Dubai’s Museum of the Future Foundation has organised the second meeting of its recently launched Global Blockchain Council. The Council is planning to support blockchain startups in 2016.

The events proposed by the Council for the year include a blockchain conference in May and a Hackathon which will help startups with job placement and investments, reads the news release issued by the government of Dubai. The activities on the schedule are supposed to take place on an international scale with participants from all over the world.

The meeting promoted the concept of “incubator”, which will define the format of the coming Hackathon. According to the organisers, the event will provide a connection between startups, investors and innovation managers, thus “incubating” new ideas and enterprises.

Blockchain regulations will be another question to focus on, says the release. Tracking the cutting-edge innovations in the world of blockchain and analysing the international experience in blockchain regulation throughout the coming events will pave the way for better regulatory frameworks, thinks Saif Al Aleeli, CEO of Dubai Museum of the Future Foundation and Founding member of the Global Blockchain Council.

Aleeli emphasised that blockchain is gaining high momentum in the world. He also noted that the technology has various implications and is not confined to cryptocurrencies.

The meeting was attended by various member organisations including, among others, world IT giants Microsoft, IBM, SAP and Cisco, digital currency exchange Kraken and regional financial organisations such as Dubai International Financial Center, Emirates NBD and Emirates Islamic.

The launch of Global Blockchain Council was announced by Museum of the Future Foundation on 17 February.

“The Global Blockchain Council will launch different initiatives under its umbrella to highlight and promote Blockchain and digital currencies, and explore its advantages and disadvantages. It will also draw a roadmap for best uses of this emerging technology,” said Aleeli at the opening.

The 32 members of the Council include international IT companies, governmental entities, important regional banks and blockchain firms.

Andrew Levich