ETC Labs attended Consensus: Singapore from September 19th to September 20th, with James Wo, Chairman of ETC Labs and Digital Finance Group, participating in a discussion on the future of forks and the value it brings to the blockchain. We were excited at the opportunity to exchange information and talk with visitors who stopped by our booth to know more about our plans to grow the ETC ecosystem. Their response and interest in applying for our incubator program was incredibly positive.

James stated that the value of a fork comes from the basic difference in each blockchain’s philosophy, and serves to fulfill differing market needs, while also offering individuals the flexibility to select the blockchain or digital asset of their choice. He also emphasized the importance of maintaining the allocation of coins and the decentralized nature of the blockchain after the fork.

James Wo, Chairman of ETC Labs and Digital Finance Group, after participating in a panel discussion on the future of forks and the value it brings to the blockchain

James remarked that the fork highlights the inherent benefits of both blockchains, for example, uploading smart contracts is much cheaper on Ethereum Classic, while Ethereum is better for using tools such as MetaMask and Infura. As far as competition between the two is concerned, he maintained that competition is a good thing and will help the blockchain grow — for example, comparing ETC to ETH will ensure that ETC will always try to be a better version of ETH.

Organized by CoinDesk and TechXLR8 Asia, Consensus: Singapore attracted thousands of attendees from all over the world. Hosted for the first time in Singapore, more than 75 speakers contributed to two days of powerful insights into blockchain technology, industry news, and networking opportunities. The event hosted numerous discussions on blockchain and fintech with speakers from IT, finance and media powerhouses, including OKEx, along with CoinDesk, HTC, Ethereum Foundation, and Quartz, among others.

ETC Labs plans to grow the ETC ecosystem by helping startups in the ETC space take their ideas to the next level through direct investments and by connecting them to a network of investors and supporters. ETC Labs will host the first pilot projects at their office in San Francisco starting October 1st, paving the way for their incubation program scheduled for the first quarter of 2019.