Credit: tysler
A big thank you to Blockshow Asia 2018 for inviting me to the event as a media partner! It was a great learning and networking opportunity for the Asian community, and I do hope that Blockshow Asia 2019 will once again be held in Singapore. Singapore is an international financial hub for many businesses, where English is the first language.
Day 2 for Blockshow Asia 2018 centered its talks on maturing the blockchain industry. From Cryptocurrencies to ICOs, Stablecoins to STOs, the industry is moving forward at an astronomical pace. The evolution of the technology to suit the needs of the society is becoming clearer.
Experts from the legal bodies in Taiwan, US, Malaysia, Vietnam and Philippines took the stage to inform us what actions their respective countries have implemented in the past two years. Through the panelists, it is clear that early stage integration of blockchain technology into existing infrastructures is being carried out.
In the later part of the event, the discussion of the future of Stablecoins received differing views from the experts. The key issue about stablecoins is: "What assets are they pegged to?"
Fiat pegged, gold backed or cryptocurrency backed stablecoins? Alex Freidberg, Co-Founder & COO at Block by Block Capital (BXB), prefers fiat pegged coins even though he questions what is truly stable as there are fluctuations in every underlying asset.
Anson Zeall, Chairman at ACCESS & Co-founder at Coinpip, believes that stablecoin is the manifestation of the refusal for banks to accept cryptocurrencies. It is unclear how long banks would stay as custodians to stablecoins.
Blockchain as a new form of the Distributed Ledger Technology (DLT) is already disrupting traditional forms of shared trust ledgers. We should look further into detail whether traditional financial institutions could evolve with the blockchain technology or rendered obsolete in the future. This could lead to solutions with lowered costs and greater efficiency.
For now, enjoy the weekend!
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