BlockShow Asia 2018 Concludes: Summary

 
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BlockShow Asia 2018, the flagship event for the blockchain industry, took place in Singapore at the beginning of the month. It brought together more than 2,800 blockchain enthusiasts from around 50 countries. Even before the event started, it had attracted public attention with the announcement that it is now the world’s first blockchain conference selling tickets via ethereum-based smart contracts.

The venue was the Marina Bay Sands convention center, which is located in the center of Singapore’s business district. We provide you with a brief summary of the key messages delivered at the BlockShow conference.

The discussion during the first day centered around the interaction between blockchain and artificial intelligence (AI), the impact of the Chinese crypto ban on the Asian crypto economy, the millennials’’ stance on cryptocurrencies, and how blockchain technology was transforming the gaming sector. The discussion on the second day continues, and it’s all about the role of government in blockchain, crypto trading, and adoption of blockchain technology by businesses.

Picture 1. The list of main speakers at the BlockShow Asia 2018 (Source: BlockShow.com)

Blockshow started with the “Blockchain2Energy Asia” event to host a specialized programme focused on the push to create the digital grid. The discussion was centered around the new model for worldwide energy distribution,  and payment to replace the current outdated models.

One part of the conference also focused on the future of artificial intelligence i.e. how we can make AI a good thing for society. Although not part of the panel, the conference was attended by representatives of the CEN startup, which is focused on improving the AI concept by using the blockchain technology. Apparently, the startup has made various groundbreaking accomplishments in the field of AI technology. They are currently in the process of crowdfunding before they go live in the spring of 2019.

Thomas Lee, the co-founder, and managing partner at Fundstrat Global Advisors, and of the most prominent crypto investors, was one of the star speakers at the event. Prior to co-founding Fundstrat, he served as J.P. Morgan’s Chief Equity Strategist from 2007 to 2014.

Lee was one of the panelists in the “Next Miracle: Can Blockchain Bring The ‘Asian Tigers’ Back?” section. As a renowned crypto bull, he refused to change his bullish outlook on cryptocurrency market, according to Cointelegraph.

“(We) have a price correction taking place, which has caused the price to fall even below its 200-day (popular technical indicator used by investors to analyze price trends), but if you’ve got time, it will arise. It will not happen within three months, or one year, but in two to three years, and this is the golden time to be in crypto. As soon as Bitcoin crosses its 200-day, we know there will be a flood of money coming”, said Lee.

His speech also mentioned stats such as the number of Visa and MasterCard accounts, 4.6 billion, compared to “only” 50 million active wallets. Thus, BTC may be worth $10 million per coin in 10 years.

He mentioned three major factors behind the current market slump: Bitcoin Cash’s (BCH) hard fork, the U.S. Securities and Exchange Commission (SEC) forcing certain Initial Coin Offerings (ICO) to return funds to investors, and the “terrible” condition of global markets.

Bobby Lee, the co-founder of Chinese crypto exchange BTCC and a board member at the Bitcoin Foundation, pointed out that Governments will do more and more to suppress Bitcoin worldwide. He also added that “there will be a war on our freedom of money.”

He stays positive about the future outlook of the industry as “digital assets are the future. Mathematics equals trust.” Entertaining as always, Lee compared fiat money to the system from the famous Matrix movie.

“Especially in this bear market I urge you, if you are a true believer, if you truly understand the essence of Bitcoin, the impact of Bitcoin, about the new form of ownership, about the control we’re taking back, about the freedom of money, you should hold or ‘hodl’ Bitcoin,” added Lee as a panelist in the “Battle Time: Blockchain Stagnation Isn’t Coming Anytime Soon…Or Is It?” section.

During the panel discussion, he clashed with Naeem Aslam, a former trader at the Bank of New York, over the applicability of the blockchain technology outside of the Bitcoin world. Unlike Lee, who seems not so enthusiastic about this topic, Aslam was speaking about multiple examples of blockchain technology being used outside of the bitcoin world and hence becoming more powerful.

In the other parts of the conference, representatives of Taiwan’s Government showcased their model, which has the goal of playing a support role to crypto and blockchain industry. Both Taiwan and India are making great strides in order to incorporate the application of Bitcoin in the daily life of their populations.

In the final stages of the event, representatives of Singapore University of Social Sciences (SUSS) and Singapore Academy of Law presented crypto regulation and examined the steps needed for blockchain technology to undertake to create a bigger breakthrough.

Header photo from https://blockshow.com