PNG Central Bank seeks local blockchain enthusiasts to implement its 'Proof of Concept'

THE Bank of Papua New Guinea (BPNG) has spent the last past two (2) years researching and trialing the use of Distributed Ledger Technology (DLT) in Papua New Guinea. 

Having successfully completed a Proof of Concept in both an urban setting (Port Moresby) and a rural setting, Lalaura Village, Abau District, Central Province, the Central Bank has been presented with an opportunity to train suitable qualified and enthusiastic Papua New Guineans to develop the skills and capabilities to build a variety of business solutions using blockchain technology. 

The Central Bank is in a mission to identify the level of interest within the PNG software development community whom can be able to participate to implement the Proof of Concept.

BPNG Governor Loi M. Bakani is calling on interested Papua New Guineans who are keen for a training opportunity in blockchain technology to contact the bank. The training will commence in early 2019. 

In a statement released to PNG media, Mr. Bakani stated that prior to committing time, resources and money (funding) in enabling the implementation of the Proof of Concept, a pool of blockchain enthusiasts from PNG to be identified and selected.

In association with the APEC 2018 meeting, an International Blockchain Pasifik 2018 conference was hosted in October in Port Moresby, gathering a pool of blockchain enthusiasts and startups in PNG and the Pacific.

The Blockchain Pasifik 2018 conference was sponsored by the Australian Government and supported by PNG Government which sees a pool of interesting blockchain startups from PNG and the Pacific.

Blockchain Pasifik 2019 conference will be announced earlier next year.

The Central Bank does not wish to receive registrations of interest from individuals who have no particular interest in technology, programming or problem solving.

This is not directly related to immediate employment opportunities with BPNG.

For more information about the BPNG training on blockchain technology and its application in PNG, email: abina@bankpng.gov.pg or visit www.bankpng.gov.pg

PNG's Blockchain Pasifik proudly launches the Junior Blockchain Challenge

A CALL to uniquely design blockchain challenges based on real-life problems that companies and/or organizations face, thus providing true blockchain solution to solve complex situations while securing its adequate and smooth implementation are initiatives undertaken globally by various governments. 

In Singapore, the Infocomm Media Development Authority (IMDA), advocates for a digital economy for a smart nation and promotes a blockchain challenge that sees its participants to produce Blockchain-enabled solutions going beyond financial solutions.

The Smart Dubai Office (SDO) also facilitates Blockchain challenges to startups in Blockchain application businesses.

In Papua New Guinea, the Blockchain Pasifik, in the true spirit of inclusive, the Junior Blockchain Pasifik Challenge was launched recently, and is in full swing.

Four schools in the National Capital District, Port Moresby International School (POMIS), Kila Kila Secondary School, Don Bosco Technical Institute, and Kopkop College will participate in the inaugural challenge.

The competition requirement is for each School Team to prepare a Proof of Concept Paper on blockchain projects for PNG or the Pacific.

The teams will pitch their ideas during the PNG Leaders blockchain session on 10th October, at the grand event, and will be judged by blockchain experts from all over the world.

The top concepts will win cash prizes and possible funding from investors or government.

Outstanding individual talents will be placed in a talent pool for further development via junior internships under blockchain projects in PNG, or abroad.

All schools will undergo weekly mentoring workshops, leading up to the Main Event in October

The Junior Blockchain Pasifik Challenge is funded by the Australian Government and facilitated by Em Stret and Blockchain Pasifik. 

Blockchain meet up in Port Moresby, Papua New Guinea

CryptoTech Ventures & Consultancy Limited is hosting a public event with the theme ‘Cryptotech blockchain Meet’ on Saturday 23rd February 2018 at Lamana Hotel in Port Moresby. They are running some courses for public in Papua New Guinea.

