TikTok’s suspension of its online shopping service in Indonesia to comply with the new regulations will unlikely harm the Indonesian e-commerce market as players will adapt accordingly, according to Adrian Li, Founder and Managing Partner of AC Ventures.

New regulations effectively ban e-commerce transactions on social media platforms, preventing users from buying or selling goods on apps like TikTok and Facebook. Social media platforms cannot directly facilitate sales, sell imported items priced under US$100, and act as producers or manufacturers.

Also Read: Indonesia needs more female investors willing to back female founders: Helen Wong of AC Ventures

Foreign goods have recently become more accessible in the country through social media platforms.

The move came shortly after President Joko Widodo called for stricter social media regulations, saying that the influx of such platforms has contributed to declining domestic business sales by flooding the market with foreign imports. Trade Minister Zulkifli Hasan said firms that do not comply with the ban on goods transactions would first be warned and then lose their license to operate in Indonesia if they fail to comply.

“Merchants who set up accounts on TikTok and ship goods from overseas without paying taxes could harm the local economy,” said Li in a podcast with AC Ventures’s Head of Communication Leighton Cosseboom.

While complying with regulations is its priority, TikTok voiced concerns over the impact on six million sellers and nearly seven million affiliate creators currently using TikTok Shop. Indonesia, with a population of more than 270 million, is home to 125 million TikTok users, and it’s the app’s second-largest market in the world.

One possible solution for TikTok to overcome the ban would be establishing a separate sales app. However, Sachin Mittal, Head of TMT Research at DBS Bank, recently warned that because most purchases on TikTok are impulse buys, the need to log into a separate app might lead to a high drop-out rate.

Indonesia’s e-commerce market is currently dominated by names such as Tokopedia, Shopee, and Lazada, but TikTok Shop has expanded rapidly since its launch in 2021 and gained significant market share.

Also Read: ‘Indonesia will soon see a proper credit boom for businesses, consumers’: AC Ventures

Overall, online sales in Indonesia have surged in recent years. The value of e-commerce is expected to increase more than sixfold between 2018 and next year, reaching around US$44 billion, according to the country’s central bank.

Li also questioned whether TikTok had stimulated this growth or simply eroded market share from other players. “My sense is that they probably haven’t significantly accelerated market expansion, and even if they did, it would likely be marginal,” he said, adding that Indonesians tend to adopt social media and internet products relatively quickly. Therefore, some consumers might have shifted to TikTok, affecting the existing e-commerce incumbents.

The regulation also prevents e-commerce marketplaces from manufacturing and producing their own white-labelled goods to compete with merchants who list their products. “I think that is very valid. Can you imagine Shopee or Tokopedia having their own merchants that compete with third-party sellers on their platform and being able to use their superior market competitive information and intelligence?” he asked.

He added that at some point, TikTok likely considered manufacturing white-labelled goods in China and selling them directly in the Indonesian market, giving the platform an advantage over local players. He drew a parallel with Amazon Basics, Amazon’s private-label brand.

Also Read: Wealthtech, insurtech, SaaS fintech are the new hot verticals in Indonesia: AC Ventures report

Leighton agreed that Indonesia should learn from the experiences of the West, such as the case of Amazon, to establish checks against the potential development of a monopoly.

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Picture this: Anna, a passionate startup founder, finds herself stuck in a never-ending cycle of work. Her startup is growing, but so is her workload. She’s heard of the “Leverage Gap,” this mystical space between grinding day-to-day and achieving long-term success.

Intrigued, she dives into the world of neuroscience to find the missing link. What she discovers changes her startup’s trajectory forever.

Act 1: The Leverage Gap dilemma

Anna’s startup is like many others — full of potential but tethered to time-bound output. She stumbles upon the concept of the Leverage Gap and realises she’s been focusing on short-term gains, bypassing her brain’s rational decision-making centre, the prefrontal cortex.

Use neuroscience-backed techniques like mindfulness to make better decisions.

By practising mindfulness, Anna learns to pause and evaluate her choices, aligning them with her long-term goals. This simple shift in mindset helps her make decisions that serve as stepping stones to leverage.

Act 2: The emotional quotient

Anna notices that her team’s communication is less than stellar. Conflicts arise, and productivity suffers. She learns about the amygdala, the brain’s emotional centre, and realises the untapped leverage in emotional intelligence.

Invest in emotional intelligence training for your team.

Anna introduces emotional intelligence workshops. The team starts understanding their emotional triggers and those of their colleagues. Communication improves, conflicts decrease, and productivity soars. Emotional intelligence becomes their newfound leverage.

Act 3: The dopamine revelation

Anna reads about dopamine, the “feel-good” neurotransmitter that’s key to motivation. She understands that her team’s focus on short-term rewards has been a roadblock to acquiring long-term leverage.

Implement a reward system that focuses on long-term goals.

