Sectors urged to gear for blockchain
TO INSPIRE interest and increase the readiness for blockchain technology in all sectors, Total Access Communication (DTAC) yesterday in cooperation with the Ministry of Digital Economy and Society, the National Broadcasting and Telecommunications Commission and Nation Multimedia Group held a seminar titled “Blockchain Revolution: Surviving and Thriving in the Second Era of the Internet”.
The seminar in Bangkok was aimed at preparing the public and private sectors and Thai citizens for the upcoming disruptive technology that will revolutionise all areas of business.
According to Wikipedia, blockchain “is a distributed database that maintains a continuously growing list of ordered records”.
DTAC says it believes blockchain is a key technology that will drive the sustainable growth of Thailand’s digital economy.
Lars Norling, the company’s chief executive officer, said DTAC was committed to supporting the government’s “digital economy” strategy and was aiming to become Thailand’s leading digital brand by 2020 by adopting blockchain technology.
“Blockchain is a disruptive technology that will drive the development of the digital economy, not only in Thailand but also other countries around the world. It will not only transform the world of business and financial services, but will also elevate and improve the quality of people’s lives in the same way as the online world has impacted society,” he said.
To avoid missed opportunities, he said, strategists, planners and policymakers in the telecommunications industry should be aware of the influence of this disruptive technology on the telecom ecosystem in the near future.
Meanwhile, the government plays a key role in setting policy and strategy, focusing on promoting and developing business creation and eliminating obstacles in order to maximise benefits to the people and establish a digital infrastructure and spectrum development strategy, leading to sustainable development, he said.
Vunnaporn Devahastin Sutthapred, inspector-general of the Ministry of Digital Economy and Society, said blockchain was an innovative technology that government organisations should be aware of and learn how important it is as well as how to adopt this kind of technology.
Blockchain has the potential to transform all kinds of businesses and contribute to the country’s growth, aligning with the government’s “Thailand 4.0” development model that aims to improve incomes, quality of life, and sustainability as well as to establish digital access and reduce inequalities in the society, the seminar heard.
Alex Tapscott, co-author of the book “Blockchain Revolution”, said blockchain marked the second era of the Internet, which had moved from the Internet of information to the “Internet of Value”.
Blockchain aims especially to transform financial services, he said. The role of blockchain for the central bank includes cost efficiency, inclusion and performance, and transparency and risk reduction.
Tapscott is the founder and CEO of Northwest Passage Ventures, a venture-capital firm that has been investing in companies in the blockchain market for seven years in the Canadian and US capital markets.
