Prompt: Create an image that blends the innovative use of AI in business with a vibrant, Gen Z-inspired aesthetic. Picture a dynamic, colourful workspace filled with young professionals engaged in creative brainstorming, surrounded by holographic displays of AI interfaces, emoji-filled chat bubbles, and playful data visualisations. Add elements like quirky desk decorations, trendy tech gadgets, and a backdrop of digital art, all under a neon glow. The scene should buzz with energy and a sense of fun, reflecting a workspace where work and play merge seamlessly, embodying the spirit of Gen Z’s approach to productivity and innovation.

I remember this time last year, I was fascinated with the new world of AI. Like many of us, I learned how to use ChatGPT, and I was already super excited with the answer it gave me by what was then ChatGPT 3.5. Fast forward a year later, and we’ve seen so many AI tools in the market and so many new innovations. But how do we know which AI tools to use and which will be useful for our business?

The right questions to ask as a leader: What are the immediate AI use cases to unlock creativity and free up resources? How can I use AI to focus on my genius zone and delegate dreadful parts of my tasks? How can I use AI to be a better leader?

As a Partner and CMO of Remote Skills Academy, I run this non-profit organisation that focuses on empowering individuals with digital skills to allow them to work remotely and live life on their own terms. I’m not only overseeing marketing but also managing the organisation’s day-to-day operations, including building the team. We’re a lean team of five people, and half of them are not full-time. We will need all the extra help to do our work in an effective and efficient way.

Also Read: The rise of generative AI in digital mental health solution

Prompting principles

Understanding how to prompt is crucial in using generative AI. The quality of your output is as good as the quality of your input. Some of the things I make sure are there while prompting with ChatGPT or other generative AI tools:

• Context: Give ChatGPT context by providing details about yourself or your business. This can be your business goals, target audience, etc., condensed into paragraphs.
• Roleplay: You can ask ChatGPT to act as a subject expert to give you more precise results
• Iteration: Working with ChatGPT is all about iteration. If ChatGPT give answers you’re not satisfied with, ask it to:
  • Add more explanations
  • Provide feedback on what you like
  • Tell it what you didn’t like about the results
  • And what do you want to see instead
• Training: LLMs (Large Language Models) such as ChatGPT are powerful because they can provide responses without needing specific examples (zero-shot prompt), but you can also give examples of similar content that you love so they can use the reference (one-shot prompt), or you can provide multiple examples (multiple shots prompt). This is the game-changing part.

Use cases

After understanding the prompting principles, we’re already halfway there to reach our goal. I’ll show you the ways I use AI tools in my daily operations.

Ask AI to write like me

In my job, I write a lot, especially to build thought leadership and attract inbound leads through content creation on LinkedIn. To save time, I train ChatGPT to understand my writing style. I gave some examples of my writing and asked them to remember my writing in Lia Sadia’s style. Then I will ask it to write a post for me. Usually, it will be a great foundation that I can edit, work on, and add stories and a human touch to it.

Content editing and repurposing

In the world of digital marketing, content is king, but it’s not just about creating new content—it’s about making the most of what you already have. That’s where content repurposing comes in, and AI plays an important role in speeding up this process.

By leveraging AI tools, I’ve been able to take our existing content and transform it into various formats suitable for different platforms and audiences. For instance, an audio/video interview with a media can be turned into a detailed blog post, a series of social media posts, or even a short TikTok video. You can even ask AI to suggest hooks you can use to capture your audience’s attention in five seconds.

Some of the tools I use for this are Capsule and Otter.

Create stock photos for social media

Finding the right visuals for social media can be a daunting task, especially when you’re looking for something very specific, like stock photos with Indonesian faces and certain hand gestures. This is where AI tools like Midjourney help.

Also Read: How AI and blockchain collaborate for a transparent Web3 future

By inputting detailed descriptions, I can generate custom stock photos that meet our exact needs, all within a minute. This capability not only saves time but also enhances the authenticity and relatability of our social media content, making it resonate more with our target audience.

Chat with your emails and your documents

With Bard, you can now connect it to your Gmail and Google Drive. You can chat and ask questions about your email and documents, summarise email threads, and draft responses. This not only streamlines our workflow but also ensures that we can focus more on strategic tasks rather than getting bogged down by administrative duties.

Create presentation visuals in minutes

Creating compelling visuals for presentations is crucial for engaging our audience, whether it’s for internal team meetings or external stakeholder engagements. With AI-powered presentation tools, like Gamma.app, we can generate stunning presentations in a matter of minutes, tailored to the theme and content of our presentation. These tools understand the context and suggest designs that enhance our message, making our presentations more impactful and memorable.

Give insights from your data

Data is at the heart of informed decision-making, but analysing vast amounts of data is not easy, especially if we’re not familiar with the process. AI tools excel in sifting through data to provide actionable insights, whether it’s identifying trends in our marketing campaigns or uncovering efficiency gaps in our operations. We can make data-driven decisions quickly, ensuring that our strategies are aligned with our goals and the market’s demands.

Be careful not to give too much context on your data when you’re asking for insights because most of the existing AI tools are designed for personal use. Research more to get a corporate package of the tools, which will give you a feature to protect your data.

Help automate your process

Efficiency is key in running a lean team, and process automation is a game-changer. AI tools can automate repetitive tasks, in our case, from events management to the student enrolment process. We use the Zapier plugin at ChatGPT, which can give ideas on how to set up the automation and then actually create automation for us.

Fast learning with YouTube summary

The wealth of knowledge available on YouTube is incredible, but sitting through long videos to find relevant information can be time-consuming. AI tools have revolutionised the way we learn by providing concise summaries of lengthy YouTube videos.

I used Glasp YouTube Summary to capture the transcription and asked ChatGPT to provide the summaries. I can also immediately share this information with our team, who can quickly grasp the key points of a video, which is particularly useful for staying up-to-date with the latest trends and skills in digital marketing and remote work. This accelerated learning process ensures that we remain agile and informed, ready to adapt to new challenges and opportunities.

Also Read: Rewriting the creation process of ad creatives using generative AI

Strategic business partner

Beyond just a tool for operational tasks, AI has become a strategic business partner. I will have self-reflection conversations with ChatGPT, solving problems and challenges within the organisation and giving me ideas to better recognise the needs of my team and fulfil them. AI helps me to dream and broaden my vision.

What are we going to do with our free time?

These AI automation have freed up our team’s time, allowing us to focus on creative and strategic tasks that require a human touch. By integrating AI into our processes, we’ve not only increased our productivity but also improved our job satisfaction, as we’re able to dedicate more time to more impactful work. We also have time to not only do deep work but also deep learning. Deciding a topic that we wanted to dive into, and become the best at it to serve the organisation and community.

