Category: News

It was nothing short of sheer energy and excitement as the people of Taiwan were eager to hear what some of the greatest pioneers in the crypto and blockchain community had to say at World Blockchain Summit – Taipei.

#WBSTaipei was all about paving the way for Taiwan to become a leader in blockchain innovation.

The legitimacy of cryptocurrencies are still often a topic of debate in India, however, its underlying technology of blockchain has caught the fancy of many.

With technological entrepreneurs claiming blockchain as the next big virtual asset, this distributive ledger looks promising for otherwise centralised private sectors such as commercial real estate (CRE).

Though the outcome of adopting this technology in the realm of real estate may be unspecified at this moment, there is no doubt that implementing blockchain into CRE will initiate a more transparent procedure while eliminating the need of escrow services that are usually a part of such acquisitions.

Distortion in India’s land market contributes to a whopping 1.3% decrease in the national GDP. Coming to think of it, that is more than $3.1 Billion worth of money that is lost in land scams and bribes every year, the permanent solution of which lies with blockchain.

Tackling bribery in Real Estate

As per a report by the Government of Andhra Pradesh, buyers and sellers in India pay upwards of $700 million (Rs 4,500 crores) every month in bribes to land registrars across the country. Those trying to buy a piece of this earth would know that it is not an easy task to clear documents across the property trail. From negotiating with the brokers to handling the notary procedure, this process is both time consuming and corrupted.

Technological intervention in such a situation can, however, work wonders! By using ledger based technologies in real estate, not only will the corruption be minimised but also transaction costs arising from other mediatory interventions will go down efficaciously, lowering the property prices.

Applying blockchain technology to CRE will ensure easy access to all governmental approvals, eliminating the need of smoothening the hands of many during the course of purchase. This will render the process frictionless, and data manipulation and forgery almost impossible.

The main highlight of this incorporation will, however, be the advent of smart contracts that will encompass the digital time stamp and IP address of the parties involved in the investment, permanently recorded and available across multiple systems to numerous viewers, bringing an end to years of property disputes.

Why could blockchain mean so much?

Case Study: Adarsh Society Scam – A 31 story apartment building constructed to originally house the Kargil war heroes and their widows, saw influential bureaucrats and wealthy politicians as its new occupants. What was originally designed to be a six storied building constructed on sensitive defence land, soon became the epicentre of a high profile land scam and money laundering case.

There were allegations that apartments worth 8 crores in the Adarsh Society, were sold to the kin of politicians in the Maharashtra government, all registered in the name of proxy owners. Ashok Chavan, who was the CM of the state at that time was caught to have colluded with other high ranking defence personnel, in concern with the land ownership of this Mumbai prime location.

As an immediate effect, Mr.Chavan was stripped of his title as the State’s CM by his party.

In 2011, the Maharashtra government set up a bench to look into this matter and found 25 illegal allotments, all given as ‘gifts’ to politicians involved in the property trail. Additional 40 flats were allocated to civilians, defeating the purpose of constructing the building in the first place.

As the case developed further, it was also noticed that the building had no official environmental clearance from the concerned ministry, but a fake NOC from the ministry was submitted during the initial submission.

Now, in a scenario where blockchain is incorporated in this field, this scam would not have been able to materialise. The environmental clearance could not have been forged as was seen in this case, since all the authorisation would have been catalogued digitally on the ledger. The ownership of flats by proxy owners would have also been phased out since details of all the allotments would have been available for further verification.

Tax evasion on this property as was recorded by the court would have also not been possible.

Thus, incorporating blockchain in real estate looks promising because it will model a reliable and steady business ecosystem, sans the scams. Given as in a report, two-thirds of the civil cases in the sub-continent are made up of land and property disputes- something that will effectively dissolve with the integration of blockchain in the field of property estate.

Though every day we witness striking developments in the field of blockchain, we have, however, only managed to scratch the surface of this otherwise far-reaching field. Still being in the inceptive stage, the implications of this ledger based technology on different industries are still rather ambiguous.

