Justin Kim, Head of Asia at Avalanche, discusses the platform's unique architecture that enables purpose-built blockchains and its recent achievements in Asia. Avalanche became one of four cryptocurrencies approved for trading by Hong Kong authorities, allowing companies to create their own dedicated chains. This addresses scalability and regulatory compliance concerns, making it attractive to enterprises. Avalanche has established partnerships across the region, including with financial institutions in Singapore and gaming companies in Korea and Japan. The platform has been successfully implemented for cross-border payments in Singapore by Alipay and Grab, solving data privacy regulations and eliminating banking intermediaries. Singapore actively supports blockchain innovation, making it an ideal testbed for projects. With JP Morgan and Citibank implementing blockchain solutions in Singapore, they may advocate for similar projects in the US. Gaming and finance are sectors where blockchain can provide significant value, as demonstrated by "Off The Grid" and Suntory's implementation of NFC chips on whiskey bottles. Purpose-built blockchains are growing in popularity across Asia, and Avalanche is showcasing successful implementations at the Hong Kong Consensus.



Other News from Today