People were afraid of using their credit card when the internet first came out.

E-commerce giant Alibaba achieved a total transaction volume of 213.5 billion yuan (US$30.69 billion) in a single sales day during the Double Eleven Shopping Festival on November 11, 2018.

People are sceptical about cryptocurrencies now, as we are still in the floppy disk days of the blockchain technology.

Current state of the crypto market:

• Market cap: $211B
• 24 hours volume: $13B
• BTC dominance: 52.3%

Cryptocurrency market will surpass the $1 Trillion mark.

It’s just a matter of time. One day we will look back and remember how early we were.

2 years later, at 13th November 2020:

DeFi was one of the missing puzzles back then.

Many more pieces of puzzles to come, until the dust settles.

Similar to how the web progressed throughout the past 20 years, blockchain is the web, all over again.

From information sharing to value transfer.

Just like every business needs a digital presence today (going online), anything that can be tokenized will eventually be tokenized 10 to 20 years down the road.

What next? NFT (Non-fungible Token).

Build trust. Transfer value.

p/s: And $1T cryptocurrencies market cap will be just the beginning mark of another great journey in human history. #ToTheMoon

The post The $1 Trillion Market Cap appeared first on Blockchain Insider.

Tokenization is the process by which the real asset value of the property is represented digitally on the blockchain in token form.

What problem is Tokenization trying to solve?
Fractional ownership and Liquidity, some over priced and over supply issues perhaps.

How?

Create and mobilize new form of capitals.

Challenges?

Trust. Circulation. Legal.

Bringing Down Borders

If I were to develop a city, and I issue a token which has these 4 characteristic or functions:

1) Security
Token holders entitled to earn certain income or profit sharing for x number of tokens hold over y amount of time.

2) Privileges
For upcoming or in-house projects, token holders entitled to special price or privileges.

3) Utility
Token holders can use their token to pay for services or products under internal environment, such as inter-city spendings.

4) Currency
This token is acceptable by other cities or entity other than the issuer.

Now, tell me what breed of “money” shall we identify this token?

The key is programmable money.

It is good that we have the direction of coming up with technical and policy framework for programmable money first.

Implementation wise, it is do-able technically due to its programmable nature.

Take the analogy of a simplified illustration of daily life of a working male adult:

Early morning as he steps into the office, he will play the role as an employee of the company, where his action will be bound by company rules and (common) work culture.

After office hour, as he transits back from company to home, he would be bound by social etiquette and city rules along the way.

At home, he could be playing the role of a husband, and a father to his children, where family values play the major factor defining the activities he could be carrying.

Condition of a situation may define the role and characteristic of an entity, thus resulting in the activities and produce the consequences.

Quantum elements exist in the thought process.

Presentation slides used:

Follow up news:

It is interesting to note that one of Malaysia’s initiative is featured in one of Coin Telegraphs report on Municipal Crypto.

A Mechanism To Fund Certain Projects

States, provinces and municipalities could use cryptocurrencies to fund projects and programs. Municipal cryptocurrencies — that is, cryptocurrencies launched by cities — could offer citizens a new way to invest in a certain location and even buy goods while helping governments to fund projects.

The minimum bond investment is $1,000, although they are usually sold in batches of $5,000. People who want to invest less simply cannot do it. Cryptocurrencies and tokens could be used for assets under $5 million and enable investments under $5,000.

The main mechanism for municipal cryptocurrency is the securitization of assets.

* Securitization is the process of establishing a financial instrument that merged from various financial assets into one group.

The post Tokenizing Real Estates appeared first on Blockchain Insider.

1) For your 16th April talk to my group, focus less on Cryptocurrency. Members want to know possibilities of Blockchain applications in their businesses.

2) Please also include real life cases on how Blockchain has been successfully implemented in the above. My members are more interested in reality than theories.

3) More important is to be engaged with members during presentation and sharing.

No problem with all of above requirements, quite common nowadays.