The World Blockchain Summit is a platform where key industry experts and blockchain elites will come together to discuss and respond to the speculations encompassing blockchain technology. The event will have an exclusive line-up of visionary speakers who will further explore new avenues that blockchain technology will open across various industries and sectors alike, along with hosting a one of its kind product and startup showcases. To be a part of this distinctive show or to know more about it, click over here.

Being the IT capital of South Asia and home to some of the highest paid top global CEOs, India is all set to jump on the blockchain bandwagon. The nation is a leader in producing IT infrastructure and manpower with more than 50% of its population being below the age of 25 and more than 65% below the age of 35.

However, labour is just one among the other factors of production that India can offer. Despite the nation’s rich financial and technological infrastructure capacity and the Indian government’s support, there is still a great deal of scepticism around blockchain technology.

How can corporates leverage blockchain on their innovation journey? What are the adoption challenges for enterprises? What encompasses the Legal and Regulatory landscape in India and What will be the impact potential of Blockchain in the BFSI Sector?

You will hear the answers to all these questions by these preeminent speakers at the internationally acclaimed global tech event series – World Blockchain Summit India 2019.

Dr. Sourav Sen Gupta is a researcher, positioned precariously at the confluence of Computer Science, Mathematics and Engineering, and an ardent student of art and science of Cryptology and Information Security.

As such he is well-versed regarding the disruptive nature of emerging technologies like blockchain.

In an exclusive interview by Fintech Valley Vizag, he gives his opinion on the impact of blockchain on the economy.

Can you tell us the top driving factors for businesses to adopt blockchain technology?

A transparent peer-to-peer consensus of value amongst parties with conflicting goals is one of the biggest unsolved problems in any business, and blockchain provides a secure publicly-verifiable framework to solve exactly the same. The platform for consensus and incentive design in blockchain is the crucial factor.

In your opinion, what industry sectors do you think the blockchain will disrupt the most?  

Banking and finance, of course, are the first two that come to mind. However, blockchain technology has the potential to bring forth disruptive solutions in Healthcare, Supply-Chain, Insurance, Property Market, Electronic Voting, Electronic Auction, Taxes, and Open Governance. There may be much more than what we have not even started to imagine!

While the blockchain trend is still at a nascent stage, what challenges do Indian organizations face to implement?

I would stress on only one challenge, the one I consider to be primary. I believe it is crucial for an organization to identify scenarios in which a Blockchain solution is suited the best, that is, in which Blockchain provides a substantial advantage over existing solutions.This requires mapping a business problem or process directly into a blockchain framework, maintaining its core principles, and thereby get an edge over alternative solutions.

This, in my opinion, is the toughest job.

Can you share a few benefits of blockchain adoption to our readers?

Transparency and Anonymous Peer-Reviewed Consensus would be my first pick. Efficiency, Security, and Unforgeable Record-Keeping would be close seconds.

How close are we from seeing a paperless economy with the help of cryptocurrencies?

The economy can be paperless even without cryptocurrencies, and PayTM is a glaring example. A more pertinent question is — “Is it possible that cryptocurrencies will bring in a new age of decentralized economy beyond banks and governments?” I would say YES, provided the banks and especially the governments finally accept the new paradigm, and support the initiatives.

‘Blockchain is here to stay’ is the headline everywhere. What’s your take on that?

I see Blockchain today as Operating Systems were in the 1970s. People have in fact started fighting over their favorite OS platform, and their programming language of choice, and we will have to wait to see which corporate giant wins the fight in the long run. Nevertheless, people have already started writing “applications” on the open-source Blockchain platforms, and this trend will usher in a bright future.

Tell us a bit about your upcoming session at the ‘Blockchain Business Conference’?

I am going to be a part of the “Technology of Trust” panel discussion and would love to talk about the security aspects of blockchain and cryptocurrencies.

What are your expectations from the Blockchain Business Conference?

I am looking forward to an erudite discussion about the development and growth of Blockchain Technology in India. I would love to know more about the practical problems in security and privacy of Blockchain solutions, talk to the practitioners in the field, and be a part of the Blockchain movement ushered in by the AP Govt.

Would you give a piece of advice to the governments of nations who fear to adopt blockchain or in the process of implementation?

