The team at GBX attended a week’s full of events in Singapore: Blockchain Summit Singapore, Blockchain Invasion and The Insider’s Edition.

2018 Singapore Blockchain Summit

The Gibraltar Blockchain Exchange was invited to speak at the Blockchain Summit in Singapore on 28th Aug 2018. The event stood out particularly as more traditional financial institutions were also involved, many of whom have only recently begun to embrace blockchain technology. Notable institutions in attendance included IBM (R3), Deutsche Bank, Thomson Reuters, Accenture, Deloitte, KPMG, EY, ING Bank, AXA, and Cisco, amongst others.

Andrew Pal (Right), Chief Strategy Officer at GSX, and Chuan Ji Lim (Left), Business Development Manager at GSX

The theme of the day revolved around blockchain use cases for businesses, and how blockchain technology can disrupt or even reinvent existing businesses. With so many traditional institutions in attendance, it became clear that the end goal of crypto and blockchain is now closer than ever to becoming a reality — volume, scale and mainstream adoption.

One major topic of discussion was how the lack of regulations would affect institutional belief and business confidence. Andrew Pal, Chief Strategy Officer at the Gibraltar Stock Exchange, was invited to speak on the panel “Regulating blockchain and cryptocurrencies to encourage innovation and confidence”.

There was a diverse mix of participants on the panel including Legal Counsels, Fund Managers and Entrepreneurs featuring alongside our representative from the Exchange. Andrew was joined by his pals, Bogusz Grotowski, Director and Senior Counsel at Deutsche Bank, Chia Ling Koh, Digital Business Lawyer at OC Queen Street LLC, and Yale ReiSoleil, CEO of IOB LLC.

Andrew (1st from the right), on the Panel of “Regulating blockchain and cryptocurrencies to encourage innovation and confidence”

The panel discussed broad topics including the need for self regulation versus full regulation, the call for best practices to be ported over from the traditional finance world, such as disclosures and client money protection, the barriers preventing institutional liquidity from entering the space, and having an orderly market that is resilient to shocks and market manipulation.

“We need to be aware of the local & ASEAN regulatory climate, such as Singapore’s proposed Payments Services Bill, rather than passively adopting extraterritorial influence, such as FATCA,” Andrew explained on stage.

The Blockchain Invasion and The Insider’s Edition

GBX was also invited to speak at two events earlier in the week, ‘Blockchain Invasion’ and ‘The Insider’s Edition’, both hosted by Whitebox. Participants at the events included Sponsor Firm ICOMain, and also Carbon Grid Protocol and Õpet, both of whom have been admitted to the GBX GRID for their token sales.

Chuan Ji Lim, Business Development Manager at the Gibraltar Stock Exchange, spoke on the panel entitled “Regulatory Outlook — A Tale of Two Nations” and also provided the Exchange’s perspective on “Token Sale 101: Best Practices for a Sustainable Token Generating Event”.

Chuan Ji (second from right), speaking on the panel “Regulatory Outlook — A Tale of Two Nations”

“Projects need to understand that, despite the favourable landscape, they ultimately need to focus on delivering their roadmap and adding value to their community. The transformative effect of blockchain technology comes about when it unites together disparate groups of people using tokenomics and token structure design beyond what a traditional business model is able to achieve.”

The three events sum up nicely what the GSX Group aims to be: an entire ecosystem where the stakeholders — Sponsor Firms, Entrepreneurs, Institutions and Regulators — coexist together to foster a collective accelerator for the advancement of innovation using blockchain technology.

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