The wealthiest families of Asia come together to learn the business of Blockchain

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One hundred and thirty of the richest and most influential people of Asia met today in Singapore to delve into the finer points of the blockchain. The group of entrepreneurs, investors and families would have adapted well to the cast of Crazy Asian people, which is also set in Singapore.

What united investors was a small group of some of the most influential cryptographic leaders in Asia and the world, who spoke openly on stage in an invitation-only event hosted by Forbes Asia, called "Decrypting Blockchain for Business".

Set against the backdrop of the collapse of the value of the cryptocurrency industry, which saw the collective market fall by 47% in the last three months, the atmosphere in the packed room was far from the fanatical events that the industry has become famous in 2017, during one of the largest bull markets in history.

Instead, the audience, composed of essays, old grandparents and young, innovative nephews, was characterized by a calm and persistent note taking and a more measured analysis. Anderson Tanoto, director of the production conglomerate Royal Golden Eagle (RGE) has positioned his own interest in the blockchain during a chat on the fireplace on the stage.

"There are two herds of people in blockchain, those who want to get rich with cryptography and those who want to change the world with the blockchain, I'd like to join the second group."

Tanoto is the son of Sukanto Tanoto, who founded the $ 18 billion EGB 50 years ago. As part of his exploration of the blockchain, which was initially disclosed as the technology of the distributed ledger that powers bitcoin, young Tanoto contributed to the launch of Sustainability Assurance & amp; Innovation Alliance (SUSTAIN) to move the vast supply chain of RGE palm oil onto a blockchain.

The consortium of palm oil growers, palm oil processors and consumer goods producers aims to shift half of the global palm oil supply chain to a shared ledger distributed within the next two years, Tanoto said. . He not only hopes that investment will increase transparency in the supply chain, but hopes that it will remove unnecessary intermediaries.

Other non-cryptographic blockchain applications exposed to the event were presented by Janil Puthucheary, Singapore's senior minister of state at the ministry of communications and information and the ministry of transport.

Puthucheary helps to oversee the technological research of the Singapore government and is a driving force behind the national Smart Nation initiative to incorporate blockchain and other technologies into its infrastructure.

In particular, Putcheary has listed several government projects that explore the use of blockchain to track goods in a supply chain and automate the payment of health insurance coverage if, for example, a patient is diagnosed with diabetes.

Puthacheary also highlighted the work of the Singapore Monetary Authority to explore ways in which the blockchain can interact with the existing financial infrastructure of the central bank. But the minister also warned the public of the family offices and more against the limits of the blockchain.

As part of Singapore's blockchain work, Putcheary said the nation's IT security team worked in all government offices to find a balance between the potential benefits of using cryptographic registers to track resources and " human errors "that can potentially introduce vulnerabilities.

"Blockchain is not inherently safe, alone," said Putcheary. "No technology is, but it has some properties that could guarantee a higher degree of securities with few resources".

Other notable speakers from the event included the founder of the China Bitcoin Exchange BTCC, & nbsp; Bobby Lee; the executive vice president of the Singapore Stock Exchange (SGX), Tinku Gupta; and Jehan Chu, co-founder and managing partner of the blockchain development company Kenetic.

While much of the event agenda focused on the applications of non-cryptogenic blockchain cryptocurrency, a significant part was still devoted to cryptocurrency, despite the massive market downturn.

During an extended conversation on cryptocurrency with Forbes senior journalist Pamela Ambler, co-founder and CEO of Bin-in-currency, Binance, Zhao Changpeng, better known as CZ, spoke about her company's future plans and what she hopes will make the cryptocurrency mainstream.

In particular, CZ discussed the plans of his company to create its own blockchain, called the Binance Chain, which would allow the creation of new currencies and would facilitate the ICOs similar to ethereum. Despite the new plans, however, it is an old view of the cryptocurrency that CZ says it hopes will finally lead to global adoption.

"Basically, I would like to see the adoption of payments increase," said CZ. "This is the original intent, but for some reason it is not taking off, so we are pushing very hard into that space."

During a direct talk on the current status of the blockchain, co-founder and chairman Bloq, Matthew Roszak, framed the overall investment opportunity he says he sees in space.

"The advertising campaign is turning into pragmatism, but we see the momentum," Roszak said of the market prices of crypts in distress. "This is a good time when we see these moments of calm thinking about your strategy and your approach to space."