I can feel it has already enhanced the quality of life at work and made our time more fulfilling. Now, it’s your turn. How have you been using AI tools in your business operations?

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: Canva

The post Using AI to save your time by 50 per cent in your business operations appeared first on e27.

I’ve always been deeply fascinated by psychology — the scientific exploration of the human mind and its influence on behaviour. This fascination also encompasses affective computing, a field that merges insights from computer science, psychology, and cognitive science.

The increasing burden of mental health issues, along with advancements in technology and a deeper understanding of the biopsychosocial model of health, has spurred interdisciplinary research to enhance our understanding of mental health disorders, which have profound effects on our communities globally.

The global mental health landscape

According to the World Health Organisation:

• Mental, neurological, and substance use disorders account for over 10 per cent of the global disease burden (approximately 280 million people have depression globally)
• In countries with low to middle-income levels, a staggering 85 per cent of individuals suffering from mental health conditions go untreated.
• The lost productivity resulting from depression and anxiety, two of the most common mental disorders, costs the global economy US$1 trillion each year. 

The China Brain Project, a 15-year project targeting major scientific discovery and technological development for early diagnosis and intervention of brain diseases and brain-machine intelligence technology by 2030, estimates that if no effective treatments for brain diseases emerge in the coming decades, the global medical care system is likely to collapse by 2050.

Also Read: Strengthening mental healthcare in Asia through local data that enhances efficacy

This intersection where technology meets healthcare is where its disruptive nature transforms into a lifeline for humanity. Technological advancements, particularly in AI, neuroscience, and psychology, are not just reshaping industries; they’re pioneering the development of innovative diagnostic tools and treatment methods for brain diseases. These tools include obtaining data on emotions at scale through apps to mapping and coding out brain activity using AI devices.

My journey and explorations

As someone who has worked in high-growth tech startups for over a decade, my journey mirrors this larger narrative of technology’s capacity to both disrupt and heal. Growing a tech startup is all about relentless execution, and it came at the expense of my mental health.

Despite the constant challenges, this experience has led me on a lifelong path of personal growth and reinforced my commitment to contributing to solving some of humanity’s global mental health burden with technologically sustainable solutions, both personally and professionally.

Beyond my work in tech startups, I embarked on both an academic and practicum path by pursuing a Professional Diploma in Psychotherapy, Counseling and Positive Psychology with The School of Positive Psychology (TSPP), taking night classes every weeknight after work for two years.

Deep down, I want to explore how I can consciously evolve into the best version of myself as a human being and how people can engage with me on a new level of openness and emotional vulnerability with my personal growth work and mental health advocacy through technology. 

During the COVID-19 lockdown, I co-founded a startup called Ministry For Good, which seeks to raise awareness of mental health issues and how technology can be used to improve access to mental health care and help scale other social impact causes. Our first project was raising awareness of the symptoms of dementia and exploring how AR/VR technology can help with reminiscence therapy.

In the broader spectrum of my tech roles, I became a super user of digital mental health solutions, testing out current product offerings in the market on myself, which extended to generative AI solutions. Although generative AI models cannot experience emotion as humans do, these models can be programmed to recognise emotional cues from text, speech, or facial expressions and adjust their responses accordingly, mimicking how emotions affect human thought and behaviour.

This is often used in fields like affective computing, where AI is designed to detect and respond to human emotions, enabling an empathetic response from a chatbot to potential early detection of mental health issues.

Also Read: From chatbots to therapists: How AI break ground in bridging the mental health care divide

Rana El Kaliouby, CEO and Co-founder of Affectiva, an emotion AI startup, writes in her book Girl Decoded, “I was also struck by the vital role of emotion in enabling people to make sound decisions. At the time, I believed that the best decisions were based on cold, calculated logic that didn’t let feelings get in the way. In fact, as I learned, decades of neuroscience showed just the opposite to be true. Your “feelings” don’t get in the way. They improve your thought processes.”

AI in mental health: Enriching emotional intelligence

This understanding underscores the potential for AI to not just automate tasks but to enrich our emotional intelligence. In this light, digital mental health solutions emerge as conduits between the analytical capabilities of AI and the nuanced realm of human emotions, fostering an environment where technology supports and enhances mental well-being.

I envision a collaborative future where digital mental health solutions evolve to become more empathetic, advanced, and interactive, revolutionising mental health care. In the future, mental health professionals leverage the efficiency of AI in routine tasks such as diagnostics, monitoring, and research, thereby enhancing their productivity.

This allows them to dedicate more time to activities that truly set them apart from machines: their emotional intelligence, creativity, and deep interpersonal connections. Meanwhile, individuals can engage with AI-powered tools like chatbots or virtual assistants, which offer simulated scenarios to encourage positive thought patterns and behaviours.

However, the integration of AI into mental health care requires ethical, practical, and clinical considerations. It is crucial that governments intervene with well-thought-out mental health policies that ensure the ethical application of AI while fostering innovation, ensuring a balance that benefits all stakeholders in the mental health ecosystem.

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: Canva

The post The rise of generative AI in digital mental health solution appeared first on e27.

Homam Alghorani, Co-Founder and Chief Executive Officer of Carbon Balance

The researchers estimate that the world’s emissions of carbon dioxide will exceed 40 billion tons in 2023, including nearly 37 billion tons from fossil fuels. Overall emissions are up 1.1 per cent compared to 2022 levels and 1.5 per cent compared to pre-pandemic levels, continuing a 10-year plateau as reported by the Global Carbon Project.

To tackle the ongoing climate crises, a Singapore-based climate-tech startup, Carbon Balance, is aiding e-commerce companies by leveraging technology for a balanced approach to business growth and sustainability. The company focuses on cutting emissions and funding initiatives that absorb more carbon than produced. The goal is to make sustainability accessible for businesses and consumers, fostering a more responsible and environmentally conscious digital marketplace.

Carbon Balance’s tech-driven approach to climate crises

Carbon Balance aims to transform the e-commerce sector by aiding brands in measuring, reducing, and offsetting their carbon footprint. Employing an AI-driven approach, the company estimates the carbon footprint of e-commerce transactions by analysing product details. It provides free integration with platforms such as Shopify and WooCommerce, simplifying online store setup in under five minutes and eliminating manual data input for brands.

Upon integration, consumers at the checkout page receive a transparent insight into the carbon footprint linked to their purchases. A quick glance allows them to understand the environmental impact and, with a single click, choose to offset this footprint.