Bitcoin and other virtual currencies are made possible by what’s known as blockchain technology. Blockchain is essentially a global public ledger capable of automatically recording and verifying a high volume of digital transactions, regardless of location. The course teaches the basics of what Bitcoin is as well as delves deep into the technology side of things, cryptography, time hashing, etc.

You will also learn a great deal about Blockchain, which is actually the tech that powers Bitcoin and all other crypto currencies and also learn how to perform simple crypto currencies trading using the exchanges.

Benefits:
i. Gain broader knowledge and understanding on how Bitcoin, Crypto & Blockchain Market work.
ii. Learn how to setup your own Bitcoin or Altcoins wallet and start transacting.
iii. Learn how to trade crypto currencies using exchanges
iv. Bitcoin is an alternative investment, which offers exponential returns, however markets are volatile. It has a distinct advantage over other market, that being its 24/7 liquid marketplace.
v. Learn to use Bitcoin as a Hedging tool for achieving Financial Freedom and Wealth Creation.
vi. Be part of a bigger Crypto and Blockchain community

Who should attend:
i. Anyone who wants to get involved with Bitcoin & Crypto currencies
ii. Anyone who wants to know Blockchain and how it could transform your organization
iii. Anyone who wants to learn how to trade crypto currencies
iv. Anyone who would wants Financial Freedom

Topics:
[Session 1: 9am - 5pm]
1. Bitcoin, Cryptocurrencies & Blockchain Technology,
2. How Bitcoin actually works; the technology, the exchanges
and the regulatory side of things,
3. Types of Blockchain and Platforms,
4. Ethereum and Smart Contracts,
5. Blockchain Use Cases for PNG,
6. Guide to setup Bitcoin & Altcoins wallets & Transaction Demo,
7. Wallet security & privacy,
8. Basic Crypto-Trading,
9. Bitcoin Economics,
10. ICOs vs. STOs,
11. And many other relevant topics.

[Session 2: 7pm - 9pm]
BeWELL Blockchain Project Presentation

Date: 23 February 2019
Day: Saturday
Time: 9am - 9pm
Venue: Lamana Hotel, Port Moresby
Speaker: John David (MBA & DBA UK, CEO & Founder of ASIA Blockchain Solutions and Cryptotech Ventures & Consultancy)
Ticket: https://www.eventbrite.com/e/cryptotech-blockchain-meet-up-bewell-project-presentation-tickets-53692253977

Fees: (Take advantage of the early bird fee)
Early Bird #1: K180 Only (Register & Pay by 15 Jan 2019)
Early Bird #2: K220 Only (Register & Pay by 31 Jan 2019)
Normal Fee: K280 Only (Register & Pay by 10 Feb 2019)

Fees are inclusive of:
i. Tea Breaks (Morning, Afternoon and Evening)
ii. Lunch
iii. Training Materials (Pdf copy)
iv. Certificate of Participation

Conditions:
i. Closing Date: 15 February 2019
ii. Registration is only confirmed once payment is done.
iii. Payment can be performed online. For beneficiary details kindly refer to our admin.
iv. This is a public event and open to anyone who is interested to learn about blockchain technology, smart contract and crypto-currencies.

Requirements:
i. Bring along your own smart devices or laptop and ensure it is fully charged.

Get you ticket NOW! https://www.eventbrite.com/e/cryptotech-blockchain-meet-up-bewell-project-presentation-tickets-53692253977

Organizer:
Cryptotech Ventures & Consultancy Limited
Contact us: 74882944 / 75284124
Email: info@cryptotechventures.co
Url: www.cryptotechventures.co

Blockchain expert unravels the riddle of the merging technology in Papua New Guinea

Blockchain is an emerging technology that has the potential to advance finance literacy. However, there is still much to know about this technology. Centre for Excellence and Financial Inclusion analyst PERCY LARRY gives an overview of what Blockchain means in the Papua New Guinea’s context.

What is the Blockchain?

Larry: The Blockchain is a new concept which really is a decentralised database that stores a registry of assets and transactions across a peer-to-peer network.