In my humble opinion, every Government prefers a stable time-tested solution over a path-breaking new technology. Although it is natural to assess and reduce the risk of accepting a new paradigm, it is also of paramount importance to gain an early-movers advantage in areas that will prove to be crucial in the long run. I believe every Government should strive to cut through the hype of Blockchain and Cryptocurrencies and explore the core technology to its fullest potential.

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Malaysia is going to be a well-regulated crypto market soon.

Due to the uncertainty that has arisen with regard to cryptocurrency in the past few weeks, the Malaysian Securities Commission has clarified on certain positions it holds regarding digital assets.

Last month has been a ‘no picnic’ season for Malaysian crypto-exchanges, with the possibility of RM10 mn fine and 10 years prison looming over ever since the Capital Markets and Services Order 2019 was announced by Finance Minister Lim Guan Eng.

Fortunately, the ambiguity has been lifted off the air with Securities Commission Malaysia (SC) declaring its much-anticipated framework for crypto-exchanges and digital assets.

The current framework will come under the purview of SC’s guidelines on recognised markets, which is the same that is employed to regulate equity crowdfunding and P2P lending members. Under the same guideline, the regulator has amended a section to include new obligations for crypto exchanges.

One of the significant revelations is that the Securities Commission refutes is the blanket consideration of crypto-assets as securities.

Digital Assets Considered Securities

As per the directions provided by the Federal Gazette website, a digital asset is said to be a security when:

Condition 1:

1. It is traded in a place or on a space where offers to sell, purchase, or exchange of, the digital currency is always made or accepted.
2. An investor or a trader expects a return in any kind from the trading, conversion or redemption of the digital currency or the increase in value.
3. When it is not issued or guaranteed by a government body or a central bank as defined by the Commission.

Condition 2:

For crypto tokens which embodies the rights or interests of a person in a particular order where:

1. The person gets crypto tokens in exchange for a consideration.
2. The consideration or contribution from the person and the income or returns are pooled.
3. The income or returns of the arrangement are caused because of any holding, acquisition, management or disposal of any assets or business operations.
4. The person expects a return in any form from the trading or redemption of the crypto token or appreciation in its value.
5. The person does not have any control over the day to day management of assets or business of the arrangement; and
6. The token is not issued or guaranteed by any government body or central banks as may be specified by the commission.

New Guidelines and Requirements for Crypto Exchanges to Operate in Malaysia.

The improved guidelines are classifying crypto exchanges as a Digital Asset Exchange Operator. In brief, the following are some requirements that crypto exchanges need to comply with, in order to function in Malaysia.

The following are some of the essences of the guideline. For a more precise read, it would be better to visit the Securities Commission Malaysia’s website.

1. 5 Million paid-up capital against approval and prior to commencement.
2. Limitations in giving financial assistance to investors/customers for the purposes of purchasing cryptocurrencies/digital assets.
3. A strong risk management system must be put in place to ensure a high degree of security and authenticity.
4. Prior to listing on the exchange, the cryptocurrencies and digital assets have to be approved by SC.
5. The platform should have firm rules and procedures in place for the trading and clearance settlements of Digital Assets.
6. Should have clear, concise and fair disclosures that are not deceiving to investors.
7. To only allow trades that are carried out using Ringgit Malaysia and other legal tenders.
8. Institute one or more trust account in a Malaysian licensed financial institution.

Under the updated guidelines, anybody who is interested in running a digital asset platform is required to apply to the SC, to be registered as a verified market operator by 1 March 2019.

Commenting on the updated guideline Datuk Syed Zaid Albar, SC Chairman stated that the current framework and guidelines are part of SC’s attempt to support innovations while ensuring investor protection in trading of digital assets. Also, he added that even though the framework is to aid the investors they are suggested to be mindful of the risks such as unexpected volatility and liquidity risks when dealing with digital assets.

