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Evening cityscape with illumination of building including Petronas Twin Towers. Kuala Lumpur, Malaysia[/caption]
Crypto is one of the most happening industries out there. Even Southeast Asia appears to be in the race with new crypto-based businesses popping up every now and then.
Let’s have a look at three blockchain-based projects in Southeast Asia that you must be aware of:
The foundation aims to target the unbanked and under-served by trying to push blockchain-based projects towards mass adoption with its tools.
The company hit the bull’s eye when it secured funding from 500 Startups in its first phase of funding. The truth is that despite blockchain being so popular, it’s still not close to mass acceptance largely because people are still not aware of blockchain and how it can help them.
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Stack of cryptocurrencies. Bitcoin and most important cryptocurrency concept[/caption]
HelloGold aims to change this. It’s working towards introducing people to the blockchain, which will not just help people but also companies that intend to launch blockchain-based tools.
The company also has a mobile app that lets people “buy, store and sell physical investment-grade gold for as little as a fraction of a dollar.”
This Syariah-compliant platform has plans to expand globally, especially in the Muslim world, where Syariah laws are prevalent.
DACSEE, short for Decentralised Alternative Cabs Serving & Empowering Everyone, is a Malaysian ride-sharing platform that’s based on the blockchain network.
It works just like Grab and Uber but is based on the blockchain, which makes it safer to use. Currently available only in Malaysia with over 25,000 drivers, the project aims to go global and spread to other parts of the world.
The company also has a reward system that rewards drivers for their performances, which can be a motivator for more drivers to join the platform. Plus, it’s also more affordable as it removes the fee and a large part of what it charges is distributed into the network in the form of tokens.
There’s obviously a need for what DACSEE offers. Many passengers, especially females, shy away from ridesharing due to the risks involved. Ride-hailing drivers have been involved in sexual harassment cases and other such incidents.
As a result, passengers like to give ride-sharing a miss and opt for public transport or their own vehicle, which may end up costing more or resulting in other difficulties.
DACSEE understood the need for a workable solution and introduced a platform that’s safe. Passengers can choose a driver from their own circle of trustable drivers, as they can join them to their own network of favorite drivers.
It’s the first ride-sharing platform to offer passengers a chance to choose their own drivers. With this, if you feel uncomfortable to get into a car with a male driver, you have the option to pick a female driver and vice versa.
DACSEE has the potential to get big as the demand for such a safe ride-sharing platform is huge. It plans on moving to other countries including America and Europe. If you’re looking for a good opportunity to invest then DACSEE can be a reliable option.
This decentralized and 100% transparent token aims to make the world a healthier place by “addressing environmental and carbon emissions issues.”
This was one of the hottest Malaysian blockchain-based projects when it was launched. However, it soon got embroiled in a controversy with the UN issuing a letter denying association with the project.
This was due to the project’s website mentioning the UN and using its logo without the permission from the organization. The company is run by Tang Too Siah, who’s also the head of Climate Protector Sdn Bhd, a carbon credit company based in Malaysia.
Both these companies were also previously red-flagged by the Malaysian central bank as “companies and websites which are neither authorized nor approved under the relevant laws and regulations."
However, the matter got more controversial when rumors started doing the rounds that Kelantan state had been collecting money on the behalf of Ecobit and Climate Protector.
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Land with dry and cracked ground. Climate change, dry lake[/caption]
This caused the state head, Ahmad Yakob, to come up with an explanation where he denied all the allegations and asked the company to file an official report to make sure the matter is checked.
Despite all this, Ecobit is still on the list due to the potential it has. The company is said to have come out of the controversies and is now working towards introducing new technology to make the world greener and better.
These three blockchain-based startups are among the fastest growing fintech companies in Malaysia.