Anndy Lian’s Comments Quoted “DeFI as an open financial ecosystem where you can build various small financial tools and services in a decentralized manner.”- Associated Press

Thanks for taking my comments BitBerry. I got to know about this wallet from UpBit in their early days. Glad to see that they are moving along with the times and working with new partners to expand their business.

Anndy Lian, a DeFI expert and also a Member of Gyeongsangbuk-do Blockchain Special Committee, Government of the Republic of Korea added:

“I am a user of BitBerry and I do see the importance for their wallet to move with the times and embrace DeFI. DeFI as an open financial ecosystem where you can build various small financial tools and services in a decentralized manner. Thanks to their existing framework, BitBerry’s non-custodial nature can let users safely store their own funds without having to rely on third-party institutions to hold their assets. And by partnering with OKEx and listing OKB to their wallet, this has opened up new opportunities for the current users.”



BitBerry Signs MOU with OKEx, a world-leading cryptocurrency spot and derivatives exchange


South Korea, Seoul — BitBerry signs MOU with OKEx, a world-leading cryptocurrency spot and derivatives exchange to work together in the cryptocurrency industry. On the signed document, both parties agree to help each other in the markets that they are active in and also look at listing OKB onto BitBerry’s wallet.

BitBerry, founded in 2016 is a leading cryptocurrency wallet in South Korea with over 100,000 users. They aim to make money transfer simple, easy and secure globally based on blockchain technology.  While, OKEx is a world-leading cryptocurrency spot and derivatives exchange, offering the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks.

The community members from BitBerry who heard of the plans to include OKB into their wallets spark new excitement in the forum. OKB is a globally available ERC-20 utility token issued by the OK Blockchain Foundation that gives users of the OKEx trading platform various exclusive benefits. OKEx also has a buy-back and burn program for OKB tokens, whereby 30% of spot trading fee income is allocated to acquiring OKB from the secondary market each quarter. In terms of performance, OKB posted gains of 287.96% in 2019 and according to date from CoinGecko, OKB topped the list of the 30 digital cash in the first quarter of 2020, with a 148% increase. A crypto analytics firm  Messari, the annual return on investment of OKB is as high as 62%, which is far above the industry average.

Jae Bum Yoo, CEO of BitBerry said: “Having OKB listed on our wallet is a gateway for our platform to grow globally. OKB is a top 20 coin according to and, we want our users to be exposed to coins and products ranging from DeFI, payments and security to cryptocurrency trading bots that come together with the OKB ecosystem. This will be win-win-win for all parties. We will work hard to make it happen earlier for our users.”

BitBerry has more than 100,000 users on their platform currently and many of the users are also keen to know more about OKB and experience DeFI services that comes in the ecosystem. For example, once the integration and listing of OKB is completed on BitBerry, OKB now can be used as  collateral in C2C loans  on OKEx. Users can borrow USDT by pledging OKB without incurring any service fees and take advantage of the minimum interest on borrowing, which is as little as 0.01% per day.

Connecting Wallet to DeFI

DeFI or commonly known as decentralized finance refers to financial services, including lending, exchanges, investment, stablecoins, and more, is currently the buzz word in the cryptocurrency space. Financial services are bounded by smart contracts, which are automated enforceable agreements that do not require intermediaries like a bank or lawyer and use online blockchain technology instead.

BitBerry is ready for this space and it is ideal integrating their wallet to OKEx’s full suite of trading products for on DEX such as Uniswap. Anndy Lian, a DeFI expert and also a Member of Gyeongsangbuk-do Blockchain Special Committee, Government of the Republic of Korea added: “I am a user of BitBerry and I do see the importance for their wallet to move with the times and embrace DeFI. DeFI as an open financial ecosystem where you can build various small financial tools and services in a decentralized manner. Thanks to their existing framework, BitBerry’s non-custodial nature can let users safely store their own funds without having to rely on third-party institutions to hold their assets. And by partnering with OKEx and listing OKB to their wallet, this has opened up new opportunities for the current users.”

Planting Seeds for Regional Growth

While BitBerry is a known brand in South Korea, they allow users to transfer money via phone numbers by issuing a unique address based on the unique phone number. The login process is simple and authentication can be triggered using KakaoTalk or fingerprint recognition via Kakao Pay. The strong case study in South Korea gave them more confidence in the regional market.

BitBerry’s sales and marketing spokesperson also highlighted that they are already working with more corporate clients regionally who want to utilize BitBerry’s technology for retail and other commercial purposes. They are continuing its efforts to move beyond its shores into South East Asia such as Singapore, Malaysia, Thailand and Philippines as their next target markets. The regional growth plans will expand more effectively with the help of the MOU with OKEx.


About BitBerry (

Founded in 2016 is a leading cryptocurrency wallet in South Korea with over 100,000 users. BitBerry aims to make money transfer simple, easy and secure globally based on blockchain technology. MonsterCube is the owner of BitBerry and also SODAcoin that is already listed on Bithumb.


About OKEx (

A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks.


Press Contact

Name: Jenny Zheng

Title: Editor






j j j

Featured on Startup India Magazine: Keynote Speech by Anndy Lian: “Navigating Blockchain & Cryptocurrency in the Public Sector”

Thanks, Startup India Magazine Team for featuring my keynote speech on “Navigating Blockchain & Cryptocurrency in the Public Sector”.

