The Internet Computer Protocol (ICP) hosted a groundbreaking event, Chain Fusion Hub @ Token2049 Singapore, in the Web3 space from 19-20 September 2024 ahead of Singapore’s signature Formula One Night Race. Held at the iconic Fullerton Hotel Singapore, this exclusive event series brought together the brightest minds in blockchain technology for two days of insightful discussions, groundbreaking collaborations and a glimpse into the future of Web3. The main contents of this event are as follows:
Key highlights of the event
- A New Era of Bitcoin Integration: The Chain Fusion Hub Singapore event showcased a pivotal solution for the Bitcoin ecosystem with the integration of ckBTC on the Internet Computer Protocol (ICP), the non-custodial chain key digital twin of BTC, into the Cosmos Network. Osmosis and Omnity promise to abandon the controversial wBTC and revolutionize the way users interoperably trade Bitcoin within the DeFi space.
- Building infrastructure for the future: The event featured a series of intensive sessions exploring the potential of Web3 across a variety of sectors. From AI-powered smart cities at ‘AI Web3 City’ to interoperable blockchains at ‘Chain Fusion Day’, Kumardev Chatterjee of Blue Hat Founders, Du Yu of Wanxiang Blockchain Labs, Dominic Williams and Louis Liu, chief scientists at DFinity Foundation, and more. Speakers including Sunny Aggarwal, co-founder of Omnity Network and co-founder of Osmosis, shared valuable insights on the future of this innovative technology.
- Promote collaboration and innovation: Chain Fusion Hub provided a platform for industry leaders to connect, collaborate, and explore new opportunities. AI Web3 City panels, Bitcoin roundtable discussions, Cointelegraph Accelerator’s VC<>startup networking event, and dedicated sessions at RUNES 2049 will provide attendees with the opportunity to share ideas, build partnerships, and drive innovation in the Web3 space. I had a chance.
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.
ckBTC’s integration improves the interoperability of these platforms, allowing users to seamlessly move their Bitcoin holdings between various DeFi applications and protocols. This reduces friction and makes it easier for users to participate in the broader Web3 ecosystem.
Additionally, as a non-custodial solution, users have full control over their ckBTC funds. This eliminates the counterparty risk associated with traditional wrapped Bitcoin solutions. Using Omnity and Osmosis, users can enjoy the enhanced security benefits offered by ckBTC and reduce the risk of their assets being compromised.
By providing expanded access to DeFi applications, improved liquidity, improved interoperability, and enhanced security, this partnership benefits users in multiple ways.
Kumardev Chatterjee, Du Yu and Dr. TRY Sophal talk about urban planning and the potential for blockchain-based ‘cognitive’ cities in AI Web3 City.
On the first day, Dfinity’s Director of Institutional Relations, Tracy Traschler, moderated a panel discussing the burning question: “What will smart cities actually look like in the near future, and where do AI and blockchain fit into this?” Blue Hat Founder CEO Kumardev Chatterjee gave some interesting insights highlighting the technical and contextual obstacles that designers and developers face during the implementation phase and the importance of public-private sector collaboration to build sustainable cities that can be considered ‘urban’. Yes. smart’.
Mr. Du Yu, General Manager of Wanxiang Blockchain Labs, echoed Kumardev’s industry-focused sentiments, emphasizing the need for manufacturers to work with governments to build smart-based industrial super plants that would pave the way for other smart-based infrastructure. Built in the future. “We want to attract different people, different industries, different research institutions through our land. What we need from the government is to approve the plan and help build the infrastructure, and what we can do is attract new talent and bring new industries into this factory to form a cohesive, smart city-centric ecosystem. It is,” Mr. Du Yu said.
From the government’s perspective, Dr. TRY Sophal, Director General of Cambodia’s Ministry of Science and Technology, pointed out the obstacles the government faces during the implementation phase, but once again emphasized that the transition to smart cities is inevitable, and that Cambodia is leading the way.
The idea of ‘cognitive’ cities emerged around the role of AI and blockchain in smart cities. Chatterjee explains the difference, arguing that smart cities already exist without AI and blockchain. What AI and blockchain will bring is intelligent data, and integrating AI and blockchain will open up a whole new level of possibilities for urban life.
Pierre Samaties and Michael Terpin discuss the future of investing in AI, Silicon Valley, and the AI innovation landscape.
Day two began with a welcome speech from ICP by DFinity’s Pierre Samaties, explaining the importance of building a decentralized AI-based ecosystem on the Internet of Computers. He said that to date, more than 60 AI projects are being built on Internet computers. This was followed by a series of panels discussing the latest AI technologies in development, followed by questions about how AI and blockchain can create synergies.
Regarding the shift from centralized computing to decentralized AI, Michael Terpin pointed out that the adoption of decentralized AI on blockchain is occurring at a rapid pace due to its ability to seamlessly connect all stakeholders. This significantly reduces reliance on intermediaries such as individual data centers and fosters more. Efficient access to blockchain data.
The event concluded with a showcase of several interesting projects from the ICP ecosystem, including Decide.AI, an AI-based DAO that leverages the Internet Computer’s blockchain to run OpenAI’s GPT-2 model on-chain.
Chain Fusion Hub Singapore – Significant Progress for Web3
Chain Fusion Hub in Singapore was more than just an event. This was evidence of the rapid development and growing potential of the Web3 ecosystem. The integration of ckBTC, insights into smart city development, and discussion of the role of AI in the future all highlighted the transformative power of emerging technologies.
The event successfully fostered collaboration, sparked innovation, and demonstrated that real progress is being made in building a decentralized future. Chain Fusion Hub Singapore leaves a legacy of excitement and anticipation, demonstrating the enormous potential of Web3 to reshape industries, empower individuals, and build a more connected and efficient world.