Make Blockchain Great Again at Block Live Asia, Singapore
Block Live Asia is the world’s first part conference, part experiential blockchain festival. It was held successfully on April 18 and 19 at Marina Bay Sands in Singapore.
This is a one-of-a-kind event that not only addresses pressing issues in the blockchain and crypto industry today but also bridges our daily lives with this promising technology. The main audience for this event are the millennials, mild enthusiasts and geeks alike, to explore the industry with the more experienced entrepreneurs and their teams.
The speakers of Block Live Asia include:
✦ Roger Ver (CEO, Bitcoin.com)
✦ Felix Mago (CEO, DASH Thailand)
✦ Jeremy Khoo (CEO, iFashion Group)
✦ Kiana Shek (Co-founder, DigiFinex)
✦ Garrett Jin (Co-founder, BitForex)
✦ Paul W. Kittiwongsunthorn (Co-founder, TenX)
✦ Shaun Djie (COO, DigiX and Founder, Ethereum Singapore Meetup)
✦ Chia Hock Lai (Vice President, Singapore Fintech Association)
✦ Jagdish Pandya (Chairman, BlockON Group)
✦ Ankit Bhatia (CEO, Sapien Network)
DigiFinex team are thrilled to take part in this event, not only connecting with our partners, project teams but also the wider audience who are relatively new to the blockchain and cryptocurrency scene. It’s a great time to learn, discuss and explore.
One of the highlights for us at Block Live Asia, is the MOU Signing Ceremony between BLUCON and DigiFinex. As some of you might have already known from our previous post, we have reached a strategic partnership to promote the adoption of cryptocurrency payment!
There are many use cases for BLUCON Card, including payment for taking buses, subway, taxis, Korea Train Express, highway and other public transport systems, convenience stores, supermarkets and other consumer needs, as well as fees for medical care and education.
This will bring great convenience to DigiFinex users too.
Panel: Will IEO Replace ICO?
At this panel moderated by Jeremy Khoo (iFashion Group), we joined Joshua Ho (QCP Capitcal), Marcus Lim (Zipmex) and Guojie Liu (Bibox) to discuss some of the trending topics about IEO (Initial Exchange Offering.)
How does IEO prevent price manipulation?
Since the exchange is responsible to conduct the IEO on its own platform, which means the investor must be a registered user of this exchange, who has completed a standard KYC procedure, and this procedure, to a certain extend, prevents fraudsters from creating multiple accounts to over-buying because that used to be very common during the early ICOs. At the same time, each buyer has an individual cap of the maximum amount of tokens he can purchase, this greatly reduces the chance of “whales” from over-buying and subsequently manipulating the token price.
How does IEO provide increased security for investors? What about hacks?
In terms of cyber security, top exchanges are the leaders in the blockchain industry because we need to stay ahead of the game, as we are handling billions of crypto transactions every day. IEO provides increase security for investors because it is conducted on the exchange platform, this prevents phishing sites or other online fraud that lead investors to transfer their token assets to scammer’s wallet addresses.
How sound is IEO as a business model compared to other fundraising mechanisms?
In the emerging cryptocurrency market, the exchanges choose to launch IEO after weighing the risks and possible benefits.
Advantages of the IEO model:
➤ For investors: The exchange is taking the responsibility to select the IEO projects, conduct the token sale and will list their tokens after the IEO.
➤ For the project teams: During a bear market, it is more difficult for good projects to raise funds. IEO is another option for fundraising.
➤ For the crypto industry: It could reignite the confidence in crypto investors as the blockchain industry grows, these initiatives might be successful short-term and it is a valuable experience to all of us.
Where will IEO be at the end of 2019? Will it become as saturated as ICOs and will we be moving on to yet another mechanism?
IEO is a vote of confidence from major crypto exchanges because they’re responsible to select blockchain projects with a solid business model and feasible use case. This confidence is supported by the current crypto investors and speculators. However, IEOs won’t be as saturated as ICOs because firstly, really good projects are rare, with many of them shifting the fundraising effort to equity fund rather than issuing a token without utility value, and secondly, after the 2017 ICO craze, many retail investors left because they got burned when the market crashed. Therefore the crypto crowdfunding pool has become much smaller. IEO is likely to continue throughout 2019 on a smaller scale, but more structured and standardized as the industry matures.
Currently, there are high quality projects on IEO, will this number diminish as time passes and will IEO become as controversial as ICOs?
There won’t be as many IEOs compared to ICOs because, firstly, really good blockchain projects are rare and the exchange would be very strategic in selecting them; Secondly, many good blockchain projects with actual use cases or existing customers would seek equity investors instead of conducting a public token sale in the current market. However, the tokens issued by the good projects would still be in high demand on the secondary market, and exchanges will list them because they have liquidity.
After showing a short introduction video of DigiFinex, Kiana briefly shared some of her insights about the current crypto market, as well as expressing her optimism in the future development of blockchain industry.
Besides a unique DFT point-based token listing program “Innovation Board”, DigiFinex will also launch an IEO platform soon, so please stay tuned for our updates because we are presenting you the true gems in the blockchain industry!
Below is the link to Kiana’s keynote presentation slides:
♡ We would like to thank Block Live Asia team, including Jiawen, Joey, Tash, Georgie and many others, who were involved in putting together this awesome event. We had so much fun from the beginning till the end. What a wonderful experience!