Place/Date: Singapore - July 7th, 2021 at 11:39 pm UTC · 4 min read
Contact: Thasleem Nisha, Senior Account Executive, Source: DIFY Singapore
The Technology for Online and Offline Linking (TOOL) Global Ecosystem concluded its first global conference, TOOL Global Hackathon 2021 with more than 2,000 crypto-enthusiasts hauling from all across the Asia-Pacific Region. The two-day event kick-started with a press conference that introduced the newly-launched TOOL Global Ecosystem to the masses and was followed by sharing sessions where key leaders from the blockchain and crypto space discussed the growth and potential of the industry.
This year’s event focused on aggregating the blockchain communities together to raise awareness of the recent industrial developments as well as the challenges and changes in the market. The conference featured in-depth industry insights shared by representatives from leading blockchain and fintech bodies from across the globe, which includes Swiss Cordata Association, CASEA-BC, IFARA Switzerland, UKISS Technology, Meet Ventures, Huobi Singapore, Institute of Blockchain, Singapore Bitcoin Club and Government Blockchain Association (GBA).
Ben Chan, Chairman of WOLOT Foundation which backs the development of TOOL Global shared,
“Through the launch of the new ecosystem and the ongoing efforts, we look forward to nurturing the up and coming developers in the blockchain space and supporting them with the needed infrastructure and communities to bolster the development of their projects. Together with our partners and communities, TOOL Global strives to replicate its success in the Northern Asia markets on a global scale to boost the adoption of digital strategies by MSMEs”.
Dr. Patrick Scheuffel, CEO of Swiss Cordata Association joined Ben in the kickoff conference to discuss further on the role of Cordata Association in the partnership. Scheuffel said,
“The Cordata Association strives to bridge different chains to promote interoperability. With DEFI being much more inclusive than the currently established financial system, we hope to bring forth the necessary technological foundation that contributes to a more comprehensive financial structure”.
Partnering speakers also shared their industry know-how on business sustainability, cross-chain technology, digital asset management, investing and more. In the session, Tan Choon Boon, CEO of Ebuycoin addressed the need for supportive regulatory boards for ventures to succeed. He said,
“Most crypto and blockchain firms are based in and/or headquartered in Singapore as the government has a vested interest in the growing fintech industry and has established clear guidelines. This not only protects the interest of the users and builds a sense of security, but also does not hinder the growth and sustainability of the blockchain and fintech companies”.
Following the success of the event this year, TOOL Global has plans to conduct annual hackathons for enterprises and growing blockchain companies to compete in. The annual hackathons will provide a platform for existing players and newcomers to pitch and secure investment opportunities as well as be the bridge between venture capitalist and developers.
On top of that, TOOL Global is also rolling out plans to incubate third party tech developers in their ecosystem and has allocated a total sum of 10 million OLO tokens as an initial investment. The team is also working on its open source plan to be completely Ethereum Virtual Machine (EVM) compatible like Binance Smart Chain and Huobi HECO, which allows users onboard to join some of the largest blockchain communities in the world. To find out more about the TOOL Global Ecosystem and its future developments, visit the website.
To catch the replay of TOOL Hackathon 2021, check out TOOL Global Official YouTube channel.
Headquartered in Singapore since 2017, the TOOL Ecosystem aims to return the ownership of data to users through blockchain technology while protecting their data privacy. The team pledges to establish a trusted ecosystem for users and MSMEs based on the blockchain technology which will help MSMEs to upgrade and adopt new digital strategies to compete well in the new digital economy.