Keynote Speech by Anndy Lian: “Navigating Blockchain & Cryptocurrency in the Public Sector”

Anndy Lian, Advisory Board Member of Hyundai DAC Technology gives a keynote speech at the Digital Week Online on the topic “Navigating blockchain & cryptocurrency in the public sector”. Digital Week Online is an online Summit held from 12-16th October 2020. This event unites tech entrepreneurs, authors, investors, innovators, leading corporates, and key governments

At his keynote speech, Anndy shares his experiences on how to deal with the different governments while introducing blockchain and cryptocurrency in the most effective manner. He started by giving a quick overview. Stating that the blockchain technology is possibly one of the finest piece of art when it comes to this century. In simple words, this technology is a decentralized ledger and it is immutable, with core functions like traceability and tracking. It is and will be widely used in finance, manufacturing, supply chain and governments. But it has not welcomed by all especially when it comes to cryptocurrencies, in fact, cryptocurrencies have been denounced by several governments due to a number of reasons. For example, Bitcoin, the leading cryptocurrency, has been banned in some countries, including Nepal, Bangladesh, among others. Many other countries have in the past made it clear that they will not accept Bitcoin but will accept blockchain technology.

“This is a good start for governments. For those who are currently dealing with governments or intend to participate in a public sector bid, please bear in mind that you need to address what is lacking and what can blockchain help them solve and not pure fluff.” Anndy Lian explained.

Anndy emphasises that governments are open to the technology so far based on his experiences on the ground when dealing with them. He goes on saying that food security, ID management and controlling the flow of money are some of the “hot” topics. Countries like Singapore, Estonia, South Korea are already embarking their journey to solve problems using blockchain technology together with their existing infrastructures.

Navigating through the public sectors needs time and determination. Businesses must be ready before speaking to the government to sell their products and solutions. They need to build themselves up properly by building up trust and increase credibility through partnerships and with sufficient marketing. Your brand has to gain some traction before approaching them for any form of business. Anndy went on by highlighting that all these are only made possible if the solution providers are backed by real, solid technology that is robust enough to tackle their demand. He has also noted that many of the startup blockchain companies depended on advisors and consultants to make their sales and introduction. He cautioned again that companies must choose wisely and not deceived by their smooth talks as many of them do not have any real experience in the tech field and have not gotten deep in the blockchain space.

Last but not least, he told all to be “Pragmatic”. Only being real and practical will open up new paths for you.

Anndy Lian’s is known for his advisory work for governments. He plays a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region. He advises the Secretariat on the latest concepts and applications of blockchain technologies in cybersecurity and IoT network data integrity across smart factories and upskills the Secretariat staff in blockchain technologies as applicable to productivity. APO members include Bangladesh, Cambodia, Republic of China, Fiji, Hong Kong, India, Indonesia, Islamic Republic of Iran, Japan, Republic of Korea, Lao PDR, Malaysia, Mongolia, Nepal, Pakistan, Philippines, Singapore, Sri Lanka, Thailand, and Vietnam.

He is also part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce (Chairman, Bitcoin Foundation) and Alexis Sirkia (Founder of, helping the province to grow using blockchain technologies.

To know more about what Anndy Lian is doing, you can visit or on his social media channels, and You can also view his keynote speech at


Media Contacts:

Name: Jenny Zheng

Title: Editor






Related Links:

Keynote Speech by Anndy Lian: “Navigating Blockchain & Cryptocurrency in the Public Sector”

Keynote Speech “Navigating blockchain & cryptocurrency in the public sector” by Anndy Lian at Digital Week Online 2020

Keynote Speech on “Navigating blockchain & cryptocurrency in the public sector” by Anndy Lian, Advisory Board Member of Hyundai DAC Technology


j j j

Anndy Lian believes DeFi will also result in more and more bitcoins being locked up, “which will bring another bull market for bitcoin.”

Anndy Lian’s comments were featured on CryptoNews on 27 September 2020. He believes that DeFi will also result in more and more bitcoins being locked up, “which will bring another bull market for bitcoin.”

“This inter-related relationship between Bitcoin and Defi works hand in hand with the demand as seen in the market. The breakout trend in Defi for 2020 will continue. New terms will supersede “Yield Farming”  and a more stable environment will be established as you see the bigger exchanges like Binance, Gemini, Huobi and Okex taking the lead.” Anndy Lian added.

Read more about the article on Google News:




‘If DeFi Collapsed, Bitcoin Would Still Be Bitcoin’


  • The core driver of DeFi is its use case, not Bitcoin.
  • “BTC is money, DeFi is banks, that’s how people should think about it.”
‘If DeFi Collapsed, Bitcoin Would Still Be Bitcoin’ 101
Source: Adobe/golibtolibov

Bitcoin (BTC) and DeFi both had a good summer. After the coronavirus-induced collapse of March, the price of bitcoin rose from USD 3,500 to just over USD 12,000 in August, while the total value locked into DeFi platforms rose from USD 1bn in June to almost USD 12bn in late September.

It’s tempting to view the performances of bitcoin and DeFi as connected. Given that the supply of wrapped bitcoin has ballooned from wBTC 500 to almost wBTC 90,000 in the past 12 months, it would seem that bitcoin holders have been driving the growth of DeFi.

However, industry figures speaking to said that, while BTC has been a significant player in DeFi’s growth, its importance within the DeFi ecosystem will wane over time. And while some may be tempted to regard Bitcoin and DeFi as interdependent, most commenters believe that each can survive without the other.

