As we turn our gaze to the future of the cryptocurrency industry, it is vital to anticipate the trends and developments that will shape the landscape in 2024. Let’s delve deeper into each of the discussed predictions:

Artificial Intelligence: Transforming everyday life

AI is expected to have a significant impact across various sectors, seamlessly integrating into our daily lives. Its influence will be profound, reshaping industries and revolutionising how we interact and conduct business.

AI has the potential to optimise processes, enhance decision-making, and unlock new possibilities in areas like healthcare, finance, and transportation. As AI technology advances, it will transform our everyday experiences and pave the way for a more efficient and interconnected world.

CBDC: A game-changer for the crypto industry

Central Bank Digital Currency (CBDC) holds immense significance in tracking, tracing, and taxing financial transactions. The introduction of CBDCs has the potential to drive widespread adoption of digital assets and revolutionise the entire crypto industry.

CBDCs offer enhanced transparency and accountability, reshaping the way we perceive and engage with cryptocurrencies. With the support and endorsement of central banks, CBDCs can bridge the gap between traditional finance and the crypto ecosystem, fostering greater trust and regulatory clarity.

Crypto travel rule: Advancing traceability and taxation

The imminent advancement of the crypto travel rule is set to elevate traceability and taxation within the crypto space. By implementing stricter regulations, authorities can closely monitor transactions, creating a more secure and transparent ecosystem for all participants.

This increased oversight will enhance the industry’s integrity, reduce the risk of illicit activities, and foster greater trust among users. As the crypto market matures, regulatory measures like the travel rule will become crucial for its sustainable growth and widespread adoption.

Layer 2: The growing influence of Bitcoin and Ethereum

Bitcoin and Ethereum, as the leading cryptocurrencies, will continue their upward trajectory in 2024. The emergence of BRC20 tokens and the development of zero-knowledge proofs (ZK) will contribute to the expansion of Layer 2 solutions.

These advancements promise to enhance scalability, security, and efficiency within blockchain networks, addressing some of the limitations that hinder mass adoption. Layer 2 solutions will enable faster and more cost-effective transactions, making cryptocurrencies more viable for everyday use and driving their integration into various industries.

Also Read: Sony & UMG join forces with Snowcrash to revive NFTs: Here’s why the digital trend is far from dead

Next level NFT: Adoption and brand recognition

NFTs have gained significant adoption thanks to the support and endorsement of major brands. While sales volumes may not have seen exponential growth, the relevance and influence of NFTs continue to expand.

NFTs provide unique digital assets with inherent value, securely traded on blockchain platforms. This revolutionises the concept of ownership and collectibles, opening up new avenues for artists, creators, and collectors. In 2024, we can expect NFTs to permeate further various industries, including gaming, virtual real estate, and intellectual property rights management.

Web4: A decentralised and autonomous web

The emergence of Web4 signifies a shift toward a more decentralised and autonomous web. Internet natives actively participate in building decentralised narratives, fostering inclusivity, and empowering individuals in digital spaces.

This transition aims to ensure a democratic and accessible online environment free from centralised control. Web4 envisions a future where individuals have more control over their data, privacy, and online experiences. It promotes collaboration, transparency, and user-centricity as foundational principles, enabling a more equitable and empowering digital landscape.

Security tokens: Advancing crypto’s potential

Security tokens play a crucial role in unlocking the full potential of the crypto market. By tokenising traditional financial assets such as stocks and bonds, security tokens have the potential to revolutionise traditional markets.

This democratisation of access to financial assets reshapes the investment landscape, allowing a broader investor base to participate in the crypto space. Security tokens provide fractional ownership, increased liquidity, and programmable functionality, enhancing the efficiency and accessibility of traditional financial instruments.

Also Read: UK implements stricter rules: Crypto airdrops and dree NFTs banned

Commodity trading with crypto: Expanding possibilities

The integration of cryptocurrencies into commodity trading markets introduces exciting new possibilities for investors. From oil to gold, crypto enables individuals to seamlessly trade popular commodities, providing greater flexibility and choice while reducing traditional barriers to entry.

By leveraging blockchain technology, commodity trading becomes more transparent, efficient, and accessible to a wider range of participants. This integration paves the way for a more inclusive and globalised commodity market, with cryptocurrencies acting as a bridge between traditional and digital assets.

Mainstream adoption: Defi and financial institutions

Decentralised finance (Defi) is gaining traction among mainstream financial companies. Banks, their clients, and family offices are increasingly allocating a significant portion of their assets to crypto. This mainstream acceptance solidifies the legitimacy and potential of Defi as an integral part of the financial ecosystem.

The integration of Defi into traditional finance offers opportunities for greater financial inclusivity, transparency, and efficiency. Collaboration between traditional financial institutions and Defi protocols will drive the development of innovative financial products and services, catering to the evolving needs of investors.

