Singapore, Jan 16, 2020 -- 2019 has seen digital assets trading firm BiKi.com traverse the globe to internationalize its brand. Countries such as Vietnam, South Korea, Japan, Russia, Uruguay, United Arab Emirates, Malta and other Western nations have been on the BiKi agenda for expansion or globalization plans.

The crypto exchange has thus been able to gain unique insights into the market conditions of each region. According to Ethan Ng, BiKi.com Southeast Asia CEO who leads the globalization initiatives, the rise of central bank digital currencies (CBDCs) will have a significant impact on the future financial ecosystem.

Citing Christine Lagarde who spoke about ECBs (European Central Bank) stance on CBDC, Ng shares his insights on this growing trend in 2020.

China

China is seeking a two-tiered system which revolves around the relationship between central bank, banks and consumers. With BiKi’s research lab, incubator and fund still located in China, BiKi has been paying close attention to the latest news on China’s CBDC.

“China is not one to shy away from innovation,” said Ng. “It has one of the fast-growing markets with an ecosystem of their own. Since the Chinese CBDC will not be directly consumer-facing, it will marry well with Chinese cryptocurrency censorship for consumers, yet thrive on a larger B2B level.

“The outcome is a blockchain-driven tech country, with the average joe benefiting from the technology but steered away from investment risks and scam coins which are especially rampant in the Chinese industry.”

Thailand

Launched over a year ago in 2018 by the Bank of Thailand, Project Inthanon is already in its third phase. Ng managed to speak to key opinion leaders (KOLs) as well as regulatory officials and local Thai exchanges about the impending Thai CBDC.

“I noticed in Thailand that many KOLs were speaking about Project Inthanon,” said Ng. “I believe Project Inthanon has one of the highest potential to be the first successful CBDC. Already, Thailand is so well-regulated, with exchanges, projects and the crypto media all working closely with and being regulated by the government.”

The essence of blockchain, decentralization, might be lost but the upside is that governmental regulations can protect digital currency users. This, Ng asserted, will “lower the barriers to entry for newcomers” to the technology.

Turkey

The Turkey economy has not been thriving and the digital Lira is meant to alleviate its economic crisis amidst mounting debt. Many Turkish are also turning to cryptocurrencies due to the volatility of their own currency. Hence, the government plans to expedite the release of Digital Lira, presumably by the end of 2020.

“They have real world use-case scenario plans for their CBDC. The citizens need it. And with their close ties to Dubai, it looks like these two middle eastern states will be headed for a full crypto region once these infrastructures are unveiled,” said Ng.

CBDC Impact on BTC

“If Central Bank Digital Currencies (CBDCs) are rolled out by 2020 in countries such as China, the European Union, etc, we can expect that bitcoin prices will go beyond the $20,000 price range,” declared Ng. “This is likely because the roll out of CBDCs will increase adoption from mainstream players such as institutions, MNCs and SMEs in the market. These changes will have tangible impact on the everyday lives of the masses.”

Against such a landscape, there will be an increasing acceptance amongst non-crypto believers as they witness more and more familiar brand names adopting blockchain technology or developing their own stablecoins. Already, Walmart and IBM are examples of mainstream enterprises who have adopted blockchain technology while financial institutions like JP Morgan Chase and Signet are some of the big names in finance who have developed their own stablecoins.

As BTC is the leader in the tokens market, when its value increases, the altcoins will in general also follow suit. Ng predicted that with the upsurge of mainstream attention, more discussion amongst regulatory bodies worldwide, the increasing utility of tokens especially in nations where local currency is volatile, a rise in demand for digital currencies and cryptocurrencies alike will ensue, sparking off a new wave.

The Race is On

“In conclusion, it looks like there will be a race for countries to top one another in being the first to issue a fully functional CBDC, plugging in the gaps in their current national currencies,” said Ng.

He observed that “ultimately, it will make the world much more connected financially, and more accountable to their assets.”