Bitcoin boosts DeFi

There’s little doubt that bitcoin — and in particular wrapped bitcoin — has spurred at least a portion of DeFi’s impressive growth over the past few months – USD 1.4bn worth of BTC is locked in DeFi today, or almost 13% of total value locked (TVL) in decentralized finance projects.

As data from Defi Pulse indicates, the demand for wBTC began rising exponentially from the end of June onwards.

‘If DeFi Collapsed, Bitcoin Would Still Be Bitcoin’ 102

And data also indicates, it was around the end of June that TVL into DeFi platforms suddenly began rising more strongly, as ethereum (ETH) locked in DeFi jumped also this past summer.

‘If DeFi Collapsed, Bitcoin Would Still Be Bitcoin’ 103

Industry figures agree that the two trends are connected, even if they have their own opinions on how long the interconnection may continue.

“Yes, I think the use of wBTC pair mining will boost the Defi market to a certain extent,” said crypto advisor and author Anndy Lian.

“According to the data released today (the second day of Uniswap Liquidity Mining), 50% of the miners used the wBTC/ETH pair in the initial mining, and most of them are big whales.”

Analyst and CryptoMondays Partner Lou Kerner suggested that bitcoin will remain an important part of DeFi in the medium term, not least because it still accounts for over half of the total value of all cryptoassets.

“Given its scale, bitcoin will be an increasingly significant asset in DeFi. But over time, as real world assets are tokenized and enter DeFi, bitcoin relevance will decrease,” he told

However, while BTC has played a role in DeFi’s recent growth, ADVFN CEO Clem Chambers doesn’t see it as the main factor.

“Bitcoin will influence DeFi but it is not the core driver. The core driver is the powerful use case,” he said.

DeFi boosts BTC

Conversely, commenters agree that DeFi is boosting BTC, or that it will in the near future. By offering the chance to earn an additional return on the bitcoin you own, DeFi’s liquidity mining and yield farming is making BTC seem even more attractive to investors, particularly during a period of reduced economic opportunity.

“DeFi has made BTC even more attractive as an investment,” according to Kerner.

That said, Chambers estimated that most of DeFi’s boost to BTC still awaits us in the future.

“It will [boost bitcoin] but not yet. DeFi is still underground with only the core early adopters ‘getting it’,” he said.

Aside from enhancing the returns offered by bitcoin, Anndy Liang pointed out that DeFi will also result in more and more bitcoins being locked up, “which will bring another bull market for bitcoin.”

Mutual aid, not mutual interdependence

While DeFi and bitcoin both help each other in various ways, commentators seem that they don’t believe that each needs the other to survive.

“Bitcoin crashing would certainly slow the growth of DeFi, but one is not dependent on the other,” said Kerner.

Likewise, if DeFi were to somehow collapse, Interlapse CEO and Co-founder Wayne Chen said that BTC would continue as before.


“Bitcoin has seen massive growth over the past decade and will certainly continue its momentum,” he told “If DeFi collapsed, Bitcoin would still be Bitcoin and continue its growth and adoption.”

On the other hand, some think that bitcoin crashing would have a severe effect on DeFi, since even if parts of the DeFi ecosystem survived, altcoins would struggle.

“Most of the ‘value’ coins will go to zero if the price of bitcoin crashed significantly or collapsed,” suggested Lian. “One thing is for sure: no coin (maybe tiny s***coins can) can survive if bitcoin collapses.”

The future: parallel, not pivotal

As for the more distant future, some experts believe that DeFi and Bitcoin will increasingly operate in parallel, rather than remain interlinked.

“BTC is money, DeFi is banks, that’s how people should think about it. The linkage is parallel not pivotal,” argued Chambers.

Chen claims that it’s in the interests of DeFi and Bitcoin that each maintains a degree of independence from the other in the future.

“Industry professionals will likely try to interrelate DeFi and Bitcoin. However, this needs to be done cautiously so that it doesn’t turn into a complicated financial product which can ultimately confuse the market,” he said.

Anndy Lian isn’t completely sure that DeFi will be around in several years’ time. However, if it is, he said there’s a chance other cryptoassets could emerge to reduce BTC’s influence on DeFi.

“But personally I do hope to see new players coming into challenge Bitcoin’s supremacy,” he said. “With challenges, there are improvements. This is what’s lacking in today’s crypto space.”



Original Source:



j j j

Anndy Lian Commented on “Banking Giants Laundering Billions Might Turn Against Bitcoin Too” at CryptoNews

Banking Giants Laundering Billions Might Turn Against Bitcoin Too

Documents uncovered by an investigation conducted by 110 news organizations appear to show global banking giants moving trillions of dollars for clients allegedly involved in fraud, embezzlement, money laundering, and more, as the banks defend themselves against the allegations. Meanwhile, the crypto community appears to be divided as to whether it spells good news for crypto in general, and bitcoin (BTC) in particular. (Updated at 17:45 UTC: updates in bold.)

The evidence was uncovered by the International Consortium of Investigative Journalists (ICIJ) in a new report. The consortium said that it, together with BuzzFeed News and 108 other media organization, conducted a 16-month, cross-border investigation, and revealed the leaked documents, now known as the FinCenFiles.

The consortium wrote that “secret United States government documents reveal” that global banks “have defied money laundering crackdowns by moving staggering sums of illicit cash for shadowy characters and criminal networks.” The five named banks are JPMorganHSBCStandard Chartered BankDeutsche Bank and Bank of New York Mellon.

