The Arizona-based World Tokenomic Forum LLC is holding a blockchain summit in the Cayman Islands from May 8-10 at the Marriott Beach Resort.
The event, called the World Tokenomic Forum, will bring more than 100 professionals and 16 startup companies to discuss the issues facing the blockchain industry.
The summit will also see the conclusion of the “Sandcastle Startups Challenge,” a Shark Tank-like competition where blockchain companies pitch their business ideas to a panel of judges. The challenge started with 137 businesses, and the final 16 will compete at the World Tokenomic Forum in Cayman. Cayman Enterprise City CEO Charlie Kirkconnell will be one of the judges at the competition.
The winner will receive a US$250,000 software and services contract from Syncrasy Technology, according to World Tokenomic Forum Chairman Chris Snook.
In addition, 10 students who are a part of Cayman Enterprise City’s “Summer in the City” internship program will attend the event.
Mr. Snook said his organization is a group of investors, companies, government regulators and other blockchain-related entities. Cayman Enterprise City is a member of the consortium, paying an annual fee of US$100,000, he said.
Mr. Kirkconnell said supporting initiatives like the World Tokenomic Forum is important to developing Cayman’s tech sector.
“As an industry partner member of the World Tokenomic Forum, we are excited to welcome international guests, who are passionate about creating an efficient, prosperous, and transparent global economy to the Cayman Islands on an annual basis,” he said.
In addition to about six to eight events put on each year, World Tokenomic Forum members receive the latest industry data and other research, said Mr. Snook.
The World Tokenomic Forum is the second major blockchain conference to be held here this year.
In January, the “d10e” conference was held at The Ritz-Carlton, with dozens of people in the cryptocurrency and blockchain industry coming to the island to network and share ideas about how the technology can influence all aspects of society.
That event also featured an “initial coin offering pitch competition” where startup blockchain entities pitched their ideas to a panel of judges in hopes of winning a US$100,000 investment prize.
Cayman is becoming a destination for blockchain startups; according to Mr. Kirkconnell, some 50 blockchain companies have established or are in the process of setting up shop at “Cayman Tech City” – the recently branded branch of the special economic zone that caters to tech-related entities.
More information about the World Tokenomic Forum can be found at www.worldtokenomicforum.com.