On the 12th – 13th Nov 2019 CoinMarketCap or CMC (https://coinmarketcap.com/) organized their first ever conference at the prestigious Victoria Theatre, Singapore. CoinMarketCap is the place where over 100M people around the world gather to discover crypto assets and it is a leading Index for Blockchain Projects.
There are more than 50 speakers on stage which consist of Industry Leaders. Some very prominent includes :
Brandon Chez – founder of CoinMarketCap. In 2018, CMC was ranked in the Top 100 most-visited website by Alexa, and continues to rank above websites like the Wall Street Journal and CNBC. Today it is rank at 252 in the world. (For a six-year old company this is HUGE achievement).
Sunny King – a legendary blockchain developer, is the inventor of Proof-of-Stake consensus mechanism.
Changpeng Zhao – known as CZ launched Binance in July 2017 and within 180 days, Binance grew into the largest cryptocurrency exchange in the world in terms of LIQUIDITY. He is the fastest billionaire entrepreneur where in 6 months after launching Binance he became billionaire, something never achievable during pre-blockchain era.
Jennifer Ilkiw – VP APAC Bakkt/ICE. Intercontinental Exchange or ICE operates the leading network of regulated exchanges and clearing houses for NYSE, and is a provider of global data and listing services. (In lay man terms Bakkt opens the door for existing FUND MANAGER into the world of crypto asset. She hides all the technical complexity for them)
Matthew Tan – is the founder and CEO of the leading Ethereum block explorer, i.e. Etherscan.io.
60% of the speaker comes from :
- Top 10 Exchanger with more than USD 1 Billion daily Trade Volume (such as Founder of Huobi, Bitthumb, KuCoin, ZB.com, Blockstream
- CEO and Founder of new EMERGING exchangers
- Leaders from Financial background such as Baktt, Bloomberg and Pantera Capital
In summary All the speakers are REAL MARKET MOVERS.
FACT FINDING NEWS AND STATISTIC
Straight form the horses mouth here are some NEWS AND STATISTIC :
CoinMarketCap website has launch the following new features during the conference :
- Education Center – Where you can learn about crypto and blockchain
- Job & Career Center – Yes you can find job vacancy here plus building a career with CMC
- Shop Center – You can purchase exclusive CoinMarketCap apparel
- Blog Center – where you can read latest news on crypto
2009 – 2016 is the period to showcase blockchain technology to the world. As the first ever blockchain, (i.e. BITCOIN BLOCKCHAIN) it has prove to the world that it is safe, secure, transparent and very stable with NO SINGLE DOWNTIME (even for 1 second) for 10 years now.
2017 is the year of Crypto speculators, many FOMO simply enter the market without fundamental knowledge
2018 is the year of Crypto Cleansing where only genuine players remain
2019 is the year of Stable Coin. Two major happenings are :
- “Corporate issuing Money“ , a centralized Blockchain to be control by FB Libra, will be pegged to 5 major fiat currency,
- “Government issuing Money ” a centralized Blockchain to be control by Central Bank of China, will be pegged to RMB.
“Public De-centralized issuing Money “ , a ‘Blockchain by the people for the people’ like Bitcoin, Ethereum, Dash, Monero, Lisk, ….
So in the end we will have PRIVATE ISSUING MONEY vs GOVT ISSUING MONEY vs PUBLIC ISSUING MONEY. All will survive as all has it own community & strenght.
[ Note : US Senate hearing on Project Libra is still going-on. Now they realized that Bitcoin is really something when they cannot summon CEO of Bitcoin, Mr Sathoshi as how they can summon CEO of Facebook. How they wish they can do that since they are so use to dictate others… ]
Regardless of the outcome from Libra and CDEP , it shows the following :
- That Blockchain Technology is started to be embraced when two giant economy is in the process of implementing it.
- Blockchain & Crypto will be mainstream after 2020
- Total Global Asset value today is about 60 trillion (comprise of Gold, Bonds, Stock & Securities, ..) and they are UN-BLOCKCHAIN. Crypto Asset today is about 250 Billion which is less than 1% of Global Asset.