“My journey to founding Carbon Balance combines my computer science background with a deep concern for contrasting environmental attitudes. I noticed a clear divide: on one side, a group indifferent to their ecological footprint focused solely on consumption and profit; on the other, eco-extremists advocating for impractical bans on essentials like oil, plastic, and meat without considering the economic implications. Believing in a more pragmatic approach, Carbon Balance was born,” said Homam Alghorani, Co-Founder and Chief Executive Officer.

Alghorani is joined in this mission by his co-founders, Vikash Bengani and, later, James Connell (now advisor), who shared similar concerns about climate change and its current approaches.

Also Read: Why these startups focus on informal plastic waste workers in the fight against climate crisis

While many SMEs in the region are just beginning to recognise the importance of sustainability, Carbon Balance stands out by targeting larger corporations and empowering SMEs to embark on their sustainability journey amid increasing governmental push towards regulations and ESG requirements.

“Starting with e-commerce, we plan to broaden our reach across related sectors like logistics, delivery, shipping, packaging, and eventually into hospitality and events. We aim to make sustainability accessible and practical for businesses of all sizes,” said Alghorani.

The primary revenue stream for the company is a commission model, charging a 20-30 per cent fee on carbon offsets made through its platform. In the future, Carbon Balance plans to offer advanced features and a comprehensive footprint calculator for logistics and other sectors, transitioning to a subscription-based model for a steady revenue stream and continuous service enhancements.

“The combination of these revenue streams allows us to invest in research and development, ensuring we stay at the forefront of innovation in the climate tech sector,” said Alghorani.

Overcoming challenges in client focus and strategy

At Carbon Balance, the primary target clients are brands in the lifestyle consumer product sector, specifically those with monthly sales surpassing US$50,000 and a consumer base predominantly consisting of Gen Z and Millennials.

“Our solution is uniquely designed to resonate with this demographic. By integrating Carbon Balance, brands enable their consumers to participate actively in environmental sustainability. Each purchase becomes more than a transaction — it becomes a step towards a greener future. This feature particularly appeals to younger consumers who are increasingly conscious of their ecological impact and the ethical practices of the brands they support,” said Alghorani.

Also Read: Founders are pessimistic about Philippines’ funding climate in 2024: study

Addressing challenges in the climate tech sector, Alghorani stated, “Getting into the climate tech sector in Southeast Asia has brought its share of challenges, particularly regarding SME awareness. Many SMEs in the region are unfamiliar with sustainability-focused products like ours. They often prioritise immediate operational needs over sustainability and typically adopt eco-friendly practices only when they lead to cost savings.”

To tackle these challenges, Carbon Balance has adopted a strategic two-pronged approach. First, the company has ensured its solution is easy to integrate and free, removing barriers to adoption, which is crucial for businesses new to sustainability or reluctant to adopt new technologies. Second, Carbon Balance is dedicated to educating these businesses on the value of sustainability, extending beyond environmental benefits to emphasise how sustainable practices can enhance their business model.

Funding journey and future plans

Carbon Balance secured a pre-seed round from Antler, whose support has been crucial in the early stages. The company is currently in the process of raising its seed round.

“Our aim with this funding is ambitious yet clear — we intend to offset 34,000 tonnes of CO2 and remove 800 tonnes of plastic while generating US$1 million in revenue by the end of 2024. To reach these goals, we’re looking for the right venture capital institute for our seed round or an angel investor who resonates with our mission and can provide the necessary boost to enter the seed round confidently,” Alghorani.

The company’s long-term vision is centred on providing easy-to-implement sustainability options for businesses of all sizes.

“In the coming years, we aim to expand our reach across various industries, enhancing our technological capabilities to support a wider range of businesses in their sustainability journey. A key milestone we’re targeting is the widespread adoption of our integrations, leading to a measurable impact on global carbon reduction efforts,” said Alghorani.

Carbon Balance’s approach to e-commerce sustainability, coupled with its strategic vision and commitment to addressing challenges, positions it as a key player in the climate tech sector.

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: Carbon Balance

The post Balancing act: Carbon Balance’s quest to tackle climate crises with tech-driven sustainability appeared first on e27.

Dear reader,

The Competition and Consumer Commission of Singapore (CCCS) has initiated a phase two review of Grab’s proposed acquisition of Trans-cab, signalling a deepening scrutiny into potential antitrust issues.

The move comes after the regulator rejected Grab’s initial commitments to address competition concerns raised during the phase one review. The CCCS highlighted that the proposed actions did not sufficiently address the risk of Grab leveraging its ownership of Trans-cab to influence driver behaviour in favour of its ride-hailing platform over competitors. The watchdog expressed dissatisfaction with the proposed two-year commitment duration, deeming it insufficient for addressing long-term market structure changes.

Additionally, CCCS found Grab’s self-policing monitoring mechanism lacking. The in-depth review, which commenced on January 25, allows Grab to submit revised commitments. The acquisition, announced in July 2023, would provide Grab control over 2,200 taxis and 300 private-hire vehicles. CCCS had raised competition concerns in October, citing potential barriers for Grab’s competitors.

This intensified regulatory scrutiny echoes past antitrust challenges surrounding Grab’s acquisition of Uber’s Southeast Asian business in 2018, reinforcing the regulator’s commitment to fair market competition.

Editor,
Sainul.

======

NEWS ARTICLES

SG competition watchdog begins in-depth review on Grab-Trans-cab deal
The initiation of the phase two review followed the regulator’s rejection on November 24 last year over Grab’s proposed commitments to address competition concerns raised after the phase one review.

GoTo completes merger with TikTok Shop Indonesia
Tokopedia and TikTok Shop are now officially combined under Tokopedia; TikTok will invest over US$1.5 billion in the enlarged entity over time to provide future funding the business requires without additional dilution to GoTo.

Bytedance exec takes the helm at Tokopedia as merger closes
Jakarta-based ByteDance executive Vonny Ernita Susamto is now the e-commerce company’s president director; Susamto has been part of ByteDance’s category management team since 2021.

India’s Ugro Capital gets US$30M from ADB to bolster SME business loans
Among Ugro Capital’s initiatives is a scoring model called Gro Score, which uses AI and ML to assess customers and offer financing; The company has also introduced a “lending-as-a-service” model in India.

Hukumonline bags Series B funds to develop legal genAI tool
The investor is the Media Development Investment Fund; Hukumonline provides information on laws and regulations in Indonesia, as well as services such as legal consultations and business licensing assistance.

Tesla sued for allegedly mishandling hazardous waste in California for years
The complaint, filed in San Joaquin County Superior Court, states that Tesla improperly labelled and disposed of materials like “lead acid batteries and other batteries,” paints, brake fluid, diesel fuel and more at its production and service facilities throughout the state.

