The formation of ‘Asia Blockchain Promotion Global Consortium’ was announced by ASTON, a Korean blockchain platform company, on Nov 1, indicating the arrival of the Singapore-Korea region as the hot hub for blockchain technology evolution as well as dApps development.
ASTON is a technology company and is working on its MainNet currently. Upon completion, it would form the backbone of the consortiums’ offerings. The inclusion of diverse companies shall allow the company to operate in multiple specialized niches.
Apart from ASTON, the new collaborative effort will include – Bcoin based in Singapore, Bimax.io based in Korea. A new and important member, Singapore-based Neo Global Capital (NGC) would arrive on the platform with the completion of the launch of a crypto fund of ’30 billion KRW.’ Working with the consortium, NGC will also incubate and provide financial assistance to startups and other organizations looking for additional infrastructural help of aid to develop to the next level.
All development coming out of this platform will be mentored by a legal co-founding member, OhKims Law, and Company which will offer “One-stop service.” It will support the organization by providing the needed spectrum of consultation services, including listing on exchanges, offering investments and also encourage the adoption and creation of the blockchain system.
The consortium is expected to commence operations after its establishment is completed by the end of November in Singapore. It would be attracting new ideas for the growth of the blockchain industry and a business plan post the meet-up and the launch of the start-up contest to be launched by the organization at the earliest.
The idea of the consortium appears to be modeled around the latest insight being shared by industry experts from regional and international markets that – the future of the economic development and eventually transactional systems would include bitcoin, ethereum or litecoin, and its variant altcoins any time soon.
In the latest industry message, Andrew Wong, one of the top-level executives of the International Digital Currency Markets (IDCM) had indicated that use of cryptocurrencies would be a dominant factor. But on the subject of mass adoption of this alternate system he added that for that to happen at a scale where there would be an impact, it would be several years away. The main issue with the use of these virtual assets thus far is the question of mass-use or scale, apart from the need to ensure higher standards of accessibility as well as the less complex use of this currency by the common user. On the question of scaling the use of cryptocurrencies, the development of dApps on the ASTON platform is expected to change the ways of things to come in this sector.
However, the initiation by ASTON and its co-partners is a defining moment in the history of cryptocurrency development in the South East Asian region. It is one of the first official formations of multiple sector specialists who will work cooperatively to provide the necessary range of services for developing the cryptocurrency ecosystem in this parts of the world.
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