Also Read: 10 essential steps to unlock your neuroscience-backed leadership mindset

Anna sets up a reward system that celebrates long-term achievements. The team’s focus shifts from immediate gains to sustainable growth. Dopamine now serves as a catalyst for long-term leverage, not just short-term satisfaction.

Act 4: The 35-hour workweek epiphany

Anna comes across a study stating that productivity dips after 35 hours per week. Intrigued, she correlates this with neuroscience findings on how stress impairs cognitive functions.

Limit work hours to optimise productivity.

Anna experiments with a 35-hour workweek. The team initially resists, but soon, they find that they’re achieving more in less time. The constraint forces them to focus on leverage—automating tasks, delegating, and prioritising. The Leverage Gap starts to close.

The transformation

Armed with neuroscience insights, Anna transforms her startup. They’re no longer just surviving; they’re thriving. The Leverage Gap is bridged, and the startup sails smoothly towards long-term success.

Further reading:

• Your Brain at Work by David Rock
• Deep Work by Cal Newport
• The 4-Hour Workweek by Timothy Ferriss

So, if you find yourself, like Anna, stuck in the Leverage Gap, remember that neuroscience holds the key to not just surviving but thriving in the startup world. Your brain is your best ally in this journey; you just need to know how to leverage it.

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Women in tech often face challenges in accessing funding and opportunities. Several factors contribute to this funding gap, such as:

• Bias and discrimination: Investors may have preconceived notions about women’s ability to lead or succeed in tech-related ventures, impacting their willingness to invest.
• Perceived risk aversion: Investors might perceive women-led startups as more risk-averse and less likely to achieve significant growth, resulting in lower investment amounts.
• Lack of female investors: The scarcity of female investors in venture capital firms can impact funding for women-led startups. Female investors may better understand the unique challenges and potential of women-led ventures, and their presence can lead to more equitable investment decisions.

At She Loves Tech, we disable these inhibitors using programmatic solutions and giving startups access to funding and global opportunities. Our goal is clear: She Loves Tech aims to unlock US$1 billion in capital by 2030.

She Loves Tech is a global platform committed to closing the funding gap for women in tech and women-impacted tech solutions. We run the world’s largest startup competition for women and technology across 76 countries on six continents and hold the largest database of women tech entrepreneurs. Over 13,000 startups globally have been through our programs since our inception in 2015 and have engaged with our 700+ partners network dedicated to building a robust and global ecosystem.

Balancing technology and humanity

The She Loves Tech Conference 2023, happening on October 26th and 27th in Singapore, is Asia’s flagship conference for women and technology. We are building the “CES for Women” and uniting world leaders, Nobel Peace Prize winners, industry luminaries and visionaries on an international stage to inspire action for current and future generations.

Our theme this year is “Metamorphosis: Exploring the intersection between technology and humanity”.

Also Read: She Loves Tech earmarks US$10M for women-led firms, joins hand with Microsoft

We aim to bring together founders, funders, corporations and governments to explore how technology can impact humanity amidst conflicting agendas. This conflict between technology and humanity arises from the tension between the rapid advancement of technology, such as AI and data collection, and its impact on various aspects of human life, society, and the natural world, including privacy and surveillance, depersonalisation and social isolation, health and well-being, environmental impact and ethical dilemmas.

Addressing these conflicts requires careful consideration, ethical frameworks, policy regulations, education, and a conscious effort to align technological advancements with the well-being and values of humanity. Balancing progress with ethical responsibility is crucial for a harmonious integration of technology into society.

Exciting keynote speakers

Our conference line-up of over 80 speakers includes Jeanne Lim, Co-Founder and CEO of beingAI and the co-creator of Sophia the Robot, alongside Gaurav Keerthi, Co-Founder and ex-Deputy Commissioner of Cybersecurity for Singapore better.sg and Dr. Miriam Meckel, Co-Founder and CEO ada learning, will debate the meteoric rise of AI and if it will make humans obsolete.

With OpenAI seeking a valuation close to US$90 billion, AI looks set to take the world by storm, so how worried should humans be?

Nir Eyal, author of two bestselling books, Hooked: How to Build Habit-Forming Products and Indistractable: How to Control Your Attention and Choose Your Life, will address the current distraction crisis and share memorable strategies on how to stay productive and sane in an age of ever-increasing demands on our attention. Rather than blaming tech for our troubles, Eyal dives into the root causes of distraction, exposing the surprising truth behind why we tend to go off track.

Also Read: Singapore recognises top 100 women in tech making waves in the industry

In our Investing In Winners fireside chat, She Loves Tech’s content chief Sharon Lim engages Jenny Lee, a trailblazer in Asia’s venture capital industry and the first woman to crack the Midas List top ten in 2015. Lee is a managing partner of GGV Capital, a US venture firm, which announced recently it will spin off its Asia business. Her portfolio of investments includes unicorns Xiaomi, Alibaba and Grab. Join us to hear her share critical insights into the challenges and opportunities in the future of fundraising.

