Kelvin Chandran, SingleSource CEO, took some time to answer some questions about his recent trip to Hong Kong, and discuss the exciting opportunity to exhibit at the largest Fintech Festival in Singapore next week.
What took you back to Hong Kong so quickly?
Hong Kong is an established hub for the blockchain market, and there is strong interest in what we’re doing among the community there.
The main event for both SingleSource and Sylo was a meet-up held as part of the Hong Kong FinTech Week. We also took the opportunity to catch-up with potential investors and prospects who have expressed interested in SingleSource.
Tell us more about the event?
Firstly, the meet-up was held at the “Mercedes me” venue. It’s a fantastic, beautifully designed two-storey venue.
Dorian from Sylo and I had the opportunity to showcase our products. I demonstrated our eKYC and decentralised identity solutions which was really well received. The rest of the evening was taken up with two panel discussions and networking time.
What was the highlight?
There was good engagement during the networking session, with strong interest in our KYC product from businesses running technology platforms in Hong Kong and Asia. People were generally excited to see a live working blockchain solution.
What did you learn?
The market is changing quickly. I found the discussion on security tokens fascinating, especially the direction of the token market and increasing regulatory scrutiny its currently facing.
What was clear is that security tokens will still need time to navigate these challenges before they are released onto the market. There is a lot of caution around the types of projects funded through ICO. Investors are looking for more than just a utility token, they are interested in other structures to provide additional comfort when investing.
There is a vibrant market with good support for blockchain ideas in Hong Kong. There is a strong investment pool through to passionate venture capitalists who are keen to help nurture blockchain projects.
I was fortunate enough to meet a few of these key people while in Hong Kong, and I’ll be looking to develop partnerships to expand our business in the ASEAN region.
What did they like about SingleSource?
People liked our product; how easy it is to use and that it’s real. Of equal importance to them was that fact we have customers, revenue and a solid sales pipeline.
We are the first blockchain Identity solution to have direct access to government identification databases, e.g. NZ and Australia. Our project has multiple use cases and is close to release into the market.
When and where is your next trip?
The SingleSource team and I will be heading to Singapore in a few days for the FinTech Festival, which is taking place on 12-16 November this year.
We will be exhibiting in Hall 3 at booth 3G17 with our partners from Centrality and Sylo where we will show how the dApp ecosystem can work together to provide a seamless customer experience on the blockchain. We will also demonstrate our eKYC product, also described as high speed onboarding solution.
Nick and myself are available for one-on-one sessions at the event to discuss how the SingleSource decentralised risk scoring and identity platform helps businesses streamline their customer onboarding, while meeting your KYC and AML obligations.