Blockchain Thailand Genesis 2019: The Future of Financial Disruption will be held on Saturday 30 November 2019 at Samyan Mitrtown - MRT Samyan station. The event will be featured with exhibition area and business talk, main panel discussion and seminar room as well as workshop for exchanging new trend and knowledge from many of the top-notch in the industry e.g. Cryptomind, Bitkub, SIX network, Carboneum, Smart Contract Thailand, Kulap, Om Platform, Bitcoin Addict, Siam Blockchain, Blockchain Review and also got full support from Ministry of Digital Economy and Society, Digital Economy Promotion Agency (DEPA) and Securities and Exchange Commission (SEC)
Blockchain - reducing intermediaries, increasing optimization
Natavudh (Moo) Pungcharoenpong or also known as Moo Ookbee - Founder and CEO of Ookbee company which is one of the project owners of SIX network, the company that applies blockchain technology and digital assets to his content business said "With the arrival of blockchain, it can serve as a decentralized platform in order to get rid of the middlemen, as a result, the entire supply chain benefits. There are many intermediaries in our traditional financial system. Most of the time intermediaries take a cut in every step of the way. Blockchain is the technology that enables the existence of cryptocurrency. Everyone may have heard about Cryptocurrency or Bitcoin or any other digital currencies. The major difference between cryptocurrencies and traditional financial models is in the decentralized nature of cryptocurrencies. I believe that blockchain technology is the most important tool to make a better standard of our financial system in the near future and holds huge potential to disrupt those intermediaries plus creating a more prosperous world where people get to participate in the value that they create"
Bitcoin is not just normal money
Akaradet (A) Diawpanich - Founder of Coinman, knowledge hub for blockchain technology and cryptocurrency investment said that "The world is changing at a rapid pace, at the very begining of the internet, it was condemned as a tool for selling/sending illegal stuff, pornography, etc. Nowadays, the internet has numerous benefits for us and it is hard for people to live without it.
When Bitcoin started and people claim that it is dirty money for laundry and trading illegal stuff. Actually, Bitcoin is not just a type of money but it is an open financial system that everyone can use. It is uncontrolled and built on a peer-to-peer network which ensures stability and prevents any one group from having control. It is borderless. It doesn't require powerful intermediaries to authenticate or to settle transactions. No one can control your financial assets and that means we are free to use this digital currencies as it is completely decentralized. Moreover, Bitcoin is just the starting point, many interesting digital assets have a similar concept and are on their way to change the world."
Blockchain creates sustaining transparent society
Prinn Panitchpakdi - Deputy leader and Head of economics team, Democrat Party. One of the politicians that have been supporting and interested in blockchain technology said "Blockchain technology innovations will be a crucial part to change business operation especially in part of transparency and information audit. Nowadays, information is like a gold mine. It is very important to know how to keep this information safe and secure. Also, how to maximize the utilization of this information for the benefit of the company, ourselves and society.
Some businesses like startups or SMEs, can't find the right source of money supplies. Blockchain system could connect these small businesses which have brilliant ideas but lack of liquidity with a group of people who have more liquidity in hands. Blockchain could also help small enterprises to have more liquidity during their fundraising period.
In part of transparency, blockchain will promote good governance in the business sector for Thai society. I believe that government sectors like Office of the National Anti - Corruption Commission (ONACC), Anti - Money Laundering Office, State Audit Office of the Kingdom of Thailand will benefit greatly from blockchain technology in part of auditing, storing information and utilizing it promptly."
Blockchain shakes the unshakable financial industry
Jirayut (Top) Srupsrisopa - CEO of Bitkub, digital currency exchange and also a board of directors at the Thai Fintech Association said "We know that technology is constantly changing and advancing. As time goes on, we use and rely on it more and more and less on traditional methods.
Bitcoin has introduced only 10 years ago and it has shaken the Financial industry. Blockchain technology is not different than any other technology but in the future, every industry and every company will use blockchain technology. It is just like the 'internet' that is being used widely in every aspect and so will blockchain in the next 5 - 10 years.
Let's have a look at our traditional way of financial transaction when we want to do something with our money, we have to rely on many intermediaries. If you want to transfer money, you have to go to the bank. If you want to buy gold, you have to go to gold shop. If you want to buy land, you have to contact a real estate agent. The fee or the price are all depend on those intermediaries and we have to be there at the places where it offers the services but with blockchain where everyone can upload every value in digital format makes a lot faster process and create more liquidity. Therefore, in the future, if you want to trade anything - diamond, gold, land, including intellectual property it will be in digital format and it will work efficiently because it is an open system and we don't have to rely on intermediary anymore."
The organization, business and individuals who are interested to join Blockchain Thailand Genesis 2019: The Future of Financial Disruption. The biggest blockchain and digital asset event in Thailand on Saturday 30th, November 2019 at Samyan Mitr Town shopping center, can visit www.blockchain-th.com and www.facebook.com/blockchainthailandevent for more information and to buy your ticket.