Sl-malaysia Biz Council to discuss pathway to smart economy with blockchain

The Sri Lanka-malaysia Business Council is organising a presentation and panel discussion with industry experts on blockchain technology for its membership and other interested parties.

The event will take place on July 5, 2018, at 4:30 p.m., at Galadari Hotel, Colombo.

The presentation will be conducted by Malaysian industry expert Stephen Chia, who has been tasked to develop and grow the NEM technology in Southeast Asia as its Regional Head.

He is also a Council Member of the NEM.IO Foundation Ltd and Director of the NEM Blockchain Centre, the largest blockchain centre and blockchain co-working and entrepreneur hub in Asia located in Glo Damansara, Kuala Lumpur.

Chia will provide an introduction to blockchain technology, discuss its significance in the digital economy, regulations and challenges and how Sri Lanka can benefit from it.

He will also highlight its use in the various industries including shipping and logistics, supply chain management, general data protection regulation, personal data, etc.

Blockchain is decentralized shared ledger technology. Through blockchain, the total transaction circulation can be easily traced. It is because every node present in the network validates every transaction and the same is updated in all shared ledgers and these ledgers cannot be tampered.

Blockchain is making its way into a variety of industries, creating trust systems that undercut the traditional profiteering systems that have enabled the nascent sharing economy, by providing peerto-peer interactions with transparency and security.

Since change is the only constant, it has the potential to bring about a revolution and moving from a conventional way of working to a more secure and trustworthy platform is the need of the hour. Blockchain is one such change that will challenge the status quo in every sector and it will prove as a boon for digital economy.