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Blockchain News – On The Pulse #2

by | Apr 25, 2019 | Blockchain Business, The Signal | 0 comments

On The Pulse is your weekly roundup of the most important news coming from the blockchain space in Asia. This week’s stories include Malaysia’s push for Industry 4.0, Melaka’s Chinese government-backed blockchain initiative, cryptocurrency pyramid schemes, North Korea’s potential focus on Southeast Asia’s crypto sector, and more. Read it all below.

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HTC To Launch Updated Blockchain Exodus Phone

HTC is set to launch an updated version of it’s blockchain phone, the Exodus 1, later this year. The Taiwan-based smartphone maker is also planning to increase it’s decentralized applications on the phone beyond digital asset management. They have plans to expand into messaging, browsing and more according to Phil Chen, Decentralized Chief Officer at HTC.

Melaka Blockchain City?

The Chinese government is reportedly supporting the construction of a “blockchain city” in Melaka. The development was announced in a press release shared with Cointelegraph on April 26. Construction and engineering company China Wuyi and investment network SWT International Sdn Bhd have jointly launched the Chinese government-backed project aimed at the development of the city into a blockchain city called Melaka Straits city. The founders of the project are planning to raise 500  Malaysian Ringgits ($120 million) during the initial stage.

FinTech Paves The Way Forward

Financial inclusion (FI) has become the major beneficiary of fintech. Almost inadvertently, the spread of mobile telephony and mobile-Internet services has brought hundreds of millions of people into the formal system. Malaysia now seeks to accelerate Industry 4.0. But as Malaysian banks continue to lag behind, should they opt for more collaboration with upcoming FinTech startups?

The  Pitfalls of a Cryptocurrency Pyramid Scheme

The recent charges brought against two men in Singapore for promoting a multi-level marketing scheme (MLM) involving the cryptocurrency OneCoin is an indication that the law is catching up with old-fashioned online scams dressed up in the new trappings of technology. OneCoin was eventually revealed to be a ponzi or pyramid scheme that swindled an estimated US$2 billion (RM8.22 billion) from its victims, but what is the likelihood that Malaysian digital asset investors could also be at risk?

North Korea May Target Southeast Asia’s Crypto-Sectors

According to a report released by The Royal United Services Institute [RUSI], North Korea could target Southeast Asia’s vulnerable crypto-sector. The Report stated countries across the Southeast are vulnerable to systematic risks as their regulatory approaches are weak, something North Korea can take advantage of. These systematic risks are based on the fact that Southeast Asia’s digital sector has a lack of coordinated regulations.

Samsung Coin Reportedly on The Horizon

 Samsung is working on its own blockchain according to an anonymous source. The source told CoinDesk  CoinDesk the company is building it’s own private blockchain.  Samsung’s latest phone,  the Galaxy S10, already includes a cryptocurrency wallet. Are we going to see Samsung develop its own coin?

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