HK Blockchain Week 2020 - Panel: Public Open Blockchains, Regulation and Interoperability: Explained

Hello, hello everyone, it's all the years, cesky, its Hong Kong lock screen week 2020 and I'm thrilled to introduce my panelist. Today, we're going to talk about possibly block change in about interesting, quote of cooperation, and collaboration and about enter durability and about Kong Kong and Regulatory Frameworks. All interesting stuff in this battle. So let me start with mr. You from he, who's the founder and CEO red day. Technology, which is the architect firm behind the Bia. Stand. Watching service network. Welcome. Mr. He I'm thank you so much for joining us

now to Julian Lowe. Julian is the business development director for Southeast Asia tzk pack. Thank you. That was as we know, was selected as one of the first batch of public law changed to be integrated into the BSN, which is a global public infrastructure Network for blocks and projects and companies alike. And now to doctor Wiseman low, welcome doctor, law partner of DL capitals. And also, he's a young faculty of the Chinese University of Hong Kong and a

visiting professor of PK. You welcome. Thank you so much for coming. And last but not least, Pender won commissioner in global at Global Commission of Internet governments terminal, verify Hong Kong and seriously I can spend a lot of time naming Pender's achievements and most importantly, Bender is an internet Pioneer. Who co-founded the first license? Internet service provider in Hong Kong's back in 1993 and was also the Chief Architect of the belt and road block chain stores down, welcome Bender. Thank you for having me. Thanks everyone for coming together

again and well, I shall start with the one of the most hottest topics, one of the hottest topics of 2020 and the year before. So you find starting with u v Ascend in its introduction has been I just say one of the Milestones of the whole boxing in the street and I think I will let you speak about that. Talk about being sad about his development process and where they missive is today. Meaning of I mean enrolling the first Bachelor blockchains together with tezos Okay, first person not of black skinny,

I always send you the to say that first Network, which is the integrating all kind of blocks and acknowledge the permission to bring work as a public Exchange in Hickory, putting everything together for developers to easier to email to basically get pictures developed technology. So there's two major purpose. The first one is the way we want to make, you know, the access to prachi. Ranade trip much, much cheaper, and the user. So so much right now April, if you go to any cross Oasis Friday,

if you want, help you to your own private, seen it, it probably cost a lot. Okay? Audi, 200 thousand RMB, to spiropoulos repair in a private room, 224 in the radio developer and a small medium company even twice as a technology. That was. So it would be a 10-week drops that price to basically $28 per month. Okay, I got the $200 per year, so I really can't why I least reply what's processing technology in the grave. This new technology into your own by cheapest.

So that's actually the first two perverts and rethink the entire production industry, right now. It's like a 1994 internet. No. It's a entry not okay, at 8 to own our own business model. I know it doesn't talk to any other. She's so I, I think I seen a logical there will be something on the Internet for black sheena's, right? All the chance to talk to each other very easily. Now that you know, right in like $1,000, couple days to be three lines cause

I can call another person in August my contract. That's how that's actually called the internet become so powerful because of data actually flew, across the industry across, names. That's how it where the Innovation begin integrating all kinds of action Technologies. One of them to, you know, can connect to each other, much easier ways in a controlled environment. So, so that's why, you know? Right now, we've basically already in the way to like her seven major permission to framework, you'll come. You

know it's cool because super Tri-State are on the way I can go preaching with a cold you're asking the price on the autocorrect also you know all the major Publix change the next time. It's basically the first one will interpret and underwear 325 tablet catching every single month. So by July next year, we will have like a pretty major publishing. I'm guessing it's a week, all the open permission because you cannot really, you know, operate a big thing is, I can't because of the regulation do with it, this project that says,

bring bringing the publishing You've put on about convert them into a permission to narrow. The Honda announced it would take out the cryptocurrencies, you'll have to use the fare money to pay for the gas. So, it's actually pretty comedy kids. By the way, you can bring you the publishing technology section. So that sassard framework, we are using Bridge Under tables. All the way to the end of first group of having a Dream original coming into Electronics. In

Fremont, we already did Aretha and also putting our ways with those the protocol any smart contract punishment, example, private change, my contract can call the smart contract on title of them. Do they make the interaction communication? Watch my feet. Right now. We are the alarms that our cat's not. So you can basically, you know, if I break my contract in call to call to call my country, on your ass, a smack. That's actually the first half of the Utah

poor bility, you know, I'm dancing in the rain tomorrow, in the mall in touch with framework. To next one is actually, we talked her way, the Apopka, to also, you look great. So, so, so that's, that's basically where we are right now. And also, I saw a major part of the week, all that Public Safety. Know, it's actually been a center of the way we fight. We already have one 120 centers around the world. Almost 100. You start Rihanna on the 10th class international day.

