KardiaChain has attended to OKEx Cooperation Summit 2019 at the GEM Center in Ho Chi Minh City as Guests of Honor. Our Chairman Eric Hung Nguyen has participated in the panel discussion.
OKEx Cooperation Summit has drawn together major projects in the blockchain industry such as OKEx, Ontology, TRON, Blockcloud, Contentos, Genesis capital, KardiaChain, HPB, QTUM, Truechain, Coinall, Cocos-bcx, CoinMarketCap, TradingView, Cointelegraph, ST Foundation and My1ex exchange along with numerous domestic and international blockchain communities as well as KOLs, media and technology enthusiasts.
KardiaChain have shared their vision and goals with an audience of over 1000 people. Chairman of KardiaChain — Mr. Eric Hung Nguyen participated in a panel discussion to discuss decentralized finance. With many years of experience in the finance industry, Eric Hung Nguyen has presented various different point of views on the development of decentralized finance and the importance of interoperable blockchains in the development of decentralized finance in the future.
Other attendees in the panel discussion along Eric Hung Nguyen were — Director of Blockcloud — Zhongxing Ming; YeeCo CCO — David Li, Kambria CEO — Thuc Vu; VIC Coo — Quang Nguyen with Erik Chu — OKex Community Manager as the moderator. The speakers have expressed their opinions and commented on the topic of decentralized finance, blockchain scalability as well as approaches to achieve the optimal balance between scalability and decentralization.
As a seasoned investment analyst in London, Eric Hung Nguyen has stated:
“One thing that I have realized after many years working in the finance industry is that as a manager of a hedge fund I had access to much more information as compared to a retail investor, the difference is huge. And you get a lot of opportunities to invest. Just to give you an example, Uber recently had an IPO and its valuation was tens of billions of dollars. But who can invest in Uber when it’s only ten or twenty people but not retail investors. And what I think decentralised finance can do is that it will level the playing field, so it will allow even a worker in remote areas to have the same opportunities as a hedge fund in London to have the equal playing field, so that everyone has the same opportunity. This is also the fundamental idea behind the blockchain technology and decentralised finance is going to be a pipeline to a new economy.”
KardiaChain shares this vision, with the mission of creating equal investment opportunities for everyone.
“Kardiachain is a public blockchain platform focused on interoperability. We offer a unique technology called the “Dual Node”, which allows us to connect to any public blockchain regardless of the differences in the protocol.” Eric Hung Nguyen further added that privacy is another significant issue when enterprise contain a lot of private data, but at the same time needs to publish transparent public data . For example, a hospital patient pays for treatment through insurance, the bill may be published for the public. However, private data like date of birth, address and name should be private. This reason is one of the main incentives for KardiaChain to develop a solution that is able to combine public with private blockchains.
“When the cross-chain technology still has many limitations, decentralised finance like banking dapps is currently mostly on Ethereum so basically you can only stake ERC20 coins because they’re a part of the same ecosystem. KardiaChain has the cross-chain capabilities to interconnect different blockchains, which enlarges the whole ecosystem and allows for transfer of digital assets and data between different blockchains, empowering the whole decentralised finance industry.’
During the panel discussion, the audience has asked in-depth questions about the government’s stance and views on digital assets as well directions that Vietnam could mirror from countries with developed economies such as United Kingdom.
The Chairman of KardiaChain Eric Hung Nguyen has given answers to the questions above: “STOs (Security Token Offerings) is a high potential field with many development opportunities in Vietnam. For example, the impressive development of the bond market, interest rates are better than bank deposit rates but the bond market is still quite small, equal to about a third of the stock market. The problem with this market is the requirement of a large minimum investment, usually from 100–200 million VND.”
KardiaChain has researched STOs extensively and we believe that the current market trend is headed the wrong way, they announce a project with the STO format and then make a financial product that will be traded through this format.For example, you have an airline and decide to integrate the ticketing process on the blockchain is a better approach than having a ticketing system on the blockchain platform and then attempting to build an airline. It will be simpler when big financial corporations like Goldman Sachs, Morgan Stanley, or JP Morgan decided to apply the STO form when these corporations have many years of experience in the financial sector as well as a large existing user base.
Therefore, the trend in the near future is for familiar products like bonds to take on the STO format, expanding to more investors with minimal investment from just a few million Vietnamese Dong (VND). Along with benefits such as transparency, low costs and fast processing times that blockchain technology provides, STOs will have stronger developments. From this point on, the legislators and the government will also have a more positive view on the blockchain technology when many large enterprises and corporations integrate blockchain technology.
OKEx Cooperation Summit has also provided an opportunity for blockchain projects to form mutually beneficial strategic partnerships with exchanges, venture capitals and communities in order to further develop the blockchain industry in South East Asia as a whole and in Vietnam in particular. KardiaChain as a blockchain pioneer in Vietnam will serve as a bridge between blockchain projects as well as international blockchain ecosystems. Stay tuned for more development progress of KardiaChain.