India’s central bank discusses more penalties on Paytm Payments Bank
The central bank has internally discussed revoking the payments bank license of Paytm; The discussion follows the central bank summoning two Paytm officials to its office in recent weeks over compliance progress.

Antler invests US$5.1M in 37 Southeast Asian startups
Antler’s diverse portfolio of startups spans 19 sectors, such as AI, SaaS, fintech and healthcare, addressing specific regional challenges; They include ReelBlend, EigenAI, RapidaAI, Emereg, CapGo, Buildas, Lunash, ZOLO, SmartViz, and Levit8.

Pintar raises US$3M to help workers break ‘middle-income trap’
Investors are Havez Capital, SIG Venture Capital, and Samator Group; Formerly known as HarukaEdu, Pintar focuses on workforce development with solutions such as training, credentialing, and jobs placement.

BlokID nets US$1.25M to provide privacy protection for the digital ads industry
Lead investors are Ascend Vietnam Ventures and AppWorks; Using BlokID, advertisers can verify ads and guarantee privacy with bonded privacy insurance through one-click campaigns integrated with Google, Facebook, etc.

Silverstrand backs US water tech startup Porifera
With its membrane processing equipment, Porifera enables beverage and ingredient manufacturers to remove water efficiently and retain all the components of their products to create high-value concentrates with a smaller environmental footprint.

Zora Health gets US$740K to launch its one-stop fertility care platform
Investors include Cheryl Goh (Grab), Prajit Nanu (Nium), Alan Jiang (Beam), and Lisa Enckell (Antler); Zora has a waitlist of more than 180 patients and partnerships with more than 50 clinics in eight countries.

CEO states enhancing “sense of crisis” is primary goal for ByteDance
CEO Liang Rubo told the company’s employees they lack a “sense of crisis” in an annual meeting on Tuesday, as the co-founder of Douyin and TikTok owner fears the ten-year-old firm is becoming “mediocre” and thus unable to “break new ground”.

CONTRIBUTORY POSTS

Rethinking wastewater treatment to support Singapore’s ambitious water goals
One area with immense potential for enhancing water self-sufficiency lies in improving industrial wastewater treatment.

Breaking barriers: Hidden hurdles faced by women entrepreneurs
By showcasing their skills, expertise, and successes, women entrepreneurs can challenge biases and change perceptions.

Real-world tokenisation fireside chat with Anndy Lian: Unpacking the landscape
Lian’s foresight into the future impact on the financial industry offers a glimpse into the transformative potential of tokenisation.

Safeguarding digital frontiers in the next phase of the internet
The mainstream use of social media is contributing to a hyper-digital age that intensifies the challenges of digital privacy. This extends beyond social media, encompassing a wide array of digital platforms where various parties constantly access sensitive information.

AI in mobile advertising: Transforming relevance, efficiency, and immersive experiences
In 2024, advertisers are expected to embrace immersive and cohesive ad formats, creating a holistic advertising experience.

Singapore’s Data Protection Act: What should business owners do?
The announced increase in maximum financial penalties for data breaches by countries across ASEAN can have significant implications for businesses in the region, and they must respond proactively to ensure that they are sufficiently protected.

Why businesses need to rethink ‘black swan events’ to succeed in 2024
With increasingly frequent macroeconomic shocks, companies must prepare for disruption to be part and parcel of everyday operations; Considering the high interest rates and the slowdown of two of the world’s largest economies, China and the US, 2024 may turn out to be another year of market turbulence.

FEATURES

How Meals In Minutes tackles food waste with ready-to-cook meal kits
Meals in Minutes aims to simplify cooking for individuals leading busy lives, offering them the opportunity to enjoy high-quality, clean, and nutritious meals without the associated hassle and requisite culinary skills.

‘Malaysia is a fantastic market, but startups need help to scale globally’
Artem Ventures is a VC fund management company currently managing a fund in partnership with insurance giant FWD Group.

How SEA-LION aims to bridge the cultural gap existing in popular AI tools
SEA-LION, an open-sourced LLM by AI Singapore, aims to help enterprises in Southeast Asia incorporate AI into their workflows.

7 reasons every entrepreneur should be proud of themselves
Founders start from the ground up, armed with knowledge and, at times, not even that but only the passion for making something better.

ARCHIVES

Barbie-fy your business with the power of PR
PR agencies, like Barbie, excel at creating and maintaining a positive public image for their clients through their expertise in the field of publicity.

How to embrace optimal efficiency in the future of work
Hybrid work modernisation is an organisation-wide transformation which seeks all hands on deck to establish new processes.

Exploring the game-changing role of AI in online courses
AI has the potential to provide a higher quality online course experience by making it more personalised, interactive, and efficient.

Future-proofing businesses and talent through technology
The right EOR platform can help businesses master that balance by allowing them to continue to expand in a sustainable and flexible way.

A paradigm shift needed: Hiring within the tech startup ecosystem
Embracing transformative change in hiring practices will undoubtedly pave the way for a prosperous future for tech startups.

SG firm empowers freelancers to transform passions into profitable ventures
When freelancers combine their expertise, knowledge, and experience, they can create three, four, or even 10 times the impact.

—

X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

The post Ecosystem Roundup: Grab-Trans-cab deal is under further scrutiny; GoTo-TikTok Shop Indonesia merger complete appeared first on e27.

Pixelmon, a decentralised web3 gaming IP company, has raised a seed investment of US$8 million from investors, including Animoca Brands, Delphi Ventures, Amber Group and Bing Ventures.

Bitscale Capital, Cypher Capital, Foresight Ventures, Mechanism Capital, Sfermion, Spartan Labs, and VistaLabs also participated.

The startup will use the funding to continue developing its differentiated portfolio of casual and mid-core games.

Also Read: How AI and blockchain collaborate for a transparent Web3 future

Founded by Giulio Xiloyannis, Pixelmon delivers ownership of IP and in-game assets through its fractionalised IP ecosystem Mon Protocol. Developed by LiquidX Studios, Pixelmon features mysterious creatures called Pixelmon. Taking place in the mythical world of Nova Thera, Trainers — the creature companions — must lead their team of Pixelmon to victory. Pixelmon incentivises players with NFTs with fractional IP benefits, where holders of these NFTs have ownership rights over a portion of an item’s or a character’s IP.

The funding follows the launch of Kevin the Adventurer (KTA), Pixelmon’s first hypercasual game. A second hypercasual game, PixelPals, which features pet and habitat management blended with trading card mechanics, is set to launch on Mantle this first quarter of 2024.