One of the key highlights at the conference will be the global startup competition finals — where 30 winners, out of thousands of applications coming from 110 countries, have emerged and will fly down to battle it out for the ultimate startup competition. This is a great opportunity to see groundbreaking pitches from around the world.

Past winners include Musiio SLT2018, an artificial intelligence company at the forefront of machine learning technology, which was recently acquired by SoundCloud, Tezign SLT2016, a Chinese marketing solutions platform that hit Unicorn status led by Singapore state-owned investment company Temasek Holdings and Aquaculture vaccine developer TeOra SLT2020 who just won SG$1 million in grant funding at the grand finale of The Liveability Challenge 2023.

According to Founder Dr. Rishita Changede “She Loves Tech provides recognition to underrepresented startups and gives them exposure that is timely and effective. Along with the training sessions, She Loves Tech was the first platform that recognised our work in food sustainability and brought meaningful connections to us, and for that, we will always be grateful”.

Get your tickets for the She Loves Tech global conference 2023

We invite all of you to join us and be part of our growing ecosystem as we build on the opportunities for tomorrow. All e27 readers have a special discount code SLTE2715. Get your tickets today here.

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The Science Fund, a Kazakhstan national scientific and technological development institute, signed a Memorandum of Understanding with Southeast Asian VC firm Quest Ventures to bolster the country’s startup and innovation ecosystem.

The collaboration will leverage their combined expertise and resources as well as strengthen linkages between the public and private sectors.

Also Read: Quest Ventures invests in robotic prosthetics startup Vulcan Augmetics

The Science Fund will leverage the extensive international network of Quest Ventures for research commercialisation while Quest Ventures will draw from a deep pool of top scientific talent and ideas.

The MOU was signed in Astana between Abdilda Shamenov, Chairman of the Board of the Science Fund, and James Tan, Managing Partner of Quest Ventures.

Shamenov said: “With a significant presence in Singapore and across Asia, Quest Ventures brings valuable international experience, best practices and an extensive network that aligns with our key goals of strengthening the local technology commercialisation and venture capital ecosystem.”

Tan added: “As the startup and innovation hub for Central Asia, Kazakhstan has produced many game-changing ideas for the region, and more will come. The Science Fund’s pool of resources is testament to the quality of research and defensibility of businesses that can be created.”

Also Read: NDC joins forces with Quest Ventures to bolster startup ecosystem of Philippines

The Kazakhstan Science Fund is the national institute for development, contributing to the full scientific and technological cycle from idea to commercialisation. Its mission is to build a knowledge-based economy by assisting scientists and entrepreneurs in scientific research and its commercialisation.

Quest Ventures is an active VC firm with over 100 portfolio companies in more than 150 cities across Asia. Its portfolio companies include 99.co, Carousell, Carro, Glife, Hepmil/PGAG, Oddle, Shopback, VulcanPost, Xfers, and Kraver’s Canteen.

 

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AMODA, a property and construction technology startup in Indonesia, has secured undisclosed seed funding in a round co-led by East Ventures and Living Lab Ventures.

The capital will be mainly allocated to expanding its product, technology, and operation capabilities.

Also Read: PropertyGuru ceases the operations of its Indonesian marketplace Rumah.com, SaaS product FastKey

“This seed funding round will propel us forward as we continue to revolutionise Indonesia’s property and construction landscape. We are confident to continue our journey in creating innovative, adaptable, as well as environmentally friendly spaces that empower businesses and individuals,” said Co-Founder and CEO Robin Yovianto.

This round follows AMODA’s pre-seed funding in 2022.

Founded in October 2021 by Yovianto and Agusti Salman Farizi, AMODA aims to enhance the process of construction, “making it 2x faster, cheaper, and more transparent”. It uses cloud manufacturing and prefabrication technology to build solutions for individuals and businesses in Indonesia, from SMEs and high-growth firms to large enterprises.

AMODA provides a dashboard with thorough and transparent pricing, construction, and leasing information.

Since its inception, AMODA claims to have recorded at least 4x revenue growth year over year. The company has a portfolio of over 200 construction assets, collaborating with over 50 contractor partners nationwide and engaging with more than 30 landowners.

Also Read: Proptech firm SIMPPLE lists on Nasdaq, looks to raise US$8.4M

AMODA is based in Jakarta and Bandung with a team of 30 members. By Q3 2024, it aims to collaborate with over 30 manufacturing partners, 100 SME suppliers/distributors, and 150 contractor partners.

Living Lab Ventures is a sector-agnostic corporate VC firm focusing on high-potential companies with strong synergy to corporate core business. Since its inception in 2021, it has invested in 30 companies.

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How does one approach consumerism through an environmentally friendly lens? Is responsible consumption even possible? According to Stephanie Dickson, founder of Green Is The New Black and The Conscious Festival, the answer is positive.

