Abstract : 2019 Fintech and Blockchain Summit was successfully held in New York Marriott Marquis, distinguished guests in financial and technological sectors from both China and America gathered together in this summit and shared their insights about the future trends of fintech and blockchain.
On 10, October (Eastern Standard Time), the 2019 Fintech and Blockchain Summit was successfully held in New York Marriott Marquis. The summit was organized by ChainDD and TMT Post, and National Business Daily had also contributed to its opening.
Distinguished guests in financial and technological sectors from both China and America gathered together in this summit and shared their insights about the future trends of fintech and blockchain. Roel Campos, former member from the United States Securities and Exchange Commission (SEC), Peter Walker, the Senior Partner Emeritus at McKinsey & Company, and Xavier Michon, Deputy Executive Secretary of the United Capital Development Fund (UNCDF) participated in our summit.
In addition to over 300 participants, international media, including Bloomberg, Forbes and Reuters, were present for live reports.
ZHAO Hejuan serves as the founder of TMT Post and ChainDD.
Ms. Zhao Hejuan, the founder of TMT Post and ChainDD, made the opening remarks for the summit. She talked about the influences of growing tension brought by the trade war on TMT and ChainDD’s business in the US but she also believes that technology is the shared wealth of mankind, that changes of the Sino-US relationship will not stop us from pursuing the progress of technologies and that the economic tie between China and US are still becoming more and more important.
Catherine Li is the co-founder of ChainDD in the US.
Catherine Li, the co-founder of ChainDD in the US, launched a brand-new integrated transaction product named ChainDDx in New York. ChainDDx provides real-time information of multiple stock exchanges, wallet and trading on multiple platforms.
Peter B. Walker is the Senior Partner Emeritus at McKinsey & Company.
Peter B. Walker, the Senior Partner Emeritus at McKinsey & Company, was one of the major guests in this summit. Walker has been to China over 90 times. In his opening remarks, Walker said that both China and the US are tech giants; a zero-sum game between these two countries is a western mindset. In the future, both countries will have their own competitive advantages in different fields. By now, China has already been a leader in renewable energy and the US has been a pioneer in nanochip, which means they will compete in these fields.
Daniel Wolfe is the CEO of Tradingene.
Daniel Wolfe, the CEO of an algorithmic trading marketplace called Tradingene, gave a keynote speech themed as Financial Revolution: Financial Services in the World of AI and Blockchain. In this speech, Wolfe talked about decentralization in the financial sector is mostly based on blockchain which provides more channels for investors to access capital. He said what is so fascinating about the digital world is its connectivity, as it reaches and connects.
The roundtable discussion with a theme of Collective Wisdom and New Era of Inclusive Finance Fueled by AI and Blockchain Technologies.
Guest participants discussed and had some bold predictions about a revolution of our times that is brought by AI and blockchain during a roundtable discussion named Collective Wisdom and New Era of Inclusive Finance Fueled by AI and Blockchain Technologies.
Leo Lam, the partner of TSR supercomputer network technology, said that blockchain will be the key to the new relations of production. He believes that blockchain and token ecosystem will be important tools to change relations of production and integrate resources; token economy will be a new type of production relations for more inclusive and more efficient coordination. Lam pointed out that the truth among the three Industrial Revolutions is new technologies boost production and new mechanisms decides coordination. He said the production and the means of production in the era of intelligence are AI and algorithms, so blockchain and token ecosystem will be the essential new relations of production.
Cecilia Li is the investment director of OKcoin.
Cecilia Li, the investment director of OKcoin, shared her views on how OKCoin expands business and enhances influences, as well as OKCoin’s Global Strategy, is being stably implemented. She said the purpose of OKCoin is to offer premium digital currency services.
Roundtable discussion themed as Formulate Effective Code of Conducts for Emerging Digital Capital Market
In the morning agenda, a roundtable meeting themed as Formulate Effective Code of Conducts for Emerging Digital Capital Market attracted a lot of attention.
Senior analysist with Massar said the cryptocurrency will reshape the global currency system. And take Bitcoin as an example, it can be used without being limited by national sovereignty, which is obviously not only an innovative technology but also social and political campaign.
Eric Gu is the founder of Metaverse DNA and Metaverse Foundation.