Pixelmon’s regular hypercasual releases have kept the community engaged while the team focuses on its major release for the core Pixelmon IP, including a rebuild of its free-to-play desktop title, Arena, to introduce survival-based horde gameplay, new Pixelmon abilities, and core game loops, targeting a 2024 release.

Further, Hunting Grounds, an open-world adventure game with RPG elements and PvP autobattler tournaments, is set for an open beta in 2024 and a full release in early 2025, with three distinct modes: combat, social hub/metaverse, and exploration.

Also Read: How to launch collaborations that grow communities: A guide for Web3 founders

Pixelmon plans to grow its decentralised IP across verticals, including merchandise, trading card games (TCG), animated series, comic books, and more, via franchises, sublicenses and joint ventures.

—

X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

The post Web3 gaming IP company Pixelmon secures US$8M seed funding appeared first on e27.

On Wednesday, Indonesian digital ecosystem giant GoTo Group announced the completion of its merger with TikTok Indonesia, the e-commerce arm of the global entertainment platform TikTok. As part of the deal, TikTok will invest over US$1.5 billion in the enlarged entity over time to provide future funding the business requires without additional dilution to GoTo.

This was the latest update on the problem that TikTok has been facing in Indonesia since October last year, when the government abruptly banned online sales through social media channels, including TikTok Shop. The ban was made to protect small- and medium-sized businesses in the country, which is said to be threatened by the influx of cheap products from China.

While the more nationalistic amongst us might welcome this with excitement, some of us might wonder about many things.

There are indeed several things to worry about.

In an opinion piece, TEMPO points out the familial relations between GoTo shareholder Garibaldi Thohir and State-Owned Enterprises Minister Erick Thohir.

Also Read: Ecosystem Roundup: Grab-Trans-cab deal is under further scrutiny; GoTo-TikTok Shop Indonesia merger complete

Apart from that, there is also a concern about consumer data protection.

“In addition to the matter of protection of small and medium enterprises not yet being clear, TikTok Shop’s transactions with Tokopedia could lead to a problem with consumer data protection. The government must consider the warning signs from several European nations that previously banned TikTok Shop from operating because of doubts about its data security system,” TEMPO writes.

“There must be clear regulations concerning this because there have been many leaks of personal data using various fraudulent methods. The ease of social media transactions must not be allowed to cause problems for people.”

All of these are certainly worrying enough. But personally, I would like to get back to the basics: What does this mean for the Indonesian e-commerce landscape in general?

Who is the last one standing?

The easiest answer to that question would be TikTok, GoTo, and all of its shareholders. As elaborated by The LowDown, the deal is a masterstroke on ByteDance’s part.

“By taking over Tokopedia at no cost (to the contrary, GoTo pays TikTok US$340 million), TikTok Shop will gain full operational control, legitimacy of operating e-commerce and some useful local allies,” it wrote.

Also Read: Merchants selling via TikTok could be harming Indonesian economy: AC Ventures

As for Tokopedia, “This deal will save the company from the seemingly irreversible decline until now … Tokopedia will remain a going concern, and probably will thrive with TikTok now as the biggest shareholder.”

We are clear about TikTok and Tokopedia. But what about their main competition in Indonesia, Shopee?

This deal is certainly a major blow for the company, and it would be interesting to see what strategy it is going to come up next. There is no sign of any upcoming merger or acquisition on the horizon for Shopee; on the other hand, we also do not see them returning to the old days of burning cash to acquire customers.

Indonesian customers are also expecting different things from the existing e-commerce players today. Back in the day, it was all about accessibility. Can I pay using cash? How soon can this be delivered? But as Indonesians grow more accustomed to digital payments, they begin to expect something different.

If anything, Shoppe (and SEA in general) need to work from the different lines of business that they have in order to win Indonesia.

—

Image Credit: Achmad Al Fadhli on Unsplash

The post What is next for Indonesian e-commerce scene after GoTo, TikTok Indonesia merger? appeared first on e27.

Singapore-based global early-stage VC firm Antler has announced pre-seed investments of US$5.1 million in 37 startups across Southeast Asia.

The diverse portfolio of startups spans 19 sectors ranging from AI and B2B SaaS to fintech and healthcare to address specific regional challenges.

Below is the full list of startups Antler has invested:

Also Read: Antler invests US$2M in startups across Singapore, Indonesia

ReelBlend: Marketplace for virtual product placement, utilising AI and Computer Vision to facilitate accurate ad insertions in various media.

EigenAI: No-code AI/ML platform specialising in analysing customer behaviour and building comprehensive Customer Lifecycle Management models.

RapidaAI: LLM router and prompt engineering platform for businesses to experiment, test and deploy LLM-powered applications quickly.

Emereg: AI-first platform focused on risk management automation tailored to the fintech sector.

CapGo: Platform to deploy AI agents for fast and autonomous data acquisition, specifically tailored for market research.

Buildas: Human-assisted AI platform that aids businesses in planning, customising, and maintaining software without requiring extensive technical expertise.

Lunash: AI-driven solution to improve debt collection performance across all stages from pre-delinquency to recovery.

ZOLO: AI-powered assistant for food suppliers to streamline order management details and convert from messaging platforms to back office systems.

SmartViz: Provides AI-powered modules for automated visual inspection in manufacturing, aiming to eliminate defects and enhance production efficiency.

Levit8: HR analytics platform that uses data to track employee experiences and detect early signs of potential churn.

Also Read: Antler partners with Khazanah, to invest in 30+ Malaysian startups over next three years

PingMi: AI co-pilot and product management platform designed to expedite the development and launch of revenue-driving ideas.

Cleve: AI-powered tool that assists creators and thought leaders scale their online presence by generating personalised content optimised for different platforms.

COEX: A platform designed to maximise capital and operational efficiency in the construction industry, digitalising project claims and bills of quantity management.

Dash Electric: Sustainable logistics for B2B clients, offering rental electric vehicles to build Indonesia’s largest EV fleet for on-demand delivery services.

glorious: A care operations platform for care suppliers, aiming to digitise operations and improve care work with innovative workforce tools.

OmiConvo: An omnichannel business suite that integrates various messaging channels with backend services, enhancing social commerce management for traditional business owners.

AssetFindr: An end-to-end asset maintenance management ecosystem for real-time insights, advanced risk management, and data-driven decision-making.

UniiD: Smart access solutions for buildings and cities, transforming how entry and security are managed through a mobile-based platform.

Konstruksi.ai: SaaS solution for construction companies and contractors to systemise document workflow and real-time quality inspection.

XFLO: A B2B SaaS solution to increase business productivity via a hyper-automated workflow engine.

Barely Skin: Provides accessible dermatology-level personalised skin treatment, offering online consultations and bespoke skincare products.