Final thoughts

In conclusion, embracing the disruptions brought about by artificial intelligence, CBDCs, decentralised governance, and other emerging trends will be essential for individuals and businesses to thrive in an ever-changing world.

By leveraging these transformative forces, we can unlock new opportunities, reshape traditional models, and shape a future that is both innovative and inclusive. The crypto industry is poised for continued growth and evolution, and those who adapt and embrace these trends will be at the forefront of this transformative journey.

The article highlights the insightful keynote speech I delivered at the Web3 Creator Summit, focusing on the crypto trends expected to shape the year 2024.

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The Radical Fund, an early stage venture capital firm investing in the climate tech sector, today announced that it has secured an undisclosed first close of its US$40 million fund. In a statement, the firm said that it is currently in conversations with family offices, corporates, foundations and institutional investors for its fund.

The fund is backed by regional family offices from the Philippines, Singapore, and Thailand, together with individual investors from the US and Europe.

It aims to invest in early stage startups in Southeast Asia (SEA) that are scaling solutions across climate adaptation and mitigation, which it believes will lead to a more resilient SEA.

It is targeting tech-enabled ventures in the pre-seed, seed, and Pre-Series A stages that are either based in SEA, and/or have operations and presence in the region. These startups should deliver scaled commercial returns and climate outcomes to local and regional populations.

In a press statement, The Radical Fund said that its investment “goes beyond traditional clean tech and climate tech verticals.”

Also Read: The Mills Fabrica aims to transform agrifood, textile industries through its climate tech investments

“The fund also backs scalable ventures that may not look like traditional climate businesses and have -or may potentially have- climate impact as part of their model and ethos. This includes companies across agriculture, food, circular economy, financial, and mobility or logistics and other sub-sectors.”

The fund plans to invest in more than 30 companies at ticket sizes of US$250,000-US$800,000.

The Radical Fund also delivers operational and technical hands-on support alongside equity-based capital.

The firm consists of a six-person team based in Bangkok and Singapore, with global team members in London and it is hiring team members in the Philippines, Vietnam and Indonesia.

The Radical Fund is part of the Utopia Capital Management (UCM) group of investment vehicles, which have supported over 130 early stage ventures across multiple emerging markets.

With a team of over 55 full-time experts, UCM has networks across Africa, Europe, SEA, and the US. Other vehicles include Founders Factory Africa and its related funds in Africa, which Alina Truhina and Roo Rogers have co-founded.

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Image Credit: The Radical Fund

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The cloud is a critical aspect of modern life; in fact, 94 per cent of enterprises use the cloud in some capacity.  More specifically, 48 per cent of businesses store their more sensitive data on the cloud, 50 per cent of businesses run their workloads on the cloud, and 92 per cent of businesses use more than one cloud system. 

According to recent research, there is over one exabyte of data stored in the cloud.  This is the equivalent of 1,073,741,824 gigabytes or over 67 million iPhones worth of data.

The challenges of limited cloud visibility

Unfortunately, 79 per cent of organisations report widening visibility gaps in their cloud infrastructure, as well as a lack of visibility across cloud operations.  There are several reasons for this limited visibility.  For one, modern cloud tools do not provide an end-to-end picture; apps stand in the middle of centralised tools, preventing information from moving directly from the source to the recipient.  

Additionally, most cloud monitoring tools focus on a singular service.  This forces data teams to gather and analyse data across several different siloes.  Similarly, developing a holistic picture is difficult when it has to be done across a larger network.  It is hard to track internal users, remote users, VPN users, and more. 

Also Read: Debunking misconceptions about FinOps and cloud spending reduction

Another cause of the lack of visibility is that basic tools cannot adapt to the constant evolution of the cloud.  To make matters more complicated, more than nine in ten larger organisations use multiple cloud providers.  Because there are no universal tools for all cloud platforms, organisations need to use separate monitoring tools for each cloud. 

There are problems with these monitoring tools as well; they often focus on security more than the big picture.  To deal with this, companies need to purchase more tools to piece together a big-picture image of the cloud, which adds excessive and unnecessary complexity.

Other factors that limit visibility include small retrieval windows that make it hard to determine what is happening on cloud-based platforms and the fact that native cloud tools are more focused on developers and cloud engineers rather than network engineers.  The latter factor makes it difficult for network engineers to understand problems and effectively solve them. 

Limited visibility leads to limited functionality.  This is a huge problem for many organisations, with nearly half of all companies witnessing performance issues as a result of cloud visibility problems.  

An example of limited functionality as a result of visibility problems is a lack of support for remote workers.  Another example is poor migration support; in fact, 74 per cent of companies fail to migrate successfully, which forces them to move certain tools back to on-premise solutions. 

