Blockchain Players Convene in Vietnam to Take a Fresh Look at the Future of Distributed Technologies
On March 28, Blockchain startups Defi and Ontology held a joint event in Vietnam to talk about the future potential of ‘Distributed Technology’. The event, which dwelt on the idea of information being shared across multiple systems and locations, not only attracted top media and Blockchain companies from the region, but it also saw huge participation from the local Blockchain community.
In discussing the application of technology to build secure and collaborative future systems, Defi and Ontology were joined by several other key Blockchain players. A few prominent ones were Vietnam’s local cryptocurrency exchange called BitcoinVN.Cloud, an AI enhanced encrypted digital asset exchange named BiBox, a decentralized and Blockchain based advertising forum called DAD, Ontology’s Global Capital and Hong Kong’s leading fintech group, Hashkey.
Katherine, the CEO of Defi and a panelist at the event, talked about three significant topics concerning the Blockchain space: acquisitions and investments, upcoming challenges, and industry prospects. On the acquisition and investment front, Katherine discussed the acquisition of BitTorrent by TRON. The case, according to her, signals the integration of Blockchain space with traditional internet space, and is a novel way of using token financing to acquire and expand scope — other Blockchain companies may also try the same approach in future. She, however, maintained that Defi is not going to resort to such an approach anytime soon, as the company is focusing on further developing new technologies like Trusted Computing.
For industry challenges in 2019, Katherine mentioned that in the short run, there is a significant gap between the capital needed and the grand vision by industry players to deploy new and emerging technologies. According to her, the problem is not specific only to the Blockchain industry, and many high-potential technologies in their infancy go through a period of slump (for example, the Dot-Com bubble). Capital though plays a role in advancing the industry, a period of slump provides an opportunity to build infrastructure and grow talent. Defi pursues a similar approach of contributing in developing the infrastructure for the Blockchain industry and providing great impetus in developing talent.
Finally, while discussing the industry prospects, Katherine talked about the potential of Blockchain technology to serve the next billion people. She emphasized that the approach of Defi has been based on inclusion. While bringing multiple lenders on one platform to collaborate in information sharing, and eventually become more effective in determining the borrowers’ creditworthiness, Defi’s usage of Blockchain technology is pushing financial inclusion.
The Vietnam meetup, along with discussing the trends in the Blockchain space, also signified the way diverse players in the Blockchain space are committed to future evolution of the industry. Given the emergence of a large volume of disruptive innovations, coupled with immense passion among industry players, Blockchain in future seems nothing but fascinating!
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