Ternakin: IoT solutions for fish farmers to increase productivity by optimising pond utilisation and streamlining the procurement of supplies.

Seafoody: A seafood supply chain enabler for direct sourcing to businesses.

YOBO: Sales CRM and sales automation solution that pinpoints high-value customers.

BorderDollar: Provides accessible cross-border trade finance for SMEs, offering invoice financing as an alternative asset class to private investors.

Mailpass: Offers a device-based login manager, creating unique, anonymous email addresses for users per service to enhance online safety and privacy.

flaex: A decentralised margin trading exchange leveraging the liquidity of lending protocols to offer competitive rates for traders.

Hybr1d: End-to-end IT management platform for businesses to automate and streamline workforce processes.

Naki: A platform enabling Generation Z to create AI friends tailored to their needs and personalities, offering a unique, personalised interaction experience.

Spun: Permit creation and management platform for non-leisure travellers, utilising AI and automation to simplify and accelerate the permit process for professional opportunities globally.

MessengerCo: A one-stop corporate gifting platform to optimise B2B gifting with a global distribution solution.

Zappy: Provides unified and affordable business communication tools, integrating various work conversations into one unified inbox.

Upbrand: A D2C brand and e-commerce enabler for local fashion manufacturers to transition into global brands with cutting-edge services and market intelligence.

Just Ping: An omnichannel conversational recruitment tool leveraging mobile-first experiences for social hiring, integrating with various messaging and social media platforms.

Finna: An end-to-end platform for solopreneurs, simplifying the workflow from managing customers and creating proposals to processing payments.

—

X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

The post Antler invests US$5.1M in 37 Southeast Asian startups appeared first on e27.

In the internet-driven era, billions partake in data-sharing across countless platforms, raising significant concerns about how consumer data is used. 

Given the alarming number of over eight billion data breaches in 2023, it’s no surprise that the majority of consumers are seeking enhanced protection and control over how their data is used.

The mainstream use of social media is contributing to a hyper-digital age that intensifies the challenges of digital privacy. This extends beyond social media, encompassing a wide array of digital platforms where sensitive information is constantly accessed by various parties.

Despite progress in digital privacy regulations, data breaches have not been eliminated.

Privacy pitfalls in the digital-first era

In 2023, the digital protection firm DarkBeam exposed over 3.8 billion records due to an unprotected database. The firm’s CEO attributed the data leaks to “human error”.

Notably, a massive leak in India exposed the personal details of over 815 million people, reportedly originating from the Indian Council of Medical Research (ICMR). A threat actor named ‘pwn001’ disclosed the breach, promoting the sale of sensitive data, including passport details, names, phone numbers, and addresses. 

These data breaches, stemming from both technical and human errors, highlight the dual nature of data security risks. The integration of robust technology is essential to automate cybersecurity measures and better safeguard against unauthorised breaches.

Also Read: Securing tomorrow’s finances: Navigating the rise of digital banks with cybersecurity

This encompasses the emerging digital asset sector, gaining momentum as innovative financial solutions. “From the security of a wallet to the solvency of the firm facilitating your buying, selling, and trading of digital assets — security is paramount. Protecting your crypto and digital assets, in general, has become a priority that grows every day as the digital finance industry evolves,” according to Blake Harris, an Asset Protection Attorney. 

The next phase of data protection

Moving towards a more decentralised internet, secure multiparty computation (MPC) technology enables a refined solution for data privacy. First introduced in 1982 as a secure two-party computation (2PC), MPC has substantially evolved, operating as a distributed cryptographic system that allows the confidential processing of encrypted data without revealing sensitive details.

Highlighting the advantages of MPC, Brian Gallagher, Co-Founder of Partisia Blockchain, says, “MPC can perform any computation on any private input. Or, in other words, MPC is a completely distributed encrypted computer.”

According to Bloomberg data, the first-day trading volume across eleven US SEC-approved Spot Bitcoin exchange-traded funds (ETF) reached US$4.7 billion. The surging demand for digital asset-related products underscores the heightened importance of data protection, not only for the existing internet but also to secure emerging digital solutions in the next phase of the internet known as Web3.

The integration of MetaMask Institutional with Fireblocks, known for its enterprise-grade digital asset wallet security, exemplifies the importance of such solutions. Fireblocks provides digital asset solutions for institutions, including the Tel Aviv Stock Exchange.

To establish a heightened standard in data security for the Web3 internet, solutions such as Partisia Blockchain embed secure MPC data privacy and protection at the protocol level. Through this approach, over 100 million Web3 users gain access to privacy-preserving data protection measures, facilitated by the integration between MetaMask Snaps and Partisia Blockchain.

Moreover, the relevance of secure MPC in the digital world is reflected by organisations such as the MPC Alliance, which includes members like Bosch, Meta (formerly Facebook), and Salesforce, among others. This global collective fosters advancement through comprehensive cross-industry education, case studies, and collaborative efforts to address ongoing data challenges. 

Also Read: Two decades of digital defence: Why cybersecurity must remain a top concern for everyone

For example, Polygon, the Layer-2 blockchain powering Starbucks’ NFT Loyalty program, has joined forces with MPC Alliance member Partisia Blockchain. This partnership empowers developers to focus on building smart contract apps with advanced data privacy features.

Enhancing trust in a user-centric internet

With the integration of secure MPC technology in the Web3 ecosystem, developers can construct a more secure, transparent, and user-first internet. 

“Where Web3 meets MPC, consumers can control their private data even though the same data is being used in more and more data-driven reality. While this empowers the end users to get a fair share of the generated values, it also paves the way for the next generation of the internet. An internet that is moved from an information-centric model to a user-centric one – it’s as easy as MPC,” says Brian Gallagher, Co-Founder of Partisia Blockchain.

By embracing secure multiparty computation technology, the ongoing commitment to data protection paves the way for a more resilient and privacy-preserving digital landscape. 

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image courtesy of the author

The post Safeguarding digital frontiers in the next phase of the internet appeared first on e27.

The seemingly unending wave of tech layoffs has left many anxiously wondering whether the impending end of the tech hiring boom is nearing — instead, a paradox has emerged.  

In Southeast Asia, despite recent layoffs in Meta, Google, and Amazon, tech talent is still a coveted resource, with engineers and data scientists in high demand in Singapore, Indonesia and Vietnam, according to a study conducted by staffing platform Glints and Monk’s Hill Ventures. The rising trend towards digitalisation and technological adoptions in businesses is evidence that tech hires have not yet gone obsolete, at least for everyone other than big tech companies.  