“Most of us are not walking around naked or barefoot everywhere. Adopting an environmentally friendly approach to consumerism is not only possible but essential in today’s world. While we all need various goods and products in our lives, the choices we make on a daily basis and with our wallets have a ripple effect, and there are options that are better for us, the planet and quite often our wallets,” she explains in an email interview with e27.

She elaborates further by stressing that reducing consumption begins by using the most sustainable option at hand, which includes using goods that are already in our possession or embracing the second-hand movement. Even if consumers need to make new purchases, they have to opt for ethically made products.

We reach out to Dickson fresh out of the seventh edition of The Conscious Festival, an event held on October 13-15 in Singapore to promote a sustainable lifestyle.

According to her, the event aims to do things differently by “constantly pushing the edge of what’s possible, both from a sustainability forefront (the event is almost zero waste, plant-based, carbon negative), and an experience forefront (diving into of-the-moment conversations such as AI and its role in solving for sustainability, regeneration and its importance for our future, and from grassroots change to global impact).”

She answers our biggest questions on consumerism and sustainability.

What factors make a “responsible consumption”?

Responsible consumption encompasses several key factors that prioritise the well-being of both people and the planet. Firstly, it involves products that are produced with ethical considerations along the entire supply chain, ensuring fair wages and safe working conditions for all involved.

Also Read: 

Secondly, responsible consumption focuses on minimising the environmental impact of the products we use, which includes factors such as reducing energy and resource consumption, limiting waste, and utilising sustainable materials. Lastly, as individuals, responsible consumption means only acquiring what we genuinely need, avoiding excessive purchases of items that won’t last and do not bring lasting joy. It involves a conscious effort to make choices that benefit both ourselves and the world we live in.

How do we promote this new approach to consumers and businesses?

One of the biggest issues is that the environmental and social costs are not factored into products and services. Governments, industries and citizens need to work together for this. There is more and more pressure from consumers, the government is slowly rolling out regulations, and businesses need to play their role.

We’re at a point where being sustainable isn’t just a nice to have, it makes business sense. The economics are there, and it is also future-proofing. Education still plays a very big role for consumers.

What limitations do we have when it comes to running a business in a more eco-conscious way? How do we deal with it?

Transitioning to eco-conscious practices can initially involve higher costs for sustainable materials, technologies, and certifications. It’s important to consider the long-term benefits, such as reduced energy and resource consumption, and appeal to eco-conscious consumers who may be willing to pay a premium for sustainable products.

Depending on the industry, there are grants and incentives for businesses that are doing green initiatives. There is a lack of awareness, and education is required – many employees and consumers may not fully understand the importance but educating consumers through marketing campaigns and product labels and explaining the environmental and economic benefits of the choices to employees will help.

Running an eco-conscious business requires commitment, adaptability, and a long-term perspective. By addressing these limitations strategically, you can overcome obstacles and make meaningful progress toward a more sustainable and environmentally responsible business model.

Today’s consumers are known to be more environmentally aware and selective in purchasing products and services. How can businesses reach out to these customers without greenwashing their products? What are the ways they can do differently when it comes to user acquisition?

One of the most important things is transparency about your sustainability efforts and practices. Provide detailed information about your products, sourcing, supply chain, etc. Authenticity builds trust with consumers and helps differentiate your brand from competitors.

Also Read: 

It is encouraged to share what efforts have been made, what has worked, what hasn’t, and where you are heading. Third-party certifications can provide independent assessments and support with credibility. Explaining the efforts in a clear, conscious and engaging manner can support without over-emphasising the efforts. Sharing honestly and openly about successes and shortcomings helps to foster trust and a clear path forward.

What other areas do you aim to explore in building an eco-conscious business?

We have our Conscious Leaders Bootcamp on Friday, October 13, which takes leadership to a whole new level by infusing it with the power of regeneration and conscious awareness.

This event will bring together the builders of the future to deep dive into symbiotic leadership, regenerative cities, exponential change and solving for sustainability with AI. This aims to help leaders to understand the role they are playing and give them the tools they need to navigate in a different way – by understanding the ecosystem of their company and getting inspired by what other leaders are doing with circular and sustainable solutions while uplifting everyone around them.

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Image Credit: Green Is The New Black

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The US faces a debt crisis that threatens to undermine its economic stability and global leadership. The national debt has surpassed US$30 trillion, and interest payments are projected to become the largest expenditure by 2051, surpassing even Social Security.

The debt-to-GDP ratio is expected to rise to 136 per cent by 2028, a level that many economists consider unsustainable. The causes of this fiscal imbalance are manifold, but they include wars, recessions, tax cuts, pandemic relief, and infrastructure spending. The consequences could be dire, as the US could face higher borrowing costs, lower growth, reduced public investment, and diminished credibility.

In this context, the crypto industry offers a potential alternative to the traditional financial system, one that is more decentralised, transparent, and innovative. Crypto assets, such as Bitcoin and Ethereum, are powered by blockchain technology, which allows for peer-to-peer transactions without intermediaries.

