On 22nd February 2017, the world-renowned figure in blockchain technologies – Mr Andreas M. Antonopoulos today gave a talk on the subject for the first time ever in Malaysia. The talk entitled ‘A Day With Andreas – Discover, Engage and Connect to the Future of Blockchain and Cryptocurrency’ was organised by Bloktex Sdn.Bhd and Malaysian Industry-Government Group for High Technology (MIGHT) as the sponsor.
The Prime Minister of Malaysia, Dato Sri Najib Tun Abdul Razak recently announced a National Transformation @050 plan (TN50), an aspiration to place Malaysia as the top 20 countries in the world by the year 2050. To achieve this target, Malaysia needs to advance its science, technology and innovation to maintain, if not improve its competitiveness. Blockchain, which has been identified by World Economic Forum (WEF) as one of the top 10 Emerging Technologies of 2016, could potentially be the technology that would be embedded in the fabric of Industry 4.0, the next phase in the digitisation of the manufacturing sector. The technology is predicted to become mainstream globally within five to 10 years.
In line with this foresight, MIGHT as the public-private partnership that drives the advancement of high-technology competency and capacity in Malaysia has promoted the event on its MIGHT Consult and Advisory platform so as to create and increase awareness of the blockchain and cryptocurrency technologies.
Blockchain is a technology that combines database and cryptography to become a platform that allows for transfer and transacting of values in a fast, safe and economical manner. Various objects of value could be transacted using the platform such as money, arts and contracts. However, to date, cryptocurrency has been the one most often used and associated with blockchain. It is a digital monetary value that could be transacted, stored and exchanged just like a ‘normal’ currency (fiat currency) could whilst benefiting from the advantages accorded by blockchain.
Blockchain technology is lauded to be an economical alternative for transfer of monetary value as it eliminates the need for a third party as an intermediary and does not incur expensive reconciliation process.
The technology also has a unique inherent characteristic known as ‘distributed ledger’. This particular feature of blockchain records transactions, group them sequentially and thereon, allows all parties involved to track the duplicated, and thus distribute, information. Hence, the technology is promoted to be a safer alternative in transferring or transacting value as the ledger key feature is immutable (inerasable) audit trail that could be viewed by all.
Photo gallery of the event was uploaded to Bloktex Facebook page.
Mr. Andreas M. Antonopoulos is a Greek technologist in the United States. His highly specialised knowledge in a relatively new area has placed Mr Antonopoulus in various roles in advocating, promoting, application and creating awareness in blockchain and cryptocurrency. Amongst the varied roles as an advisor in helping startups to recognise, evaluate and navigate security and business risks, co-founded and managed a successful technology research company and as an advisor to dozens of Fortune 500 company executives on networking, security, data centers and cloud computing. He earned his degrees in Computer Science, Data Communications and Distributed Systems from University College of London (UCL).