President of The British Blockchain Association Prof. We talked to Dr Naseem Naqvi about both the IFW and the association, and what the metaverse means for utilities and citizens.
Metaverse was one of the prominent concepts in blockchain technology last year. We saw that various projects came to the fore for the metaverse, where controversial comments were made from time to time. The metaverse, which companies such as The Sandbox and Decentraland draw attention to, is actually on the way to become an important tool for the citizens of the country and the public services of the countries. Speaking at a session on ‘Metaverse for Citizens and Public Services’ as part of Istanbul Fintech Week, The British Blockchain Association President Prof. We talked to Dr Naseem Naqvi about both the IFW and the association, and what the metaverse means for utilities and citizens.
Question: What is The British Blockchain Association doing? Can you tell us a little about what you do?
prof. Dr Naseem Naqvi: Established in 2017, The British Blockchain Association (BBA) is the world’s leading industry body advancing the evidence-based adoption of Distributed Ledger Technologies (DLT). BBA wrote the UK’s ‘National Blockchain Roadmap’. The association also publishes The JBBA – Journal of The British Blockchain Association, the world’s first peer-reviewed blockchain research journal available in print and online.
Other initiatives of the association include:
The Evidence-Based Blockchain Center (CEBB), the world’s first industry think tank to develop evidence-based applications of blockchain and crypto assets;
BAF – Blockchain Associations Forum, a global international forum of 53 countries’ blockchain associations;
BBA Scholarships (FBBA);
Blockchain International Scientific Conferences (ISCs);
and other blockchain initiatives.
Last year, we announced our headquarters in the metaverse. We became the world’s first blockchain industry association to do this in the web3 space.
As the founding chairman of BBA, I am responsible for establishing the association’s long-term vision and strategic mission, as well as providing value to our members, partners and the blockchain ecosystem as a whole. Earlier this year, I received a King’s Honor in the UK for services to blockchain and Web3 technologies.
Question: You will give a speech as part of Istanbul Fintech Week. What do you think about the importance of the event in terms of blockchain technology? Do you think such events are important to increase adoption?
prof. Dr Naseem Naqvi: What is lacking in most fintech events is quality. The quality of the speakers, their relevance to the program and the ecosystem can be listed as critical factors when organizing an event to ensure that delegates have a high-quality experience and that the results have the intended impact. I think the organizers did an excellent job putting out the IFW and I look forward to attending the event. Fintech is becoming an increasingly important component of the Web3 and metaverse economies. A clear understanding of fintech as a “tool for goodness” is vital for the pragmatic adoption of blockchain technologies.
Question: You will be giving a talk on ‘Metaverse for Citizens and Public Services’ at Istanbul Fintech Week. What will you tell here? What are the headlines of your speech?
prof. Dr Naseem Naqvi: We are at the dawn of a new era in public service. Creating a citizen-centered metaverse is a challenging but highly rewarding opportunity for governments and the public sector. I’ve said this before in a metaverse keynote I gave in India. If the Metaverse is implemented effectively, nations will reap substantial rewards for decades to come.
Two years ago we created an infographic that summarizes the open metaverse economy and includes three key enablers. This trio is: technology, creators and finance. In addition, the infographic includes seven key components such as permanence, user-centered economy, open source, accessibility and interoperability.
In my talk, I will share some additional insights from our most recent metaverse ecosystem work. I will also share some strategies for companies, governments and policy makers as a worldwide overview of the applied metaverse. For the rest you need to join my talk in Istanbul!
Question: How important is attending IFW for The British Blockchain Association?
prof. Dr Naseem Naqvi: International cooperation is at the heart of our long-term strategy. JBBA has editors from 74 countries, BBA’s Blockchain Associations Forum has 53 member associations from 48 countries, and BBA’s Evidence-Based Blockchain Center has members and advisors from 41 countries. Turkish is one of the 12 languages in which we publish our infographics. We look forward to joining the IFW community and engaging in a dialogue with the Turkish fintech community.
Question: What are the uses of blockchain technology in public services? How far can it expand, does it have an end?
prof. Dr Naseem Naqvi: Public confidence in social infrastructures and central institutions is declining. To argue that blockchain will have a major impact on utilities is an understatement. Governments and public sector organizations around the world are currently exploring how blockchain and Distributed Ledgers can affect day-to-day strategic operations as well as long-term public service operations. Blockchain has reshaped the role of government in terms of how services are provided, information is provided and how they interact with people in a secure, immutable, auditable and efficient manner.
One of the recommendations of the UK National Blockchain Roadmap, written by the BBA in 2021, is to assess the impact of blockchain applications on society and public services. Land registry (Georgia, UK, Sweden, India, South Africa), digital identity management (Switzerland, Estonia, Luxembourg), birth certificates (Brazil), immigration (Finland), organ donation and transplant (UAE), taxation (China), and many other applications have been successfully explored by governments around the world. One example of such adoption is the possibility of company registration departments investigating the use of DLT to process firms’ registration data, according to research published in JBBA.
Very recently, the BBA’s proposal to explore the use of blockchain for electronic voting was presented as a bill in the UK Parliament.
Question: Is Metaverse just a hype? How do you see the Metaverse?
Prof. Dr Naseem Naqvi:Tomorrow’s citizens are already in today’s metaverse. The British Blockchain Association is proud to be involved in many of the “world’s first” metaverse initiatives – we are the world’s first not-for-profit blockchain industry association to establish its headquarters in the metaverse. We have published blockchain research results on the metaverse, and on the metaverse we host regular events where our members and partners network, connect and explore the future of web3 in a simultaneous, persistent and immersive environment. Our Metaverse headquarters has been officially declared a “point of interest” by the metaverse. This is an honor given to places that have established their active presence in the metaverse through events such as hosting events. purpose, community building, leadership, education, collaboration, innovation,