7th November at BitTemple, NEM invited to sponsor the Pinnacle: Blockchain and Introductory Event Workshop for Enterprises event. Lance Cheang (NEM SEA Project Director) was assigned to talk about the Social Impact of Blockchain. On his talk, he showcased some projects using NEM blockchain answering problems in real life with cheaper way. Instability and fractional reserve is one of the trust issues raised to banks and the trustless system was created called bitcoin.

“How will you explain blockchain on a 5-year old. Imagine father has $10, mother has $10, and a son is 0. Everybody has a list, which means the same piece of information is distributed across the three people and it’s immutable. The list of transaction continues to grow that means you are not able to erase that is something written into the blockchain or on that list before. To explain the cryptography, I tap my ear, he raises his hand. You can see that he raises his hand but do you know why? You wouldn’t. You can see it happening but not the reason.” — Lance Cheang

Sarah Nabaa, Singapore Country Manager of VeChain, discussed about the complete control and complete visibility of logistics and supply chain by sewing smart chips/RFID to basically help the tracking of in and out on warehouses and NFC will create a customer interaction with the bag.

IntelWise’s Lincoln Teo, CEO of IntelWise’s Group, aims to combine of all the information that they have together and of what they have seen from the ICOs that came up, to establish the people behind those businesses, who’s managing it and is this company will really go for the future.