Crypto platforms, such as Coinbase and Binance, provide users with access to a variety of digital assets and services, such as trading, lending, staking, and gaming. Crypto enthusiasts argue that crypto can empower individuals, foster innovation, and create new economic opportunities.

However, the crypto industry also faces significant challenges, especially in the US. The regulatory environment for crypto is unclear, inconsistent, and hostile. The Securities and Exchange Commission (SEC) has sued several crypto platforms, such as Coinbase and Binance, for allegedly operating illegally as brokers, exchanges, and clearing agencies without proper registration.

The SEC has also rejected numerous proposals for crypto exchange-traded funds (ETFs), which would provide investors with easier access to crypto assets. The SEC claims that it is protecting investors from fraud and manipulation, but many in the crypto industry accuse it of stifling innovation and creating uncertainty.

Coinbase, the largest crypto exchange in the US with over 100 million customers and billions of dollars in daily trading volume, has launched a campaign to bring regulatory clarity to the crypto industry in the US.

The campaign, dubbed “Stand With Crypto,” urges the 52 million Americans who own crypto to contact their government representatives and push for an overhaul of the financial system and a clear regulatory framework for digital assets.

Coinbase argues that the current “enforcement only” approach by the SEC is putting jobs, innovation, and global leadership at risk. Coinbase calls for legislation that allows fair rules for the road to be developed transparently and applied equally.

They are also expanding their presence in other jurisdictions that have more favourable regulations for crypto. Coinbase announced that it obtained registration with the Bank of Spain to act as a crypto exchange and custodian wallet provider.

Also Read: Navigating the evolving landscape of blockchain regulation in the metaverse era

This follows similar registrations in Germany and Ireland earlier this year. Coinbase said that it is “encouraged” by regulatory developments in the European Union and UK and will continue to invest in Europe and the UK. Coinbase hopes to offer its customers more products and services in these markets, such as crypto ETFs.

Coinbase is not alone in seeking regulatory clarity and diversification. Many other crypto platforms are looking outside the US for growth opportunities. For instance, Binance has established regional subsidiaries in Singapore, Australia, Jersey, Uganda, and Brazil. Kraken has applied for a banking license in Wyoming. Gemini has partnered with a UK bank to offer crypto savings accounts.

The US government should take note of these developments and reconsider its approach to crypto regulation. The US has the potential to be a leader in the crypto space, but it risks losing its competitive edge if it continues to stifle innovation and create uncertainty.

The US should embrace crypto as an opportunity rather than a threat and work with the industry to create a balanced and clear regulatory framework that protects investors while fostering innovation. The US should also address its debt crisis before it becomes too late and hard. Crypto could be part of the solution rather than part of the problem.

How crypto can help solve the debt crisis

Crypto can help solve the debt crisis in several ways. First, crypto can provide an alternative store of value and hedge against inflation. As the US government prints more money to finance its spending, the value of the dollar could decline, and inflation could rise.

This would erode the purchasing power of savers and investors and increase the cost of living. Crypto assets, such as Bitcoin, have a limited supply and are not controlled by any central authority. They can preserve their value and offer protection against currency devaluation and inflation.

Second, crypto can enable more efficient and inclusive financial services. The traditional financial system is plagued by high fees, slow transactions, intermediaries, and barriers to entry. Many people are unbanked or underbanked, meaning they lack access to basic financial services, such as savings, credit, and insurance.

Crypto platforms, such as Coinbase, Bybit and Binance, can offer low-cost, fast, and secure transactions without intermediaries. They can also provide access to a variety of digital assets and services, such as lending, staking, gaming, and NFTs. Crypto can empower individuals, especially those in developing countries or marginalised communities, to participate in the global economy and improve their financial well-being.

Also Read: Women In Blockchain Asia takes bold steps to boost diversity, inclusion in the industry

Third, crypto can foster innovation and growth. The crypto industry is one of the most dynamic and creative sectors in the world. It attracts talent, capital, and ideas from diverse backgrounds and disciplines.

It constantly experiments with new technologies, protocols, and applications. It creates new markets, products, and business models. Crypto can drive innovation and growth in other industries as well, such as energy, healthcare, education, and entertainment. Crypto can also generate tax revenues and jobs for the US government and economy.

Final thoughts

The US is facing a debt crisis that could have serious consequences for its economic stability and global leadership. The crypto industry offers a potential alternative to the traditional financial system, one that is more decentralised, transparent, and innovative.

However, the crypto industry also faces significant challenges in the US due to unclear, inconsistent, and hostile regulation. Coinbase has launched a campaign to bring regulatory clarity to the crypto industry in the US and has expanded its presence in other jurisdictions that have more favourable regulations for crypto.

The US government should take note of these developments and reconsider its approach to crypto regulation. The US should embrace crypto as an opportunity rather than a threat and work with the industry to create a balanced and clear regulatory framework that protects investors while fostering innovation.