So do you store all the blockchain technology? Sing a Santa song, that's why you can keep all your own train and access to public attention from those tickets under, which is the real. That's basically the second base components off of gas and the first one in the pre-market. Second one is a probably see. If, you know, if you want I want all do. We actually provides a API to all the websites and they can be very clear on the cheap way to build the blocks

and services section into their their website and they manage their own developer, they charge those developers and quickly, run through our eyes, to connect to the PS4 and the two basic rate to know how can do, you know, Patients on the Osmond. So, so, so basically impossible and the framers On top of all the major providers Microsoft call center on top of Ghana. That's basically the landscape of Gaston. So Julian's, you want to follow up on that? So how

did Tesla's go through that collaboration and integration? So did your your company in network float change? So it's so I'll get this baby out a backpack, a little bit dark supervisors, not able to attend because she's not feeling well. So you are in my inbox cause I feel like like literally like overnight. Everybody is like a game-changing and the way that a lot of people view, the Chinese boxing space, you know on how Progressive they are, right? So It's an extreme honor to be part of the face in a group of Public public. Commissioner

open up that and you see the column, permissionless just a caller permission to give me a sentence with you. Open. The Chinese public directly embraced, both commission air conditioner. So so it's a it's a great honor. we are more like an advocacy group, so, yes, thank you. You find it. Can I see the full of question about the obvious and I know that this summer there was a split. So why did it happen? Is it what way are what are the eventually the benefits of this to hear Deco system? How did it work? Yakima is your one page in our, okay.

Let's play a play means that we actually took place the governance of gasoline in Tokyo Central on the Pearson International. It's just like a regular you tonight but I cannot regulate you asked, I was there a CIA agent that you ask Carmen to Dragula internet. So that's why it's me to send her age and Stage a kind of, they have no power outside, so. He hasn't become a global infrastructure. We also need the, you know, accountants outside trying to follow the local laws and regulations. That's why we're having a fun day in Singapore. It's a it's a it's a

Management Foundation, you know, where are where are actually catching? You know, who have Partners to manage is a PSN International together. And also, we will open so everything related to be a sin to our technical Partners in next two months under. And so we can, you know, Castle Rock group of technical, these together with developing the arson know also you three years. We will open so I resent it public. So everybody, can you order their own Public Safety? Know, everybody can feel the Apollo an hour ago, they can't know. You look great in that Uncle

gassen. So it will be in the open source in 3 years. That was that was the answer to my other question about the international prospects of this is one of the most interesting things. Thanks for sharing know, there are lots of things that have been said about submission, blockchains information list blockchain. And I know that there has been a whole battle on the internet the older internet going on still. So I think I would I would ask a question to all of you. What is who's the winner eventually permission blockchain permission less

blockchain or their you know, they're not going to be fighting each other but rather interoperate Would like to start. Dr. Lundgren, you're on mute. I think they will be courses for a long time. You need, for example, you know, you're not refinance, digitisation, exercise, you need the bangs to work together closely and and then Aqueon, the certain rules and principles and Beth something like order will be quite suitable for that right. On the other hand, you have a lot of fun.

Define posit for sample, which you can write run, lawn if I am or some of the framework, and then in that case, maybe option would be more appropriate. So, I think they have their own use case and suitable area. And, and is, is, is going to be exercising for a long time. That's my current view. Maybe I will change, but I would love to see you what the other panelists will say. Oh, so, so maybe I just been talking to some of the regional how you say I thinking with regards to a both private and public

blockchains. So there is a slight biased with private locksmith. So, and in a very honest opinion, I mean I'll be able to speak with the foundation but I think that yes and it's not just because he marries daughter after the beauty of public and private boxes exist interrupted. So so you know how to get some because it shows a blueprint for the rest of the other day are government to Afraid of losing control in. So so. So I think that would be a sin if you persist and you guys able to to push its networking out to the other note, series on CDs to have more agencies, copy

