TechCamp explores blockchain
10 April, 2018, 12:00 am
THE future of money and trading is rapidly changing globally with the advent of the digital currency space and payment systems with the use of cryptocurrency through blockchain technology.
While the technology is already reshaping the ownership, transfer, storage, and security of many different types of data worldwide, it also presents the possibilities of it being eventually introduced in the Pacific.
Realising this may raise debate, questions and discussions on its complexities; the nascent Fijian blockchain community has chosen to firstly raise awareness on the potential and opportunities of blockchain technology in Fiji and the Pacific.
In doing this, a local tech company — TraSeable Solutions partnered with the US Embassy and the University of the South Pacific to conduct the first ever local workshop on the topic using the TechCamp concept.
The Blockchain TechCamp commenced yesterday at the USP Japan-Pacific ICT Centre at Laucala Bay, Suva with experts and participants from the United States, Pacific Island countries, Australia, and New Zealand.
The workshop focusses at the current and possible future applications of blockchain technology primarily in the Pacific.
An example of the use of blockchain technology in the Pacific is its use in the combat against illegal, unreported and unregulated tuna fishing through an initiative spearheaded by the World Wildlife Fund in Australia, Fiji and New Zealand.
WWF had partnered with US-based software company ConsenSys and TraSeable Solutions to help tuna fishing and processing company Sea Quest Fiji to track tuna from when it was caught through to the supply chain processes using blockchain technology.
Blockchain technology has been said to have the potential to improve global transparency, productivity, and effective regulation.
In the modern digital economy, businesses have embraced blockchain technology for everything from health care administration to real estate to the food supply chain.
The TechCamp program, which continues tomorrow, includes sessions on blockchain in the energy sector, climate action, security and eliminating child trafficking, humanitarian and recovery programs, telecommunications, fisheries, supply chain management and other topics of specific relevance to the Pacific region.