The US should also address its debt crisis before it becomes too late and hard. Crypto could be part of the solution rather than part of the problem.

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On September 28, 2023, a panel discussion on on-chain data and Web3 security was held at the Singapore Management University (SMU).

The panel was moderated by Prof. Feida Zhu, a professor of information systems and co-director of the SMU Blockchain Lab.

The panellists were Aby Huang, CEO of SlowMist, a leading blockchain security company; Neal, CEO of BugRap, a decentralised bug bounty platform; Anndy Lian, advisor of Bybit, a global cryptocurrency exchange; and Xiaolin Wen, a research scientist at SMU.

The panellists shared their views and experiences on how on-chain data analytics can help improve the security measures of blockchain networks, detect and prevent fraud and security breaches, identify and mitigate vulnerabilities in Web3 applications, and communicate the results of data analysis to users and decision-makers.

How can on-chain data analytics help improve the security measures of blockchain networks?

On-chain data analytics refers to the process of collecting, processing and analysing data that is stored on the blockchain. On-chain data can provide valuable insights into the behaviour, performance, and security of blockchain networks.

Huang explained that on-chain data analytics can help improve the security measures of blockchain networks by providing real-time monitoring, risk assessment, and alerting. He said that on-chain data analytics can help detect anomalies, such as abnormal transactions, contract calls, or gas usage, that may indicate potential attacks or vulnerabilities.

He also said that on-chain data analytics can help assess the security level of smart contracts, tokens, dApps, and protocols using various indicators, such as code quality, audit results, governance mechanisms, and community trust.

Neal agreed that on-chain data analytics can help improve the security measures of blockchain networks by providing transparency and accountability. He said that on-chain data analytics can help verify the correctness and integrity of smart contracts and transactions using cryptographic proofs and consensus mechanisms. He also said that on-chain data analytics could help incentivise good behaviour and deter bad behaviour using economic models and game theory.

Also Read: Industry veteran Marc Mercuri on how blockchain revolutionises gaming for players, creators

Lian added that on-chain data analytics can help improve the security measures of blockchain networks by providing feedback and improvement. He said that on-chain data analytics can help measure the performance and efficiency of blockchain networks by using metrics such as throughput, latency, scalability, and cost. He also said that on-chain data analytics can help identify the pain points and bottlenecks of blockchain networks by using benchmarks and comparisons.

Wen concluded that on-chain data analytics can help improve the security measures of blockchain networks by providing intelligence and innovation. He said that on-chain data analytics can help discover new patterns and insights from blockchain data using advanced machine learning, natural language processing, and graph analysis.

He also said that on-chain data analytics can help create new solutions and applications for blockchain security by using interdisciplinary approaches such as cryptography, software engineering, and human-computer interaction.

How on-chain data analytics can help with the early detection of fraud or prevent security breaches?

The panellists shared some examples of how on-chain data analytics can help with the early detection of fraud or prevent security breaches in the blockchain space.

Huang said they actively monitor and investigate hacking incidents in the blockchain ecosystem. They have a comprehensive security monitoring system that protects their clients from past and future incidents. SlowMist assisted in many security breaches, including the recent incident with Mixin involving US$200 million of crypto assets.

Anndy Lian added that education is the key. Not many people know about crypto. They certainly do not understand how to secure their platforms and assets better. He also mentioned that platforms like SlowMist should reach out to more users to let them know they have a free live monitoring system that could save them from losing millions.

Also Read: Blockchain beyond borders: A dive into global collaboration and innovation

Zhu predicted that with advances in on-chain analytics, Web3 security measures will evolve in several aspects. He said that Web3 security measures will become more proactive than reactive, meaning that they will focus more on preventing attacks than responding to attacks after they happen.

He said that Web3 security measures will also become more adaptive than static, meaning that they will adjust to changing conditions and threats rather than relying on fixed rules and parameters. He said that Web3 security measures will also become more collaborative than isolated, meaning they will involve more coordination and cooperation among different stakeholders rather than relying on individual efforts.

Conclusion

The panellists agreed that on-chain data analytics has unique advantages in transaction intent discovery because it can leverage the rich and diverse data available on the blockchain. They said that on-chain data analytics can use various techniques such as graph analysis, network analysis, community detection, and link prediction to analyse information from the transaction data, such as the relationship, structure, or dynamics of the transaction network.

They said that on-chain data analytics can also use various techniques such as game theory, behavioural economics, social psychology, and decision theory to understand information from the transaction data, such as the strategy, preference, or emotion of the transaction participants.

This event was organised by Moledao and was held in conjunction with an MOU signing with SMU and SlowMist.

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17 years ago, I stopped working for big, established conglomerates and took a job working for what I thought was an unknown US company with offshore operations in the heart of Ortigas. That was when I first heard the term “startup”. 