As increasing frustration mounts from frequent and seemingly erratic layoffs, what has remained in the wake of big tech’s struggle to stay afloat is the hiring potential of tech talents, where the opportunity to benefit from the technological revolution has shifted to smaller-scale startups.  

Startups have been massively overlooked as a robust opportunity for tech employment. Today, the demand for specialised tech talent has reached non-tech sectors as businesses transform to stay competitive in the digital space. Still, a paradigm shift within the hiring landscape of startups is needed to fully harness and attract tech talents.  

The potential of startups

The potential of startups lies in their unique qualities that can attract job seekers who are on the lookout for fulfilling careers. One of the main appeals is the opportunity to be part of a dynamic, innovative environment where individuals can make a tangible impact from the outset. Also, startups often offer a hands-on approach to work.  

Also Read: Are you a human resource?

Unlike the hierarchical structures found in larger organisations, startups encourage collaboration and idea-sharing across all levels. By encouraging creativity, collaboration, and rapid growth, startups create an enticing atmosphere for those seeking accelerated career development and a chance to contribute meaningfully to a company’s success.  

What tech startups are looking for  

On the flipside, tech startups, which are now positioned as sought-after employers, are actively seeking individuals with skill sets acquired through experiences in major corporations. The valuable expertise and knowledge gained from working in large tech companies can be seamlessly applied to startups looking to transform their operations and remain competitive.

The challenge lies in striking the right balance between qualifications, experience, and specific skill sets. Specialisation is key. TG Group’s statistics reveal a significant increase of 20 per cent in startups searching for hires with specific skill sets in the past year, indicating a growing demand for specialised expertise in the startup ecosystem. 

The way forward

To fully capitalise on this paradigm shift, tech startups must recalibrate their hiring strategies. By leveraging this transformation, startups can create a competitive advantage in attracting and retaining top talent.

Implementing innovative talent retention strategies, including mentorship programs, mental health support, and fostering an efficient organisational structure are vital steps in sustaining growth. Startups must prioritise offering attractive remuneration packages, growth opportunities, and supportive work culture to retain talents.

Furthermore, adopting scalable operational models and cost-saving measures will contribute to long-term success and expansion. 

The people-as-a-service (PaaS) model presents a valuable opportunity for tech startups to ride the wave of change and adapt to evolving employment patterns. By capitalising on the skill sets of individuals who are only needed part-time, startups can optimise their resources while providing employees with the potential to earn according to their capabilities.

The growing demand for on-demand staffing platforms is projected to reach US$83.93 million by 2028, signalling the significant potential for tech startups to benefit from this model. 

TG Group, known for operational efficiency and cost-saving measures, is well-positioned to assist tech startups in navigating this paradigm shift. 

Embracing this transformative change in hiring practices will undoubtedly pave the way for a prosperous future for tech startups in an ever-evolving industry. 

 —

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: putilich

This article was first published on July 11, 2023

The post A paradigm shift needed: Hiring within the tech startup ecosystem appeared first on e27.

Faraj Abutalibov (L) and Anndy Lian

In a recent fireside chat, Anndy Lian, an intergovernmental blockchain expert and author of the book Blockchain Revolution 2030, engaged in a profound discussion on real-world tokenisation. This engaging conversation, moderated by Faraj Abutalibov, Chief Commercial Officer of the Venom Foundation, provided a deep dive into the evolving landscape of tokenisation, offering insights that resonate with both seasoned professionals and those new to the blockchain space.

Lian’s journey into the world of blockchain began in 2013 with his first Bitcoin purchase. Beyond personal involvement, his extensive experience advising governments underscores the practical application of blockchain at the highest levels of governance.

His role as a blockchain advisor to an intergovernmental group further solidifies his expertise. As an investor and fund manager holding a CMS license in Singapore, Lian brings a multifaceted perspective, enriching the fireside chat with a wealth of practical insights.

Tokenisation overview

The discussion commences with Lian providing an overview of the evolving perception of tokenisation. He notes a substantial shift from initial scepticism, especially from governments, to the current scenario where significant players, including prominent banks and governments, actively advocate for the tokenisation of Real World Assets (RWA). Lian emphasises the technological readiness for tokenisation, underlining the momentum behind the RWA wave.

His assertion on the shift in perception echoes a broader transformation in the financial and regulatory landscape. The acknowledgement from major players, traditionally cautious about emerging technologies, signifies a turning point. The active endorsement of tokenisation by influential entities not only validates its legitimacy but also sets the stage for widespread adoption. The emphasis on technological readiness is crucial, highlighting that the infrastructure and tools required for efficient tokenisation are now more accessible and robust than ever before.

Also Read: I use strategies such as diversification to manage risks: Blockchain expert Anndy Lian

However, he introduces a critical concern that often goes unnoticed – the lack of a clear revenue model for companies engaged in tokenisation. Drawing from personal experience with a Registered Market Operator (RMO) investment, he highlights the complexities surrounding assets like properties, where achieving liquidity and establishing revenue models pose intricate challenges.

Lian’s insight into the revenue models of tokenisation ventures sheds light on a fundamental challenge in the industry. While the momentum for tokenising assets is palpable, the path to sustained profitability remains nebulous for many.

This observation prompts a critical examination of the business models associated with tokenisation, urging stakeholders to address this gap for long-term viability. His example involving a Registered Market Operator investment offers a tangible illustration, emphasising the need for innovative solutions to navigate complexities, particularly in traditionally illiquid markets like real estate.

Monetisation models

Lian delves into the monetisation models prevalent in the tokenisation space, distinguishing between established companies and startups. Larger companies with diverse income streams might find a more stable footing, but startups face hurdles in raising substantial funds due to uncertainties surrounding their revenue-generating capabilities. Here, he underscores the necessity for innovation among startups, citing examples such as the introduction of new ERC standards and novel approaches to tokenising assets.

The exploration of monetisation models unravels the varied landscape within the tokenisation space. Lian’s differentiation between established players and startups highlights the nuanced challenges each category faces. Larger companies equipped with diverse income streams possess a more resilient financial foundation.

In contrast, startups grapple with the intricacies of fundraising, compounded by uncertainties in proving their revenue-generating potential. Lian’s call for innovation becomes a rallying cry, emphasising the dynamic nature of the blockchain industry, where adaptability and novel approaches are prerequisites for success.

An interesting highlight is the success story of tokenising art, particularly through Non-Fungible Tokens (NFTs). Lian points to the added value brought to physical artworks through NFTs, presenting a compelling case for the broader integration of tokenisation in the art world.

The success story of art tokenisation, especially through the lens of NFTs, accentuates the transformative power of blockchain in traditionally non-digital domains. Lian’s emphasis on the added value of physical artworks highlights a paradigm shift in how we perceive and interact with art.

