Recap of FX Week Asia (29 Aug 2018)

PAL Network team
Sep 6, 2018 · 3 min read

PolicyPal Network CEO and founder Val Yap usually takes the stage either solo or with a panel to discuss prevalent topics in blockchain, insurtech and the like. For a change, she spearheaded one of the many discussions at FX Week Asia.

At the conference that took place on 29 August 2018 at The Westin Singapore, Val moderated the discussion of the institutionalisation of cryptocurrency trading.

Among the questions asked were on how to solve the issue of the risks like ICO scams and exchange hacks in the current market, with all the institutional money coming in?

Ville Oehman, who is the Cryptocurrency Fund Manager at Helvetic Investments, said: “There’s always a risk when it comes to any new technology. Blockchain isn’t a mature technology yet.

“There are many things that look like they will work on paper, but you’ll definitely run into problems. It is important that you view everything as a venture and ensure you read everything you need to know from it, such as its terms and conditions.”

Another question asked was: Moving forward, with security tokens launching, how will it affect cryptocurrency trading?

The panel agreed that it was the way forward as a product that is more palatable to traditional money. Security tokens form a middle ground between private funding and an ICO. When old money comes in, the tokens have no value, revenue or cashflow. Security tokens help to solve this problem.

To wrap up, Val asked each of the panellists for tips on trading cryptocurrencies.

Quentin Miller, Head of Institutional FX, Asia Pacific, LMAX Exchange: Make sure your cryptos are safe and trade the right tokens with the right person.

Ville Oehman, Cryptocurrency Fund Manager, Helvetic Investments: KYC. And by KYC, I mean know your custodian. Understand the risk of this industry. Understand the technology, the laws, regulatory boundaries. Assets can be either be managed well or disappear/frozen.

Su Zhu, CEO & CIO, Three Arrows Capital: Do your research, understand the scale and don’t blindly follow others.

Darius Sit, Managing Director, QCP Capital: There is a lot of potential for growth, so pay attention to liquidity and do your due diligence.

Val also briefly mentioned how one can protect their cryptocurrencies through P2P CryptoProtect, which was launched on 30 August 2018. This product protects a participant’s tokens if they drop 50% or more in value as a result of an exchange hack. You will be able to find out more on www.policypal.network/p2p-cryptoprotect or in this article.

About PolicyPal Network

PolicyPal Network is a decentralised insurance protocol that uses data to bridge the gap between consumers and insurance providers by providing a new level of accessibility within the insurance ecosystem. The company also works with insurers to provide CryptoProtect insurance coverage for digital assets and smart contracts. PolicyPal Network is a member of Singapore Fintech Association and ACCESS. PolicyPal Network’s affiliate entity, PolicyPal Singapore, has an active user base of 50,000 for its app, which helps users to manage, buy and optimise their insurance policies.

Currently, PolicyPal Network has partnerships with insurance companies, FWD and Ergo, to explore potential use cases of our decentralised insurance protocol together. Furthermore, we have also established collaborations with blockchain projects NEM, QTUM, Sentinel Protocol, MediBloc, Digix and traceto.io to offer CryptoProtect and mainstream insurance products for the projects themselves, along with their respective communities.

Learn more about PolicyPal Network:

Website: https://policypal.network

Whitepaper: https://www.policypal.network/whitepaper

Bluepaper: https://github.com/policypalnet/ppn-blue-paper

Telegram (English): https://t.me/policypalnetwork and https://t.me/PolicyPal_ANN

Telegram (Chinese): https://t.me/PolicyPalNetworkCN

Twitter: https://twitter.com/PolicyPalNET

Github: https://github.com/policypalnet

Reddit: https://www.reddit.com/r/PolicyPalNet/

Blog (English): https://medium.com/@policypalnet

Blog (Chinese): https://www.jianshu.com/u/04e398cadb84

Facebook: https://www.facebook.com/policypalnet

YouTube: https://www.youtube.com/channel/UCQGg21l40zG6a_vd8koFx_g

KakaoTalk: https://open.kakao.com/o/gNYy7XQ

PAL Network

A dual-layered protocol for financial assets, with a vision to build an ecosystem where individuals and partners can design and customise new financial products

PAL Network team

Written by

One of the fastest growing Singapore-based blockchain startup. We build a dual-layered protocol for financial assets and an ecosystem for product customisation.

PAL Network

A dual-layered protocol for financial assets, with a vision to build an ecosystem where individuals and partners can design and customise new financial products

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