP) ckBTC, a non-custodial, chain key digital twin of BTC, into the Cosmos network. This significant development, facilitated by Osmosis and Omnity, aims to replace the controversial wBTC and transform how users engage with Bitcoin interoperably within the DeFi space.
- Building the Infrastructure for the Future: The event featured focused sessions exploring the potential of Web3 in various sectors. From AI-powered smart cities in ‘AI Web3 City’ to interoperable blockchains in ‘Chain Fusion Day’, speakers like Kumardev Chatterjee of Blue Hat Founders, Du Yu of Wanxiang Blockchain Labs, Dominic Williams, Chief Scientist of DFinity Foundation, Louis Liu, Co-Founder of Omnity Network, and Sunny Aggarwal, Co-Founder of Osmosis, shared valuable insights into the future of this transformative technology.
- Fostering Collaboration and Innovation: The Chain Fusion Hub provided a platform for industry leaders to connect, collaborate, and explore new opportunities. Through the AI Web3 City panels, Bitcoin roundtable discussions, VC <> Startup networking event by Cointelegraph Accelerator, and dedicated sessions for RUNES 2049, attendees had the chance to share ideas, build partnerships, and drive innovation in the Web3 space.
Event Highlights from Chain Fusion Hub @ Token2049 Singapore
ICP, Omnity and Osmosis: Paving the Way for a Better BTC Experience
By integrating ckBTC, Omnity and Osmosis will provide Cosmos users with a more secure, efficient, and user-friendly way to interact with Bitcoin within the DeFi ecosystem.
The integration of ckBTC enhances the interoperability of these platforms, allowing users to seamlessly move their Bitcoin holdings between different DeFi applications and protocols. This reduces friction and makes it easier for users to participate in the broader Web3 ecosystem.
Moreover, as a non-custodial solution, users have full control over their ckBTC funds. This eliminates the risk of counterparty risk associated with traditional wrapped Bitcoin solutions. By using Omnity and Osmosis, users can benefit from the enhanced security provided by ckBTC, reducing the risk of their assets being compromised.
By providing expanded access to DeFi applications, increased liquidity, improved interoperability, and enhanced security, this partnership benefits users in more ways than one.
Kumardev Chatterjee, Du Yu and Dr. TRY Sophal on City Planning and the possibility of Blockchain-powered ‘Cognitive’ Cities at AI Web3 City
On the first day, Tracy Traschler, Head of Institutional Relations of Dfinity, moderated a panel to discuss the future of Smart Cities and the role of AI and Blockchain in it. Panelists highlighted technological challenges and public-private sector cooperation needed to build sustainable smart cities.
Mr. Du Yu, General Manager of Wanxiang Blockchain Labs, emphasized the importance of collaboration between manufacturers and government to develop smart-powered industrial infrastructure, creating a cohesive ecosystem for smart cities.
Dr. TRY Sophal, Director General of the Ministry of Science and Tech in Cambodia, discussed the inevitability of transitioning to smart cities and Cambodia’s proactive approach towards it.
The panel also discussed the concept of ‘cognitive’ cities, noting that AI and blockchain integration would unlock new possibilities for urban living.
Pierre Samaties and Michael Terpin on The Future of Investing in AI, Silicon Valley and AI Innovation Landscape
Pierre Samaties from DFinity highlighted the importance of building a decentralized AI-powered ecosystem on Internet Computer, with over 60 AI projects currently in progress. Discussions on the synergy between AI and Blockchain and the shift towards decentralized AI were also central to the event.
Michael Terpin pointed out the rapid adoption of decentralized AI in blockchain to connect stakeholders seamlessly, reducing reliance on intermediaries and enhancing access to blockchain data.
The event showcased projects like Decide.AI, demonstrating the potential of AI-driven solutions using Internet Computer’s blockchain.
The Chain Fusion Hub Singapore – A Significant Step Forward for Web3
Chain Fusion Hub in Singapore was more than just an event; it highlighted the rapid evolution and potential of the Web3 ecosystem. The integration of ckBTC, insights into smart city development, and discussions on AI’s role underscored the transformative power of emerging technologies.
The event fostered collaboration, inspired innovation, and showcased the progress in building a decentralized future. Chain Fusion Hub Singapore exemplifies the exciting potential of Web3 to reshape industries, empower individuals, and create a more connected and efficient world.