Metaverse ETP was released in the year of 2017 as the first blockchain that is based on PoW Consensus mechanism, and the Metaverse Smart Token (MST) allows users to freely create digital assets and digital identities.
Eric Gu, Founder & CEO of Metaverse DNA, and Ken Huang, co-founder of Metaverse DNA and expert member of China Institute of Electronic, were at the summit.
Gu believes the five pillars of a good public blockchain are performances, Oracle, centralized digital identity, safety and interoperation.
Ken Huang is the co-founder of Metaverse DNA and expert member of China Institute of Electronic.
Huang further explained in his speech that a public blockchain should focus on data and decentralized digital identity. However, the purpose of decentralization is to realize encrypted identity data storage while data can be authorized, identity data can be controlled and credit system can be transparent.
The roundtable discussion was themed as “Investment in Social Influence: How to Benefit from Interests?”
In the afternoon, guests from both academic and business circles discussed “Investment in Social Influence: How to Benefit from Interests?” in the 2019 CHAINSIGHTS Fintech and Blockchain Summit.
Sarit Markovich, professor at Kellogg School of Management, Northwestern University, said useful investment shall benefit investees and society. She believes this issue is more evident in the third world, especially when local supervision cannot support the investment, and investment institutions should design some more effective incentives to boost the prosperous development of investing activities.
Juan M. Hernandez is the CEO of Openfinance.
Juan M. Hernandez, the CEO of a world leading second market transaction platform Openfinance, announced the listing of Current Media’s $CRNC token on Openfinance ATS and its international partner network after this roundtable discussion.
In the roundtable discussion themed as Development and Expectations of Decentralized Financial Sector, five high-profile experts in financial sectors had an insightful exchange of views over the development, supervision and relevant issues of decentralized finance with the MC.
Emma Zhang, the head of product with Bond One, shared her analysis from the perspective of bonds. She said the biggest change brought by decentralized finance is that the digitalization of traditional financial assets as well as the digitalization and automation of KYC and identity which will introduce more asset categories for direct transactions and smaller-scale investors.
Craig Wright, Australian computer scientist and BSV community leader, shared the significant meanings of blockchain in financial assets security after a keynote speech. Wright said, if we try to look at the financial crisis, and the movement of assets after credit default swap, problems will be the whether they can be tracked or not; although the financial instruments are complicated nowadays, blockchain solves this problem as it can trace the asset from the very beginning.
Jimmy is the Founding President of the Bitcoin Association, the worldwide industry organization for the business of Bitcoin.
Jimmy Nguyen, the Founding President of the Bitcoin Association, mentioned in his speech that all global public blockchain should meet the requirements of expansion, low cost, transparency, openness, auditing and verification in order to create a more business-friendly ecosystem and a stable network and agreement.
The subject of the roundtable discussion was “Investment Opportunities in China”.
At the roundtable meeting with the theme of Investment Opportunities in China, “China Investment Opportunities”, Yang Xu, Partner of Tiger Brokers pointed out that 20% to 30% of global funds flow to emerging markets. According to the World Bank’s report, China is second only to the United States in foreign direct investment.
Mr. Rob Li, who is currently a Partner and Managing Director at Stone Forest Capital and is responsible for the firm’s investments in Greater China, mentioned that China gradually lift restrictions on international investors in the financial sector which will provide more possibilities for foreign capital investment and allow investors to better seize investment opportunities in China.
Daniel Harris, the founder and CEO of Full Circus
Daniel Harris, the founder and CEO of Full Circus, shared his viewpoint in a keynote speech that no one shall worry about quantum computing will replace blockchain and cryptocurrency.
Harris said, "in the crypto world today, and blockchain specifically, less than 1% of the population is on the adoption level". Quantum computing may be the game changer, but as we all know, "the adoption and the actual application of those technologies vary greatly."
Roel Campos, the former SEC commissioner.
It should be noticed that regulations related to blockchain and cryptocurrency are still very strict at the moment. Roel Campos, the former SEC commissioner, mentioned in the closing ceremony that SEC is doubtful about cryptocurrency and the relevant field. SEC holds the view that many smaller investors might have some wrong impression that cryptocurrency is similar to securities or shares. Campos said, “One interesting thing is that both Bitcoin and Ether have been declared not to be securities, which means that they don't have to be registered if they are used. Bitcoin and Ether are such that they are decentralized, that they are in a network that doesn't have central management, and that's the key.”