After their panel on how blockchain technology is changing the world of finance and enterprise at Hong Kong FinTech Week 2019, Digital Asset cofounder and CEO Yuval Rooz and R3 CEO David Rutter answered follow-up questions.
Innovations in privacy-enhancing technology can address the challenges confronting enterprises from a regulatory, security and competitive perspective, writes Jonathan Rouach, CEO and cofounder of QEDIT.
Smith + Crown focuses its attention on headlines and projects it considers as key developments likely to prove influential in determining the course of blockchain events in 2020.
As China's digital currency is said to be "progressing smoothly," Indonesia is also working on releasing their own white paper this year, according to Indonesian Blockchain Association cofounder Pandu Sastrowardoyo.
Indonesia is a country of 17,508 islands and 260 million people, including 171 million internet users. It’s a huge market, dominated by the digital economy that's ripe for blockchain disruption.
Although Switzerland's Crypto Valley may seek to become a global blockchain hub, its government is too slow to adopt the technology even as Facebook's Libra incorporates in the country, according to Trust Square cofounder Daniel Gasteiger.
Blockchain technology and digital assets have the potential to change the entire finance industry. These blockchain-powered payments networks enable cross-border payments to be hassle-free by having a standard set of technical specifications and standards – reducing confusion and ensuring that all members of the network have access to the same technology, says Ripple's Navin Gupta.
The central bank’s digital currency efforts, ironically, would give it more control over the economy.
Identification on a protocol level could help blockchain become mainstream for blue-chip companies like MasterCard, Volvo and Geely if international regulations are met. Anonymity is "exactly what is hindering wider use of blockchain," said Concordium CEO Lone Fonss Schroder.
Using blockchain and encrypted computing in smart cities can protect user privacy as China builds out a new data infrastructure, says Vincent Wang, chief innovation officer at Wanxiang Group.