The term Blockchain is derived from its structure where blocks (or bundles of information or records) submitted by users are stored in a chronological chain.

Every entry into the Blockchain is stored in a cryptographic file and cannot be copied or tampered with by anyone else.
It is more or less a public registry of titles and transactions.


How does Blockchain work?

Larry: Blockchain works on a system of validation and trust and has an interesting property.
It operates as a distributed ledger open to everyone and once data is recorded in the Blockchain, it is very difficult for anyone to change it.
It provides a way to record and transfer data that is transparent, safe, auditable and resistant to outages.

To demonstrate, the first Blockchain called the “genesis block” holds source information or record that is referenced through successive blocks.
With the Blockchain, it is very difficult to tamper records which is its selling point.

People from all over the world validate available information and any falsified information is easily detected and removed. Information is verified and stored using advanced cryptographic software making it secure.
Each block has three components and they all play an important task in protecting data that they store.

The three parts that make each block is the Data, Hash, and Hash of the previous Block.
A classic example of the Blockchain is Wikipedia.

The Wikipedia website is accessible by people from all over the world, however, only its authorised contributors can submit and amend articles in its database.

The Blockchain appears in other forms as well like the search engines.
One doesn’t need to create his own search engine but can simply log onto Google and even sign up for web mail service (Gmail) with Google.


How can the Blockchain benefit Papua New Guinea?

Larry: The Blockchain technology can be applied across multiple areas to improve life for many people in Papua New Guinea and the Pacific Region.
One for instance is the voting system, whereby tampering will be eliminated resulting in a fair and safe election process.

The Blockchain will validate votes by ensuring legitimate votes are cast and counted.
Agriculture and medicine are other vital areas that can be effectively managed through the use of the Blockchain.

Medical drugs can be traced from the source to the shelf.
The entire supply chain for all medication can be tracked online which is vital for all governments, especially in ensuring that their medical supplies are genuine so they can help their citizens.

The same can be said for agricultural produce and any other product where consumers feel they are part of the Blockchain network ensuring authentication and quality.


Challenges for the Blockchain in PNG

Larry: For the Blockchain to be effective, a reliable Internet network is required. However, in Papua New Guinea, the Internet is generally expensive, including devices such as mobile phones and computers.

Internet connectivity among the different service providers is good but outages can cause big delays in connectivity for two to three days at times, so engaging an alternate ISP is crucial.

It is anticipated that the Government of PNG will upgrade the Internet highway from Australia which will result in quicker and cheaper Internet service in the country.
Literacy is an additional issue that the Government of PNG is addressing through its free education policy in all public schools.

In December 2017, the Bank of PMG hosted the first PNG Digital Commerce Association (PNGDCA) gathering.

This association will pave the growth of Blockchain Technology in PNG.
The PNGDCA will be officially launched in 2018.

It currently comprises of over 50 stakeholders from the banking, finance, business and mobile industries.

President of the PNGDCA Isikeli Taureka is confident that the Blockchain will revolutionise the process of trading and payments in the country.

Source: The National newspaper

Port Moresby supports blockchain technology in Papua New Guinea

The National Capital District Commission has given K50,000 to support the Blockchain Pasifik 2018 convention.

Governor Powes Parkop made the presentation and launched the event in Port Moresby yesterday.

Event team leader Rex Paura said Blockchain Pasifik was a Papua New Guinea initiative. The event will be held from Oct 11 to 12 at the Convention Centre in Port Moresby.

“It will include a blockchain start-up expo, panel discussions featuring PNG and foreign experts on various uses of blockchain, investor opportunities for local and Pacific start-ups and a schools’ competition,” Paura said. Parkop said blockchain technology had the potential to help PNG and the Pacific to fast track into developed economies.

“I want to invest public money in this technology to explore it, as to how it will be useful in providing solutions and building our economy here in Port Moresby and PNG.”

Source: The National newspaper