Almost two decades later, I got exposed to thousands of startups’ fundraising deals, especially after I founded FullSuite nine years ago. As money comes and goes into the startup’s war chest, one question remains consistent: “How will the money actually get spent?” Or, when startups are nearing the end of their runway, “Where did the money go?”

In love, as it is in business, there is no one-size-fits-all roadmap to success. An accountant at heart, I always gravitate towards the hows and whys. Why do most startups crash and burn, even after raising a lot of funds? How on earth did they burn through all that money?

The twists and turns on my journey in the startup world led me to a single epiphany: Capital allocation is the invisible hand that steers any business venture towards success or failure. 

Also Read: This founder’s story is the only optimism you need amidst the upcoming tech slowdown

While many view capital allocation as a science, it is, in fact, an art, one governed by principles rather than hard and fast rules. Below are my top five takeaways, influenced by what I learned, having seen thousands of startups raise funds only to crash and burn, leaving a chosen few thriving and eventually exiting.

#One: Practice visionary investment

Strategically allocate funds to initiatives that align with the company’s long-term vision.  Though there are many ways to skin the cat, not all are cost-efficient. Focus on investing your early funding proceeds into serving a niche sector of your target market versus trying to speak to a wide customer base.    

In its earliest days, Slack initially targeted tech-savvy teams and developers before expanding to a broader audience. This focus allowed them to establish a strong foothold within the tech industry, and from thereon, they expanded to various other sectors. The same holds for Dropbox, as it started by targeting tech enthusiasts and early adopters, offering a solution for easy file sharing. Their initial user base provided valuable feedback and insights, allowing them to refine their product before reaching a wider market. 

In both instances, they focused on improving their product and services to a niche target audience, protecting their capital from being spent on initiatives that would otherwise spread them thin if they tried to capture a larger set of customer persona.

#Two: Balance risk and reward

Every decision in business involves a tradeoff. It’s essential to tread a path where costs can be measured effectively, allowing you to maximise your resources. For example, if your organisation is remote, hiring talents from low-cost countries for non-core activities can be a strategic way to stretch your budget further. Balancing risk and reward is not about avoiding risk altogether but making calculated decisions that align with your overall business strategy.

For example, Robinhood introduced commission-free trading, aiming to make investing accessible to a wider audience.  While challenging the conventional revenue model of brokerage firms was risky, Robinhood’s user-friendly platform and gamified approach attracted a new generation of investors.  

#Three: Timing matters

In the fast-paced world of startups and entrepreneurship, timing can be everything. Being mindful of where you invest your time and resources is critical. Prioritising “must-haves” over “nice-to-haves” ensures you don’t exhaust your resources on peripheral features or technologies before hitting product-market fit. Such precision in timing can make or break your business growth.

Timing is best seen in the ride-hailing industry. When Grab first launched in the Philippines, it did so as GrabTaxi, focusing on taxi-hailing at a moment when traditional taxi services were facing criticism for price gouging, bad service, and other issues. Only several years later did the company launch its ride-hailing service with private cars, which was also timed well. More Filipinos had disposable income to spend on ride-hailing and the need for convenient and clean transportation in urban areas. By launching both services with impeccable timing, Grab quickly became the market leader. 

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#Four: Make data-driven decisions

Measurement is the first step towards improvement. Gaining insights into where and how your capital gets spent enables better spending behaviour. Analysing data to evaluate the need for investments, such as productivity monitoring tools, can save unnecessary expenses. Embracing a data-driven culture promotes a proactive approach to decision-making, where choices are rooted in facts rather than assumptions.

Netflix is one of the businesses where its operation is driven almost entirely by data insights. It uses data analytics to analyse user behaviour, preferences and content consumption patterns to personalise recommendations and optimise content production. On the other hand, Instacart employs data to optimise grocery delivery routes, enhance supply chain efficiency and provide personalised shopping recommendations for users.  

In both cases, making sense of the data available and allowing it to be an integral part of their decision-making allows these companies to smartly allocate capital to initiatives that can provide the highest probable upside.

#Five: Synergise partnerships

Strategic alliances with complementary partners can amplify your business’s impact and potential for growth. Outsourcing a part of your operations early on can result in cost savings of up to 80%. Collaborative partnerships allow for a seamless allocation of resources, enabling a swift market capture without the challenges of growing your team at the expense of your runway.

Shopify, an e-commerce platform, offers an app store that integrates third-party tools to enhance its functionalities versus developing them in-house. By partnering with external developers, Shopify has extended its capabilities and catered to diverse merchant needs without investing heavily in homegrown feature development, which requires major investments. 

Data analytics company Aumni started its footprint in the Philippines by working with my company, FullSuite, during its earlier days before spinning off its own separate company in the Philippines and being acquired by JP Morgan this year. 

Practicing these principles

In the intricate landscape of capital allocation, startups hold the brush to paint their path to success. Each decision shapes its trajectory, driven by a clear vision and strategic direction. Taking note of these five pillars, startups can adeptly navigate the intricacies of capital allocation, sculpting their path to growth and achievement.

