The Blockchain has become popular in the West with its multiple application, but it has also made its way to Asia. This is precisely the reason why Cointelegraph has powered BlockShow Asia: to be in the emerging industry there and reveal the newest Blockchain solutions bringing businesses together from all over the world.
The Blockchain in Asia
More than half of the world’s large corporations are looking into Blockchain (distributed ledger technology) with some of them turning to Asia. In Asia fintech startups have generated billions of dollars of revenue. With this surge of investments in Asia Bloomberg Intelligence analysts Francis Chan and Zhen Qin, predict there will be a substantial rise in investment of Blockchain startups in the region. Some of the largest corporations have gotten their big break implementing Blockchain technology in Asia.
In November 2016, R3, a fintech startup based in New York that leads a consortium of over 70 of the world’s leading banks and financial institutions, opened the R3 Asia Lab in Singapore to research and develop Blockchain solutions for the region’s financial services firms.
KPMG in Singapore has introduced Digital Ledger Services. Additionally, KPMG expanded has partnered with Microsoft to work on Blockchain initiatives. Microsoft will be providing Blockchain as a service platform and KPMG providing its comprehensive suite of services, which in turn will help clients efficiently and securely move to the cloud for storage. These distributed ledger services will help companies implement Blockchain technology.
KPMG is not alone. The Bank of Tokyo-Mitsubishi UFJ (BTMU), Japan’s largest bank, is working on using the Blockchain for real-life contract management. The bank will use Blockchain technologies to redesign and better manage service-level agreements.
Take the time to check out more influencers in that region demonstrating the benefits of the Blockchain and its necessity to spread worldwide.
Sopheap Lao (劉鴻基), technologist, Innovative Entrepreneur | XNotes Alliance Limited
Sopheap Lao launched XNotes Alliance which is one of the few organizations that are making use of the Blockchain and offering the technology in the real-world enterprise applications, creating a deeper impact in the growing sharing economy. The company developed XNotes Technology, a decentralized transaction system that implements a groundbreaking business-driven, currency-agnostic and energy-efficient approach to Blockchain, allowing trusted issuers to create and disseminate their assets securely in peer-to-peer digital transactions.
Soheap Lao says, “I would rather define myself as a technologist as I have been fascinated by technologies and the way they have the ability to shape the world, in anything people do in their everyday life. Being in the fintech industry is a natural combination to me and been in the startup scene since 2009.”
Amit Goel, co-Founder & MD at LTP + MEDICI, Top 20 FinTech Changemaker/Influencer
He launched Let’s Talk Payments (LTP) in 2013, as a content and research platform for the expanding fintech industry. LTP has been successfully reporting on the fintech industry news and delivering original insights daily. He is also behind MEDICI, the new FinTech research and engagement platform powered by LTP, unique in that the subscription based platform offers a great combination of insight, interactivity and engagement to serve the diverse set of stakeholders in our innovation ecosystem.
Juwan Lee, fintech & Social Media Influencer, Speaker, Entrepreneur, Silicon Valley Venture Capitalist & Investment Professional
Juwan is the CEO of NexChange, but that is not all he spent 30 years within the financial services industry, managing portfolios for hedge funds, proprietary trading desks and asset managers. His company has close connections with Asian banks and authorities.
“The startup community in Hong Kong is very supportive. Hong Kong has been easier to get started. We also see the government is really making a concerted effort to provide more education and funding. I am beginning to see more foreign startups wanting to expand to Hong Kong,” Lee comments.
Alex Medana, co-Founder & CEO FinFabrik, Board Member Fintech Association HK, Public Speaker
Medana has a way with words, and his simplification of complex issues and technologies makes him popular in public speaking. He has made his mark in Asia by multitasking, becoming a Board Member of EU Chamber of Commerce in Hong Kong as well as creating FinFabrik.
To the question what must companies/financial institutions do to integrate and adopt the Blockchain technology he has this to say, “We have to separate the Blockchain from the distributing ledger. I believe now in 2016, at the end of 2016, the distributed ledger works better when there are transactions, or in banking exchanging data information, that information may or may not come from Blockchain. But Blockchain the way it works really well is where you have data information, imagine KYC where we have one piece of data, think golden source of data…Don’t think that Blockchain is the end all be all, Blockchain in itself doesn’t do much!”
Antony Lewis. Director of Research at R3 (Singapore)
Anthony Lewis has joined the R3 Blockchain Consortia. He has also launched Bits on Blocks in 2015, based in Singapore with a focus on Asia, a blog on Blockchain technology to provide clear and practical articles accessible for business people.
Lewis has admitted he is “mildly obsessed with Bitcoin,” especially after a conference he attended in Singapore.
He adds, “I have come to believe that distributed ledgers can make a difference and will impact how we do business across all industries. I now take everything I’ve learned about business, financial services, technology and Blockchains and I distill it into something (hopefully) useful for you.”
Leo Shimada, FintechAsia Top 100 Asia Fintech Leader — P2P Lending, Securities / Equity Crowdfunding
Leo Shimada is the Co-Founder and CEO of Crowdo. Crowdo is a regional fintech startup offering a portfolio of p2p lending and securities crowdfunding solutions. Crowdo is based in Singapore, Malaysia and Indonesia and has been the industries pioneer and champion in crowdfunding. Shimada and the team have created the opportunity for anyone to invest in Asia’s best SME’s.
Bo Shen, founder of the VC firm FenBuShi Capital
FenBuShi Capital has been helping fund many new and upcoming businesses in Asia. However, Shen’s popularity has made him a victim of a hack draining his REP and ETH funds, though some were later recovered. This attack demonstrated that everybody is vulnerable to hacking, which led to many discussions on how to keep assets secure. BlockShow Asia will demonstrate how to implement Blockchain properly and why it is a perfect match for Asia in retail, banking, academia and research and much more.
Bobby Lee, CEO at BTCC
BTCC is China’s first and largest exchange for Bitcoin. Additionally, Lee is an advocate for regulation of cryptocurrencies and his strong beliefs in cryptocurrencies success has led to frenzied trading in China, despite the country’s Bitcoin exchanges only semi-operating due to regulatory concerns. Lee believes the Central Banks need to embrace Bitcoin as it is traded actively in China and worldwide commenting, “It’s a new thing the central banks should pay attention to and figure out what the rules and regulations should be.”