New Zealand: Gradually becoming the global center for Blockchain businesses

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New Zealand to become a worldwide Blockchain business center

 James Brown, FintechNZ general manager says, New Zealand to gradually become a global blockchain center.

According to him, New Zealand is an active workroom for developing global tech and inventions; and Kiwis are presenting blockchain businesses that have a global marketplace.

“There is an increasing number of blockchain launches including Kiwi firms involving Blockchain Lab NZ which has helped raise over NZ$410 million by initial coin offerings.”

“Some of New Zealand’s tech stars are involved in a global team which lately originated the world’s first ever blockchain platform for the multi-billion-dollar global online ratings and review enterprise,” says Brown.

“The blockchain platform will transform a complete global industry and illustrate how blockchain can solve real-world problems,” Brown says.

Blockchain, a continuously expanding list of records, called blocks, which are associated and secured using cryptography or coding, is a comparatively new technology that is being used to solve problems in a growing number of industries.

Capital Trust Group (CTG), a New Zealand financial technology advisory services provider, has established partnerships to form three blockchain projects in Wellington.

Brown says Kiwi firm Centrality recently raised the equivalent of NZ$110.5 million in virtual currency that can be used in an online marketplace.

Brown said:

“In Christchurch, Cryptopia has grown from being a two-person team 12 months ago to employing 50 people and being one of the more significant cryptocurrency exchanges in the world. A year ago, Cryptopia had 30,000 users, which jumped to one million in December 2017. After the first week of January this year, the number of users hit 1.4 million. Yet we may be at risk of adapting our regulation too slowly. Not just in New Zealand but globally. So, it is great to see some of the best minds in blockchain working in New Zealand via the Edmund Hillary Fellowship including on the development of regulatory frameworks.”

Brown Included:

“We are seeing a significant number of people on the Edmund Hillary Fellowships that are focusing on the blockchain. The co-founder of one the world’s biggest blockchain businesses has talked to New Zealand regulators about opening up the market here.”

Co-founder of Coinbase, Fred Ehrsam, where Coinbase is estimated to be worth more than US$500 million, visited New Zealand after being selected for the first intake of the Edmund Hillary Fellowship.

Late last year, an Edmund Hillary Fellowship group of specialists produced a paper saying blockchain would be the next internet which will transform society and commerce over the next 20 years.

Estonia has used blockchain to build the most digitally advanced society in the world in spite of being a tiny Soviet nation. Its government is virtual, borderless, and secure and its citizens have state-issued digital identities, which allow them to provide digital signatures when using e-services.

“We look forward to comparable progress here in New Zealand, and the 2018 Finotec conference in November will bring the New Zealand fintech community together with Government to help expedite the process”, says Brown.

Garry Singh

Garry is an experienced entrepreneur, and co-founder of a UK based technology company Quickdesk Solution Ltd., with a demonstrated history of working in the information technology and customer services industry. Skilled in technical writing, he is a strong business development professional with a Bachelor's Degree focused in Information Technology and Masters in Business Administration.