Blockchain 101: A Quick Brief To A Private Equity and Venture Capital Company

Blockchain 101: A Quick Brief To A Private Equity and Venture Capital Company

Blockchain is a type of DLT where transactions are recorded with an immutable cryptographic signature called a hash. The transactions are then grouped in blocks and each new block includes a hash of the previous one, chaining them together, hence why distributed ledgers are often called blockchains.

The consensus of blockchain is that all nodes maintain the same distributed ledger. In traditional software architecture, the consensus is hardly a problem due to the existence of the center server, hence the other nodes only need to be aligned with the server. Most blockchain projects use one of the three currently most common consensus algorithms: Proof of Work (PoW) and Proof of Stake (PoS).

Crypto wallets store your private keys, keeping your crypto safe and accessible. They also allow you to send, receive, and spend cryptocurrencies. As of February 2021, there are 82 cryptocurrency wallets available (Cryptowisser, 2021). They come in various forms and support different cryptocurrencies. The more popular wallets include Coinbase, Metamask, Token Pocket and more.

There are many popular coins/ tokens too. For example Bitcoin, Ethereum, BNB, XRP, Tether, Cardano, Polkadot, Stellar, USD Coin. Many of them have their own unique selling points and utility. A utility token is a crypto token that serves some use case within a specific ecosystem. These tokens allow users to perform some action on a certain network. A utility token is unique to its ecosystem.

The more talked about buzzwords in this industry is Web 3.0, Gamefi, Defi, Metaverse, Memecoin, Play to earn etc. If you don’t know, ETH is the second-largest cryptocurrency by market capitalization and is the preferred choice for DeFi projects. Blockchain game Axie İnfinity was the breakthrough of the year and got ahead of the most popular blockchain platform Ethereum in terms of revenue. SAND and MANA continue to be the taking the leader in the Metaverse market. As for Memecoin, Doge and Shiba are the leaders, while rising stars such as Babydogecoin, Kishu Inu, Dogelon, Xrdoge, Catecoin are still working hard to retain its current positions.

Bitcoin’s USP is either being a store of value, a medium of exchange or it can be dismissed as a fad. Maybe its true value is not just measurable in economic terms. Ethereum generates its value from how useful it is to its users. While BNB is strong and rising fast due to its willingness to incubate groom start-ups to grow and benefit together with them within the Binance ecosystem.

Blockchain has without a doubt created a lot of discussion as the next big thing, especially in the finance sector. It could be used to securely and efficiently transfer user data across platforms and systems. Blockchain-centric business models will present a seismic shift to how business is conducted in the future. Let’s explore and exchange more information on crypto. Sharing through sessions like this helps the general public understand more.

This Blockchain 101 briefing is conducted by Anndy Lian and hosted by Pavilion Capital. This is a session to share basic blockchain technology information. Not used for promotional activities. Non-financial advice.

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Anndy Lian Spoke at Economics Summit 2020, Future of Banking & Capital Markets: “CBDCs complement and not replace cash. Cryptocurrency recreates the future of finance.”

Anndy Lian Spoke at Economics Summit 2020, Future of Banking & Capital Markets: “CBDCs complement and not replace cash. Cryptocurrency recreates the future of finance.”

 

COVID19 has brought uncertainty to every sector. The financial industry has not been spared. There are vital concerns that are emerging for the Banking & Capital Markets. Economics Summit 2020, held on 2 November 2020, gathered a panel of industry experts to discuss current challenges and share future insights on the topic. Anndy Lian, one of the panelists, shared insights on Central Bank Digital Currencies (CBDC) and its form in the future.

The panel consists of Kent Choi (Team Leader, Credit Suisse), Yvonne Zhang (Director, Risk Advisory, Deloitte), Andrew Colquhoun (Executive Director, Monetary Authority of Singapore), and Anndy Lian (Advisory Board Member, Hyundai DAC) and moderated by Pau Khua Mung.

The topic of Central Bank Digital Currencies (CBDC) came up during the discussion. CBDC is known as a new type of currency that governments around the world are experimenting with. It is issued and controlled by the central bank is managed on a digital ledger or blockchain, the same technology that underpins cryptocurrencies such as bitcoin. CBDC also aims to expedite and increase the security of payments between banks, institutions, and individuals.

Andrew Colquhoun, MAS, mentioned that: “Digital currencies are a key area for MAS and central banks globally. Consensus views across different institutions show no immediate urgent use case for CBDC in this region. Many central banks are adopting a wait and see approach and still on a consultation basis.”

Further accelerating central banks’ considerations for the issuance of CBDC, Anndy Lian, Hyundai DAC added: “CBDCs are very early-stage and I believe CBDC is here to stay. CBDC is a form of digital fiat powered by blockchain for many, is traceable and accountable. It works 24/7, nonstop around the clock.” He also went on to clarify that CBDC is not a cryptocurrency. “We must be clear on this and not lumped this (CBDC) into the bucket of cryptocurrencies. There are also crypto companies looking at adding cryptocurrencies on top of CBDC and acting as a bridge. But this is a different concept.”

Digital currencies are still early. It is essential to understand the pros and cons behind it. Digitalization has prompted both regulators and the public to demand increased privacy. Same for CBDCs. Many technologists believe that the right design structure for CBDCs will ensure privacy. “There are many misconceptions on the technology and concept. It will take time to design a suitable model. In my opinion, CBDCs complement and not replace cash. Cryptocurrency recreates the future of finance.” Anndy sums up.

Economics Summit 2020 is an annual event organized by SIM Economics Society (SIMES). SIMES is a student-led society at the Singapore Institute of Management (SIM) committed to learning and researching global economic challenges.

Kevin Kristano, VP in Marcomm, SIMES thanked all the speakers and his colleagues for making this event possible and told the reporter: “Covid-19 has accelerated a vast array of technology adoption and digital transformation in several industries, like banking and finance. I believe that this change is imminent, regardless of the pandemic. I look forward to how this technological shift would affect the global economy.”

The two days summit ended on 2 November 2020. To view the video recording for this panel, go to https://youtu.be/hwgfXNUuwsw.

 

Media Contacts:

Name: Jenny Zheng

Title: Editor

Email: [email protected]

Website: www.blockcast.cc

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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