Why‌ ‌the‌ ‌Momentum‌ ‌of‌ ‌Blockchain‌ ‌is‌ ‌High‌ ‌in‌ ‌2020

Asia Blockchain Review
January 11, 2020

Blockchain is a very detailed structure of data that magnifies the authenticity of every single transaction and progression in the digital world. Despite it being discussed over many years by endless entities; a lot of people are still clueless about the overall concept of it and its importance for the growth of the whole nation, moving forward. 

Transparency Progression

As the new year approaches, new developments and changes are bound to happen. In South East Asia, major countries and key players have immersed themselves into the growing market of Blockchain and acquired their skills and knowledge into digital transformations, crypto exchanges, and most importantly; the reason why the changes happened – secured transparency in the overall operation. 

South East Asia is Taking The Lead

Laws have been enacted in Thailand that will govern cryptocurrencies and the initial planning for the token of blockchain for securities settlements have been planned out. The Governor Bank of Thailand claimed that the usage of blockchain technology will not just safeguard all the financial information, but also will reduce the number of fraudulent ventures by anyone and anything. In fact, the central bank of Malaysia has been welcoming the usage of technology in the banking sector and the Philippines have recognised blockchain as a revolutionary tool. The government of Singapore has even set up funds and incubators that are focusing on the usage of blockchain entirely.

With every single transaction being digitally recorded and authorised, the authenticity of the whole process is being officialised as the highest integrity. When it was first announced, the technology was already seen as the ground-breaking technology with the potential to positively affect various industries.

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