Asia has always been at the forefront of technological innovation, and that is no different when it comes to blockchain technology. What was primarily developed to make peer-to-peer payments easier has now merged into new areas.
The bottom line is that blockchain appears to have few boundaries – and Asian companies are realising this. Here are the most innovative Asian blockchain companies that should be on your radar.
Dacsee: Ride the Blockchain Revolution Together
Dacsee is another ride-share company that help people get to where they need to be conveniently, while also doing good for the planet. All payments are made on the blockchain to reduce costs, but the commission that the company takes from drivers’ crypto wallets is minute compared to competitors.
Low fee wallets have always been held in high esteem by us all. Hence the reason why millions of crypto enthusiasts have chosen the Luno Bitcoin wallet which continues to grow in popularity. This safe wallet has smaller fees than competing wallets to help more people get the most from their digital currency.
Hara: Helping Rural Workers
Hara is a blockchain-based company that has the overarching aim of helping farmers and workers in similar situations. They store data on the blockchain so people can easily access things like the prices of crops, land ownership and more.
When a farmer contributes to the data, they are rewarded with Hara tokens, which can then be swapped for fertilisers and other common farmer needs.
In certain areas of Asia, there is a significant lack of financial inclusion which forces people to seek financial solutions from untrustworthy or bad-intentioned groups, such as loan sharks. This results in hyperinflation and problems for farmers. By using the data on Hara they can provide established loan providers with the information needed to secure more favourable loans.
Bluzelle: Renting Out Computer Space
There has been a positive trend of people sharing what they have to make a little bit of money. From people listing spare rooms on Airbnb to back seats on BlaBlaCar and Uber, where there is space there is potential.
Bluzelle taps into these ideas by helping users get paid to share unused space on their computers. When used, data is stored in multiple locations at once, which also means there are more security and back-up solutions in the event of cyberattacks.
Tripio: Kicking Fake Reviews into Touch
Tripio has a simple but effective concept. It aims to be the best platform to help people book travel accommodation using the blockchain. Asia is a much-loved destination around the world and it is certainly a promising place to make it work.
One of the best things about such a platform is that it will help clarify common problems in hotels such as room mix-ups, incorrect reservations – and even prevent people from posting fake reviews.
The acceptance and regulation of cryptocurrency in Asia may be polarised depending on location, but one thing is for sure. Companies spanning the whole of Asia value blockchain technology and are putting it to good use.
BOT relaxes rules to Curb Strong Baht
the Bank of Thailand (BOT) decided to relax regulations to facilitate capital outflows to help promote capital flow balance and lessen pressure on the baht.
The Thai baht has been under pressure due to imbalanced capital flows in the current environment of highly uncertain and volatile external conditions, the Ministry of Finance (MOF) and the Bank of Thailand (BOT) decided to relax regulations to facilitate capital outflows to help promote capital flow balance and lessen pressure on the baht.(more…)
Bank of Thailand cuts rate by 0.25% to 1.25 per cent
The latest cut brings the Bot’s policy rate to an historical low, which the bank maintained from April 2009 to July 2010 during the subprime global financial crisis.
On 6 November 2019, the MPC voted 5 to 2 to reduce the policy rate by 0.25 percentage point from 1.50 to 1.25 percent, effective immediately. Two members voted to maintain the policy rate at 1.50 percent.(more…)
Thailand’s loss of trade privileges with US is credit negative
The development is credit negative because Thailand’s export-oriented economy is in a difficult external environment given that a broad-based export slowdown and strong Thai baht are weakening the competitiveness of goods exporters and the country’s tourism industry.
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