About BiKi.com:
Headquartered in Singapore, BiKi.com is a global cryptocurrency exchange ranked Top 20 on CoinMarketCap. BiKi.com provides a digital assets platform for trading more than 150 cryptocurrencies and 280 trading pairs. BiKi.com is focused on providing the safest, most stable and most effective cryptocurrency trading platform. 100% of the transaction fees are used in buyback and burning of platform token, BIKI. Since its official opening in August 2018, BiKi.com is considered one of the fastest-growing cryptocurrency exchanges in the world with an accumulated 2 million registered users, 130,000 daily active users, over 2,000 community partners and 200,000 community members. BiKi.com has received investments from Huobi co-founder Du Jun, Genesis Capital Zhu Huai Yang, FBG Capital, ChainUP and others totaling approximately 10 million USD.

Media Contact:
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(1888 PressRelease) Small businesses looking for an easy way to calculate 2020 payroll taxes and print paychecks in house are welcome to test drive the new ezPaycheck payroll software at halfpricesoft.com with no cost or no obligation.

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1888PressRelease - "Collective Action", the theme of the Summit this year, is to drive growth and acceleration for your business and career ambitions by creating access through the powerful contributing community.

Redmond: Women in Cloud (WiC), a community-led economic development initiative supporting and promoting the growth of women in technology and entrepreneurial ventures, is hosting the annual Women in Cloud Summit 2020 at Microsoft Conference Center - Building 33, Redmond, Washington on January 25, 2020.

Women in Cloud Summit 2020 focuses on why ‘collective action’ is important to draw light on the importance of economic inclusion in the tech industry to close the gender gap and allow for more diverse concept creation. Women are the key drivers of the economy; by accessing the resources needed to launch and sustain businesses, WiC will address the economic inclusion to co-develop and co-market solutions by providing women the tools, knowledge, and networks they need to build a successful cloud business and reach their full potential.
Women are key drivers of economic growth and WiC continues to draw light on the importance of inclusion in the tech industry to close the gender gap and allow for more diverse concept creation. This year the summit will focus on action - one of the primary pillars of Women in Cloud.

Our goals for the 2020 conference are to:
1. Spread the message and inspire the global community to take collective action to advance gender equality in all businesses
2. Bring together over 1,500 powerful, leading women in tech, aimed at building and growing cloud-based businesses.
3. Designing new innovations in partnership with United Nations Equals to provide creative space to innovate ideas leveraging cloud technologies
4. Mastering personal leadership and cloud skills to give women access to personal and professional development to increase advancement
5. Connecting executives, policymakers, industry experts, and innovators to accelerate policies, ideas and resources to unlock economic opportunities

This year WiC has also added #AISolution2030 Innovation Hub, CloudInnovateHER Pitch Challenge and Collective Action Lounge to the list of events to ensure maximum learning with great exposure. “Through the power of collective action, entrepreneurs, global leaders, policymakers and supporters of Women in Cloud will share an inspiring mission of enabling women-led tech entrepreneurs to capture $1 billion in economic opportunity by 2030,” says Chaitra Vedullapalli, Co-Founder & President of Women in Cloud.

The Women In Cloud initiative is focused on bringing global awareness and taking actions to address gender equality in entrepreneurship in the technology industry. In the last 18 months, WiC has seen significant success through building strategic partnerships and establishing a powerful network to create economic access for women.

Last year, Senator Patty Kuderer championed SR8602 which declared January 25th as “Women In Cloud Day.” In addition, WiC strategically partnered with Microsoft to expand in eight countries to create access and acceleration for women tech entrepreneurs on a global scale.

For more information on the summit reach out to them at https://summit.womenincloud.com

About Women in Cloud Initiative
Women in Cloud is a community-led economic development initiative supporting women technology entrepreneurs. Through private-public partnerships with innovative companies and leaders in tech, Women in Cloud creates access to partnership opportunities, programs that accelerate business growth in the cloud, and strategic alliances with industry cloud providers investing in the success of women in tech. Follow us on Facebook, LinkedIn & Twitter and our website at http://www.womenincloud.com”

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