Meanwhile, the industry leaders and government official are going to gather at World Blockchain Summit in Kuala Lumpur to shed lights on the Malaysian economy for active legislation for blockchain based service providers and guidelines for ICOs

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• Prime Minister Narendra Modi urges the use of Blockchain and AI for agriculture

India is one of the largest producers of agricultural commodities in the world, with nearly 18% of the nation’s GDP attributable to the agricultural sector. The Indian agricultural sector suffers a huge blow every year due to distorted supply chain processes and outdated equipment. With the support of the Prime Minister, fourth industrial revolution technologies such as Blockchain and AI will promise a brighter future for Indian farmers. – Inc42

• Indian-Based Blockchain Startup raises US$ 1 Million from Accel Partners

The hype around blockchain is certainly not going to die anytime soon as the demand for the almost incorruptible platform seems to be soaring. Among the numerous blockchain startups that are on the rise, Streamsource is one such company that helps lenders use customer data without compromising its security. Entrepreneur India

• Indian IT giant Wipro is helping Thai companies implement Blockchain

Project Inthanon launched by the Bank of Thailand aims to provide a system that will allow banks to form an interbank network that will facilitate payment settlements using the Central Bank Digital Currency (CBDC). Phase 2 of the project will involve New York-based blockchain software company R3, eight commercial banks in Thailand and Bengaluru-based IT firm Wipro. – Business Standard

• Airtel awards a multi-million-dollar contract to US technology giant IBM to deploy blockchain

India global telecommunications service company Bharti Airtel will deploy the world’s first ‘Multi-Cloud Telecom Blockchain network’. The multi-million dollar contract has been awarded to international tech giant IBM to set up a “Shared Ledger Technology (SLT)” based pan-India business network for Airtel to safeguard its 284 million subscribers from unscrupulous and pesky calls and messages. ETTelecom.com

• Telangana on course to become the blockchain capital of India

Telangana has set the bar high for other Indian states when it comes to blockchain leadership. The Government of Telangana has announced a new draft policy that will spell out regulatory and policy support to blockchain startups in Hyderabad. The blockchain draft policy will include a 25% subsidy on lease rentals up to ₹ 5 Lakhs for blockchain startups. Other Indian states that are actively promoting blockchain technology are Kerala, Karnataka, Maharashtra, Andhra Pradesh and Rajasthan. – Inc42.

• Blockchain technology for Indian Farmers

The International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), Eleven01 and KHETHINEXT have entered into a three-way partnership to provide a transparent marketplace to smallholder farmers in India. The initiative will aim to assist farmers in accessing agricultural-based market intelligence to boost the productivity and income of smallholder farmers in India. – Down To Earth

• World’s Largest Ocean carriers to join TradeLens

TradeLens – An open digital shipping platform that will enable global traders to access shipping data for the supply chain ecosystem. The blockchain-based digital shipping platform which was jointly developed by IBM and Maersk will now on-board two major marine cargo carriers, Mediterranean Shipping Company (MSC) and CMA-CGM on the platform along with other carriers. According to IBM, the combined partnership will account for nearly half of the world’s ocean container cargo data. – Coindesk

• Singapore: Educational certificates to now be validated on the blockchain

Students from educational institutes in Singapore can now upload their certificates in digital form on the blockchain. The Singapore Govt. led initiative ‘OpenCerts’ plans to eradicate the use of paper certificates and make the process more flexible for employers to validate the qualifications of potential job candidates via the blockchain. – Tech in Asia

• R3’s Corda blockchain platform to support cross border payments for credit unions

Following the recent collaboration with Wipro, the Bank of Thailand and eight other commercial banks in Thailand for Project Inthanon, R3 has expanded its partnership with Denver-based credit union, CULedger to provide a blockchain platform that will fortify cross border payments for credit unions. The synergy will aim to protect the credit unions from the risks of fraud and cybersecurity. – IBS Intelligence

• New Zealand Blockchain Group to Request Government Blockchain Strategy

While countries around the world are developing their own blockchain adoption strategy, New Zealand is also in the race for blockchain democratization. New Zealand-based blockchain industry group BlockchainNZ will request a national strategy for blockchain from the New Zealand government. Blockchain NZ’s experts will work together to give a presentation to the New Zealand Parliament to highlight the financial and economic benefits of blockchain. – Cointelegraph

Jake Vartanian is the founder of Cryptodex and Habitat Ventures, a contributor to Blockchain News, and an advocate of decentralization since early 2011.

He has worked with high profile startups including Bancor, TokenCard and SingularDTV, helping to design token models, telling the stories behind these projects, and building digital ecosystems.

