JustCo had the pleasure of bringing together four insightful panelists to go beyond the hype of cryptocurrencies and dive deeper into the realm of blockchain technology.

Participants not only gained valuable insights from industry experts, they also got to mingle and network over free flow of beer and wine, sponsored by our good friends at PwC.

Our community sharing ideas over a drink… or two  .

For many, the concept of blockchain itself is enough to leave us muddled and confused. Blockchain is, put simply, a digital ledger of transactions that can be programmed to store anything that has a value.

The products that have come from the technology of blockchain are specifically designed to solve existing economic issues, from remittance to intellectual property to even logistics.

“Right now in this world and age everyone is dependent on third party storage and third party logistics. Everyone wants to have more control, and they want to know where the product is and how it is being treated.” Says Sarah Nabaa, Country Manager of Vechain.

Blockchain technology removes the need for an intermediary because it is a decentralized database. Duplicating or cheating the data will affect the previous chain of records on the ledger. This results in a higher level of accuracy for companies seeking to improve their business process.

Introducing our lovely team of speakers (left to right):
John Patrick Mullin, Hayk Hakobyan, Leyu Ong, Sarah Nabaa and Hong Qi Yu.

However, the use of a public database might not be necessary for non-retail services, where it is purely B2B. Hayk Hakobyan, a partner at Vision Capital, explains: “For chemical logistic companies, you need some type of privacy. Let’s say you are going to a doctor, you tell him you are sick. Do you need people to vote whether you are ill or not?” With this, the audience chuckles. “No, of course not, so I’m not for the inclusiveness if it is not needed.”

The evening concluded with a variety of questions raised from our audiences. We are grateful to be able to bring like-minded individuals together to share thoughts and ideas! A big “thank you” to all of you who made it, you guys rock <3

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Written by
Victoria Wong