In a noteworthy gathering for the Web3 community, the Internet Computer Protocol (ICP) hosted the Chain Fusion Hub at Token2049 Singapore on September 19th and 20th, 2024, ahead of Singapore's celebrated Formula One Night Race. The event took place at the iconic Fullerton Hotel Singapore and united leading figures in blockchain technology for two days of thought-provoking discussions, innovative collaborations, and insights into the future of Web3.

Key Highlights from the Event

• A New Era of Bitcoin Integration: The Chain Fusion Hub Singapore event showcased pivotal solutions for the Bitcoin ecosystem, happening alongside the integration of Internet Computer Protocol’s (ICP) ckBTC, a non-custodial, chain key digital twin of BTC, into the Cosmos network.This groundbreaking development, powered by Osmosis and Omnity, promises to abdicate the controversial wBTC, and revolutionize how users transact Bitcoin interoperably within the DeFi space.
• Building the Infrastructure for the Future: The event featured a series of focused sessions exploring the potential of Web3 across various sectors. From AI-powered smart cities in ‘AI Web3 City’ to interoperable blockchains in ‘Chain Fusion Day’, speakers like Kumardev Chatterjee of Blue Hat Founders, Du Yu of Wanxiang Blockchain Labs, Dominic Williams, Chief Scientist of DFinity Foundation, Louis Liu, Co-Founder of Omnity Network and Sunny Aggarwal, Co-Founder of Osmosis, shared valuable insights into the future of this transformative technology.
• Fostering Collaboration and Innovation: The Chain Fusion Hub provided a platform for industry leaders to connect, collaborate, and explore new opportunities. Through the AI Web3 City panels, Bitcoin roundtable discussions, VC <> Startup networking event by Cointelegraph Accelerator, and dedicated sessions for RUNES 2049, attendees had the chance to share ideas, build partnerships, and drive innovation in the Web3 space.

Event Highlights from Chain Fusion Hub @ Token2049 Singapore ‍

https://www.youtube.com/watch?v=UPbaKuAW1nE

ICP, Omnity and Osmosis: Paving the Way for a Better BTC Experience

Omnity and Osmosis are enhancing their platforms for Cosmos users by integrating ckBTC, which will create a more secure, efficient, and user-friendly approach to interacting with Bitcoin in the DeFi ecosystem. This integration improves interoperability, enabling users to easily move their Bitcoin assets among various DeFi applications and protocols. Consequently, it minimizes friction and facilitates increased involvement in the larger Web3 ecosystem.

Moreover, since ckBTC is a non-custodial solution, users maintain full control over their funds, eliminating the counterparty risk often tied to traditional wrapped Bitcoin methods. With Omnity and Osmosis, users can enjoy the added security that ckBTC brings, reducing the risk of their assets being compromised. This collaboration not only expands access to DeFi applications but also offers increased liquidity, enhanced interoperability, and improved security, providing numerous advantages for users.

Kumardev Chatterjee, Du Yu and Dr. TRY Sophal on City Planning and the possibility of Blockchain-powered ‘Cognitive’ Cities at AI Web3 City 

On the first day of the event, Tracy Traschler, Head of Institutional Relations at Dfinity, moderated a panel discussing a pressing question: “What will Smart Cities actually look like in the near future and where do you see AI and Blockchain fitting into this?” The CEO of Blue Hat Founders, Kumardev Chatterjee, offered intriguing insights, pointing out the technological and situational challenges that designers and developers encounter during implementation. He emphasized the need for collaboration between the public and private sectors to sustainably create cities that can truly be considered "smart."

Echoing Kumardev’s thoughts, Mr. Du Yu, General Manager of Wanxiang Blockchain Labs, highlighted the necessity for manufacturers to collaborate with the government in establishing smart-powered industrial superplants. He stated that these plants would pave the way for future smart infrastructure. “We want to attract different people, different industries, and different research institutions through the land. What we need from the government is to approve the planning, help build the infrastructure, and what we can do is bring new talent, bring new industries into this plant to form this cohesive, smart city-focused ecosystem,” explained Mr. Du Yu.

Speaking from a government perspective, Dr. TRY Sophal, Director General of the Ministry of Science and Technology in Cambodia, highlighted the obstacles the government encounters during implementation. Nonetheless, he reinforced that the move toward smart cities is inevitable and that Cambodia is leading the way in this transformation.

In the conversation about the impact of AI and blockchain on smart cities, the notion of "cognitive" cities emerged. Chatterjee explained the difference, stating that smart cities can exist without AI and blockchain. However, he emphasized that incorporating these technologies would offer intelligent data, potentially unlocking new opportunities for urban living.

Pierre Samaties and Michael Terpin on The Future of Investing in AI, Silicon Valley and AI Innovation Landscape

Kicking off Day Two, Pierre Samaties from Dfinity gave a welcome address for ICP, stressing the significance of building a decentralized, AI-driven ecosystem on the Internet Computer. He mentioned that more than 60 AI projects are in progress on the platform. This was succeeded by a lineup of panels that discussed the newest developments in AI technology and raised questions about the potential collaboration between AI and blockchain.

Michael Terpin spoke about the move from centralized computing to decentralized AI, emphasizing that decentralized AI adoption in blockchain is advancing rapidly. He explained that this growth is fueled by the technology's capacity to seamlessly connect all stakeholders, which greatly diminishes the need for intermediaries like individual data centers and enhances access to blockchain data.

The event concluded with captivating project showcases from the ICP ecosystem, such as Decide.AI, an AI-powered DAO that employs Internet Computer’s blockchain to operate OpenAI’s GPT-2 model on-chain.

The Chain Fusion Hub Singapore - A Significant Step Forward for Web3

The Chain Fusion Hub held in Singapore was more than just an event; it served as a reflection of the quick advancements and expanding potential of the Web3 ecosystem. The integration of ckBTC, insights into the development of smart cities, and discussions surrounding AI's future role all highlighted the transformative power of new technologies.

The event effectively promoted collaboration, sparked innovation, and showcased the real advancements being made toward a decentralized future. The Chain Fusion Hub Singapore will leave a lasting legacy of excitement and anticipation, highlighting the vast potential of Web3 to transform industries, empower individuals, and create a more connected and efficient world.