Stewie Zhu on DCC’s plans for the Southeast Asian market
In the interview with VITV, a leading TV network in Vietnam, Stewie Zhu, founder and CEO of DCC, commented on the blockchain industry in Southeast Asia, and explained DCC’s plans for this region.
Blockchain in Southeast Asia
The blockchain market is rapidly expanding in Southeast Asia, which I believe is going to be the next hub of innovation and international collaboration. With all sorts of blockchain applications appearing from startups in the part of the world and the strong industry that the area possesses, Southeast Asia is proving to be the go-to spot for blockchain development.
The prosperity of the blockchain industry here is mainly because of strong government support for Fintech innovators and investors, especially in countries like Singapore. Also there are a lot of blockchain technology-related enthusiasm in Thailand. For example, Thailand Post, the country’s state-owned postal service, announced it would begin using blockchain technology to track high-value parcel deliveries, for expensive and luxury.
In the financial sector, one of the country’s biggest commercial banks has recently launched a “completely paperless” Letter of Guarantee network in conjunction with IBM Blockchain.
The Philippine government believes that some 17 percent of the country has limited or no access to electricity and some believe that blockchain can provide a solution.
As for Vietnam, it’s clear that interest in blockchain technologies is growing rapidly here and Vietnam is one of the most dynamic tech hubs in the world. I believe this is just the start for Vietnam to identify and realize blockchain potentials, and it has huge opportunities to leverage its robust tech talents and tech-savvy communities to bootstrap numerous startup projects。
DCC’s Roadmap in Southeast Asia
Southeast Asia is a critical market for us and we couldn’t emphasize more to expand our footprint here.
As you know, the online consumer finance industry in Southeast Asia has been growth exponentially. Venture capital has been streaming into marketplace lending platforms based here, driven by limited regulation fostering innovation and consumer need for alternative lending products. Thus, the market here is a must for DCC’s future development.
In fact, we plan to enter the Indonesia lending market by end of this year, and enter the ending markets of Vietnam & other SEA country in the first half of 2019.
DCC’s global community has an extensive foothold in the region, with countries like Vietnam, Indonesia and India consistently ranking as the top and the most active regions.
I’m very pleased to bring our team here today to share our story and meet our community in person here. We currently have over 100 thousand users in our tele groups and over 8,000 followers on Twitter with significantly attractions from Southeast Asia. We really appreciate the support from our community, and look forward to being here more often in the future.
More on DCC
A little background of Distributed Credit Chain or DCC. As a key project invested by JRR Capital, an angel investor of Binance, DCC is the world’s first distributed banking public chain with a goal to establish a decentralized ecosystem for financial service providers around the world. By empowering credit with blockchain technology, DCC’s mission is to transform different financial scenarios and realize true inclusive finance.
A distributed bank is more of an ecosystem that connects numerous financial service providers in a true peer-to-peer platform that will enable financial transactions between lenders and borrowers, businesses and individuals, across regions and industries.
As indicated in our name, Distributed Credit, DCC will begin the journey in the credit industry. With this, we will be able to:
· Reduce the dominance and profiteering of traditional banks
· Protect user data and privacy
· Eliminate the control and ownership of private data by big banks
· Improve data validation process efficiency while reducing cost
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