The importance of collaboration on blockchain technology in our island
The core mission of our organization is to promote technologies that link industries, the public sector, and academia while integrating key stakeholders through a foundational and transparent structure provided by appropriate standards.
Blockchain technology has all the necessary requirements to provide this approach's basis. By being inherently decentralized and encrypted, blockchain has become a ground for new ecosystems with little to no respect for national legislation. Since this lack of respect is essentially 'unbiased', it leads naturally to international collaboration, already seen in the international efforts to standardize and regulate this emerging area of technology, as well as in the advances in the legal status and applications of smart contracts.
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The blockchain can also provide a means to streamline public and government interactions, with associated opportunities for consumers and businesses. With this collaborative effort, individual nations can be recognized and included in research and associated benefits of implemented projects.
CyBT’s vision makes it clear that while each participant in the consortium focuses on a variety of different points, identifying different goals and aiming for different milestones while dealing with different hurdles about the particular status of the island’s blockchain engagement and development, there is a strong convergence towards a mutual level of benefit strongly related to growth and regulated integration by directly participating into CyBT.
For a world that aims to move to a citizen-centered approach, where data is controlled by its owner, an approaching shift is required, involving the need to reconceptualize and instantiate the Internet based on its foundational intentions, where trust is integrated into every part of the infrastructure. In this structure, identity, rights and citizenship will be embedded at the core and properly define identity and enact smart contracts which do not need a third party to be involved.
To this end, which might not respect but transcend international borders, laws and rights, international as well as interdisciplinary collaboration is a requirement to build an infrastructure that can scale from the local level (micro) to a global level (macro), with new models of operation and laws recast into and enacted as smart contracts.
According to the facts and the science involved, a blockchain-based digital economy is expected to have the ability to act as a catalyst for growth and provide a platform on which international, borderless, innovating practices can thrive and lead toward a genuinely collaborative global economy by facilitating novel approaches and solutions to profoundly rooted and long-lasting problems of the currently implemented economic model, thus benefiting the wider community.
In this collaborative context, society allows the digital economy to flourish and grow regardless of local particularities, such as geopolitical ideologies. Blockchain technology has the potential to unite nations because it offers an alliance of a variety of internationally relevant application areas across industries.
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We unite Cyprus’ community of blockchain stakeholders from all industries and sectors, irrespective of size and power.