WBF Singapore was a very successful crypto event held at the Marina Bay Sands, co-hosted by S Block. DigiFinex participated on a panel to discuss many relevant blockchain issues. We were grateful for this opportunity to share our views with over a thousand attendees!
Our Singapore general manager Dennis Hui represented our exchange. He spoke on topics including the Financial Action Task Force regulations, Facebook’s Project Libra, and Bitcoin 2019 year end price predictions.
Panel Discussion Summary
1. On the subject of the new FATF crypto exchange rulings…
We believe that the idea behind making transactions from crypto exchanges more transparent is commendable. However, the execution will be tricky. Because while DigiFinex supports playing by the rules, we also acknowledge that all users have to do is transfer their assets from an exchange to non-custodial wallets. What they do beyond that is out of the FATF’s control.
2. On the subject of Facebook’s Project Libra…
A couple of issues that need to be resolved. First, the continued loss of privacy. Data risk is already an issue, therefore making your spending habits trackable gives Facebook even more resources to map out your digital identity. Next, things won’t be so easy in 2 of its biggest markets, China and India. China actively blocks Facebook, while India doesn’t have a friendly stance towards blockchain investments.
3. On the subject of Bitcoin 2019 price predictions…
Most of the panel was bullish about year end prices. Many other speakers called for targets ranging from $50,000 to $100,000. These are great, but we believe $6,000 in the near term is possible. That being said, we are still optimistic in the long run, especially with the block reward halving coming up in May.
It was our honour to be invited to speak at this event. So thanks to the team at World Blockchain Forum for letting us be a part of it!
If you’d like to see where else we’ve been, here’s a recap of DigiFinex co-founder Kiana Shek at the World Blockchain Summit.