Asia Blockchain Summit 2018 is an event that aims to bring together discussions on both the coming challenges and chances in the block-chain industry. Participants of the event include diverse roles from all ends of the spectrum, featuring governmental administratives, supervising institutions, technological innovators, and active voices in the surging market.
The event is originally initiated by Taiwanese legislator, Yu-Ren, Xu (許毓仁), an active advocate of block-chain industry in Taiwan, and co-founded by local new media《BlockTempo》and will be held on 7/1 and 7/2 in Taipei.
Led by Yu-Ren, Xu, one of the most active promoters of blockchain and cryptocurrency industry in Taiwan, Asia Blockchain Summit 2018 will be joined with supervisors and legislators from over ten countries. The acclaimed participants includes: experts from Japan Blockchain Association (JBA), the CEO and founder of Binance, 趙長鵬, former technical chief executor of Lightning Labs and present researcher at the Digital Currency Institution (DCI) in MIT, Thaddeus Dryja, the famous analyst from Wall Street Thomas Lee, the Chinese partner at Fenbushi Capital who is responsible for one of the earliest and most active block-chain focused venture capital firms, Remington Ong, the CEO of Kakao Blockchain, the subsidiary branch of the renowned Kakao, Jaesun Han, and the CEO of Hashed, a Korean block-chain based investing firm, Simon Seojoon Kim, along with other distinguished figures in the industry.
The summit invites lawmakers, regulators, and international participants active in the blockchain industry to gather in Taipei to discuss the future development of the block-chain technology via inter-disciplinary approaches. The summit expects to address issues concerning the current state of crypto-currency markets in various countries, the formulation of appropriate regulatory institutions, and the future directions and possibilities of the industry as a whole.
Regarding the development of blockchain technology in Eastern-Asia, Taiwan features not only its superior geographic location and its resourceful technical talents, but also perhaps more importantly, its relatively cautious attitude toward crypto-currencies compared to nearby nations like South Korea and China. The government of Taiwan has adopted an open and friendly attitude toward the new wave of cryptocurrencies and blockchains, and looks forward to the establishment of a more adoptable set of standard in terms of experimental and implemental use within the block-chain technology. Combined with the advantages mentioned above, Asia Blockchain Summit 2018 seeks to highlight Taiwan as a highly potential spot in the course of future developments in the blockchain industry.
The Duty and Transformation of BlockChain Technology
Annotated as the “trust in machines,” blockchain technology first established its distinguishing features in The Economist on 10/31, 2015. Its features include the emphasis on safety, transparency, and its irrevocable nature. These features in block-chain technology are expected to change the structures of a digitalizing society in drastic fashion and therefore enables block-chain to boast itself as an essential field of technology in our near future.
Ever since 1973 when the revolutionizing wave of Internet started to take place, hardware and related technologies has taken so large a leap that daily communication of both information and data has become rapidly speeded. This in result has changed the Anthropocene socially, economically, and politically.
However, the more the Internet expands the more it seems to be crowded with unverifiable data and overwhelming scales of information. These problems attracted growing attention from around the world to tackle with pressing issues of safety and transparency in the cyberspace.
Nowadays with societies struggling against depositing trust in governments or other social systems, a system of information that deserved to be trusted in its nature is in pressing need. The initial appearance of block-chain in some way bypassed the need for attracting trust by way of incorporating every scrap of information into a transparent web constituted by numerous “blocks.” This revolutionary redistribution of information altered the way people interact and exchange on the essential level.
Block-chain technology is not only applicable to the private sector to improve existing business models, but is also helpful in the public domains since it enables the government to communicate in new mechanisms. By dismissing the need for attracting “trusts,” blockchain hinges on the concept of a “trustless” level through which the colors of nationalistic “state machines” gradually slip towards a spectrum supported by the trust in machinery.
Taiwan Requires Moderate Surveillance if Anticipated to Grow
The development of blockchain technology needs to be well-paced: although its potentials already attracted global attention, its congruity with administrative sectors is yet to be practiced.
In the face of a rapidly changing technology, the role of the government is no longer a regulatory figure that imposes rules from above; rather, the government should retain its elasticity and transform along with the new trend. In order to turn the technological shock into future possibilities, the government should always keep in mind the whole picture of how the block-chain industry develop in time.
Such transformation cannot take place if there is no friendly ground in communication. Moreover, if the government simply takes over the blockchain industry without either understanding its structural logic or leaving it with certain autonomy, there will never be new opportunities nor improvements on international competition.
To this end, governments need to incorporate the insights proposed by existing participants in the industry with their regulatory schemas. Consensus in blockchain development, block-chain innovations, and even cryptocurrencies or ICOs are essential if we seek to implement this new technology in our future.
With the rapid advance of blockchain technology and the pressing expansion of the cryptocurrency market, the central duty of both governmental sectors and the blockchain industry as a whole should be the balance between moderate surveillance and encouraging environment for further innovations.
Multi-directional Cooperation to Re-establish Trust
In the heyday of “efficiency,” blockchain technology also emphasizes on fairness and transparency. The revolutionary potential embedded in the block-chain technology will make it the infrastructure that marks a new generation in cyberspace. The so called Internet 2.0 will re-establish the general trust in societies by way of block-chain technology.
We have learned from the internet revolution that the discovery of a new technology is always tough, rough, and inevitably slow. Built on the high expectancy on both blockchain technology and the crypto market, a new mode of economic behavior has attracted easy and quick money in a short period of time. This inflation overshadows the grand duty originally undertaken by the blockchain technology by a gauze of distrust and over-investment.
As mentioned above, this situation needs to be tended with supports from all sides of the society, including technical innovation, economical application, investments from the financial market, and needless to say the friendly participation of the government. If these sources work under one end, it will not only speedup the development of a trusted system for exchanging information but also stable its pace as it delves into the rends of the future.
Industries related to the block-chain technology, including innovative blockchain services and investments, are no longer confined to the boundaries of certain nations or counties. In fact, the industry grows in the scale of a regional-based ecosystem that seeks multi-directional cooperation to face the upcoming challenges and to embrace the change brought forward by a cutting-edge technology.
About Asia Blockchain Alliance
The Asia Blockchain Alliance (ABA) is a NGO functioning on an international level that dedicates itself to responsibly ensure the healthy growth of the block-chain industry as a whole. The aim of this alliance will be to guide and help merge the block-chain technology with existing industries.
The ABA conducts communication that directly involves policy makers, regulators, innovative designers, and market participants, to lead the public into recognizing and discussing the potentials of the block-chain technology.
From Taiwan to Asia, ABA aims to maximize the social and economic impact of block-chain and minimize its possible negative effects; the promotion of a sustainable development of the block-chain technology/industry is inscribed on the very existence of the ABA.
Further Information on the ABS：
Official Telegram Chinese group
