Leaders of the Association of Southeast Asian Nations (ASEAN) need to establish a platform that would boost multi-country regulatory experiments and cross-border innovation hubs to better prepare the region for digital futures.
The Asian Development Bank (ADB) and the World Economic Forum (WEF) have launched a joint report “ASEAN 4.0: What Does the Fourth Industrial Revolution Mean for Regional Economic Integration?” which discusses the impact of the Fourth Industrial Revolution on ASEAN.
The Fourth Industrial Revolution refers to a set of highly disruptive technologies, such as artificial intelligence (AI), robotics, blockchain and 3D printing, which are transforming social, economic and political systems.
“It (revolution) will bring huge benefits, such as empowering SMEs (small and medium enterprises) and creating new ways to connect citizens to healthcare. Equally, it will bring tremendous challenges, such as deep disruption to jobs as AI and advanced robotics undermine both manufacturing and services jobs,” the report said. Read more here... Everywhere we go, the talk on the future of money is being discussed and that future is cryptocurrency. While many countries in Asia are resisting the changes brought on by the blockchain technology and the emerging interest for Bitcoin, it would soon be unstoppable and soon those who are banning Bitcoin will be gradually coming back into the table. Once China will be opening itself back for Bitcoin, it can be the catalyst and signal for the others to follow.
Asia is an emerging market for Bitcoin and cryptocurrency and ASEAN as the major group of countries will be playing the pivotal role in its expansion. The future of cryptocurrency belongs to Asia and we will see this unfolds before our eyes in the coming years.