Limited visibility leads to tech stack inflation and limited cost or consumption visibility.  Finally, it causes greater security risks; in fact, organisations report 3.3 times more incidents caused by a lack of visibility. 

Functionality problems result in blind spots.  For example, companies struggle with delays in troubleshooting application performance, inability to monitor performance workflows, delays in solving security issues, and much more.  

Also Read: Cloud communication platforms: How to choose one for your business

It is no surprise that with all of these problems, 80 per cent of organisations are looking to increase their investments in cloud monitoring and visibility.  One way to achieve this is through cloud monitoring.  Advanced monitoring solutions address many of the problems that currently exist. 

For example, they provide end-to-end visibility, whether it be on-premises, hybrid, or multi-cloud.  Cloud monitoring also reduces security risks, produces a lower mean time to resolution, increases business value, and reduces overspending.  

The role of cloud monitoring in enhancing visibility and functionality

Organisations tend to be on the same page when it comes to the importance of cloud monitoring.  In fact, 90 per cent of organisations say that automating visibility could improve security.  There are several companies that can help set up systems to improve visibility and security.  

Cloud monitoring systems eliminate the need to use new tools for troubleshooting and include interactive workflows, alerts, reports, and more.  They improve cloud data flow to provide a better picture of overall traffic flows and can also provide performance metrics.  Cloud monitoring systems hold a vast amount of solutions and tools within one platform, making them a good investment.

As technology continues to develop, it is important to adapt alongside it.  Keeping up with the cloud requires careful attention and innovation, as problems such as limited visibility can end up harming businesses that are trying to use the cloud.  Luckily, tools like cloud monitoring systems can make a big difference in keeping up with a changing cloud.

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In late June, Malaysia-based UrbanMetry was selected for the Technology Pioneers list by the World Economic Forum (WEF). The list includes 100 companies that WEF has selected annually to work with society’s foremost political, business and cultural leaders to address issues facing people and the planet.

In an email interview with e27, Koh Cha Ly, Founder and CEO of UrbanMetry, explains what being selected means to the company.

“Being named one of the 100 Technology Pioneers by WEF validates our unwavering commitment to transforming urban environments through innovative technologies. This motivates and will drive us to continuously push boundaries and effect positive change, ultimately making cities smarter, more sustainable, and better for everyone involved,” she explains.

UrbanMetry is a data analytics company with data coverage in the Southeast Asia (SEA) region. It is dedicated to providing solutions to help businesses, cities and governments make informed decisions through a unique combination of spatial data and advanced analytics.

Apart from the award from WEF, the company has recently made several important milestones. According to Koh, it has been on a strong growth trajectory, doubling the team size last year while also growing in revenue size and stream.

“We have also expanded our data provision to Thailand and Vietnam in the past two years and are actively seeking opportunities to expand to the Middle East and Indonesia,” she says.

Also Read: Unleashing Singapore’s smart city potential: A gateway to limitless opportunities

Solving big city problems with UrbanMetry

When asked about the problem that UrbanMetry is working on, Koh begins by highlighting the role that data analytics plays in solving problems in a typical urban setting.

“Currently, a lot of work and technology solutions globally are placed on data analytics to solve city problems. However, most businesses, startups and key stakeholders do not realise that there is a huge gap in the data quality of cities in developed and developing countries,” she says.

“As most developing countries do not have the quality data required, digitisation, data-driven policies, asset risk mitigation and all other technological advantages available to cities become out of reach. UrbanMetry’s solution bridges this crucial data quality gap for cities in developing countries to unlock the potential for city data to build better cities.”

UrbanMetry approached the problem by seeking and collecting fragmented and polluted data available in the market, merging it with private databases and doing multi-layer cross-validation to build out proprietary city databases for the cities it tracks.

“The principle of solution builds on city building and urban planning policies to understand the population behaviours. Our solution builds on technological advancement including machine learning, big data and satellite imagery to solve these data gap issues we see in countries that need them most,” Koh elaborates.

The company targets key stakeholders of city building including real estate developers, banks, financial institutions, regulatory agencies and government bodies as their customers. It acquires these customers through knowledge engagement sessions and also through word of mouth.

Also Read: How data science and AI are fuelling smart city goals

As a city data company that offers data-as-a-service, the revenue model that UrbanMetry implements varies across different clients and products. But according to Koh, broadly, they are categorised by the quantity of data provided, project-specific data provisions and subscription of periodic data updates.

“We develop the revenue model in accordance to the needs and objectives of our clients that often differ across industries,” Koh stresses.

UrbanMetry has raised a Pre-Series A funding round with Monk’s Hill Ventures. Its earlier investors include 500 Global, 500 Southeast Asia, and Reapra.

In 2023, the company aims to pilot several B2C products that aim to leverage its city database to citizens in the city.

