MASEx collaborates at the I5 Global Networks SWEPT Conference in Seoul
Held in Seoul on December 23, 2019, the I5 is a collaboration among 5 powerhouses in the traditional and new economy business arenas — GUANGCAI Group, Huobi Indonesia, UDAX, Block Global and Doobitnaraesoft. The collaboration combines the stability and ground experience of the traditional businesses with the forward-looking ideas and high-technology expertise of the new economy businesses.
Aaron Tsai (蔡逸群), Founder and Chief Capitalist of MASEx (名交所) and MAS Capital (名资), and the MASEx team were present at the conference, where Aaron delivered a keynote speech discussing the STO market environment and regulations. He also introduced MASEx to the audience, and the team presented to the I5 members how MASEx can collaborate in the SWEPT payment system.
SWEPT is a blockchain-based global cross-exchange payment and transfer platform where users can make payments with their crypto assets in exchanges anytime and anywhere in the world. It also enables users to make cross-exchange transfers cost-effectively in real-time. SWEPT aims to solve not only existing cryptocurrency problems but also issues with existing banking and financial systems such as high fees.
The event tackled how the financial markets around the world are being challenged by fintech technology. Previously, SWIFT (International Banking Communication Association) was responsible for overseas remittances between banks. With the development of blockchain technology, starting from Ripple’s xVia platform, which has challenged the traditional SWIFT network, platform competition to solve the problems of the existing financial system has been aggressive. Competition breeds innovation, therefore conferences like this one in Seoul are a tremendous opportunity for talented minds to converge and brainstorm new business ideas.
The US dollar and financial system are under heavy fire by the rapid adoption of cryptocurrencies, as Aaron Tsai first emphasized on his keynote speech at the Security Token Summit on April 8, 2019. “This is a seismic shift that extends across the entire financial industry. It has disrupted the existing oligopoly of financial institutions in banking, securities and fund management sectors. This disruptive trend will accelerate, as a new era in financial services emerges with technology-led, self-regulated STOs and other innovative financial services,” he shared again during his speech in Seoul.
At this conference, Aaron saw the innovative SWEPT platform, which plays a role similar to the traditional SWIFT/Credit Card process, where bank A and bank B settle a credit card payment through the old and slow SWIFT system. Today in the crypto world, settlements can be done in real-time through SWEPT, which connects global exchanges and merchants and facilitates cross-exchanges transfers and payments to merchants.
At the after party, Aaron told Dae Yong Park and Gemma Kim from Doobitnaraesoft about how MAS Capital can help SWEPT in the future for their STO, as well as for listing and trading on MASEx. Gemma explained to Aaron the functions and advantages of the SWEPT payment system.
Aaron and Alex Wan from Huobi Indonesia chatted about how Huobi Indonesia became one of the most successful and active crypto exchanges in South East Asia.
“The traditional cryptocurrency market hit the peak back in December 2017, when Bitcoin reached USD $20,000. The major reason for this dramatic price surge was the role of Chinese investors and speculators. Another was a need for Chinese investors to circumvent central government currency outflow restrictions to invest abroad,” Aaron said.
During this trip to Seoul and earlier trips to Tokyo, Aaron saw and heard about the rapid growth of the cryptocurrency trading market, not only in North-East Asia like South Korea and Japan but also throughout many countries in South East Asia, such as Thailand, Vietnam, and Indonesia.
Learn more about MASEx
Founded by Aaron Tsai, MAS Capital Universal Exchange (MASEx) is a global STO exchange. We aim to become the leading security token exchange by, using AI and blockchain technology to form a decentralized exchange to trade securities, commodities, FOREX and digital assets on a single or a universal trading platform.
- Website: https://masex.io