November 7, 2018
As a proud partner of Nhip Cau Dau Tu magazine (NCDT), Infinity Blockchain Labs (IBL) attended the magazine’s 11th annual Investment Conference 2018, called “Economy 4.0: From Evolution to Revolution.” Attracting more than 500 CEOs and experts in various fields, the conference enables networking within a macroeconomic scope and discussed experiences in managing businesses and significant business trends.
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The conference focussed on different paths for businesses during the “economy 4.0” as well as sustainable growth and creating breakthroughs to move businesses beyond their competitors in terms scale and efficiency. The conference also shared lessons from large Chinese investors on the path to economy 4.0 on a global scale.
More than 500 leaders in attendance for the publicized event
One significant feature of this year’s conference was its focus on applied Vietnamese technology, thereby creating a high level of inspiration for business leaders in the era of globalization.
This year’s conference was honored to welcome reputable experts with experience in investing in global technology corporation such as Baidu, Alibaba, along with leaders of most successful business and technology companies in Vietnam. The presentations along with the great networking opportunities will assist entrepreneurs, business leaders, and managers understand the nature and capacity of the economy in its full power.
Members of IBL’s team in attendance
The conference discussed the current state of world economics and the industrial revolution 4.0 at great length. Several presenters discussed the trade war between the United States and China and how it affects the economic forecast of Vietnam. The trade war compared to a “family feud” among the world’s superpowers. Along with other world economic issues, the conference discussed how Vietnam should respond to changes approaching in the fourth technology revolution.
Tina Ju – founder and CEO of KPCB China & TDF Capital
The fourth technology revolution represents the age of disruptive technologies. Disruptive technologies, like the introduction of the internet years ago and the future with blockchain, have the potential to change the foundations of many sectors and industries radically. The conference went on to discuss enormous changes in the future with the sharing economy, e-commerce, artificial intelligence (AI), and the health sector.
Assoc. Prof. Ph.D Trần Đình Thiên – Economics expert, a member of Prime Minister’s economic advisory group, discusses disruptive technologies
In embracing disruptive technologies, the private and public sectors need to be daring and brave in their quest towards innovations. The conference emphasized the necessity of changing to adopt disruption to survive. Assuming a sector, industry, or business can properly adopt to approaching technologies, there are a wealth of opportunities to grasp. Governments should take roles in facilitating innovation and unlocking the potential of people while providing support.
The potential power of blockchain technology reflects the basis of much of the disruptive potential of revolution 4.0. David Lang, the Chief Product Office (CPO) for IBL, discussed the power of blockchain as an industry disruptor at NCDT’s Tech Summit 2018 in September.
At Tech Summit, David discussed the importance of embracing early disruptive technology in differentiating the conventional business mindset from the “Crazies.” The conventional business acumen leads the business minded to a conservative and observant mindset, a mindset that is cautious in uncovering value. The “Crazies” on the other hand have the foresight, ability, and courage to discover and take advantage of the value of disruptive potentials early by forecasting their impacts on changing industries.
Mr. Lang noted a handful of challenges one must overcome when becoming one of the “Crazies.” There is an initial doubt where one fails to trust the value of a potential industry claiming to change the world. There is a scalability concern where one is concerned about when adoption of the technology could realistically take place. Furthermore, there is a monumental concern of the legality and regulatory impacts of such a technology. When the “Crazies” manage to identify the potential value of a disruptive industry, they take steps to remedy the stated challenges in realizing the immediate growth. David explained “enterprises are accelerating the speed of awareness and knowledge of employees in the field of electronic money.
Mr. Lang gave examples of a few key industries embracing the potential of blockchain like the Fintech(financial tech) and banking industries and the use of medical records in the healthcare industry. David went on to describe blockchain’s impact on the supply line industry in presenting the case of Fruitchain, the blockchain-based product traceability solution for Vietnamese agriculture. To both illustrate the legitimacy of blockchain and convey the proactive nature of companies in uncovering blockchain’s potential, David advised the crowd to look to the blockchain related patents filed by the some of the biggest companies in the United States as an indicator of the future applications of the technology.
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Infinity Blockchain Labs (IBL) is a visionary R&D company committed to advancing society with next-generation solutions. We are currently the blockchain ecosystem leader in Vietnam with a global reach. Our mission is to be the R&D engine that transforms future technology into practical applications for business and everyday life. Named one of the top ten blockchain technology solution providers in 2018 by APAC CIO Outlook, our 200+ employees at IBL aspire to empower Vietnam to become the global leader in blockchain research and development.
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