Crypto is Worthless: Discuss

6 July 2022 @ 10:00 am - 11:30 am

SICC Members' Room

Subject Title: This House believes Crypto is worthless: discuss.

That was the proposition for today’s roundtable on all things crypto. We had the ideal panel and audience to discuss it.

After a presentation made by Tim Zhang, Digital Champion for a world-renowned Sovereign Wealth Fund, but speaking strictly in his personal capacity only, we had a panel conversation with Tim, Rena Chai, Senior Director Microsoft Asia and Malcolm Tan, Chief Strategic Advisor, Technicorum Holdings Pte Ltd moderated by Victor Mills, Chief Executive, SICC.

The proposition was defeated for the following reasons:-

  1. The chief value of crypto lies in the technology which continues to evolve
  2. That technology is an enabler of much cheaper cross-border payments
  3. SICC itself has achieved value from its electronic Certificate of Origin (eCO) platform developed by its experts and Chamber member GUUD. It is the world’s first blockchain enabled eCO platform
  4. Crypto is establishing itself as a 5th asset class for investors
  5. Good regulation will legitimate crypto

None of the above underestimates the risk of trading in cryptocurrencies as this year’s market extreme volatility has conclusively proven. Neither do the above reasons underestimate the huge amount of energy needed to mine cryptocurrencies.

The Chamber thanks Tim, Rena and Malcolm for sharing their knowledge and expertise and our very passionate audience too for their input all of which contributed to a meaningful learning experience for everyone.

Watch the roundtable here.

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