Events 4 February 2018Stephanie Tower
Blockchain and Bitcoin Conference Philippines 2018 summary
The recently concluded Blockchain and Bitcoin Conference Philippines 2018 was held at the Marquee Hall of the Shangri-La in Manila. This event has brought together over 350 enthusiasts and specialists of cryptocurrencies and blockchain technologies from the Philippines and other countries around the globe.
A first in the country by event producer Smile Expo, this conference has created an opportunity for the crypto currency communities to network, and for experts for to share their experiences into integrating the blockchain technology into various business sectors.
Zach Piester, co-founder of Intrepid Ventures, opened the sessions with understanding the basics – what bitcoin is, how blockchain technology works, and the risks that come with Initial Coin Offerings (ICOs).
Piester also encouraged those who plan to integrate blockchain and cryptocurrencies into their businesses to think of the importance of user interface and customer experience. Thus, he shared how businesses should give value to the role of designers, not just developers.
A number of speakers have touched on the topic of ICOs and tokens, and these have become the center of queries among the participants too.
Only the rose among the thorns, Nithinan Boonyawattanapisut, CEO and Founder of Hotnow, ran down the ways to identify quality ICOs during her session. She included the red flags every ICO enthusiast should look into such as:
1. Too much of minted coin is reserved for the team
2. The White paper focuses more on the potential appreciation of token
3. There is no underlying economy to drive demand
Moderator and speaker Jimmy Nguyen, CEO of the nChain Group, had the most interesting and engaging session during the conference by opening up to the audience the idea of the bitcoin commerce (bComm) world. He discussed how the ecommerce sector will change with the emergence of cryptocurrency and how it will move to bComm.
Nguyen pointed out one of the five keys for this to be achieved is thru sensible regulation. He brought up how a lot of people in the crypto community are afraid of law and regulation. “The reality is you can’t regulate the network because it’s decentralized but all of the companies including people in this room who operate businesses interfacing with Bitcoin and real life consumers, I’m going to tell you, regulation is coming and it’s OK. You should be thankful for it, [as] it would normalize and support the industry,” he stated.
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Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
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