Simon Loong
FOUNDER AND CHIEF EXECUTIVE OFFICER
WELAB HOLDINGS LTD.Nana Otsuki
CHIEF ANALYST
MONEX INC.Maaike Steinebach
HONG KONG AND MACAU GENERAL MANAGER
VISA INC.Ahn Le
PARTNER, FINTECH PRACTICE
CHINAROCK CAPITAL MANAGEMENT VENTURESAs the pace of innovation has accelerated,
particularly in a tech hotbed such as the
[Guangdong-Hong Kong-Macau] greater
bay area, companies can overlook the
importance of an open, interoperable
customer experience. This is not a
groundbreaking idea, per se. But the
main challenges for fintech are also con-
sumers’ challenges—namely, how can
we broaden consumer choices when it
comes to payment? Consumers should
be able to pay with whichever payment
method they choose, be it standardized
contactless payments or QR code via
digital wallets, at the point of sale. For
that to happen, we need to foster an open-
loop payment ecosystem, enabling full
and consistent interoperability.With so many devices connected to the internet, from
laptops to mobile phones to wearables, people are
generating a vast amount of data. In 2015 an
average person generated around 0.32 gigabytes per
day. By the year 2020 it is estimated that an average
person will generate 1.5 gigabytes per day. ¶ Hence
in today’s world of complex information systems
and connected platforms/networks, it is crucial to
explore creative solutions to extract valuable insights
from users’ data while protecting users’ data privacy
as information travels through a network of systems.As the global society gets older, we need to think
about offering more creative business opportunities
for elderly people. Some may think about writing
novels, doing research and teaching history, or pro-
gramming for apps. They could provide their services
or products via the internet, and companies could
offer platforms to connect them. The target custom-
ers for these products would be also elderly people.
They know what other people their age want. This
elderly-to-elderly, or e-to-e, business would give
the older generation not only money, but also moti-
vation to live long and healthy lives.
We are still early in the blockchain adoption curve. The [fintech] industry will continue to
go through various iterations in which a killer application will push the limits of the existing
infrastructure, and that demand will create a breakthrough at the protocol level—be it
scalability, interoperability, or privacy. Startups that can improve the user experience and
provide key services for developers, investors, and end users will succeed regardless of
main chain outcomes. Seamless customer onboarding, user interface, security and privacy
of personal data and assets—and a killer reason to use blockchain technology or crypto
assets—still need to happen, whether it be in developing countries or the U.S.VOLUME 28 / ISSUE 5 11