- Global Asset will be Blockchained since when they are Blockchained, every asset will be transparent and permanently identifiable on their WHO, HOW , WHEN.
- China embracing Blockchain Technology and this in-turn open the gate to other non-financial industry. A lot of people still doesn’t even know that blockchain is a technology, thus it can be used to ALL industry (i.e. not just for crypto currency). The announcement by China somehow will trigger this notion. This also answer the question on why Bitcoin is so expensive today, it is NOT because of its ‘coin’ per say, but because of its underlying ‘blockchain technology’.
- A DE-CENTRALIZED Blockchain is being used by a centralized Exchanger. In other words an ‘un-regulated’ product is used by a regulated product. This will remain and this is a genuine model of Blockchain Based Business Platform.
80% FUND MANAGER either will enter crypto by 2020 or showing strong interest to enter crypto market. The only hurdle and resistance is describe below :
RESISTANCE TO MASS MARKET
Although IT Savvy community understand the greatness of Blockchain Technology, however some factors are hindering it from becoming mainstream and unable to reach the masses. The factors are :
- Lack of education. Very few in the government and regulatory body understand it in detail, thus slow progress and acceptance
- The crypto and blockchain is largely unregulated – causing Financial institution not keen to enter as long as it remain unregulated. The good news is more and more government is in the process of regulating it although it is done in a slow pace.
- The advance of technology is faster than any regulator, This cause a friction Gap.
- Resistance from existing player – a natural reaction to human when their domain is being encroach. It is true that Blockchain is disruptive Technology and Banking will be the first casualty if they don’t adapt. So happen Banking has been the most influential to any government.
Having said the above the panel agrees that Libra and China CDEP will trigger mass market movement because suddenly more people become aware of the announcement and eventually they will find-out about the underlying technology which is blockchain. Imagine Libra with ready community of 2.5 billion if materialized will wipe out many banks and will reach the unbanked so massively, even to the point China quickly rival with their own digital payment initiative ..
The question remain is what will happen to Bitcoin IF libra takes off ? That will be an interesting debate of the future.
We live in a world where “people are afraid of the government” when BY RIGHT it should be the other way around. However Blockchain Technology can change that.
The world now is in a cross-road when there exist two major camps. First camp consist of group and individual with IT savvy, futuristic thinking, visionaries and trying to get away from the current repressive financial system. The second camp consist of those with vast interest from existing financial system who are trying to grip to their current conventional position which is being challenged by new disruptive technology of BLOCKCHAIN.
In all era of human history when new invention coming into a society those with existing power would feel uncomfortable with new innovation that might challenge their interest. But history also show us that the rise of such powerful new technology that will eventual benefit human kind will PREVAIL, of course after many tribunal and turbulence. This is what happening now and this is how I perceive things. Lets enjoy the show and prepare for any eventuality.
This section is my personal opinion on WHY I think Distributed Energy Coin or DEC has all the criteria to be a successful project :
- The project is about renewable energy industry backed by China Government, hence very unlikely to fail but very likely to success.
- The project is a complete over-haul of Enterprise Resource Planning Model (ERP) , Supply Chain management and End-to-End eco-system in which all process and operation is being blockchain using both ON-CHAIN and SIDE-CHAIN technology.
- The potential market penetration is huge considering China population, at worse DEC will remain at current price.
- The business conform to item 6f above. i.e. a DE-CENTRALIZED Blockchain is being used by a centralized Exchanger. In other words an ‘un-regulated’ product is used by a regulated product. We are integrating the best of both world of de-centralized and security (via IEO)
- DEC is world first Energy Coin. Just like Bitcoin, it will become a precedence. On top of that it originates from the leader of renewable energy nation of China.
- The future of Blockchain and crypto is certainly bright. My observation during the conference confirm this. Logically speaking can you make a loss if you invest in future technology ?
Having said the above, take note that DEC is for medium to long term investors. Those looking for shot term ROI of less than 6 months is not suitable.