Over the course of the month-long CINDX Roadshow, our team dove deeply into the Asian cryptocurrency industry. Thanks to the CINDX Roadshow, our project has gained the interest of the most famous members of the Asian crypto scene. Let’s take a closer look at this fascinating trip.
Over the course of the Roadshow through Asia, CINDX was presented in China, South Korea, Singapore, Japan, Thailand, and the United Arab Emirates. During this busy month, our team visited a series of leading industry events alongside top blockchain projects from all over the world.
The CINDX platform also aroused a lot of interest and received much positive feedback from blockchain experts. We see the new connections and increased interest as a natural response to the breakthrough technology that the CINDX platform is proposing to solve the existing problems in crypto asset management. Moreover, our project conforms to all of the industry’s highest standards, especially with regards to legal matters.
KEY POINTS: A SHORT REVIEW
China
China still adheres to the strict regulations of the cryptocurrency market that were put in place last year. In September 2017, Chinese authorities forbade ICOs. Then, both local and foreign cryptocurrency exchanges were banned. The result was disappointing: the world’s largest cryptocurrency exchange, Binance, moved to Malta. Many other trading platforms left the country in a similar manner.
Now, the Chinese government has begun to pay much attention to the development of blockchain technology and the blockchain industry. In China, the sharp growth of the quantity of blockchain startups is striking: in 2017, more than 100 blockchain firms appeared. Nearly half of all banks in China have adopted blockchain into their technical operations. Additionally, the State Council of China has ordered provincial and municipal bodies to accelerate the introduction of blockchain technology in several sectors.
The CINDX team spent a good deal of time in Shanghai and Beijing taking part in Borderless Blockchain Technology Summit 2018 and Slush Shanghai. The team’s main focus was to speak about the CINDX platform’s breakthrough technology. CINDX managed to make a number of connections with large Chinese fund representatives and held a series of meetings with them.
Singapore
Singapore is one of the key players in the Asian blockchain industry today. Why? According to the South China Morning Post, many Asian ICOs chose Singapore as the place to legally incorporate their businesses. The reason for this is that the policy of the government has been designed to support blockchain projects. In 2017, Singapore was rated as the third-highest country in the world in terms of funds raised through ICOs, following the US and Switzerland.
Singapore was another important stop along the CINDX Roadshow. Denis Eskenazi, the CINDX Product Marketing Director, represented CINDX at SLUSH Singapore. There, Denis met with a series of prospective investors and collaborators and confirmed a number of preliminary agreements.
CINDX team members also visited Consensus: Singapore. CINDX used the opportunity as a participant in the event to showcase the unique business model that it was offering to crypto investors from all parts of the globe. The company strengthened its brand among Asian elites while simultaneously networking with leading fintech firms in the blockchain and crypto industries.
Japan
The Japanese cryptocurrency market is the largest in the world. The Japanese government’s concerning digital currencies is rather friendly and progressive. Since April 1, 2017, virtual currencies have been recognised as a lawful payment method in Japan. In the last week of September 2017, 11 of Japan’s largest cryptocurrency exchanges were officially licensed by the government. Companies wishing to carry out ICOs and release of digital currencies in Japan must officially register themselves with the government. The Japanese government won’t forbid ICOs, but the legislative base for regulating ICOs will be drafted in the future.
While in Tokyo, the CINDX team took part in the Teamz Blockchain Summit. Denis Eskenazi represented the CINDX team there, and actively embraced new contacts.
South Korea
While Japan has positioned itself as a hub for blockchain innovation, South Korea lacks regulatory measures that would support industry growth. For example, the government of South Korea forbade ICOs in September of last year. In January of this year, regulators nearly banned cryptocurrency exchanges. Many local companies have already chosen to launch their ICOs in other countries. In May 2018, it was revealed that the financial regulator of South Korea intends to soften its stance concerning cryptocurrencies, and the government has reported that it will relax its control over the cryptocurrency sector, guided by cryptocurrency strategy laid out in the G20 summit.
One of the most significant events in South Korea relating to blockchain technology was Block Seoul, where the CINDX project’s competitive advantages were publicly presented.
Thailand
The Thai Securities and Exchange Commission (SEC) finalised details of the ICO regulation campaigns in the country. The regulator has said that the approved measures are the result of research which was conducted over the course of several months, and included consultations with various representatives of the crypto industry. A royal decree on the regulation of operations with digital assets was originally drafted in March, and was signed into law in May, having made Thailand one of the first jurisdictions to officially allow ICOs. Some analysts agree that because the South Korean government officially approved crypto exchanges with a new industrial classification, and is going to lift its ICO ban, Thailand may follow suit.
Thailand pleasantly surprised the CINDX team with the immaculately organized ASEAN Digital 5.0 Summit. Our colleagues noticed the inclusion of many interesting blockchain projects and the incredibly valuable events on the schedule. Here, CINDX won 1st place in the Pitch Competition ahead of 9 other participating projects.
The United Arab Emirates
The United Arab Emirates have headed for leadership in the blockchain industry and have decided to start “Emirates Blockchain Strategy 2021”, an initiative seeking to make it so that half of state transactions are carried out with the use of blockchain technology within several years. Additionally, state agencies have declared “norms” regarding the use of digital assets. The FSRA — the financial regulator of one of free zones in Abu Dhabi — is the first UAE state regulator to have issued laws concerning crypto-related activity in the UAE.
In the UAE, CINDX was presented at the Agora International Crypto Currencies Investment Congress in Dubai. Here, we gained some promising connections, and hope to attract them to the participation in future CINDX development.
The CINDX Asian Roadshow has undoubtedly opened a lot of new opportunities for us. We see the potential of Asian crypto market, and plan to develop new business connections to make CINDX as available as possible to the Asian community. CINDX’s work does not stop for a second — stay tuned for the latest updates!
Note: А number of new partnerships and investment negotiations with top industry players are underway. CINDX is striving to keep its followers informed about all new collaborations. We will provide detailed info as soon as the deals are secured.
About CINDX
CCINDX is an investment platform that allows individuals to combine several crypto exchange accounts into one trading terminal, and gives them the option to connect to the best managers without having to transfer their funds. Moreover, implementation of blockchain-based transactions will allow the trading history to be saved, and a rating system will be used to differentiate the successful managers from the less successful ones.
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