to them. I think for much bigger. Why the book the book published? Thanks wants to follow up Bender. I do feel that the comparison to the internet. That was made in 1994 is quite true but the internet the public internet changed the world so the private internet so that time didn't but I think we may be making a thinking mistake because the role of these public or private Hawaii to show the same commission versus Commissioners is different. The public blockchains are

fantastic for being a testing ground of the technology, which is very very detailed and requires Precision Engineering. Only lost week. We had the chain split. These so-called accidental changed with Todd folkes every respect to a cerium and a cereal has been around for a while. The technology is still evolving but we are very good. Regulator. And so in some instances, we would love to be able to use the public and Technologies but in a private contacts because we need to know who connects and that is why

the the permission aspect which has sort of the right to put someone in jail especially for financial transactions. And all obligations for Angie terrorist financing and some laundering is necessary but the potential for blockchain is actually also outside of Finance. Right. Unless, you know, we would be applications for internet of things. For example, the public won't change, might be able to scale much Frost them because you don't have to have this, this gate angle, this potential slow down through, getting the permission to be able to write to the book

in itself. So I think the notion that BS and is not of much in itself above the visor is is the right thing for China at this moment, especially as we were both the economy's off the covid-19 and especially because of the during the whole confident that we have the new regulation of cryptocurrency exchanges in Hong Kong which I feel all comes together as we have all of these digital bear. Instruments. Really all Financial Center in financial role. As you know, we're already one of the world leaders Let me just look at the virtual Banks. I mean,

you know, you may recall that the virtual banks in 2019. We had always made while not all but the major Chinese technology related to the firm's, you know, Alibaba, we have and finance of, which was trying to do that. The reason I fear there and SME at the answer xiaomi has inside them $0.10 because we chat as part of ICBC to have Infinium JD Financial, I think I'd go to JD digits. Now, on with the Bank of China to have Livy, be the largest travel from the Triple C,

sharp as it used to be cool, part of a standard shot in Hong Kong, Telecom that SD digital King. And in the insurance sector, the largest to play as being on, has been on One Kinect. And John has also joined virtual Finance. All of these are banks in Hong Kong virtual Banks, so when we add virtual Commodities, as we like to call them here, we Potentially if we add this app, but this app for business which is my interests, we will have a financial system which is fit for the 21st century. You actually covered all the things that would love to cover, but we'll get back to that

doctor law. That, you know, what is a public-private change area code exists because we are building a structure. So we want to understand what's the, you know, the bottom logic of the Production Technologies. So, so that's why don't we are school. When we did our research, we, we really liked the blockchain technology, always call that they are cheap and knowledge. Do you know the technology is so, you know, from one computer to another computer data transmitted via second, that's it, okay? Then you build

Iverson on top of that, become the We sing to the the fundamental concept of the Archie. Technology is the new way of transmitting data. We call that broadcasting way transmitted from one person to another on the RTA. From one point to a group of people at the same time and then front one pack of all the people sitting in a conference room and the talk to each other, okay? But if you put those five people from one company room to in our world and I know

Angela and the transit from five people to 5 minutes ago and no longer is language. It's very complicated, a business transaction paid and the lights. Are we on something? You know, in a second. They are. The only technology, chief. That's why we think of you know I think it's a cryptocurrency as though the application of the archaea. The project is to physically, you know, a hundred thousand people agreed, you know, a price on a single codes that they become a

farmer from the internet because the window broadcast you only two guys. It seems a nice. It was three guys. Personally I think the Archie turn on the rain radio. Okay. I will be gone one day. Okay, when we was eating what side they actually goes to our personal data center list that I sent her. We'll talk to another day that's on the computer link. Okay. So It's a, it's a it's a permission which means the only like a sweet that I sent her a pill. Do we call a permission to leave? Okay, I don't want to cause

actually, I think then when this message comes a link will be gone. Permissionless the link and Mario, Publix in light in a business relationship, we got Builder, you know. Experience, the chin reddish-pink relationship, do you know, Center on the clock when I go to to other Data Center? Even, even when I will let you know a website. I actually pulled the white page on Harrison in to my data center and the tool-house, the calculations and operations and the returns are. So basically, I, you know, if I don't want to release any of my information

and that's how the internet supposed to be, it will be billed based on the blockchain technology. So I can deposit the links if it's a permission again cuz then it's a permission that he replaced. The permission is listening is really depends on what kind of scenario scenario. Think we all need, it is exclamation. Thank you for that. So and speaking of following up on your mentioning currencies, I think everyone's really thrilled about When the DC be, when the digital currency will be rolled out. So what do you think about that? First