Furthermore, the leaked documents allegedly “show banks blindly moving cash through their accounts for people they can’t identify, failing to report transactions with all the hallmarks of money laundering until years after the fact, even doing business with clients enmeshed in financial frauds and public corruption scandals.”

These files, the authors said, include more than 2,100 suspicious activity reports (SARs) filed by banks and other financial firms with the United States Department of Treasury’s Financial Crimes Enforcement Network, also known as FinCEN.

ICIJ said:

“[The] documents identify more than [USD] 2 trillion in transactions between 1999 and 2017 that were flagged by financial institutions’ internal compliance officers as possible money laundering or other criminal activity — including [USD] 514 billion at JPMorgan and [USD] 1.3 trillion at Deutsche Bank. […] The FinCEN Files represent less than 0.02% of the more than 12 million suspicious activity reports that financial institutions filed with FinCEN between 2011 and 2017.”

ICIJ added that United States agencies responsible for enforcing money-laundering laws rarely prosecute megabanks that break the law, “and the actions authorities do take barely ripple the flood of plundered money that washes through the international financial system.”

Per the authors, the data shows that Deutsche Bank is leading by some distance, with JPMorgan in second place.

“Mobsters pushed billions through Deutsche Bank in one of the biggest dirty money scams ever,” tweeted BuzzFeed News, adding that “small businesses were crushed” in the process.

The news outlet further claimed that the bank’s executives “had direct knowledge for years of serious failings that left the bank vulnerable to money launderers.” After a USD 10 billion mirror trading scandal was exposed, “Deutsche Bank blamed it on a few middle-level staffers in its Moscow office, paid a fine, and got back to business,” reported BuzzFeed News.

Crypto as a systemic threat

News of the traditional banking system’s alleged wrongdoings came as little surprise to the crypto community.

And the irony of the situation was not lost on many commentators: While regulators ramp up the pressure on the crypto industry, particularly in the field of anti-money laundering (AML) measures, the banking sector appears to be running roughshod over the very same AML rules.

Commenting on a report on HSBC’s drop to a 25-year low today in the stock market, the CEO of crypto exchange Binance, Changpeng Zhao, tweeted that it “might be a good time for their treasury to buy bitcoin?”

However, Anndy Lian, investor and blockchain adviser, didn’t agree that this was a good idea, writing: “On the contrary, I hope HSBC to stay away from bitcoin. Early stages mess the soup.”

Others, like the Chief Legal Officer of crypto exchange Kraken, Marco Santori, also claimed that this will not help Bitcoin’s cause at all.

“If you think this is good for bitcoin, man you are going to be so disappointed,” he said. “I wonder if this will compel FinCEN to publish more information about the efficacy of its enforcement activity. It would serve to quell many complaints to the tune of “Why do we send all this info to FinCEN – what good has it done?”

Others, like GetLevvel CEO Chris Hart, also chimed in saying that there is a risk that “the answer to a perception of poor enforcement is more enforcement, and ‘more’ isn’t limited to fiat-based transactions.”

Bitcoin educator, author, and entrepreneur Andreas Antonopoulos also stressed that this leak will be used against cryptocurrencies. According to him, the correct analysis of this news is that AML/CTF (counter terrorism financing) and KYC (know your customer) don’t work and the report will be used to increase the use of controls and surveillance.


“That makes crypto-currency a systemic threat, not to the economic nature of national money, but to the control and surveillance system of geopolitical money. Math money doesn’t play politics, which makes it automatically “rogue” money,” he said, estimating that “the war on cash and the war on “illicit” money becomes an all out war on the only money that still works.”

According to him, “the solution is to stop trying to use money (a tool) to fight crime (human nature).”

“But if you think the hypocrites will back down and adopt sensible systems and laws that enable human trade and economic inclusion, you are wrong,” Antonopoulos said.


Banks respond

“BNY Mellon takes its role in protecting the integrity of the global financial system seriously, including filing Suspicious Activity Reports (SARs),” told Associate Director for Corporate Communications Sorrel Beynon, adding that they “fully comply with all applicable laws and regulations, and assist authorities in the important work they do.” The bank cannot by law, they claim, “comment on any alleged SAR we may have filed or that may have been illegally disclosed by third parties to the media.”

Deutsche Bank’s Head of UK Media Relations, Charlie Olivier, told that the fight against financial crime, money laundering and capital flight has been a priority for both investigating authorities and financial institutions, the latter of which, Deutsche Bank included, have invested “billions of dollars” to more support authorities in this effort. “Naturally, this leads to increased detection levels.”

Olivier stated that “the ICIJ has reported on a number of historic issues,” claiming that “those relating to Deutsche Bank are well known to our regulators.”

“The issues have already been investigated and led to regulatory resolutions in which the bank’s cooperation and remediation was publicly recognized. Where necessary and appropriate, consequence management was applied. To the extent that information referenced by the ICIJ is derived from SARs, it should be noted that this is information that is pro-actively identified and submitted by banks to governments pursuant to the law. SARs are alerts of potential issues, not proven facts,” he said.

Per the statement provided by Standard Chartered Group Media Relations Director, Josephine Wong, to, SARs are filed by the banks “when circumstances warrant and that means our screening and monitoring systems are working as intended.” A SAR filing does not mean there has been criminal activity, but that the bank has identified “something suspicious or irregular in a transaction that meets the filing requirements in the local market,” which is then reported to law enforcement “so they can investigate and, if they see fit, take further action.”

