Last Thursday, Asosiasi Blockchain Indonesia hosted an all-woman panel discussion on practical blockchain applications from industry experts with Meredith from ANGIN and Connector.ID as moderator. Speakers included Pandu Sastrowardoyo of Blockchain Zoo, Daphne Ng of Singapore Blockchain Association (ACCESS), and Merlina Li of Indonesia Blockchain Network shared their thoughts. If you couldn’t make it, don’t worry; here are the top four takeaways and main points of the discussion:
- Blockchain is for women! The panelists pointed out that blockchain technology and its accompanying community are well-suited towards women. Whereas other nascent technologies at the time (i.e. big data) involved big risk with intangible or uncertain reward, blockchain is something built upon years of existing technology with monetary value and actual application. Blockchain communities and fellow “blockchain bros” have also been more supportive of women than their counterparts in, say, the data science field, according to the panelists.
- Blockchain is not sexy: You should view Blockchain as a technology tool that will be part of your solution. Maybe 20-30% of your product will have blockchain aspects, but the rest will be other vital components such as user experience, marketing, business model, team, etc. Just because you have a blockchain startup does not mean you can ignore the other considerations of your company.
- Blockchain and social impact go hand in hand: The use cases for blockchain largely involve socially impactful causes. Examples include supply chain logistics to encourage fair labor conditions, creating tokens for supporting refugee relief projects, and renewable energy among others.
- Blockchain both creates and requires more efficient and transparent systems: Blockchain has the capability of creating a more transparent society; transactions cannot be erased or duplicated on the blockchain, making it ideal for use cases like medical records, digital identities, and crossborder transactions (among others). However, this also requires a world where adopters are willing to be transparent. For instance, a hospital adopting blockchain technology for medical records must be comfortable with the implications – transparency in treatments and patient medical history, risking patient realization of possible medical malpractice. While this should encourage more cautious medical practice, it is easier for hospitals to simply refuse to be transparent. Thus, while the technology may exist, the market may not be willing or ready for the adoption of the technology.
- The future of blockchain is bright in Indonesia: Indonesia’s large population and friendlier regulations make for a great market opportunity for blockchain startups. Whereas in Singapore blockchain solutions must compete with other existing and established solutions, there is no such thing in Indonesia. An example is a centralized medical record system – something Singapore already has, but something Indonesia lacks. Therefore, a blockchain solution may face more resistance being adopted in Singapore versus in Indonesia, where the market is craving that solution.
ANGIN and Connector.ID are happy to have played a part in this fruitful discussion on the future of blockchain technology, especially as it pertains to Indonesia. We hope to continue being a part of these events in the future and look forward to the next one!