Cryptocurrency, Blockchain & Beyond: A Cautionary Tale
Dates: 25 September 2018 (8.30am - 5.00pm)
Venue: Securities Commission Malaysia
Accreditation: 10 CPE
“So my view’s quite clear. I believe cryptocurrencies, Bitcoin is the first example, I believe they’re going to change the world”
-Richard Brown, Executive Architect of IBM
The emergence of cryptocurrencies in the 21st century has become a remarkable phenomenon in the history of financial transactions and payment systems. According to a recent study conducted by the University of Cambridge, user adoption of cryptocurrencies has a combined market value of RM27 billion (Bitcoin has the largest market capitalisation) and there is an estimated 2.9 to 5.8 million unique users using cryptocurrency wallets.
While recognising that cryptocurrency transactions may not be just a passing fad and will continue to accelerate in growth, the regulatory authorities in Malaysia have advised the public to exercise caution and consider the risks associated with transactions using this digital currency. To address the prevailing issues related to cryptocurrencies, Malaysia’s first cryptocurrency regulatory framework will be introduced in 2018.
To be able to comprehend the severity of the impact of not heeding to these words of caution, participants with an interest in or who are already involved in cryptocurrency transactions should equip themselves with a thorough understanding of the basic features of cryptocurrencies, how it works, how Blockchain supports cryptocurrency transactions and most importantly, the risks involved. This programme’s primary aim is to provide a cautionary emphasis on these issues, risks and all the potential pitfalls surrounding and inherent in cryptocurrency transactions.
Participants will have an understanding of the features of cryptocurrencies and Blockchain including its uses and benefits and awareness of the issues, risks and potential pitfalls associated with cryptocurrencies.
Upon completion of this programme, participants will be able to:
- Describe the features of crptocurrency’s features and uses to users
- Describe Blockchain and how it supports cryptocurrency transactions
- Identify the future developments, innovation and challenges of Blockchain and digital technology
- Recognise the risks, issues and potential pitfalls associated with cryptocurrencies and other digital currency transactions
Interactive presentations, Question-and-Answer (Q&A) sessions and short case study discussion
Employees of Investment Banks, Stockbroking and Derivatives Companies (Dealers, Trading Representatives, Compliance, Auditors, Risk Management Officers), Fund Management Companies (Fund Managers, Compliance, Auditors, Risk Management Officers), Analysts, Merchants/Retailers/PLCs, Telco, SMEs, Investors (Retail and Sophisticated), Academicians, University Students and Insurance Companies (Compliance, Auditors, Risk Management Officers)
||Foundational (Regulatory Knowledge) - Capital Market Institutions, Capital Market Intermediaries
Islamic Capital Market Regulations & Anti-Money Laundering
Functional (Process Skills) - Know Your Client
Functional (Technical Skills) - Digital Technology Application
|Blockchain: The Mechanics of Cryptocurrency Explained
- What is Blockchain and How does Blockchain support Cryptocurrency?
- Advantages, Challenges and Issues associated with BlockChain
- Blockchain in cryptocurrency
- History and Development of Cryptocurrencies
- Main Use Case of Cryptocurrencies
- Virtual currency
- Payment rail
Speaker: Aaron Tang, Community Lead, LUNO Malaysia
- Types of Cryptocurrencies
- The Cryptocurrency Eco-System
- Cryptocurrency Mining
- Bitcoin as a Cryptocurrency
- Bitcoin around the World (Japan, Singapore, US, China etc)
- Bitcoin in Malaysia: Who are the players? How is it used?
- Will the Bubble Burst?
- Rights, Risks and Potential Pitfalls of Trading in Bitcoin
Speaker: Aaron Tang, Community Lead, LUNO Malaysia
|TED Talk Sessions – 3 sessions on various topics related to crypto, blockchain, and e-wallets (15-20 mins time slot)
- David Low, Country Manager, LUNO Malaysia
- Mr Gan Ming Chiek, Legal Advisor, Celebrus Advisory
- Mr Stephen Chia, Regional Head, NEM Malaysia
Q&A session – Forum Style led by Aaron Tang, Community Lead, LUNO Malaysia
|ISSUING INITIAL COIN OFFERINGS (ICO)
- What is an ICO? Where does it come from?
- How does it work?
