SEC Business Leaders Learn about Blockchain, Cryptocurrency, & ICO Crowdfunding
In the second series of growing capital for companies, SGTECH Singapore Enterprise Chapter organised a workshop on different methods of financing on 31st August 2018. The session engaged with owners of companies, finance directors and members of the industry who were keen to know how Initial Coin Offering works, what are the myths, and what to lookout for.
(Mr Jeremy Tan, Chairman of Singapore Enterprise Chapter, welcomed all to the session. )
With a Blockchain vision to develop and unite communities into a “B-commerce” network that helps drive adoption and innovation, Mr Lanon Wee, Managing Director of Helios Media Design Pte Ltd called out to the audience to participate in the blockchain committee.
The aims of the committee are for:
(Sharing by Mr Lanon Wee, Managing Director of Helios Media Design Pte Ltd)
1) INFORMATION SHARING
Listening - Finding out the needs from the ground regarding affecting policies and supplying resources
Observing - Analyze market conditions and discuss how to collectively adapt to new situations
2) STRUCTURING & FRAMEWORKS
Structuring - Creating simple frameworks for members to know their roles and help share resources
Action Team Formation – Assembling volunteers to help tackle strategic positions and gather resources or members
3) GROWTH & DEVELOPMENT
Pilot Programs – Getting communities and teams to directly contribute to large scale projects or to develop POCs to affect policies
Userbase upport – Growing the member base through targeted publicity campaigns and provisioning for community support
In the intro of Blockchain and Cryptocurrency, founder of OKM Holdings, Mr Ong Kai Min provided an overview of the relationship between Blockchain and Cryptocurrency, the prospect of Cryptocurrency, MAS’ views on Cryptocurrency, and what is ICO.
(Sharing by Mr Ong Kai Min, Founder, OKM Holdings)
He was followed by Mr Lawrence Yong, CEO of Moolah Sense, in speaking about Crowdfunding, entitled “Expanding Your Sources of Working Capital via Private Capital Markets”. Mr Yong provided an overview of how companies can use platforms such as Moolahsense in reaching out to investors to raise funding quickly. He also shared on various case studies of companies and the campaign summaries indicating of a range of interest rates generated from the auction.
(Sharing by Mr Lawrence Yong, CEO of Moolah Sense)
After a quick refreshment break, Mr Lee Swee Siong, Managing Director of TrueVA Capital Pte Ltd spoke about “ICOs as an alternative source of Capital”, for companies. Mr Lee covered the developments in the ICO market, discerning the good from the Bad and the Ugly. He also presented on the comparison of ICOs versus more traditional capital raising methods and the outlook of where it may lead.
(Sharing by Mr Lee Swee Siong, Managing Director of TrueVA Capital Pte Ltd)
The event ended on a high note, with the Q&A panel session consisting of:
- Mr Suresh Agarwal, MD of Agarwal Pte Ltd (moderator)
- Mr Ong Kai Min, Founder, OKMCOIN
- Mr Lawrence Yong, CEO, Moolah Sense
- Mr Lee Swee Siong, Managing Director, TrueVA Capital Pte Ltd
- Mr Joe Tusin, Chynge (sharing the perspective of companies going through ICO)
- Mr Aaron Lee, Lawyer, Chynge (sharing perspectives as a lawyer)
(from left: Mr Ong Kai Min, Mr Lawrence Yong, Mr Suresh Agarwal, Mr Aaron Lee, Mr Joe Tusin, Mr Lee Swee Siong, Mr Jeremy Tan, Mr Alex Ng, Ms Alicia Bok)
SGTECH thanks BDO LLP for the sponsoring of the event venue, and Helios Media Design Pte Ltd for the sponsorship of the refreshments. For queries on the event, or sponsorship of similar events, please email Alicia at email@example.com
Published Aug 2018