To say that we live in interesting times would be the understatement of the century. This being said, those on the periphery of the economy of the future such as Shirly Valge are here to tell us that we may have more reasons to be optimistic then you’d think
As the Chief Operating Officer of VelasChain, Valge is no stranger to emerging technology and the enterprises’ pioneering work in the Blockchain space has boundless potential for a number of incoming sectors such as advanced IT management, the future of identity protection and Web 3.0. Her panel during Malta Week 2021’s AIBC summit on Blockchain and the Economy, titled “The Role Of Next Generation Blockchains In Industry 4.0”, began with a through definition of just what the Industrial Revolution 4.0 is. In reference to this, she defines this revolution as a fusion of the physical and the digital world in a way that augments both. She continues by splitting this broad definition into four main pillars.
The first of these pillars, Smart Solutions, refers to digitally enabled products and services that will allow for bespoke solutions for the enterprises of tomorrow, allowing entrepreneurs to break ground with novel answers to age-old problems.
The second, Smart Products, refers to the way in which the wave of technological innovation will spark progress across the board with a new global level of connectivity allowing for a never before seen degree of proliferation and cross pollination of technologies and ideas.
Thirdly, Smart Supply Chains, is an aspect only made more vital due to the recent disruptions caused by the pandemic. Emerging technology will allow for the sophistication and automation of supply chains, becoming a vital foundation and safety net for the economy of tomorrow.
Last but not least, Smart factories will augment the manufacturing sector by optimizing productivity through both enhanced production as well as through more efficient managerial practices and horizontal organization.
Valge continued to state that these pillars will be mainly enabled by a series of frontier technologies that are already starting to make their potential known such as the IoT, advanced robotic systems, 3D painting, AR, Cloud computing and many others. Valge noted that one of the most fundamentally important of these advancing systems will be that of the Blockchain due to the fact that its ability to organize enterprises, communities and even societies in a safe and secure way would be foundational for the world to come.
On the issue of next-gen Blockchain, she argued that the sharing and transfer of information would be instrumental for the emerging economy. These Blockchain enabled systems will need to be built on four fundamental principles in order to be able to take their role as pillars of the global framework to come; Interoperability, Scalability, Decentralization and Security. As an example of such a system, she points to VelasChain as a next-generation Blockchain ecosystem with a multi-million user base that seeks to tackle all the existing problems with DLTs. Amongst many other features, Velas promises the fastest first layer interoperability on the market, 50,000+ TPS and full compatibility with EVM.
The features of the Velas ecosystem would make it instrumental for the rapidly incoming Web 3.0 with an enhanced focus on flexibility and interoperability by having the option for projects to charge tx fees in their native tokens while also maintaining a professional degree of security through the Velas Vault.
Concluding with a quotation from Klaus Schwab that “In the new world, it is not the big fish which eats the small fish, it’s the fast fish which eats the slow fish”, Valge notes that Velas has everything a Blockchain would need and more to be the foundation on which the Industrial Revolution 4.0 would be built.
If you’d like to watch the footage yourself, it and all the other enlightening panels from AIBC’s Blockchain and the Economy session are on YouTube. Follow this link for Valge’s panel and this one to access the rest of AIBC 2021’s panels.
AIBC returns to the United Arab Emirates:
Drawing the leading figures of the emerging tech world to the Middle Eastern metropoles for cutting edge technology, the 2022 AIBC UAE expo plans to unite the policy-makers, developers, C-suite executives, and legal experts of the burgeoning AI and Blockchain sectors. Through three days of educational panels, inspiring keynote speeches, workshops, and networking events, the expo seeks to create the foundation that the Industrial Revolution 4.0 can be built upon. Join us from the 20th to 23rd March 2022, in UAE.