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Developing and executing a marketing strategy is just as important as the product development itself. For startups and small businesses, there are unique aspects that founders must consider in order to create a successful one for their companies.

According to our sources, Handmade Heroes founder Lynsey Lim and IQM Quantum Computers Head of Asia Pacific Business Raghunath Koduvayur, these differences range from budgeting to speed of execution.

“There are many differences as there are a lot of moving parts and uncertainties. In a startup, things are always changing around product, budget, resources, and customer understanding, to name a few. A startup marketing team is also trying to communicate to a diverse set of audiences, including customers, partners, investors and so on,” Koduvayur says.

“Tailoring campaigns to a niche audience maximises impact while minimizing costs,” Lim says. “Social media is also a budget-friendly tool; creating organic content aligned with audience interests, like blog posts and infographics, enhances engagement. Encouraging user-generated content and collaborating with micro-influencers further amplify reach and credibility.”

The two sources share in an email interview with e27 the strategy that they are using to market their products—and what goes behind it.

It started with understanding the factors that make a good marketing strategy.

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“A good startup marketing strategy maximises your strengths, rallies your organisation towards a common direction and should also work towards different target groups – investors, analysts, media, prospective employees and others,” Koduvayur says.

“Clarity in planning, thinking and execution with well-defined goals that align with the overall business plans makes for a good marketing strategy.”

“For Handmade Heroes, a good marketing strategy is one that is effective, ethical, and sustainable. It should be based on a deep understanding of your target audience, their needs, and their pain points. It should also be consistent in messaging and branding and have a long-term vision for brand building,” Lim says.

“A good marketing strategy should also be flexible and adaptable. The market is constantly changing, so your marketing strategy needs to be able to change with it. You also need to be able to adapt your strategy to different channels and platforms.”

Working on a marketing strategy

When it comes to building a marketing strategy, despite differences in execution, Koduvayur points out that there are principles that every kind of company shares, regardless of their size: Understanding customer needs, market research, business objectives, unique value proposition, measure, and optimise.

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“For example, at IQM Quantum Computers, we were very clear from the beginning that we wanted to sell our products to high-performance computing centres and national research labs. What made it difficult is the long sales cycles, complex product and customer readiness to purchase expensive quantum systems,” he says.

“In our marketing, we made strategic choices around – product marketing, branding, events, media relations, analyst relations and content marketing. These choices and disciplined execution have helped us accelerate our leadership journey from a small startup in Finland to becoming a global leader in quantum computing.”

As a company that sells skincare products through online channels, Handmade Heroes’s marketing strategy is built around two key approaches. “First, we prioritise content creation, crafting engaging and informative posts on social media platforms. This strategy helps us connect with our audience, share our brand’s story, and present our products in compelling ways.”

“Additionally, as we retail on Amazon.com, we’ve embraced pay-per-click (PPC) advertising. This avenue enables us to extend our reach to a broader audience and direct traffic to our products. These combined efforts shape our effective marketing approach.”

Koduvayur and Lim share examples of successful marketing strategies from their own businesses.

“Over the last three years, our marketing strategy was to sell on-premises quantum computers to high-performance computing centres and national research labs. Our differentiators were systems with the best performance, full access to the hardware, co-located, which are upgradeable in the future,” Koduvayur begins.

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“We started with two marketers in 2020, and now we have built a team of six marketers (the company has grown from 20 employees to almost 300 employees). Still, almost all of our marketing work is done in-house with zero agency costs and very minimal paid marketing spend.”

Koduvayur highlights that the company’s strategy is tightly aligned with its business strategy to become a global technology leader. “We made strategic choices around product marketing, branding, analyst relations, investor relations and leadership communication.”

Lim shares how a successful campaign helps the company build an image of a skincare brand that fosters confidence and embraces unique beauty. “We mirror this in our campaigns, spotlighting everyday women as heroes of their lives. An instance is our ‘Heroes like Her’ and ‘Beauty Warrior’ campaigns emphasising self-care’s strength and the hero within everyone.”

An endless learning process

For founders who wish to learn more about creating and executing a good marketing strategy, Koduvayur and Lim share resources, tools, and opportunities that founders can use to learn more about this.

“Find good startup mentors, join an entrepreneurs’ network or mentoring programme … and hire a marketer as one of your first employees. Building a brand is equally important as building a great product, and you cannot build a successful startup with one without the other,” he explains.

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He also warns founders to stay away from “vanity” and irrelevant metrics. “At IQM, for example, we follow the social media metrics, but our marketing team is measured for sales. There is no shortcut to building a successful startup brand, and agencies alone can’t fix it for you.”

Lim sees learning opportunities that can be found in various online channels such as YouTube, podcasts, and webinars.

“Amazon Global Selling has an Amazon Seller University with vast resources and webinars to help new entrepreneurs learn,” she closes.

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Image Credit: RunwayML

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