Blockchain Jungle Guide
    Category: Financial Revolution By : Ardian Wibisono Read : 609 Date : Friday, March 02, 2018 - 00:10:44

    Ahmad Zamroni / Forbes Indonesia

    While cryptocurrencies such as Bitcoin remain controversial, there’s widespread agreement that blockchain, the underlying technology of cryptocurrencies, promises a wide range of useful, even revolutionary, applications. Many top-level tech firms such as IBM and Oracle are already offering blockchain-based products on the market, and local tech firm Dattabot is building a blockchain-based app for use in agribusiness.

    The newly established Blockchain Zoo sees an opportunity both in Indonesia and Southeast Asia for blockchain technology—it doesn’t touch cryptocurrency. “We actually see a market for the technology when we opened in June 2017, as people started to come to us. I remember we did nine to 10 parallel projects in one time. That showed the demand,” says Pandu Sastrowardoyo, cofounder and chairwoman of the Ubud-based Blockchain Zoo. “With our potential and talents, we also want Indonesia to take part in the blockchain revolution.”

    Researcher IDC forecasts that Asia Pacific excluding Japan (APEJ) will spend $282 million on blockchain solutions this year, almost double the $149 million spent in 2017. IDC expects APEJ’s blockchain spending to grow at a robust CAGR of 91% over the next five years to 2021, faster than the projected worldwide growth of 81%.

    “Blockchain technologies are being adopted by a wide range of industries across the Asia Pacific region,” says Simon Piff, vice president of researcher IDC Asia/Pacific. “While many of the use cases are coming from the financial services industry; in markets as diverse as Australia, Thailand, and Singapore, we are also seeing strong acceptance across the entire supply chain, from food provenance to logistics.”

    Pandu worked at IBM for six years in various areas before she set up Blockchain Zoo. Pandu also works with the charity Mitra Netra helping blind people to learn coding and study computer science at university. She was an early investor in Bitcoin when it sold for less than $1 but exited when it hit $1,400 a coin. At that time, she had already realized that blockchain was an important new technology.

    Her turning point came when she managed IBM Managed Service Provider, where part of her job was looking at ways to apply new technologies. Pandu began discussing blockchain opportunities with the tech gurus, Frenchman Jean-Daniel Gauthier and Italian Roberto Capodieci. They joined together to found Blockchain Zoo. Each founder brought their own expertise, Pandu’s was working with big companies on tech issues. The company’s motto is a playful one: “Bringing clarity to the blockchain jungle.”

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