Comparing to the situation in other countries of the region, the Blockchain revolution is still viewed as something unwelcome in Malaysia. The biggest issue in the local Blockchain technology space is perhaps the regulator’s take on technology. The concepts of decentralization and the idea of information sharing still appear to be aliens to Malaysian regulators.
Malaysia actually happens to be one of the countries where financial and banking sectors have not taken a liking to Bitcoin and is rather slow in acknowledging the technology standing at the heart of it.
Changing the mindset takes a lot of time and effort. The majority understands more or less where Blockchain technology might be good, what are the strengths and limitations, but even the simplest applications are hard to push for some reason. Is it due to the lack of trust between industry players, regulators or lack of trust in the technology itself?
Well, the only way to build this trust is to make it as transparent as possible. How? By promoting, educating and socializing technology.
Empowering the community
The best thing that can happen to the industry is having a community of consumers who are savvier and more demanding for services and products of a better quality. They are the ones serving as the drivers of the evolution in basically any industry.
We are witnessing a brilliant trend when technology enthusiasts who believe in the bright future that Blockchain might help building put meetups, seminars and conferences together.
In April the Blockchain conference BLOKTEX will premiere in Kuala Lumpur. The event gathers leading experts and thought leaders in Blockchain technology and cryptocurrency space, as well as users and community enthusiasts from various locations in Asia and around the world.
The main idea is to advance public and regulators in their knowledge of Blockchain technology and facilitate collaboration and partnership on innovative Blockchain projects.
BLOKTEX will be hosted in the Convention Center right at the heart of business district of Kuala Lumpur on April 7th and 9th.
Bloktex told Cointelegraph:
“We are trying to raise awareness about Blockchain technology in the region, as many people still don’t have an understanding of what is it and what kind of benefits it might bring. We expect they get a deeper insight about Blockchain technology and the great impact it can make, and we will see an increase in practical applications of Blockchain across industries.”
Perfect mix of theory and practice
The event itself comprises several parts. H.E. Puan Hajjah Nancy Shukri, a minister from the Prime Minister’s department of Malaysia will be launching the ceremony.
Keynote speeches and presentations will commence on the first day and will be followed by technology workshops on the second day. Abdul Fattah from the Department of Standards Malaysia will be giving a talk on the benefits that standardization of Blockchain technology might possibly bring to the country.
Adam Vaziri, Founder and CEO at Diacle will provide an overview of regulatory updates in the Blockchain technology space. Craig MacGregor, owner of NAV Coin and CEO at Encrypt S will welcome the audience to dive into technology aspects of private cryptocurrencies. Pavel Kravchenko, Co-founder at Distributed Lab, Jack C. Liu, Co-founder and CSO of OKLink, Lilia Vershinina, Co-Founder at Distributed Lab, Matthew Rajendra, CEO at Green Data Center, Matthew Tan, Founder at Etherscan.io, and Rene Bernard, CEO at LuxTag.io are among the speakers at BLOKTEX.
If you feel like diving deeper into the Blockchain space and learning more or testing actual products and services, you might want to visit an exhibition hall.
Many believe that the pressure to largely adopt Blockchain technology will come not from the banking or financial sector, but from the outside, e.g. fintech startups that push through revolutionary ideas and provide ready solutions to industry.
Sharill Mohamad said that a number of Blockchain alchemists are going to present their innovative solutions at BLOKTEX. Check out the booths of BeeOnPay, Wirex and others.
BLOKTEX is expected to be annual Blockchain event. Next year it will still shine in Malaysia, but it is planned to take it to other countries in the region.
To know more about BLOKTEX, contact organizers and reserve your tickets, please visit the website.