Trescon recently got in touch with him, in order to gauge his opinion about the rise of blockchain.

What can be the driving factor for the adoption of blockchain in businesses?

The most important thing is that people take time to understand the technology – namely what it can and cannot do for them. Once they are familiar and comfortable with the technology, adoption will become far easier.

What can be the takeaway for the other nations of the world with Dubai’s move towards a blockchain based-government?

One must start slow. When the small infrastructures are taken care of and accounted for the big ones will eventually fall into place.

In your opinion, what are the industries that blockchain is going to impact the most?

In my opinion, provenance, finance, and supply chain are the industries that blockchain is going to impact the most.

Is it entirely possible that cryptocurrencies like ethereum and bitcoin might usher in a new age of paperless economy?

We were moving away from paper with or without Bitcoin and Ethereum. The cryptocurrencies such as those will move us away from being controlled and enslaved by tyrannical governments.

If blockchain is truly here to stay what do you feel about how it will turn out for the best in the future?

I believe that blockchain will give complete freedom to everyone who seeks to make the best use out of it.

Tell us about your session at the ‘World Blockchain Summit’?

I will be presenting about how new models of value can emerge from digital token design. There will be a how to create specific types of models as well as how to build effective communities around the models.

Do you see a future where bitcoin mining and ethereum mining technologies become a part of mainstream life?

No, I do not think that such an event will be taking place anytime soon.

Do you think emerging technologies like Blockchain can educate communities of people about the immense value it holds?

Blockchains are databases that are trustworthy. It just creates a fairer and a transparent system in the long run.

What are your expectations from the summit and what possible key takeaways are you looking at?

I want to meet people who are building the future and educate people about the healthiest ways to move into this emerging paradigm.

Blockchain technology has inadvertently become the hottest topic of discussion when discussing about ledger based technology. And Artificial Intelligence is another, completely different concept that has garnered equal and competitive traction. But imagine the possibilities when these two worlds collide?

This article is a brief insight that delves into this collusion. Cryptocurrency has been touted as the future of financial transactions and modules. Different countries have started taking a firm and resolute stance on the incorporation of a standardized and regulated cryptocurrency. The Big 4, which are the world’s largest accounting firms namely E&Y, PwC, KPMG and Deloitte, have started incorporating blockchain into their operations and are further developing this technology into different sectors.

But whilst referring solely to cryptocurrency, AI has found a way to get involved. In the field of Bitcoin mining, everyone has stepped up to take part and thereby making it more difficult to mine. As the number of miners increase per day, the difficulty in solving the block code becomes harder by default! Also, the sheer computing power and electrical surge required to mine bitcoins has gone up seismically! Bitcoin mining machines require Gigawatts and hours-to-days to mine bitcoins. The speed of computing power is termed as FLOPS (Floating Point Operations per Second). Currently, the total power input for bitcoin mining is roughly around 8.22×1023 FLOPS across the globe. But the total average computing power used on a daily basis for regular activities is only around 1.23×1023 FLOPS. A rough calculation has deduced that bitcoin mining consumes close to 18 percent of the global computing power, contradicting the reality that this power could be used more productively.

And this is where AI enters.

Specifically designed AI algorithms can be created to solve the block codes and mine bitcoins. AI Company ‘Matrix’ is in the process of re-designing mining algorithms by including an AI into the sequence using a Markov Chain Monte Carlo (MCMC) algorithm. This algorithm functions closely to the principle of mining and thus can be used for this specific operation. The AI can operate with lower power consumption numbers as compared to the bitcoin mining machines or ASIC’s (Application Specific Integrated Circuit).

This makes it cheaper to operate and increases profitability for mining. The speed at which the AI can solve the block code is also greater. A basic over the counter ASIC is known to be able to mine approximately 0.05 bitcoins per day, as long as the required power is supplied. A specifically constructed AI would be able to mine twice this amount with half the power requirement roughly!

Apart from mining, Intel recently filed a patent for a piece of technology that is in development in their labs. The AI powered system will harness the energy (Heat and Electrical) output from the process of cryptocurrency mining and use it for other purposes, which is genetic sequencing in their case! Different companies are developing suitable technologies to harness this power to fuel other research capabilities in the fields of chemistry, financial module simulation and even medical diagnoses!

