Asia DAX Week hosted last week by Asia Blockchain Centre (ABC) recognized as the biggest virtual event in Asia for people to understand Digital assets, Market exchange, and also how to identify scam
Our live stream session started with Colbert Low BitcoinMalaysia.com Founder, Leslie Chan DeFi Singapore Founder, Dunstan Teo Fido Protocol Chief Architect. Digital currencies, such as Bitcoin and its underlying blockchain protocol, introduce a technical platform for a new global payment infrastructure that has the potential to level the playing field for the 2.5 billion people across the globe who are unbanked or underbanked. Furthermore, thanks to the proliferation of mobile devices, blockchain-based digital currencies can even remove the middleman, and serve as a bank in your pocket. However, fully removing a third party intermediary comes with significant risks, as there’s no one to call if you lose your private key (which functions as your password), break your hardware wallet (which acts as your digital vault), or want to dispute a payment because the goods you purchased are damaged (because digital currency transactions are irreversible). Like any other product, consumer protection must be at the forefront of the development and implementation of digital currency and blockchain-based financial services. Over the last few years, policy makers and federal regulators have been advising the blockchain community to develop a set of best practices to address such consumer protection concerns. Several have even cautioned that government solutions may prove to be over-burdensome if the industry fails to demonstrate that it takes consumer protection seriously. Consumers’ Research, along with the help and expertise of its workshop participants, produced the first industry-led, self-regulatory consumer protection effort in the digital currency space.
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Blocklime Technology SDN BHD is a distributed ledger (DLT) service company based out of Petaling Jaya, Malaysia. Blocklime provides blockchain development, technical consultation, and developers training services. To find out about us please visit: https://www.blocklime.com/
Missed out the live broadcast? Check out the full video here: https://web.facebook.com/Asiablockchaincentre/videos/357571162098186/
