During Distributed 2018, a gathering of enterprise entrepreneurs and decentralizing thought leaders held in San Francisco last month, Jack Lee of Foxconn was asked why the heavily Western audience should be intrigued by the spread of blockchain technology and research in East Asia.
“[In] Asia, [it] is easier to adopt new technology than here,” he said.
Although regulatory issues in China can sometimes slow the adoption of certain fields, Lee stated quite plainly that the status of blockchain in Asia today is similar to that of the internet in the ’70s; that is, there is nowhere to go but up.
Several prominent blockchain entrepreneurs from East Asia formed a panel at Distributed 2018, bringing in multiple perspectives to show the potential that this region has for investment and growth. Moderated by Bianca Chen, who covers global financial markets with Thomson Reuters, Lee’s experience with financial technology in China was bolstered by Emi Yoshikawa and the experience she has gained in the Japanese enterprise blockchain industry, as well as Remington Ong’s Shanghai-based venture capital expertise. The four of them brought in a staggering amount of insight into all of the potential spheres that distributed ledger technology could overtake in the region, dissecting the pros and cons of integrating with different industries and issues around national regulations.
The full discussion is packed with information, serving both as a beginner’s guide and a stimulating conversation for blockchain technology aficionados. It can be found, along with a number of other interesting panels, on Distributed’s YouTube channel.
ETH-USD failed to break overhead resistance in the $160 range. This coincided with a failed retest of the supply and demand channel as the market saw a strongly overbought condition.
We are currently stuck between support and resistance, but it seems very likely that we will see a retest of the low $90s before any potential bullish pressure hits the markets. If, for whatever reason, we begin to rally, we need to see a decisive, strong close above the $160 level before any macro-trend-changing behavior is seen.
Bitfury, a developer of blockchain-based hardware and software products, has announced a new initiative: Bitfury Surround. The project aims to build an open-source platform that streamlines operations in the music entertainment industry.