Asia Blockchain Review presents Malaysia Landscape Report

October 18, 2018

On September 20th, Asia Blockchain Review launched our first meetup in Malaysia titled “ABR Presents Malaysia Blockchain Landscape Report”, at The Co, a coworking and event space in the heart of Kuala Lumpur. The event attracted many blockchain enthusiasts who were interested in understanding the current progress and update of the blockchain landscape in Malaysia. The presentations were led by prominent leaders in the local community, including University Malaya, the Faculty of Law, JusTECH, Neuroware, BESC and Blocklime. ABR covered blockchain adoption through diverse angles such as RegTech research, public relations and practical use cases.

Mr. Cris D. Tran, Head of Infinity Blockchain Ventures (IBV) Malaysia, sharing about Malaysia blockchain landscape

Kicking off the night, Mr. Cris D. Tran, Head of Infinity Blockchain Ventures (IBV) Malaysia, brought to the audience a helicopter view of the blockchain ecosystem in the country. He shared that in Malaysia the financial infrastructure is ready for innovative technologies which is a positive sign for blockchain to thrive in this country. Although Malaysia is in the early stage of adoption there are key milestones regarding blockchain development including the issuance of AML/CFT Policies by Bank Negara Malaysia and the establishment of the largest Blockchain Centre in Asia by NEM. Sectors ripe for blockchain adoption include banking & finance, supply chain, government, and education while pilot projects will be rolled out by both private sectors and government agencies with cross-countries R&D initiatives.

Ms. Nur Husna Zakaria, Lecturer & Researcher, University of Malaya (Faculty of Law), sharing about the RegTech Cube project

Moving to the second speaker, Ms. Nur Husna Zakaria, Lecturer & Researcher, University of Malaya (Faculty of Law), shared about the RegTech Cube – the industry-academia collaboration among IBV, QRC Group and University Malaya (UM) on RegTech research. The organizational structure of this RegTech Cube will comprise three functions: overseed by a designated council of overseers, planning by the advisory board and the student management committee in charge of implementation. As such, the proposed activities of RegTech Cube comprise of distributing outreach programs and blockchain multidisciplinary courses, issuing bimonthly newsletter as well as opening consultation services for Blockchain-related issues. With the formulation of RegTech Cube, the principal objective is to create awareness and gather expertise to bring about more innovative products and solutions.

Ms. Yeap Yee Lin & Mr. Danesh Aggarwal, Co-Founders of JusTECH, introducing about the formation of Malaysia’s first student-run law-tech club

The third session was also hosted by University of Malaya as Ms. Yeap Yee Lin and Mr. Danesh Aggarwal – students from Faculty of Law, presented about the formation of Malaysia’s first student-run law-tech club named JusTECH, of which they are co-founders. The emergence of innovative technologies including AI, Internet of Things, etc. and the forward-thinking deployment of technology in the legal industry such as RegTech or smart contracts have led to the establishment of JusTECH. Altogether, Yee Lin and Danesh navigate JusTECH with mutual goals such as increasing literacy on science and tech concepts as well as facilitating the dialogue on law-tech issues among students by organizing talks and forum, techies cafe, code camp and publishing articles, newsletter and videos.

Mr. Mark Smalley, Co-Founder & CEO of Neuroware, hosting “Blockchain Boleh” session

Mr. Mark Smalley, Co-Founder & CEO of Neuroware, was the next speaker who hosted a session namely “Blockchain Boleh” focusing on disrupting FinTech with blockchains and sharing about The Blockchain Embassy of Asia. According to the representative of Neuroware, currently, common problems that FinTech data silos are facing involve three key incumbents: regulators, operators and trustees. As proof, real time insight or monitoring capabilities on regulated market operators (ECF) and their deals are not structured yet while sensitive data is handled through multiple parties with different standards and practices. That being said, the true bottleneck preventing growth at secondary markets is due to the utilization of insecure and inefficient methods of trustees. As such, blockchain, especially smart contracts, will be the optimal solution to these issues since it enables real time analytics, automated reporting, single distributed tamper-proof database and reduction of  friction, costs and delays in settlement. Regarding the Blockchain Embassy Asia, the consortium will focus on researching blockchain application in areas including Identity, Certification, Governance, and Smart Contracts.

Also in the exclusive interview with ABR, he has shared more information about Neuroware flagship product – Cortex. He expressed that rather than building their own blockchains as other competitors do, Neuroware chose to create a platform unifying the best blockchains for the best use cases. Also, he emphasized that currently, Neuroware has conducted various training and workshops to educate about blockchain and clarify some common misunderstandings.

Mr. Tan Lim Soon Fu, CTO of EPC Blockchain Sdn Bhd, sharing about “Monetisation of Energy Data with Blockchain”

In the next discussion, Mr. Tan Lim Soon Fu, CTO of EPC Blockchain Sdn Bhd, shared about “Monetisation of Energy Data with Blockchain”, where he presented on blockchain applications towards energy savings. Specifically, BESC platform is designed as a ledger for the energy generation, energy use, energy reduction and reduction of CO2 emission for electrical equipments. It also serves as a platform for energy projects such as EE/RE projects fundraising. Also, via BESC platform, you can track energy performance with energy savings/generation data, track carbon and monetize on the carbon credits, and invest through crowdfunding with high ROI in crypto tokens.

Mr. Tan Lim Soon Fu also stated in the exclusive interview with ABR that since blockchain can record energy data in a transparent, verifiable and tamper-free fashion, the savings can be achieved and distributed efficiently to different parties. He also shared that he finds the know your customer (KYC) use case of blockchain interesting since customers’ information can be encrypted and recorded in a decentralized system and accessible to various parties at the same time.

Ms. Beryl Lai, Brand Creative Lead of Blocklime, speaking on “Project Branding and Marketing for Blockchain Projects”

At the last session, Ms. Beryl Lai, Brand Creative Lead of Blocklime, presented apparently the most elusive topic in the entire industry – communications, in which she focused on branding and marketing for blockchain projects. According to Ms. Beryl, the reason why branding is important is because it builds human connection, authority, trust, positioning and brand awareness for the company. As such, to develop a strong brand identity, companies have to define their brand attributes, mission, value, personality, brand voice and unique positioning. Moreover, she also shared some tips pertaining to blockchain branding such as offering thought leadership, community outreach, real-time analytics & user engagement platforms.

In the exclusive interview with ABR, Ms. Beryl indicated that education of blockchain developers is improving tremendously in Malaysia, which is a good sign due to an increase of local talents. Besides, blockchain is now deemed to be a male-dominated industry, thus, in order to advocate for a gender balance in the blockchain space, Blocklime has encouraged women, especially female developers, to participate in their hackathons and bootcamps by offering discounts and scholarships. She also shared about Dappathon Tour – a hackathon for decentralized applications organized by and co-hosted by Blocklime.

To sum up, ABR would like to give special thanks to all attendants, our venue partner, The Co. and our speakers from University of Malaya and their Faculty of Law, JusTECH, Neuroware, BESC and Blocklime for collaborating with us. Please stay tuned for our next event  lineup as we at Asia Blockchain Review aim to facilitate a community and media platform to support Asia-facing blockchain businesses.

About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.


Twitter: @abr_blockchain

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