Bali Blockchain Summit

Sponsored by Polkadot and hosted by Mandala Chain, the Bali Blockchain Summit gathered government officials, tech experts, and business leaders to discuss strategies for enhancing blockchain usage not only in Indonesia but also in other emerging markets.

Indonesia’s Vision

Indonesia is focused on becoming a leader in the digital economy, heavily investing in blockchain technology. Under its ambitious “Indonesia Golden Vision 2045,” the country integrates five key technologies: artificial intelligence, IoT, metaverse, quantum computing, and blockchain into its economy and everyday life.

The Role of Blockchain

Blockchain is expected to play a crucial role, offering improved transparency, security, and efficiency across both public and private sectors.

Denpasar Mayor Gusti Ngurah Jaya Negara emphasized blockchain’s potential, stating it will enhance transparency and efficiency for public good and drive Indonesia’s prosperity.

Practical Applications

Speakers during the summit discussed practical applications of blockchain, including:
– Land registry
– Public health records
– Product authentication
Mandala Chain announced plans to integrate its IDCHAIN solution with government agencies to onboard over 10 million users in partnership with PANDI, the official .ID domain registry.

Collaborations and Future Plans

Mandala Chain is collaborating with local governments to pilot decentralized identity systems in banking, healthcare, and smart city projects. In partnership with Polkadot and KILT Protocol, they aim to expand blockchain infrastructure beyond Indonesia and into emerging markets, leveraging Polkadot’s scalable technology and KILT’s digital identity solutions.

Funding Options

The summit coincided with Polkadot’s release of a comprehensive guide on funding options for projects and individuals at various development stages. This guide covers:
– Venture capital
– Ecosystem-wide grants
– Specialized development grants
– Community-driven funding
– Project-specific grants
– Bounties

Opportunities outlined range from small grants to multi-million dollar funds, emphasizing areas like DeFi, gaming, and infrastructure.