By effectively using the excess power and contributing to the reduction of power consumption in cryptocurrency mining, AI has effectively optimized the Blockchain industry. AI has cemented itself as the future of every industry! It is now the era of disruptive technology and AI is the disruption!

Many companies have either started incorporating AI tools into their operations or are further sourcing these innovative solutions through a variety of means, including attending summits like the World AI Show on 16-17 April, 2018 at The Address Dubai Mall in UAE.

At the World AI Show organised by Trescon, representatives of AI startups and innovators will be introduced to decision makers from different organisations around the world.

Together Blockchain and cryptocurrency could bring numerous benefits for Sharia finance. Indeed, their recent collaboration is building potential new markets and opportunities.

Islamic financial institutions have started adopting Blockchain technology for complex financing terms, Sharia-compliant insurance, transactions and others.

Meanwhile, among Islamic Communities, there has been concern about whether digital currency would be considered as illegal under Sharia law. Islamic scholars have different perspectives on what is Sharia-compliant. Some schools deny cryptocurrencies, while some others have accepted it.

Recently, the Egyptian Grand Mufti has declared Bitcoin as haram on grounds of gambling and money laundering.

However, among those weighing on cryptocurrency is the Chairman of the Sharia Advisory Council, Datuk Dr Mohd Daud Bakar, who addressed the above concerns quite concisely on COIN.my and speared a ray of hope for crypto-fans.

He brought the main issues regarding Sharia and Crypto into the discussion, and we will look through these issues quickly so as not to drag this discussion longer than required.

His discussion mainly focused on 5 major issues.

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1. The issue with legal tender status.

Virtual currencies are not backed by the government and most of them are not treated as legal which makes many people think that it is haram and against Islam.

However, this does not mean that digital currencies could not be controlled by authorities, as the government is still accountable in ensuring the continuity of any form of financial activity that can be considered as a significant risk to the nation.

The recent declaration from the Securities Commission Malaysia (SC) on the framework for crypto-exchanges and digital assets answers this issue with Sharia.

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2. The issue with the need for intrinsic value.

Currency in Islam requires an intrinsic value to be recognised as legal in terms of Sharia. This is an argument that some scholars point out.

Looking from another perspective, there is no question that Dinar or any fiat currency has an intrinsic or underpinning value, not because they are currencies but due to their unique features.

However, in Sharia discussions regarding the fiqh (understanding) of currency whether in the past or present, there is no mention of the necessities of a specific currency that abides with the Sharia law to be underpinned by any assets.

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3. Issues with the crypto’s market price.

Due to the extreme volatility of cryptocurrency prices, people consider it as gharar (uncertainties), which is haram in Islam.

The value of crypto can fluctuate, Datuk Mohd Daud thinks that this is what caused some authorities to state crypto as haram, but people misunderstand the difference between uncertainty and risk.

In Sharia, the risk is part of everyday life. Buying share, homes, and even buying gold is risky. In fact, any fitrah (instinct, or original human nature) from Allah S.A.W (salla-llahu-alayhi-wa-sallam) has its risks. So these price fluctuations in the crypto market can’t be considered as gharar.

Also Read:  Why Bitcoin is not a murky market for Tim Draper?

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4. Cryptocurrency can’t be regulated

Cryptos are considered as haram because of the perception that digital currencies can’t be monitored and will lead to illegal financial activities such as not abiding with the KYC policy, money laundering, funding terrorist organizations etc. Public thinks that these are true and will ultimately threaten the financial ecosystem.

But in reality, any transfer, exchange and transaction linked to digital currencies are done openly through a secured and open network, where tampering without consent is impossible. Here, controllers can take part in the monitoring process as they have access to every transaction.

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5. Cryptocurrency fraud schemes

It cannot be denied that in a contract when terms are not clear, it is possible that many will be involved in scams. Interestingly, this occurs generally in other transactions such as real estates, stocks etc.

The fear is only because of assumptions that are neither relevant nor applicable only to cryptocurrencies, as shown in many cases of how crypto exchanges are hacked, and cannot be used as an argument for restricting the usage of digital currencies.