“The reality is that there will always be attempts to launder money and evade sanctions; the responsibility of banks is to build effective screening and monitoring programs to protect the global financial system,” said Wong, adding that in 2019 Standard Chartered “monitored more than 1.2 billion transactions for potential suspicious activity and screened more than 157 million for sanctions compliance.”

JPMorgan declined to comment. We contacted HSBC as well, and will update should they reply.




j j j

Anndy Lian To Moderate at the CABA ASEAN Summit 2020 on Technology Adoption & Investment Trends

Anndy Lian, Advisory Board Member of Hyundai DAC will moderate a Panel Discussion at the CABA ASEAN Summit 2020 on 16 September 2020. Together with the panellists, they will be talking about technology adoption & investment trends and in particular on artificial intelligence and deep tech.

We will cover the following topics:

> Transformation of business technology – Opportunities, risks, and solutions
> Liability for artificial intelligence – Who is responsible
> Playing catch up – Regulation vs technology: The legal issues
> Creations and inventions by artificial intelligenceWho owns them?
> Ethical artificial intelligence – How do you prevent artificial intelligence from being misused?

You will also be hearing from:
> Dr Andrew Wu, Founder & Chief Executive Officer, Meshbio Pte Ltd
> Sheeram Iyer, Chief Executive Officer & Founder, Prisma Global
> Stephen Ho, Group Chief Operating Officer, Skylab Group

6th RHT CABA ASEAN Summit, with the overarching theme of “ASEAN – Dynamic Capabilities” delivered on a hybrid format on 15-16
September 2020, from 10am to 1:30pm.

This year, we are introducing a new component to the Summit centred on the China-ASEAN Business Alliance (CABA), a platform to promote business ties and collaboration for the China and ASEAN region. A series of insightful CABA forums will be held in the lead up to the Summit.

In 2020, Covid-19 wreaks havoc in all aspects of our lives globally. The health of the world’s population, economy and environment takes centre stage as organisations grapple with an increasingly volatile, uncertain, complex and ambiguous environment. The Summit’s focus on harnessing dynamic capabilities aims to deliver insights that will help businesses and organisations thrive during challenging times. The specially curated programme will dive into sustainability and the environment, healthcare, technology and intelligence. Up to 250 C-Suite Executives, ASEAN business leaders and industry professionals from various economic sectors are expected to attend. Past summits have also attracted the attendance of the diplomatic community and numerous Ministers as the guest-of-honour.

Join them on this 2 days conference,  Minister Edwin Tong, Minister for Culture, Community and Youth and Second Minister for Law will also deliver his keynote speech.

j j j

Anndy Lian Speaks to Bobby Ong, co-founder of CoinGecko on Blockchain, Cryptocurrencies, DeFi & beyond Dear Bobby, this is Anndy Lian, I am a governmental blockchain advisor, book author and most recent Board Member of Hyundai DAC. We have in fact met very briefly in Malaysia during one of your meet-up. Good to hear from you again, can you give an introduction of yourself?

Bobby: Sure! I’m the co-founder of CoinGecko, an analytics platform for tracking cryptocurrencies and blockchain assets. CoinGecko was established in April 2014 and is the largest cryptocurrency data aggregator in the world.

CoinGecko provides comprehensive information derived from thousands of data points such as price, trading volume, market capitalization, developer strength, community statistics, and more. We currently track over 7,000 tokens from more than 400 exchanges. Tell us how you started CoinGecko?

Bobby: I met my co-founder, TM Lee in 2013. We were both interested in Bitcoin and were trading some alternative cryptocurrencies. We wanted some additional data such as community and developer data that was not available anywhere else. We decided to track these data on a website and make these data available for other people as well. This was how CoinGecko got started. What is your vision and mission for CoinGecko? What do you aim to
achieve in the long run?

Bobby: Our mission is to empower the cryptocurrency community with a 360-degree overview of the crypto market. We believe that in the future, anything of value that can be tokenized will be tokenized. We are building the infrastructure needed to track this decentralized future where we will have millions of tokens trading in the world and we aim to help traders get the relevant information for these tokens. I have openly commented on how the metrics do not work well in today’s context where many of the projects/ exchanges washed their trades. How do you see this? How can this be improved?

Bobby: Yes, we used to sort exchanges by trading volume. However, by early-2019, we started noticing that many exchanges were conducting wash trading and faking their trading volume numbers to appear larger and more liquid than what they actually are. We were not happy that the results for exchanges were no longer accurate and felt a deep responsibility to our users not to divert them to these small exchanges faking their volume.

Thus in May 2019, we introduced an algorithm to rank exchanges called Trust Score. This algorithm looks at multiple metrics for exchanges such as bid/ask spread, orderbook depth, web traffic estimate, exchange API quality, AML/KYC compliance and cybersecurity practices to give a holistic overview of each exchange’s quality. Exchanges are graded on a 1-10 scale and many of the exchanges conducting wash trading were no longer ranked at the top on CoinGecko. How is your ranking metrics compared to other similar platforms?

Bobby: We were the first crypto data aggregator to move away from ranking exchanges using trading volume. We saw how this metric had been manipulated by many non-regulated exchanges and introduced Trust Score to look at other liquidity based metrics.

