Digital Week Online, an online virtual conference spanning across the past week featured an extensive list of not only leaders and advocates in the tech industry but also government legislators showcased 48 consecutive hours of insightful discussions into pressing issues in the changing digital sphere due to the coronavirus pandemic.
Notable speakers included crypto advocate and entrepreneur Tone Vays who also spoke at Crypto Asia Summit the week before, while others such as Wu Kai, Vice Chairman at Shenzhen Baoan District General Chamber of Commerce and Mohd Shahnawaz President at Government Blockchain Association UAE provided region-specific perspectives into the state of blockchain and tech development in their countries.
Ivan Ivanov, founder of Hong Kong-based venture studio Uvecon VC and also co-organizer of Digital Week Online, hosted a panel discussion on the effects of blockchain on capital markets. The state of blockchain developments across the globe are evolving at an unprecedented pace, with blockchain-based ecosystems becoming more robust, dynamic and inclusive. The technology is being deployed across a myriad of industries, even ones that might not seem compatible with blockchain integration at first glance. The finance sector was one of the first to recognize and utilize blockchain to improve on paper-driven processes and the efficiency of cross-border transactions, but the need for the injection of new technologies into other industries such as entertainment, logistics, legal, government, food and agriculture and more are apparent, now more than ever.
Tokenization, especially in the real estate sector, was highlighted by Jorge Sebastiao CTO at Confidential and Gonzalo Sanchez Slik, Head of BD and IR at Brickblock.io. Real estate investments, alongside gold, oil, equities and other cash-flowing assets, have remained the go-to investment option for investors when building wealth in a stable and sustainable manner over the past decade and have consistently generated high returns with the exception of this year as the world’s economy was sent plunging into crisis. It is also an industry that has been relatively untouched by technological advances, which makes it ripe for a blockchain revolution, where traditionally illiquid real estate assets can be tokenized and fractionalized. This means lower costs for real investors and easier access to real estate investments in an industry that is known for its high barriers to entry.
Well-known crypto media personality Tone Vays addressed the ever-present concerns over crypto or financial market trading manipulation. It all boils down to the definition of manipulation. When whales in the market make a large transaction, it is inevitable that prices will be significantly affected by the actions of this single trader. However, this cannot be defined as manipulation, as long as the trader is “playing by the same rules” as other traders, it is the prerogative of the trader with higher capital to “move the price of the underlying asset as much as they like”. Comparing traders in the market to poker players at the table, he contends that the player with more chips has “earned the position to push other players around”. On the other side of manipulation, inflated trading volume numbers on exchanges is an issue that continues to plague the crypto community.
The conference touched on some unconventional topics, such as the impacts of gender diversity in the tech industry and the growth of Femtech as a sector. Blockchain gaming, esports and entertainment are up-and-coming trends to look out for in 2020 as more projects from these three sectors are expected to emerge this year.
You may also want to read: Digital Week Online: How is Blockchain Being Leveraged in Various Industries?