JAKARTA - The digital currency ecosystem has had a crazy year. The Bitcoin market capitalization has grown from $11 billion on June 5, 2016 to almost $47 billion USD on June 5, 2017.
Negative news during that time included a 120,000 BTC heist from Bitfinex, worth $65m then and $350m now. The Winklevoss twins sought to create an exchange traded fund dealing in Bitcoin, but they were denied.
Positive events were much broader, including Japan recognizing the coin as a legal payment method, Russia reversing their prior stand against Bitcoin, and Australia adjusting its policies to remove a double taxation problem for those accepting digital currencies.
Now a new phenomenon is sweeping the market, the Initial Coin Offering (ICO).
On this basis, Blocktech.co.id held the ICO World Tour: What Investor Should Know About Initial Coin Offerings' event in Jakarta on Monday (30/10) featuring speakers from NYC, Europe, China and Singapore. This event present CEO MiCai Gregory Van Den Berg, CEO Bluzelle Pavel Bains, CEO Eximchain Hope Liu,
Co Founder Blocktech.co.id and Sense.capital Steven Suhadi and President Director DataOn and Blocktech Gordon Enns.
"Blocktech will be a leading expert with Asian countries to enable Indonesia to know about block chain and crypto currency," said Steven Suhadi, Co Founder of Blocktech.co.id in Jakarta, Monday (30/10).
It hopes this application will run in the next few months.
"So it's not a matter of years, next year is ready. We will welcome for entrepreneurs to use this system," said Steven.
He said Indonesia is ready to do this application.
"Indonesia's GDP has started to rise. So Singapore is still number one, but there are many block chain companies that are looking at Indonesia," he continued.