Try to explore more from tokenomics or datanomics point of view, rather than pure currency viewpoint.

You want that immutability, transparency and traceability part of it, that trust element. And if you do away the tokenomics part, you are letting go the most important power the technology brings.

For instance, incentivizing good behaviour.

People are reward centric. Annual appraisal for salary increment, performance bonuses, sales incentives, etc. Why do we have these? As encouragement or as token of appreciation.

Once you understand thoroughly, you won’t discard the monetary (whatever you want to call) part of it.

Money makes the world goes round. Data is the new oil, explore datanomics.

Just a matter of perspective.

Opencert

On 3rd May 2019, Channel News Asia reported the ‘tamper-resistant’ digital certificates project by Singapore’s government.

The Blockchain use case by Singapore’s government shows the city state’s pro-blockchain stance and its progress implementing the technology at a national level.

It states the reason they use Ethereun(ETH) in Open Certs Project FAQ page:

Ethereum is the blockchain network with the largest developer base, as well as having a large number of participants securing the network.

Nike’s Cryptokicks

Nike Digital is a $2 billion digital commerce business.

Nike files trademark application in the US for ‘Cryptokicks’.

International Class(es): 036 – Primary Class:

“financial services, namely, providing a digital currency or digital token for use by members of an on-line community via a global computer network; facilitation of financial transactions using unconventional currency systems and bartering, namely, facilitating transfers of electronic cash equivalents; facilitation of crypto-currency transactions, namely, virtual currency exchange transaction services for transferrable electronic cash equivalent units having a specified cash value; …”

“This appears to be a filing for a brand of a #cryptocurrency … this is trademark speak for ‘this is a cryptocurrency called Cryptokicks.” ~ Josh Gerben, a trademark attorney in the U.S. who analyzed the filing on Twitter.

Jaguar IOTA

Another use case for cryptocurrency by big brand in the making after Nike’s Cryptokicks move:

United Kingdom car manufacturer Jaguar Land Rover will use blockchain network Iota to reward drivers with cryptocurrency for data reporting.

“In the future an autonomous car could drive itself to a charging station, recharge and pay, while its owner could choose to participate in the sharing economy — earning rewards from sharing useful data such as warning other cars of traffic jams”

A year ago, Germany-headquartered car manufacturing giant Daimler AG, famous for its Mercedes-Benz and Smart brands, presented its own Blockchain-based digital currency MobiCoin at the Mobile World Congress 2018 in Barcelona. The project, which started in February 2018, was created to reward drivers for environmentally-friendly driving habits, i.e. smooth and safe driving at low speeds.

Incentivizing good behavior.

2019-2020 will definitely be the delivery year of more Blockchain use cases and the acceptance of Crypto by conventional brands (be it Crypto Paradigm or Glorified Voucher/Loyalty Program).

Notes

The above presentation file was created for Vistage group members. Below are the feedbacks from 3 of the close group sharing made, just for log purpose and future reference on any area of improvement.

Feedback to Koh How Tze’s presentation on 16th April 2019:

Feedback to Koh How Tze’s presentation on 18th April 2019:

Feedback to Koh How Tze’s presentation on 15th May 2019:

The post Blockchain and Its Practical Applications appeared first on Blockchain Insider.

Learning… to connect the future dots.

We have quite a handful of information available for reference as we steer towards the digital future. Financial frontier is definitely a very important part of it because there is no part of life that money does not affect, be it in the conventional or data form.

Putting the transparency, traceability, trust and tax automation into the digital financial system in a well connected world through the blockchain technology and Cryptocurrency model is highly possible. CBDC, Central Bank-issued Digital Currency is well on its way.

It is how we fine tune and adapt along the way that matters. As the saying goes, it is not about the destiny, it is the journey.

It was a fruitful trip and we are thankful to World Bank Group Malaysia for the invitation. Looking forward further collaboration soon.

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