Even the International Monetary Fund (IMF) is suggesting that banks invest in cryptocurrencies and has urged the fintech industry to provide solutions for consumers related to trust, security, financial services, and privacy in this area.

The combined market capitalization of Cryptocurrencies has skyrocketed from US$18 billion at the start of the year to US$100 billion in July. This threshold break is due largely to Bitcoin which recently hit a record high of over US$6,000 (over SG$8,000) in August 2017 with a market cap of over US$70 billion.

Interest in Blockchain technology and Cryptocurrencies has also spiked.

One of the objectives of the Summit is also to update delegates on the latest in regulatory issues by governments in Cryptocurrencies and to guide corporations and investors about Blockchain technology and how to deal with Cryptocurrencies.