“The vision for these products is to help end customers utilise the database we have built to make better, safer and more sustainable decisions whilst investing in the city,” Koh says.

“Our newest solution UrbanVault aims to open up mortgage opportunities for the digital natives in a secure and modern manner while understanding the risks of buying a home. In the second half of 2023, we plan to roll out other B2C products to realise the full potential of our city databases in Southeast Asia,” she closes.

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Image Credit: UrbanMetry

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Empowering and emboldening talents in science, technology, engineering, the arts, and mathematics (STEAM) is crucial, especially now as we move closer towards a digital future. Cultivating spaces that not only nurture these talents but also foster collaboration across various disciplines is becoming increasingly important as they are necessary components when it comes to spurring innovation and meaningful social impact.

Leave a Nest, a leading science and bridge communication company in Japan founded by a group of science and engineering researchers in 2002, aims to advance science and technology for global happiness. Their core mission is to create value by bridging gaps in science through communication. For years, the organisation has been working on knowledge manufacturing to develop science and technology initiatives that benefit society. The Tsunagu program is initiated by Leave a Nest Co., Ltd. and has gathered subsidiaries in Singapore, Malaysia, and the Philippines to join forces to bring this program.

In its aim to enable science and technology developments and implement relevant applications to benefit society and realise a better collective future alongside various educational institutions, researchers, and companies that share the same philosophy, Leave a Nest has partnered with the National Institute of Education (NIE), an autonomous institute of Nanyang Technological University in Singapore that is one of the top-ranked institutes globally for education, and is the sole teacher education institute for teachers in Singapore.

Knowledge manufacturing across the business landscape

Leave a Nest works on what they call “Knowledge Manufacturing” with knowledge of science and technology and deploys its relevant applications to benefit society. In collaboration with various companies, educational institutions, and researchers, with a shared philosophy. The organisation focuses on various areas that aim to create businesses and promote projects relating to education development, STEAM talent and research development, as well as research and business linkages for technology transfer and new business creation.

One of its initiatives that embody this mission is the Tsunagu Research Project, an online and hybrid platform to foster rigorous scientific knowledge-sharing in the next generation. The theme for this year’s run is “Natural Resources: Water and Food” which is a familiar topic in the host country Singapore for this year’s program, and which seeks to involve young talents in addressing issues pertaining to resources.

By promoting research collaboration among junior and senior high school students around Asia through an eight-month program, the initiative seeks to harness the power of research, science, and technology. Students from Japan, Malaysia, the Philippines, and Singapore — sites of Leave a Nest’s subsidiaries — will work together to identify issues related to water and natural resources and formulate research that will lead to solutions that address these issues. Leave a Nest is also open to accepting applications from other ASEAN countries.

The youth as catalysts for innovation

This innovation-related program for the youth aims to forge newfound ways of research where students can make a difference in their communities by being involved in hands-on research projects. They will also be benefiting from personalised mentoring, as well as connections to the broader stakeholders in the science and technology ecosystem, including innovative companies and science experts in the region.

This opportunity provides a space to share knowledge and collaborate with other young STEAM leaders in the region, and create meaningful connections with like-minded people. 

The program also showcases that STEAM education is not only related to subjects learned in the classroom but can also be a powerful method for applying subject learning to solve real-world challenges. Once the research phase is completed, the knowledge can be shared with educators, and Leave a Nest can create better and more effective programs in the future in collaboration with educational institutions.

Solving real-world problems

Kihoko Tokue, Managing Director of Leave a Nest Singapore, shared with e27 how highly important teamwork and cross-disciplinary cooperation are in research and in STEAM-related education, and how crucial it is to expose talents to this practice early on. “Many of the issues we face nowadays cannot be overcome with just one person or one indsutry working on it. In order for us to have a better chance of overcoming these issues, teamwork and cross-disciplinary collaboration are crucial. Leave a Nest wants to bring NEST (Nature Engineering Science and Technology) to society in the best way possible. Thus, this program should help us provide better and improved programs in the future”.

The Tsunagu Research Project host country for 2023 is Singapore, and students from Japan, Malaysia, the Philippines, and Singapore will be working together to identify environmental resource issues and formulate research that will lead to innovative solutions.

Through this, Tsunagu continues to be a space for research collaboration by junior and senior high school students around Southeast Asia. This collaboration aims to evaluate the effectiveness of STEAM education through the Tsunagu Research Project. With this partnership, the goal to foster scientific thought in the next generation and promote research collaboration by junior and senior high school students around Asia can be bolstered further.

Interested? Visit the Tsunagu Research Project 2023 website for more information: https://tsunagu.lne.st/

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Photo by MART PRODUCTION via Pexels

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This article is produced by the e27 team, sponsored by Leave a Nest

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