Our metrics take into account several factors mentioned above such that it is holistic and robust. It does not use anyone single factor that can be easily manipulated by exchanges. We are also constantly looking to improve Trust Score and have done a few improvements since our launch. Will there be a chance that CoinGecko will transform into a wallet or an exchange? If no, will the group most likely to invest indirectly into the ecosystem?

Bobby: We view wallets and exchanges as our partners and have no plans to offer either of the above services for the time being.

If there are interesting opportunities to invest, we may consider it on a personal capacity as CoinGecko does not currently invest in any companies directly. What is your personal opinion of the blockchain and crypto industry? What is the future like?

Bobby: We view the blockchain and crypto industry as a multi-decade growth industry similar to how the Internet industry was in the early-1990s. There are tremendous opportunities offered in this space. It is still very hard for the average person to use crypto apps and as these apps get easier, faster, cheaper to use, it is expected that the mainstream audience will start using them and fuel growth in the years to come.

Blockchain and crypto industry offers permissionless innovation and there will be many interesting protocols and applications launched in the future. We view a future where there will be millions of tokens and we are building the foundation needed to support this future. How do you see Bitcoin, do you think Bitcoin will go to a value of $100,000 per coin like some said?

Bobby: Yes, I don’t see why Bitcoin will not go to $100,000 in the next few bull runs. Can’t tell when but eventually in the future. Bitcoin’s price is highly speculative by nature. Apart from Bitcoin, can you name 5 more coins that you see huge potential?

Bobby: I am particularly interested in seeing how Ethereum will perform as most of the innovations are coming on top of the Ethereum platform such as Decentralized Finance.
I am also interested to see how exchange tokens such as Binance Coin perform. Will it evolve from a fee-burn model or convert into some sort of governance model in the future.
I am also paying some attention to governance tokens such as Maker, Kyber and Compound. These governance token models will probably be something that will be adopted by many token teams in the future. Please share an inspiring quote for our readers.

Bobby: I like this quote by Tony Fernandes, CEO of AirAsia:

“Believe the unbelievable, dream the impossible and never take no for an answer.” Tan Sri Dr. Fernades is indeed an inspiring legend in the South East Asia Market. I have the honour to meet him in Singapore over dinner many years ago. He is an industry changer. Thanks for your time Bobby. Your insights are great. Keep up the good work for the crypto industry. 




Original Source:

j j j

Anndy Lian to Speak at RHT RMF GAIL Sustainability Forum 2020

I will speak at the RHT RMF GAIL Sustainability Forum, happening online on 28 August 2020 on Sustainability & Blockchain. Ms Grace Fu, Minister for Sustainability and the Environment will be Guest-of-Honour and the Keynote Speaker for the virtual forum. See you later this week.

Many companies are under the microscope for struggling to prioritise sustainability in their business and operational strategies. Being at the forefront of sustainability is not only about excelling at compliance and reputation building, finding market opportunities, and meeting growing consumer interest in sustainable practices.

At the heart of sustainability leadership and development in every organisation is a culture that creates a lasting, tangible impact on our society. But what are the top business practices that are shaping corporate sustainability and reaching its targets today? Learn about these determinants and more at the RHT RMF GAIL Sustainability Forum, happening online on 28 August 2020, Friday 2:15pm to 5:15pm.


j j j

Quick AMA with Anndy Lian on DeFi at Asia Blockchain Community Thanks for the time everyone. Today at Asia Blockchain Community, we want to answer some of your questions on DeFi since we have several AMAs in the past one month. Drop your questions now.

Anndy Lian will try to answer them. Anndy Lian is an intergovernmental blockchain advisor. His latest appointment is the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group where he looks after the governance and compliance aspects of the business. Hi Anndy. 

Anndy Lian: Thanks, sorry I had limited time today. I will try to take on 3-5 questions.



Questions from the channel ( 

Shuja Hashmi, [14.08.20 19:43]
DeFi is one of the hottest topics in the blockchain space right now. Do you think DeFi will disrupt the existing financial system?

What are your expectations in the future implementation of the Blockchain Technology? In what way will the average person be influenced by Blockchain?

Jack ♥️♥️♥️, [14.08.20 19:43]
What is the transparent part of the token

Jack ♥️♥️♥️, [14.08.20 19:44]
Can we stake credit and the other token ??

Abid Rana, [14.08.20 19:44]
Defi is taking the market, are not people running behind making their investments double instead of solving real-world problems?

❤❤❤Momma Apple💛💛💛, [14.08.20 19:44]
Give Insights on DeFi market and future opportunities.

Jenny Zheng, [14.08.20 19:45]
Guys, Q&A will not be relating to PROXI, can ask anything relating DEFI

Jack ♥️♥️♥️, [14.08.20 19:45]
What major part will solve it DEfi ? What is ETH difference with this

Jack ♥️♥️♥️, [14.08.20 19:45]
Is Defi is full transparency and full secure..?

♥ #Ms khate 💛👈, [14.08.20 19:46]
With the emergence of new cryptocurrencies, utility tokens what can #defi project offer to the investors and coin holders in terms of the sustainability and stability of this platform?

Jenny Zheng, [14.08.20 19:46]
we will close the floor till 19:50 🙂 then Mr. Anndy will start to answer

Jack ♥️♥️♥️, [14.08.20 19:46]
How Defi can impress new investors in Cryptocurrency?

