Blockchain is a new technology system of recording which most people know in relation to cryptocurrencies. But this revolutionary technology has many other uses which have highly impacted other areas. According to Don & Alex Tapscott, two leading figures in blockchain, “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” Some of the many potential advantages of such technology include increased transparency and accountability, reduced business cost and new ways to address social problems. Top 10 of Asia looks at some of the companies (in random order) at the forefront of this innovative technology, proving that it is more than just a buzzword.
Indodax is the largest digital asset exchange in Indonesia. As a pioneering blockchain startup in Southeast Asia, it brings together buyers and sellers to trade various kinds of digital asset using Indonesian Rupiah. Indodax was founded in 2014 by Oscar Darmawan and William Sutanto, with the name Bitcoin Indonesia (Bitcoin.co.id). Only within 4 years, Bitcoin.co.id has served more than 1.5 million members from Southeast Asia.
Tripio uses blockchain to become a decentralized marketplace for hospitality services. The Singaporean company connects customers and service providers globally in a peer-to-peer network. It has a global database of around 450,000 hotels, homestays and lodgings where users can choose from. Tripio is one of the projects that qualified for listing on Huobi HADAX digital currency marketplace having completed a rigorous listing process that involved cross evaluation by reputable institutions and a democratic community vote.
Many of us have experienced the hassle of money transfer and having to deal with sometimes exorbitant fees. Toast is a Singaporean company providing remittance services to Singapore’s migrant workers. Using blockchain, Toast is able to provide lower fees for remittance compared to banks and lower average wait times compared to money transfer shops.
Amilabs is a Bangkok-based fintech company providing blockchain-powered software development and consulting services. It implements smart contract Ethereum technology for asset digitization, wallet production amongst additional blockchain services through their products Everex Wallet, Ethplorer and Chainy. Their flagship project is Everex (former Midas Rezerv), which allows investing, trading, and making payments with physical gold using bitcoin technology. The gold is stored in secure, fully insured and auditable vaults, with the bank guarantees and safekeeping records.
DXMarkets integrates blockchain technology into enterprise-based financial processes, increasing efficiency and reducing costs. It works with a number of blockchain platforms to develop custom made yet universal and scalable solutions for each of its clients.
LALA World is an established and fast-growing technology company using Blockchain to create a connected financial ecosystem for the disadvantaged around the world. Founded in 2016 and headquartered in Singapore, LALA World is a social business with its presence in 5 countries and over 100 global partners, including, government agencies and NGOs. LALA World is building a Global Digital Decentralized Financial Ecosystem to support the inclusion of the migrants, refugees, undocumented, micro-entrepreneurs, students and everyone else.
Patron is a Japanese company whose goal is to create next-generation services for influencers and provide a platform to give equality to influencers, both globally famous and local. It is a platform where influencers and social media users can publish, discover, reserve, or sell influencer data. It is essentially a unique one stop shop for social media focused brands and influencers themselves.
Digix is a pioneer blockchain company that has been active since 2014. It is building an ecosystem that aims to be the 21st century gold standard on the Ethereum (cryptocurrency) blockchain – to increase the accessibility of investment grade gold for the average person through their flagship product, DGX. By doing so, it also helps traditional precious metals businesses to reach a wider audience. It leverages the transparency and security afforded by blockchain technology. Since launching its product in April 2018, it has since put more than 88kg of 99.99% gold bars onto the blockchain which has a dollar value of more than USD3.7million at the time of writing.
Gatecoin’s intuitive trading platform enables individuals and institutions around the world to trade and invest in a wide variety of cryptocurrencies and blockchain assets. Based in Hong Kong, it was the first exchange in the world to list Ethereum’s token, Ether (ETH) in 2015. It was subsequently the first exchange to list ERC20 standard tokens associated with decentralized applications (dapps) built on top of ethereum and the first to provide direct participation in token generation events (TGEs) or initial coin offerings (ICOs).
Codezeros is a blockchain consultancy and advisory service based in India with offices also located in the U.S. and Dubai. It offers a wide range of offerings from healthcare to fintech to provide solutions for business ideas and scale them to turn them into a sustainable business model.