On September 19th, Asia Blockchain Review (ABR) was thrilled to hold their first blockchain meetup ever, titled “ABR presents Thailand blockchain landscape report” in Bangkok, providing an in-depth analysis of the blockchain landscape in Thailand. Thanks to the partnership with the two leading local players Bitcoin Addict Thailand and ICORA, the event opened up a discussion on Thailand blockchain overview, local projects and especially, current regulation on this disruptive technology.
Ms. Nicole Nguyen, Head of APAC at Asia Blockchain Ventures, sharing about Thailand blockchain landscape
The meetup commenced with the impassioned speech from Ms. Nicole Nguyen, Head of APAC at Asia Blockchain Ventures. She presented a broad picture of blockchain adoption and proliferation in Thailand. Thanks to the developed fintech and payment infrastructure, Thailand is deemed to be an exciting market for a plethora of blockchain applications. Considering that blockchain regulation is still getting in shape, Ms. Nicole anticipated that the community is going to thrive much faster once the government presents a more concrete regulatory framework. Finishing the presentation with an open-ended question, “Will Thailand become the next blockchain hub with more international players and events in the future?, the representative from Infinity Blockchain Ventures challenged the audience to come up with the answer.
Mr. Akaradet Diawpanich (A), Chief Strategic Officer at Bitcoin Addict, sharing about Thai community landscape
In the next session of Thailand community landscape, Mr. Akaradet Diawpanich (A), Chief Strategic Officer at Bitcoin Addict, discussed the importance of a blockchain community in an effort to avoid massive fraud and scam. He pointed out that the community support along with regulation would form a perfect combination to protect users from scam. Adding valuable insight from Thai community statistics, Mr. A gave out some interesting statistical analysis detailing investors’ age group, net-worth to investment size. “Most of the investors in the ICOs are under thirty or the so-called Millennials” – quoted Mr. A.
Mr. Sanjay Popli, the representative of ICORA Asia, talking about the new concept of “ICO Portal”
The next speaker Mr. Sanjay Popli, the representative of ICORA Asia provided audiences with the comprehensive overview of ICO Portal – a designated body in charge of evaluating license applications of initial coin offerings (ICOs) in conformity to guidelines by Thailand Securities and Exchange Commission (SEC). As explained by Mr. Sanjay, ICO Portal promises to power “honest” ICOs and protect retail investors from scammy ICOs, and the final goal is to prevent ICO projects from “slowly dying out”. However, from his profound knowledge and experience, Sanjay spoke about both strengths and weaknesses of the Portal implementation as well as threats and opportunities that come with ICO portal.
Ms. Aunchisa Tapanakornvut, Senior Officer of the SEC FinTech Department, discussing the current Digital Asset Regulation in Thailand
As the last speaker, Ms. Aunchisa Tapanakornvut, Senior Officer of the FinTech Department at the Securities and Exchange Commission, explained the key concerns in Thailand ICO market, the reaction as well as the role of SEC as a regulator. In the context of considerably high percentage of scammy ICOs, the government has no option but to promulgate stricter regulation. Along with ICO Portal, she explained the mission of SEC in educating Thailand investors in a way that they have enough knowledge to protect themselves from scams with the motto “Education is the key”. Finally, Ms. Aunchisa honestly admitted that the current regulatory framework is not perfect and SEC is looking at the regulations that will provide more flexibility and are more conducive for more healthy ICOs.
Finally, Asia Blockchain Review would like to give special thanks to representatives from Bitcoin Addict, ICORA, SEC and especially, all the beloved attendees, for your kind support towards our “Thailand Blockchain Landscape Report” meetup and we look forward to seeing you at our next events.
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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.
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