The integration of NFTs not only unlocks new revenue streams for artists but also democratises art ownership, allowing a broader audience to participate in the art market. This success story becomes a beacon for exploring similar opportunities in other industries where tokenisation can bring about significant value addition.

Challenges of tokenisation

Transitioning to the challenges hindering the widespread adoption of tokenisation, Lian and Abutalibov identify two significant hurdles: regulatory complexities and the prevailing reality. The lack of standardisation across different asset classes and varying regulations in different jurisdictions present formidable obstacles.

Also Read: From potential to prosperity: Blockchain’s role in reshaping Southeast Asian economies

The identification of regulatory complexities and the prevailing reality as significant hurdles offer a sobering reflection on the impediments to the widespread adoption of tokenisation. Lian and Abutalibov’s emphasis on the lack of standardisation across asset classes signals the need for a unified regulatory framework that accommodates the diverse nature of tokenised assets.

The jurisdictional variations compound the challenges, requiring a concerted effort from global stakeholders to streamline regulations and foster a conducive environment for tokenisation to flourish.

Lian expands on the scepticism that still exists around the necessity of tokenisation. He observes that despite technological advancements, a sizable portion of the population questions the practical utility of tokenisation, slowing down its accelerated adoption.

Lian’s exploration of scepticism unveils a crucial aspect of the adoption curve for tokenisation. Despite the undeniable technological advancements, a segment of the population remains unconvinced about the practical utility of tokenisation.

This scepticism, rooted in a lack of understanding or clarity, becomes a barrier that extends beyond regulatory challenges. Lian’s observation underscores the importance of comprehensive education and awareness campaigns to demystify tokenisation, fostering a more inclusive and informed approach to its adoption.

Potential tokenisation use cases

The conversation explores potential use cases beyond traditional assets. Lian expresses optimism about the tokenisation of carbon credits, emphasising the traceability benefits it can bring to this sector. Additionally, he notes the increasing recognition of stablecoins by government bodies, especially in the context of Central Bank Digital Currencies (CBDCs).

The exploration of potential use cases propels the conversation beyond the realms of traditional assets, opening up new vistas for tokenisation. His optimism about tokenising carbon credits underscores the broader environmental and sustainability applications of blockchain. The emphasis on traceability aligns with the growing demand for transparent and accountable solutions in sectors crucial for global well-being.

Furthermore, stablecoins and their recognition by government bodies signal a shift in the perception of digital currencies, with central banks exploring their own digital versions. This recognition not only validates the concept of stablecoins but also marks a step toward mainstream acceptance of blockchain-based financial instruments.

Future impacts on the financial industry

Looking ahead, Lian speculates on the transformative impact of tokenisation on the financial industry. Envisioning increased efficiency in transactions, he anticipates faster and cheaper money transfers if tokenisation is embraced on a large scale. Lian underscores the importance of translating technological potential into practical applications to realise these transformative benefits.

Also Read: Understanding the role of fintech, blockchain in transitioning to net zero

Lian’s foresight into the future impact on the financial industry offers a glimpse into the transformative potential of tokenisation. The anticipation of increased efficiency in transactions aligns with the fundamental promise of blockchain technology.

Faster and cheaper money transfers emerge as tangible benefits, resonating with the ongoing quest for streamlined financial processes. His emphasis on translating technological potential into practical applications becomes a rallying cry for stakeholders to bridge the gap between innovation and real-world implementation, unlocking the full spectrum of transformative benefits.

Drivers of mass adoption

Considering the drivers of mass adoption, Lian emphasises the crucial role of everyday people using crypto. He envisions a “wow” moment when the retail investor base grows substantially, contributing to the next surge in crypto adoption. Drawing parallels to China’s widespread adoption of digital payments, he hopes for a similar scenario where people seamlessly use crypto for everyday transactions more effectively and economically.

His reflection on the drivers of mass adoption shifts the focus to the end-users – everyday people using crypto. The anticipation of a “wow” moment parallels the disruptive shifts witnessed in other technological revolutions. The envisaged growth in the retail investor base becomes a pivotal catalyst for the next surge in crypto adoption.

His comparison to China’s embrace of digital payments underscores the transformative power of widespread user acceptance. The aspiration for seamless crypto integration into everyday transactions highlights the need for user-friendly interfaces and widespread accessibility, laying the groundwork for a more inclusive crypto landscape.

The role of NFTs in tokenisation

Lian concludes the conversation by referencing his book, “NFT from Zero to Hero,” born out of a desire to guide friends away from potential scams in the NFT space. He aims to simplify the tokenisation of loyalty programs for companies. Contrary to the notion that NFTs are losing relevance, Lian points to successful projects like Oracle Red Bull Racing’s NFTs as evidence of the continued vitality of the NFT space.

Also Read: Tether under scrutiny: A deep dive into cryptocurrency crime allegations

His conclusion encapsulates the multifaceted role of NFTs in tokenisation. His book not only reflects a personal commitment to guiding others but also underscores the need for education in navigating the dynamic NFT space. The simplification of tokenising loyalty programs emerges as a practical application of NFTs in the corporate realm, showcasing their versatility beyond the art and gaming sectors.

Lian’s debunking of the notion that NFTs are losing relevance becomes a testament to their enduring impact, with successful projects like Oracle Red Bull Racing’s NFTs serving as proof of concept. Far from losing vitality, the NFT space continues to evolve and find new applications, contributing to the ever-expanding narrative of tokenisation.

In conclusion 

In this fireside chat, Lian provides a nuanced perspective on the current state and future possibilities of real-world tokenisation. The challenges and opportunities discussed paint a comprehensive picture of an industry on the cusp of significant developments.

As the conversation delves into potential applications, regulatory hurdles, and the transformative impact on the financial sector, it becomes clear that real-world tokenisation is a dynamic space with immense potential yet to be fully realised.

His perspective emerges as a guiding light for industry stakeholders navigating the intricate landscape of real-world tokenisation. The challenges outlined serve as waypoints for strategic considerations, urging a proactive approach to address impediments. Simultaneously, the opportunities highlighted become beacons for innovation, signalling the untapped potential awaiting exploration.

The fireside chat, rich with insights and foresight, positions Lian as a key influencer in shaping the trajectory of real-world tokenisation, inspiring a collective journey towards unlocking its transformative power.

World Tokenisation Summit was held on the 21st of November, 2023, in Dubai. More information on the fireside chat can be found here.

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image courtesy of the author

The post Real world tokenisation fireside chat with Anndy Lian: Unpacking the landscape appeared first on e27.