The development of regional chain technology in Southeast Asia: Thailand is the most interested and Singapore has the highest acceptance

20 years ago, no one can accurately predict the impact of intelligent mobile phone and the web of human invention. With the rapid development of technology, so the current block chain technology.

The block chain with bitcoin, Ethernet square and Wright currency and other encryption currency confused is a common misconception. Although the block chain as the underlying encryption currency and highly anticipated, but the technology itself has many other uses.

The blockchain was touted as a revolutionary reform of the global supply chain, industry and management in twenty-first Century. The blockchain versatility and to the center has been widely recognized in the area of Southeast Asia, many governments are keen to push the blockchain technology into commercial and public sector.

Positive development

Thailand showed the most intense interest. The country has made the management of encryption currency law, and plans to offer the blockchain tokens for instant securities settlement. Recently, the central bank said, is considering the block chain for chain block cross-border payments, supply chain financing and document authentication application.

According to the Bank of Thailand governor Veerathai Santiprabhob said, using the block chain technology can help protect financial information, reduce the number and size of fraud.”

At present, Singapore block chain technology acceptance of the highest state, particularly when it comes to ICO. In Chinese identified ICO as illegal financing tools banned, the island has become the first choice of China company ICO. The Singapore government and the private sector has established the incubator and investment fund, focused on money and other uses encryption blockchain.

In addition, Singapore also began to try to use the blockchain technology breakthrough in the field of energy. Headquartered in Singapore, Electrify uses the technology to create a P2P energy market, in this market, people can buy and sell electricity at a lower price. This start-up company recently raised $30 million in funding, hoping to force allows the user to select the preferred energy supplier regulations, further into the Singapore market.

Malaysia set up a block chain center of Asia’s largest economy — new sports foundation (NEM). It will be used for the popularization of technology education for the masses, and through the incubator and accelerator program to block chain based on emerging start-ups.

 Overview of block chain technology development in Southeast Asia: Thailand most interested in receiving the highest degree of Singapore

Source: various sources

The Bank of Malaysia has been in the bank using the block chain technology open. In addition, it is also a financial technology sandbox, allowing even in Malaysia there is no business of financial technology company in the test period of not more than 12 months to participate. The most important thing is that it is taking the necessary measures to monitor and supervise their domestic currency using encryption. In the published report, there have been 9 encryption currency supervision institutions registered in the central bank.

A bright future

Indonesia is eager to grasp the opportunities of industry chain block. Over the past year, the related start-ups blockchain exploding, initially focused on crypto currency field, now moving into other areas.

The next block chain may bring revolutionary changes to the country’s government, supply chain logistics, consumer transactions and data security. The public and private sectors are seeking cooperation, to overcome the challenges associated with data management. For example, the blockchain Online application based on Pajak is helpful to improve transparency, and reduce the paperwork burden and tax system.

In Vietnam, the start-up system may be developed for mature block chain application to pave the way. The government recently launched a financial sandbox of preparatory work, related start-ups can also use the chain block. The mobile network provider Viettel and intermediate payment service provider Napas company has been testing this technology, and launched several pilot projects.

Philippines also believes that the block chain is a revolutionary tool, set up in May this year in Philippines block chain association (BAP), can provide more information and guidance for any of the blockchain people interested in technology. One of the biggest banks in Philippines Union Bank Chairman Justo Ortiz, BAP hopes to help small and medium-sized enterprises deploy block chain technology, in order to provide a competitive advantage for them.

In addition, in order to improve the country’s financial inclusion, union bank also chose 5 rural banks in Philippines the second largest island of Mindanao to block chain pilot project, the project will test the real-time and cheaper retail payments, aimed at rural banks connected with the main financial network in the country.

Other like Laos, Brunei, Kampuchea and Burma, block chain technology is still in the early stages of integration. From financial services to the e-government project, block chain technology is widely used, although not yet formed obvious achievements, but these measures indicate that people are increasingly aware of the block chain is a basic technology in the future.

(I’m Odaily reporter for the daily planet Mu Showtime, exploring the real exchange block chain, broke the news, please add WeChat wsuixin12, please note Name, unit, position and reason.)

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