The Bloconomic Summit 2018 by the Malaysia Blockchain Association kicked off with an opening ceremony by the President of the association, Dato Rayson Wong, followed by a speech from the Vice President of Malaysian Digital Economy Corporation (MDEC), Mr. Norhizam Kadir. They launched Trivechain Blockchain Hub, a centre of excellence for blockchain applications which is a collaboration between Malaysian Blockchain Association, Setia Haruman Sdn. Bhd. and the Trivechain Foundation. The launch was followed by a series of MoU signings between the Malaysia Blockchain Association and several parties. The MoU represented an agreement to build the blockchain ecosystem together both in Malaysia at domestic level and globally. 

Though it was Malaysia Blockchain Association’s first time organizing such summit, it did not fail to attract a wide variety of international big names in the blockchain industry to set up booths to showcase their projects. The many exhibitors were blockchain start-ups and established companies from countries such as Australia, China, Hong Kong, Italy, Japan, Kazakhstan, Malaysia, Singapore, South America, South Korea, Taiwan and United States.


Key highlights of the day 1:

  • Blockchain Nation by Anthony Davie CEO of Invech International Group 
  • Commodity Trading in Blockchain by Dato Sri Navneet Goenka CEO of Glitzkoin
  • Current Legal & Regulatory Framework Cryptocurrency, ICO & Blockchain by John Ho, Head of Financial Markets and Legal Department at Standard Chartered Bank 
  • Financial Inclusive Solutions to Poverty and Infrastructure Financing through Blockchain by Hazim Mohamad, World Bank representative
  • Importance of Blockchain Economy and Decentralized Data by Tan Ji Sheng Co-founder of Trivechain Foundation
  • Launching of Maxxcoin on Trivechain Platform by Matthew Chong, Maxxcoin wants to 

Maxxcoin according to its Senior Advisor, Mr Matthew Chong wants to “incorporate a tokenized system that centralizes all transactions related to the automotive industry” thus reducing the pain points affecting Malaysian consumers. Glitzkoin Founder and CEO, Mr Navneet Goenka shared with us how his start up is planning to “revolutionise the face of the diamond industry by incorporating blockchain technology inside”. When asked about how Glitzkoin aims to ensure the authenticity of the diamonds that are traded on his Platform, Mr Goenka a diamond veteran with over 20 years of experience said “We are having sales offices that act as escrow offices. These offices will check for authenticity by inspecting the diamond and check whether they match the internal certificate. Then the smart contracts will enforce the transaction.”

       In our short conversation with Invech CEO, Mr Anthony Davie, he explained how invech is the only government authorised B2B exchange. He further elaborated on how Invech aspired to expand its services into much larger countries after successfully developing “the world’s first blockchain powered nation in Timor Leste.” Lastly, Trivechain Co-founder, Mr Tan Ji Sheng explained “what we want to do is make it easy for a web application to be converted into a blockchain application by removing the learning curve.” When asked where he sees Trivechain in 5 years, he mentioned that “exciting times are ahead for us given our partnership with Dash.”

Key highlights of the day 2:

  • “Personal AI on the Blockchain – A New Information Economy” by Lisa Wang from Oben. 
  • “How to rate blockchain projects as a reference indicator for investment” by CREBACO Co-founder, Dhawal Chopda.
  • “Blockchain Reimagined” by ProximaX Founder, Lon Wong
  • “Funding blockchain projects – utilizing and rewarding an ecosystem” by Fortifex CEO, Luke A Jones.
  • “ICO, Reverse ICO and Commercial DAPP” to give listeners an idea of the relevance of ICO to DAPP by Standard Kepler MD, David Tang.
  • “Blockchain True to its core, beyond the hype (Blockchain 3.0)” by Alterex co-founder, Gobinath Nadarajan introduced.
  • “Kazakhstan Horseracing Association” by KHA Global VP, James Kim.
  • “World First Decentralized App”, which introduced the decentralized applications of the chain, such as BizContract, BizFactory and BizStore by Trivechain Tech Advisor, Terrence.

August 16th and August 17th, The Malaysian Blockchain Association’s inaugural Bloconomic Summit had surpassed organiser expectations in terms of value creation for its participants. The high satisfaction rate among the exhibitors, speakers and participants regarding the summit was proof of the high level of professionalism and hospitality of the organizer. As for participants and exhibitors the most important thing brought back was the valuable network that may further strengthen their own businesses.

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