♥ #Ms khate 💛👈, [14.08.20 19:47]
How does #defi project provide real-world data to smart contracts?

Jack ♥️♥️♥️, [14.08.20 19:47]
Did Defi is good in a real lifetime,?

❤❤❤Momma Apple💛💛💛, [14.08.20 19:47]
Give Insights on DeFi market and future opportunities.

Shuja Hashmi, [14.08.20 19:47]
What is future Of DeFi project’s after YAM Scam? How average person will gonna Trust on DeFi Projects?

Venkatz K, [14.08.20 19:47]
Is De-Fi is fully Structured or still runs on Trial and Error Method?

Jack ♥️♥️♥️, [14.08.20 19:48]
How Defi can maintain their success? Or it will go down?

♥ #Ms khate 💛👈, [14.08.20 19:48]
Community support is by far one of the biggest factors for the success of a project.
What has the team #defi has planned on increasing the user experience?
How can the community get involved and be a part of your projects?

Abid Rana, [14.08.20 19:48]
#Defi is everywhere, in fact, taking over the whole market which is already in its evolution stage. New people scamming using the defi projects, what do you think will not hurt already shaking the reputation of crypto as it is very easy to be used for terrorist activities

Jack ♥️♥️♥️, [14.08.20 19:49]
Are there big Communities of Defi or small community of every Defi project?

Jenny Zheng, [14.08.20 19:49]
1 more minute 🙂

Jack ♥️♥️♥️, [14.08.20 19:49]
Defi can change real life of people’s to help like in Fiat market?

Jack ♥️♥️♥️, [14.08.20 19:50]
What inspired you about Defi??

Jenny Zheng, [14.08.20 19:50]
floor will be closed

❤❤❤Momma Apple💛💛💛, [14.08.20 19:50]
Q. What are the benefits of Defi project in everyday usage i? How effective will they be if there is a market crush and why?

Jenny Zheng, [14.08.20 19:50]
Mr. Anndy you can start to answer

♥ #Ms khate 💛👈, [14.08.20 19:50]
What was the value of tron in market cap haha

Jenny Zheng, [14.08.20 19:51]



— Replies —

Question 1: Shuja Hashmi: 

DeFi is a relatively new item and some say it is a fad. But to me, DeFi is giving us a new future to handle finance. So let’s not be unheartened by YAM and give a bad name to the whole DeFi market.

Anndy Lian: 
Whether YAM is a pure error or they do it on purpose, I don’t know. But I do know that if a project pumps too high in a short time, this is not sustainable.

An average person should not invest in DeFi. They should know what is DeFi before putting their hard earned money into it.

Right now it is the bull market (in my own opinion), we need to manage the risk properly. We should not overleverage ourselves and believe that a token could be pumped to 1000% returns.

So if we control our greed, then we will most likely fall into the trap of fake DeFi.



Question 2: Jack

Defi can change real life of people’s to help like in Fiat market?

This is a double-edged sword.

Anndy Lian:
While many complained about fiat, many love fiat because they know how to navigate in the financial system.

So for a straight forward answer: Yes DeFi will change our lives. CeFi and DeFi are complementary to each other.

So in order for DeFi to make it big, we need more decent projects, better people running them and not let history repeats itself by allowing the traditional banking people to ruin this again.



Question 3: Mahathi

What about JUSTSwap?

Anndy Lian:
In one of the article where the editor asked for my opinion, I said that ETH is taking the lead and all others are chasing his tail.

This is still the case.

But Tron and its ecosystem may be able to change some of the Defi problems that we are facing right now. Gas fees

If you are into Uniswap and all, you will notice that the gas fees are very high right now.

Well many of us are able to pay it since the possible returns are high enough to cover the cost.


I cannot accept the fact that when I pay a high gas fee and the transaction still fail.

Imagine each transaction fail will means that we pay around $5 for a fail transaction.

It is not right to charge for fail transactions.

And since it takes time, we lose gas fees and also opportunity cost.

This is a double loss for many of us.

So I do hope to see JUSTswap making a difference in it Thanks, Anndy for his time. Stay on Asia Blockchain Community to learn more about blockchain. See you soon. 


Original Source:


About Asia Blockchain Community (#ABC):
Asia Blockchain Community (ABC) is a community that is based in Asia and run by Asian. We know the market very well and is backed by panel of blockchain & crypto experts and influencers. Our mission is to create value for projects & members & educate the general public about blockchain and crypto through the work in our community.

About is a broadcasting news source for the blockchain community. Founded in South Korea and Singapore, Blockcast has a network of contributors in China, Hong Kong, South Korea, Singapore and Malaysia. We have helped global blockchain and cryptocurrency companies reach their marketing, public relations and advertising goals.



j j j

Interview with Anndy Lian on Crypto-Wednesday Episode 10

Asia is constantly breaking new ground in crypto, blockchain and FinTech and it is time to hear from experts with deep regional expertise. Thus, Crypto-Wednesdays is proud to feature a wide-ranging interview with internationally recognized business strategist and acclaimed author of “Blockchain Revolution 2030” – Anndy Lian.

Anndy has been involved in a multitude of initiatives and projects in Korea, Singapore, and beyond, including the Asian Productivity Association and Linfinity (the world’s first distributed supply chain platform). Anndy has incubated several startups and is an active/activist investor with a keen sense of the opportunities arising from deploying disruptive technologies in the world’s most vibrant and expansive economic space.

