CIT reviews Block Chain Apps in support of digital transformation

10 Jan 2018

The Chamber of Information Technology & Communications (CIT) announced organising its first conference in 2018 on the future solutions and applications of block chains, to shed light on their importance to maximise the added value for member companies.

The event is also scheduled to witness the announcement of CIT’s programme in cooperation with Information Technology Industry Development Agency (ITIDA) in support of the small and medium enterprises. This comes as part of the integrated vision to review the alternative solutions for the financial support to companies and help them achieve their development plan, according to the programme of the Central Bank of Egypt (CBE) aimed at financing SMEs.

Blockchain software technology is an integrated system that includes more efficient and secure applications than cryptocurrencies. It works uniquely to address the challenges of mutual trust. Blockchain is considered the cornerstone of the digital transformation that has become a necessity for all business sectors, not just the financial services sector.

According to global forecasts, this new technology is expected to achieve a business volume of up to $6bn by 2023. The applications will expand in financial services, healthcare, logistics, public sector, telecommunications, agriculture, real estate, and legal services.

The meeting aims at raising awareness of modern technology through three main axes: the importance of the business sector and the advantages of technology, solutions and applications used to support both service providers and entrepreneurs, in addition to reviewing a number of success stories to share the experience and the benefit.

The meeting will also include an educational technical presentation of the main components and platforms for implementing the blockchain technology in encrypted digital currencies, encrypted digital contracts, as well as personal and independent entities verification.

Through the meeting, CIT aims to shed light on the technical strengths of blockchain as a means of digitising operations and services through the use models around the world, to identify ways to use this technology in various key sectors, and to map the implementation of an integrated plan to employ its applications and practical solutions.


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