CYBERJAYA, 6 Nov.: The nation’s business owners and entrepreneurs should leave their comfort zone and starts to implement blockchain technology in their business model operations.
The rapid development of blockchain throughout the years, together with the existence of Bitcoin was phenomenal and has changed how business operates, in agility and speed, reducing costs and risks, and building trust.
El Lee, the Chief Operating Officer of Onchain Custodian, a firm that offers digital assets custody for institutional and accredited investors, stated that the low adoption rate coupled with high growth signals huge potential for the industry.
“Blockchain is a futuristic technology. They (entrepreneur) should consider this technology and start to adapt in their businesses, wait no more! The Internet took 20 years to go from 36 million users in 1996 to 4.3 billion active users in 2018.”
“So, if you want to be the pioneer in this industry, as well as gaining more client and audience, then you need to move now,” said El in the ‘Introduction to Blockchain, Token Economy and Safekeeping of Digital Assets’ session, held at Malaysian Global Innovation & Creativity Centre (MaGIC), Cyberjaya.
The technology proven to be beneficial in different industries such as financial, insurance, healthcare, real estate, and public sector services.
The nature of blockchain is transparent and immutable. These elements of blockchain make the technology beneficial for use in various scenarios and industries.
The rise of digital assets has attracted hackers and bad actors. Asset owners and exchanges are susceptible to hacks and heists. This is where Onchain Custodian plays a major role in securing clients’ digital assets. El stated that his firm so far has supported several digital assets including Bitcoin, Ethereum, Litecoin, Ontology and NEO.
“As a firm, we are not only focused on making money, in fact, we are dedicated to driving the industry forward, creating more jobs and opportunities. At the same time, we have approached government agencies to enhance the awareness on blockchain.” said El.
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A writer, hustler, believer in continuous learning, and believer in creativity can change the world for the better. In Techcryption, Jumali is the Broadcast News Analyst for Bahasa Malaysia and English, covering the 4.0 Industry.