one week ago, was the central bank has decided there's no time now. I think a PCP begin, you won't really have no matching packed on the, you calling me because the only individuals marching from faction, okay, ways that kind of setup, okay. With a full emergency. I think until I actually a peanut actually mentioned that, you know, until 8, okay, then it makes sense, okay? Which means do you know, a person know that I really love the Central Bank. Digital currency has because it's a really, you know,

makes the 10. 4 of cash. I know you meant three of merchandise probably 5 to 10 times faster and you know when the merchandise and Tim over so faster, a huge impact on the economy and under and remember it will be talk nice and the under a complete program, basically Apple iPod recompense of our system, they can pay the supplier. Not only pay their own even pay the man, you got to get my penis to business transaction. I think it will take us two or three years.

China perspective is just more of the same. It's already. You can do that with your smartphone with an extra. So again, the business-to-business, I spect, I mean call Jean Beck Central Bank. Governor has has made some recent speeches. I've even the draw flow of a decent was on the 23rd of October, so this is moving fast. I think it's a massive opportunity in Hong Kong on the deceitful business, as a great opportunity to collaborate a nasty steps roll down.

The reason directory Tree in Post. Now, when we enter the tissue you call me and Home Comfort are very interesting role combining all the video technology in one simple play, right? Let me elaborate as well. And what Pina talking about is pitcher opiate come and what we are going to launch license for what you exchange, which could be doing. Stoom honest you. So you can use your ID to verify the Depression and doing all the check on FMLA until I see. And then you have

using your digital to buy digital security, which could be the result of the organization of a lot of interesting acid or even catch troll from China, right to him. And then we will be really answer. So I guess if people don't understand that is actually an architecture, it all fits together and it's not just initially through the greater Bay Area, the 9 plus, to a different economies around Hong Kong you, what you're interested in the Belton Road, which is a hundred plus countries, but we need to prove that it works first, which is why I would be a sin is doing is

so important because it's visionary. It is a lot of technical challenges and it's not going to be easy, but I think the vision is Stan. And with regulation, as I said earlier and we're very good at that for all these new kinds of exchanges, then we will have the very big money come in and that money actually needs or the kyc little sir kyn, which is no your machine and guess what, where the machines made made in China. Duster duster at an insult for Tesla. I mean, we're always very, very supportive for CBC

medical apps not working with something to do with the first Eastern Europe. And in other parts of Asia itself is the data that you get from having a digital currency. Once you know, where the money's going, where am I is at what is being spent on infrastructure projects, A propelled economy further. That's why she won't think that a lot of people don't usually talk about you. Do you have to actually make Car policies in the old days time is money. And if new economy takes his money, I kind of want to see BBC. So just to be just to be bound.

Since I was the only one or only one talking about Bitcoin drink block Jamie from Hong, Kong it again. This new regulation, the actual jokes about regulations part back at the currency exchanges. We have many of the world's largest exchanges in Hong Kong and in, am I expect a tional, though? A lot of people feel. It's very negative to have the regulation regulations when you going to have a lot of the institutional, if I say, okay now is it's time to invest in Bitcoin. We want to do it legally. You seen some of the firm's the United States begin to take Investments Square for exam? In

Bitcoin and I expect fully but, you know, late the next year probably once everything is in order that we will also be one of the best places to buy and sell Bitcoin together because it's regulated as regulation, build trust. Absolutely. And you know what this is going to be a testing ground cuz I think my vision here is when I'm at and then watching those is that every company is a public company, just need to push everything down the cost of a running, the common infrastructure, when we have all of these digital virtual Commodities Berra

instruments, that's going to be transformative because the cost of Exchange in the cost of clearing is gone. It's going to be really, really efficient. And when we introduced the machine to machine economy, and other words machines, exchanging machines throughout the whole chain of the pipeline as per the design of the belt and Road stuff, I've been involved with you going to have a wholesome get into structure that can lost for a while. We're going to make a lot of mistakes. Make no doubt about it but I think the vision and general direction is hopefully correct. On that

optimistic note, I would like to finish her conversation where unfortunately out of time now. But thank you again for coming together, and thank you again for joining Hong Kong gold chain week. I think well interpretability and adequate regulation is eventually the key right to our own ride digital future and thanks again for joining us. Have a good day and enjoy the rest of what Hong Kong blocked anyway. Take a shower. Thank you.