All this activity and thought leadership has drawn the international media’s attention and Anndy has become a frequent studio guest and cited expert.

So… what can Anndy tell us about how politics, investing, crypto and blockchain will play out in Asia in the epochal 2020s? Join us and find out.

Wednesday, August 19, 2020

5:30 AM Pacific Standard Time
8:30 AM Eastern Standard Time
2:30 PM Central European Time
8:30 PM Singapore Time



j j j

Blockchains are not Immutable, Nothing is 100% Secure

Thanks, Albert Arroyo at CapitalBay.News for quoting me in his report.

I have also added another comment on Twitter on the same topic:

Enjoy your read and read more updates at



Binance CEO and co-founder, Changpeng Zhao has said something that could be utterly shocking for a large number of supporters of blockchain technology. In a tweet, on Thursday, CZ said that blockchains are not immutable, and nothing is 100% secure. He added that it was better to be transparent about the risks rather than hiding them.

Binance CEO

For the most part of the last decade, blockchain and crypto companies boasted of being part of the immutable technology, and Binance is no exception. In fact, a great number of users entered the crypto-blockchain industry allured by the immutability and security that it promised. CZ defended his statement saying that he loves blockchain technology, to a point that he could dedicate all of his time and energy to it.

CZ Binance

CZ’s remarks came in reaction to a report which stated that a hacker netted more than $5 million in the Ethereum Classic 51% attack. He further said,

CZ said

CZ’s comments might not only affect the popularity of blockchain technology but also raise questions on the legitimacy of cryptocurrencies. Crypto proponents have kept raving about the fact that digital currencies are immutable, despite the numerous attacks on crypto exchanges and networks. Though the Binance chief’s remarks may ruffle a few feathers, the positive is that this could open a door to questioning and discussions, which could only benefit the users.

Anndy Lian, an inter-governmental blockchain advisor, also agreed with CZ and added that nothing is 100% secure when there’s human involvement. However, he added that blockchain increases the degree of immutability.





j j j

Anndy Lian Shares “Ethereum Will Remain The Dominant DeFi Platform: Analyst Opinion”

Thanks CoinGenius for covering my comments made in the earlier article on DeFi and Ethereum.

Ethereum Will Remain The Dominant DeFi Platform: Analyst Opinion

Ethereum will remain the dominant Defi platform despite the attempts of other blockchains such as TRON and EOS of trying to catch up. Most of the total value locked into DeFi is locked in Ethereum based platforms and it seems that things are going to stay this way as per the Ethereum latest news.

The industry observers believe that Ethereum will remain the dominant Defi platform because the growth among Defi enabling blockchains will come from other network effects as well as utility and capacity. With Ethereum boasting the first-mover advantage and the rapidly growing, it will be the best place to be for DeFi. ETH is by far the most dominant blockchain according to the data from the DeFi pulse, accounting for 90% and 99% of the total value locked in DeFi platforms. Looking at the data, all of the 36 Defi platforms are based on ETH and out of the 4 billion now locked into these 36 platforms.

According to industry observers, this dominance will come not so much from ETH being superior but from it being the first platform to move and gain a decent base. According to Anndy Lian, the Singapore-based crypto advisor:

 “Ethereum has the first-mover advantage, as it has had at previous times in crypto history, from taking the lead in ICOs [initial coin offerings] and smart contracts and now DeFi.”

Lian noted that Ethereum has the biggest market cap in crypto and is one of the best testing platforms for the industry so if it cannot make Defi work, no one can. A spokesperson for the Maker Foundation said that Ethereum’s current success lies with the fact that it was able to build upon the activity on the blockchain which attracts even more users and more activity:

 “Scope, size and amount of activity on Ethereum are critical factors driving the DeFi ecosystem.”

The Maker Foundation spokesperson suggested that other blockchains that can interoperate with the build on top of ETH have the chance of expanding their market share:

 “Chains that can easily integrate or build across Ethereum should be able to take advantage of that activity and grow with it by providing scale for DeFi apps.”

The market shares of EOS and TRON will go upwards in the upcoming months as per the EOS newsletter and Anndy Lian isn’t sure how fast this growth will be:

 “The market share is starting to spread but it will be slow. Ethereum will take the lead till 2021 on DeFi while the rest are playing catch up.”

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]



j j j








以太坊是目前占主导地位的DeFi区块链。从DeFi Pulse获取数据定义审查,它似乎占DeFi平台总价值的90%-99%。

看看DeFi Pulse,它跟踪的36个DeFi平台中除了一个以外,其他平台都基于以太坊(另一个是比特币(Bitcoin,BTC))。在目前锁定在这36个平台上的40亿美元中,除1150万美元外,其余都在以太坊上。


新加坡加密资产顾问兼作者Anndy Lian说:“以太坊拥有先行者优势,就像它在加密历史上的前几次一样,它在ICOs(首次发行硬币)和智能合约方面处于领先地位,现在又领先于DeFi。”








7月初,Tron创始人Justin Sun宣布启动三个Tron DeFi项目,其中包括一个“JUST Lend”信用平台。与此同时,EOS宣布与Bancor(BNT)合作,于4月份推出xNation平台。


Anndy Lian说:“市场份额开始扩大,但速度会很慢。以太坊将在DeFi上领先到2021年,而其他人都在追赶。”






虽然Ethererum 2.0应该会带来更高的效率,但它可能会落在应用程序上,通过跨链集成找到规模。





j j j