- The mechanics – rights attaching to the coins
- Regulatory Landscape and Issues Rising from Cryptocurrencies and ICOs
- Level of transparency
- Security and Theft
- Rights and the Risks attached to ICO
- Other Regulatory Issues and Developments
Speaker: Mr Edmund Yong, Co-founder, Celebrus Advisory
||End of Programme
Speaker - DAVID LOW
David currently leads Luno Malaysia as Country Manager. Prior to this, he was General Manager at Honestbee, Malaysia’s on-demand food delivery service. From 2012 to 2014, David also worked as the CEO of a global bubble tea brand, Chatime in Xiamen city, China. David is a law graduate from the University of Reading, UK and possesses a certificate for legal practise.
Speaker - GAN MING CHIEK
Ming Chiek is a corporate, mergers & acquisitions (M&A) lawyer who has extensive experience in local and cross-border M&A, foreign direct investment, ASEAN based private equity and venture capital transactions and corporate structuring matters.
Apart from his conventional legal practices, Ming Chiek has since early 2017 ventured into the blockchain scene and has advised a number of international blockchain projects in Singapore, Malta and Gibraltar.
Through involvement in these projects, he has established a wide network of local and foreign partners from these crypto valleys. He believes that crypto market is converging and blockchain technology is going to revolutionize everything from banking, supply chain, government, trading to even our identities.
Prior to this, he practiced with tier one corporate-focused law firms which regularly advise on many of the nation’s largest and most high-profile transactions.
Speaker - AARON TANG
Aaron is Marketing/Community Lead at Luno Malaysia.
In his previous role, he was the Campus Head for Leaderonomics, a social enterprise specializing in leadership development. He was responsible for developing and running development programs for university-level students across Malaysia.
Prior to his career in development, Aaron spent almost a decade in the oil and gas industry — in PETRONAS followed by Weatherford Asia Pacific. In his last role, he was a product line manager, managing a regional team of 20 engineers across Asia.
Aaron holds a degree in electrical and electronics engineering from Universiti Teknologi PETRONAS in Malaysia.
In his free time, Aaron runs an internationally-syndicated blog, which has been featured in publications such as Business Insider, The Huffington Post and iMoney.
Speaker - STEPHEN CHIA
Stephen Chia (Malaysian, age 56) has been tasked to develop and grow the NEM technology in SE Asia as NEM Regional Head. He is also a Council Member of the NEM.io Foundation Ltd. and Director of the NEM Blockchain Centre, the largest blockchain centre and blockchain co-working & entrepreneur hub in Asia located in Glo Damansara, Kuala Lumpur.
He is a serial entrepreneur with experience in the areas of property & operations management, internet services ISP, trading and marketing. Having previously served in organisations like IBM, C.Itoh & Co. and Ernst&Young, he returned to Malaysia in 1990 and started his entrepreneurial journey.
He was founder of WiNETworks and BizSurf, where it was awarded the exclusive 4G/WiMAX national licensed spectrum and wireless broadband ISP license. The business grew rapidly with the internet boom and was acquired in 2008 and is today the ISP YES network in Malaysia. In 2013, one of his startup company, ADAcode Systems received the APICTA Awards in IT innovation, and accorded the Prime Minister's "Best of the Best Award" and subsequently represented the country in the global APICTA awards competition in Brunei. Together with his wife, they also built & completed a real-estate development project in Dutamas, Kuala Lumpur with a gross development value (GDV) of US$36m.
Stephen holds an BBA in Business with an MBA in International Management from New York. He is an internet & technology enthusiast and likes discovering all things tech.
Speaker - EDMUND YONG
Edmund has held several senior management roles, as the former Asia Paciﬁc Director for a big data and blockchain-powered company on the Fortune Global 500, and General Manager of a dominant credit reporting bureau. Prior to this, he cut his teeth in ﬁnance for over a decade, where he last headed an unsecured lending arm of a sovereign fund-owned bank as Senior Vice President.
He has led several industry-ﬁrst and market-leading solutions on ﬁntech, risk scoring, and e-delivery, which are honoured with dozens of international awards for product innovation.
His career has spanned three continents, and is professionally certiﬁed in CFPI®, PDCA® and Six Sigma® Black Belt methodologies for Total Quality Management (TQM), with four academic degrees (including LLB and MBA).