Simplifying the definition of blockchain, Daw said that it is a new way to save data in a way that enables anyone to access them easily in case they are authorized.
CAIRO – 13 December 2019: Businessman Sherif al-Daw, one of the participants of the World Youth Forum (WYF) set to start in Sharm el-Sheikh on December 14th, said that Egypt has experience in the blockchain technology.
This came during a session dubbed “Blockchain: A Revolution in the Digital World,” held in preparation for the WYF which aims to display the impact of blockchain on digital technology, its uses in the economic realm, limitations, the dangers of illegal activity through blockchain, and how to maximize the positive side of blockchain.
Simplifying the definition of blockchain, Daw said that it is a new way to save data in a way that enables anyone to access them easily in case they are authorized.
Through blockchain, we can exchange data of the individuals on each network in a general or a private way easily, Daw said. At the same time, it is so secure and allows new chances in business, including the ability to manage business in a modern way as it saves time and effort, he added.
He affirmed that Egypt has a suitable technology infrastructure that enables blockchain to be implemented. “The infrastructure in Egypt is in continuous progress.”
Daw said such technology will help develop this infrastructure even faster, as the former would exploit the available capabilities in the technological network, which has been developed over the past years.
Such technology will help Egypt be in line with other nations including Dubai which is set to fully shift to the blockchain in 2020, and Singapore, which is already working to implement it within two years.
The World Youth Forum’s focus on blockchain has been of interest to many of the youth, Daw said, adding that they have the desire to know more about updates of technology.
The agenda of the 3rd edition of the WYF was released on Tuesday indicating that the conference will consist of 16 panels discussions.
There are seven sessions on technology, three sessions on the Mediterranean, two sessions on Africa, one session on women, one session on climate change, one session on peace and security, and one session on arts.
The forum management planned to organize theatrical shows set to be presented starting December 13 with the opening, to bring together promising artists from all over the world to present their talents and represent their cultures through a variety of cultural and artistic activities.
Sophia, the most advanced robot and first artificially intelligent (AI) robot to be granted a citizenship will participate in the WYF as well.
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