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One hundred and thirty of the richest and most influential people of Asia met today in Singapore to delve into the finer points of the blockchain. The group of entrepreneurs, investors and families would have adapted well to the cast of Crazy Asian people, which is also set in Singapore.

What united investors was a small group of some of the most influential cryptographic leaders in Asia and the world, who spoke openly on stage in an invitation-only event hosted by Forbes Asia, called "Decrypting Blockchain for Business".

Set against the backdrop of the collapse of the value of the cryptocurrency industry, which saw the collective market fall by 47% in the last three months, the atmosphere in the packed room was far from the fanatical events that the industry has become famous in 2017, during one of the largest bull markets in history.

Instead, the audience, composed of essays, old grandparents and young, innovative nephews, was characterized by a calm and persistent note taking and a more measured analysis. Anderson Tanoto, director of the production conglomerate Royal Golden Eagle (RGE) placed his interest in the blockchain during a hearth chat on the stage.

"There are two herds of people in blockchain, those who want to get rich with cryptography and those who want to change the world with the blockchain, I'd like to join the second group."

Tanoto is the son of Sukanto Tanoto, who founded the $ 18 billion EGB 50 years ago. As part of his exploration of the blockchain, which was initially disclosed as the distributed ledger technology that powers the bitcoin, young Tanoto helped launch the Sustainability Assurance & Innovation Alliance (SUSTAIN) to move the vast supply chain of RGE palm oil on a blockchain.

The consortium of palm oil growers, palm oil processors and consumer goods producers aims to shift half of the global palm oil supply chain to a shared ledger distributed within the next two years, Tanoto said. . He not only hopes that investment will increase transparency in the supply chain, but hopes that it will remove unnecessary intermediaries.

Other non-cryptographic blockchain applications exposed to the event were presented by Janil Puthucheary, Singapore's senior minister of state at the ministry of communications and information and the ministry of transport.

Puthucheary helps to oversee the technological research of the Singapore government and is a driving force behind the national Smart Nation initiative to incorporate blockchain and other technologies into its infrastructure.

In particular, Putcheary has listed several government projects that explore the use of blockchain to track goods in a supply chain and automate the payment of health insurance coverage if, for example, a patient is diagnosed with diabetes.

Puthacheary also highlighted the work of the Singapore Monetary Authority to explore ways in which the blockchain can interact with the existing financial infrastructure of the central bank. But the minister also warned the public of the family offices and more against the limits of the blockchain.

As part of Singapore's blockchain work, Putcheary said the nation's IT security team worked in all government offices to find a balance between the potential benefits of using cryptographic registers to track resources and " human errors "that can potentially introduce vulnerabilities.

"Blockchain is not inherently safe, alone," said Putcheary. "No technology is, but it has some properties that could guarantee a higher degree of securities with few resources".

Other keynote speakers of the event included China Bitcoin Exchange founder BTCC, Bobby Lee; the executive vice president of the Singapore Stock Exchange (SGX), Tinku Gupta; and Jehan Chu, co-founder and managing partner of the blockchain development company Kenetic.

While much of the event agenda focused on the applications of non-cryptogenic blockchain cryptocurrency, a significant part was still devoted to cryptocurrency, despite the massive market downturn.

During an extended conversation on cryptocurrency with Forbes senior journalist Pamela Ambler, co-founder and CEO of Bin-in-currency, Binance, Zhao Changpeng, better known as CZ, spoke about her company's future plans and what she hopes will make the cryptocurrency mainstream.

In particular, CZ discussed the plans of his company to create its own blockchain, called the Binance Chain, which would allow the creation of new currencies and would facilitate the ICOs similar to ethereum. Despite the new plans, however, it is an old view of the cryptocurrency that CZ says it hopes will finally lead to global adoption.

"Basically, I would like to see the adoption of payments increase," said CZ. "This is the original intent, but for some reason it is not taking off, so we are pushing very hard into that space."

During a direct talk on the current status of the blockchain, co-founder and chairman Bloq, Matthew Roszak, framed the overall investment opportunity he says he sees in space.

"The advertising campaign is turning into pragmatism, but we see the momentum," Roszak said of the market prices of crypts in distress. "This is a good time when we see these moments of calm thinking about your strategy and your approach to space."