But with the recent regulations and stringent policies, these scams can be controlled.

As a Sharia scholar and practitioner, he is being a part of the world’s biggest Blockchain summit series, World Blockchain Summit in Kuala Lumpur.

Datuk Dr Mohd Daud Bakar sits on the Sharia Advisory Boards of various national and international organizations including the Securities Commission of Malaysia, and Central Bank of Malaysia. He is also President and CEO of the International Institute of Islamic Finance, Inc., Malaysia.

Planning on what to do with your time after our AI event is over? Don’t worry. With a high beaming nightlife and an equally mesmerising picturesque daylight view, the ‘City of Canals’ has much to offer for everyone at all times of the day, making it one of the most popular tourist destinations. We have compiled here a list of activities for you to do in Amsterdam which will surely let you soak in the surreal charm and history of this place.

1. Rent a bike and discover the cobbled lanes

The best way to get around in Amsterdam is through a bike. With special pink paths created on the roads just for the cyclists, you are sure to enjoy the scenic beauty of the city while you cycle along the canals in the city. If you are looking to enjoy the famous Tulip fields of Holland, make sure to catch a train to Harlem (yes you can carry your cycle with you inside the train) and bike your way through the appealing Tulips.

2. Feel the adrenaline rush on this swing

The A’DAM Lookout- 360° is Europe’s largest swing overlooking the Amsterdam skyline. Situated on the 22nd floor of the A’DAM Tower, this Skydeck offers its visitors a chance to witness the panoramic view of the city. The swing is not for the faint-hearted since attached just by a harness, it swings back and forth at a scary height of 100 meters above the ground, overlooking a water body.

3.  Feel the taste of history through these museums

Be it the famous Van Gogh museum or the Rijksmuseum, there is something for every history lover at Amsterdam. One of the must visit places for every art fanatic has to be the Van Gogh museum where the famed artist’s paintings are on display, making it the second most visited museum in Amsterdam after the Rijksmuseum. The latter museum also houses exquisite painting and antiques from celebrated artists through time.

4. Night Museum Party

This is something that you wouldn’t want to miss. For all the night fiends, the Museum N8 offers its visitors a chance to participate in artistic activities of the museum and then dance away till dawn. This is your chance to dress up in elaborate cocktail dresses and have a feel of living in the medieval times.

5. Living the Fluorescent Dream

Adding to Amsterdam’s quirky museum lists, this museum is based on fluorescent geology where everything on display glows in the dark. Called the Electric Ladyland museum Tweede Leliedwarsstraat, this place is sure to put you in awe of the wonders of nature.

6.  For the foodies

Dutch cuisine without a doubt has a unique flavour to itself. When in Amsterdam, do not forget to check out the wide array of cheese that this place has to offer. From pesto to beer flavoured cheese, you are sure to tingle your taste buds with the huge variety of cheese options available here at every nook and corner. Also make sure to catch the street carts selling frites or fries, topped with every imaginable topping and Herring, a small fish which is the signature dish of the Netherlands.

7.  Anne Frank House

Another treat for the history lovers, you can catch a glimpse of the infamous Anne Frank House where the Jewish wartime story of Anne Frank was penned down by the writer herself. The front part of the house has been turned into a museum with artifacts from that time. The rear end of the house has, however, been left as it is to let the visitors get a feel of the place where Anne Frank resided for two years in hiding.

8. Venture into the canals

Also called the ‘Venice of the North’ because of the numerous canals running through the city, one of the best ways to discover Amsterdam has to be through its waterways. You can take a guided tour of the canals or if you are a boating fanatic, you can also rent your own boat. Options for water sports like kayaking and rowing are also available in plenty.

9. For the fashionistas

Ever wondered the fashion trends of the times gone by? Then this is just the place for you. The Tassen Museum of Bags and Purses houses more than 5,000 artifacts that comprise solely of purses and bags collected through ages.

10. Play on a giant chess board

The Dutch are known to be great patrons of chess. Their enthusiasm for the game is thus, seen in the large chess board that resides in the lively Leidseplein square. Named after the country’s most successful chess player, the Leidseplein is almost always crowded by chess enthusiasts eagerly waiting for their turns.