Islamic finance and Web3 take stage at Istanbul Blockchain Week

Crezee moderated a panel about crypto financing at IBW 2023.” Highlighting the total progress the crypto environment has actually attained in terms of adoption and reaching more individuals in less than a years, Crezee summed up:” I keep in mind attending crypto events, generally about Bitcoin, in 2014 or 2015. Today, when an occasion attracts less than a thousand individuals, its thought about quite little.”

Being one flight away from both Dubai and London, Istanbul is the “financial capital” of Turkey and a popular destination for companies and events. Its hassle-free place likewise assists organizers customize their events to line up with the specific requirements of Eastern or Western cultures– which felt like the case at Istanbul Blockchain Week 2023 IBW 2023 saw countless international and local enthusiasts join the conversation on crypto, blockchain and Web3 on Aug. 22 and 23 at the Hilton Istanbul Bomonti. Customized to reflect the numerous discussions across the Web3 ecosystem, the events program was filled with keynotes about expert system (AI), policy, Web3 video gaming and blockchain use cases from the genuine world.Aside from the hot subjects to capture the worldwide audience, IBW 2023 also included region-specific talks, such as on Islamic financing and a Shariah-compliant Web3 economy. The explosive development of crypto and Web3 in the United Arab Emirates, especially in Dubai, integrated with the UAEs interest in the Turkish market produced a convenient timespan for organizer EAK Digital to hold this years event, simply 9 months after IBW 2022. Istanbul Blockchain Week 2023 invited a big number of crypto, blockchain and Web3 enthusiasts.Having the occasion in August in Istanbul was a strategic decision, according to Erhan Korhaliller, creator and CEO of EAK Digital. He discussed that its far too hot to have any occasions in summer in Dubai, so they presented Istanbul as a neighboring global center for major players from the UAE– and their technique settled:” We have more than 25 booths this year. A hackathon with a $50,000 reward. […] Having the federal government agents and huge banks with us here during a bearish market is extremely essential.” Aside from the agenda for the primary stage, the occasion hall was packed with blockchain and crypto lovers from various backgrounds networking, holding roundtable discussions and workshops, getting themselves scanned for the metaverse, or just chatting and taking selfies with Desi, the conversational AI robotic from SingularityNET and Yaya Labs.Magazine: Recursive engravings: Bitcoin supercomputer and BTC DeFi coming soonWhile AI, main bank digital currencies (CBDCs) and Web3-friendly fan tokens featured plainly in the primary hall, nonfungible tokens (NFTs) were notably missing. In 2015, there was a whole day and an exhibition devoted to NFTs. “As organizers, we must be versatile and adaptive to what the market is telling us,” described Korhaliller. “NFT trading is like 99% down. The interest plainly is not here, and therefore, were refraining from doing an NFT Day this year.” Islamic financing hackathonSimilar to in 2015, the main stage was divided into a number of occasions to hold speeches, workshops and the IstanHack hackathon concurrently. As keynote speakers presented their arguments around crucial components of Islamic financing, a congested cast of young developers coded against time to produce working services that aligned with the overall objective of the event– promoting ethical financing and sustainable advancement for people dissatisfied with standard banking.IstanHack focused on resolving the needs of Islamic finance.Islamic financing has a target market of 1.9 billion people, the majority of whom are unhappy with standard financing services due to the participation of interest. “Interest is prohibited in Islam,” described Tansel Kaya, an IstanHack juror and founder of Mindstone Blockchain Labs. He told Cointelegraph that more than just the big prize, “the hackathon functioned as an eye-opener for the young talent looking to develop something beyond your ordinary DeFi yield products.” AI takes the stageAI was a hot subject, both on and off stage, throughout Istanbul Blockchain Week, with taking part companies demonstrating their take on how Web3 and AI can be in sync. During his speech titled “The Future of Decentralised Generative AI on Blockchain,” SingularityNET chief marketing officer Loic Claveau noted that for the very first time in history, people have the ability to own their information.” AI is very data-intensive,” he stated, adding, “It needs to run a lots of data to be able to work as you use something like ChatGPT. It is a Big Tech monopoly. […] All the huge behemoths of the tech world, they run and they do it.” Artificial intelligence was among the most popular subjects throughout IBW 2023. According to Claveua, AI designers who deal with a reasonably smaller sized group have 2 options at this point: Working for Big Tech or selling their next huge concepts to Big Tech. “Thats the method to move on in your profession and get into the extremely intriguing jobs. ” Crypto adoption: Slowly however surelyCointelegraph Turkey was one of the media partners of the occasion. “Here in Istanbul, we are still experiencing the impact of a prolonged bearishness, much like the rest of the world,” commented Eray Dengiz, CEO of Cointelegraph Turkey and Kriptomeda. He underscored the value of the active participation from the Turkish banking environment, with major Turkish banks such as Garanti BBVA, Akbank and Yapi Kredi participating in a panel for CBDCs. Röportajlarımız devam ediyor. #IBW 23 pic.twitter.com/oXe6GsK6cw— Cointelegraph Türkiye (@CointelegraphTR) August 23, 2023.

Being one flight away from both Dubai and London, Istanbul is the “financial capital” of Turkey and a popular destination for companies and events. Tailored to reflect the numerous discussions throughout the Web3 environment, the occasions program was filled with keynotes about synthetic intelligence (AI), policy, Web3 video gaming and blockchain use cases from the genuine world.Aside from the hot topics to record the international audience, IBW 2023 also included region-specific talks, such as on Islamic finance and a Shariah-compliant Web3 economy. Istanbul Blockchain Week 2023 welcomed a large number of blockchain, crypto and web3 enthusiasts.Having the event in August in Istanbul was a strategic decision, according to Erhan Korhaliller, founder and CEO of EAK Digital. He described that its far too hot to have any events in summertime in Dubai, so they presented Istanbul as a nearby international hub for significant players from the UAE– and their method paid off:” We have over 25 booths this year. As keynote speakers presented their arguments around crucial aspects of Islamic finance, a crowded cast of young designers coded against time to create working solutions that lined up with the overall mission of the event– promoting ethical finance and sustainable development for people disappointed with standard banking.IstanHack focused on resolving the requirements of Islamic finance.Islamic finance has a target market of 1.9 billion people, many of whom are disappointed with traditional financing services due to the participation of interest.