Fri, Oct 26, 2018 - Page 12 News List

ABA aims to support local blockchain apps, founders

By Crystal Hsu  /  Staff reporter

Asia Blockchain Accelerator (ABA, 亞洲區塊鏈加速器) yesterday said it aims to support local blockchain applications and founders with a focus on compliance, track record and longevity.

ABA, in collaboration with the ACE Exchange and ACE Blockchain Fund, would provide a wide range of assistance to Taiwanese and foreign blockchain entrepreneurs that includes investment resources, training and business development, it said at a news conference.

ABA aims to build an ecosystem to maximize the business potential of blockchain technology, which is poised to disrupt many aspects of how businesses and economies work, ABA chief executive officer David Pan (潘奕彰) said.

GLOBAL NETWORK

ABA has a global partnership network, which is to provide a great launch pad for blockchain-related start-ups in Taiwan to expand overseas, Pan said.

ABA is subsidized by the Ministry of Economic Affairs’ Small and Medium Enterprise Administration, with the goal of making Taiwan Asia’s blockchain hub.

Blockchain technology has taken the world by storm, with 84 percent of global executives saying that their organizations have some involvement, a PricewaterhouseCoopers survey showed.

The technology’s business value is expected to surpass US$3.1 trillion by 2030, Gartner said.

The Executive Yuan has set a goal of growing the digital industry’s output to NT$6.5 trillion (US$209.7 billion) by 2025.

ABA aims to be the most powerful blockchain accelerator in Asia and create more than NT$1 billion in business value in two years, it said.

“We will incubate at least 10 start-ups and increase partnership value,” Pan said, adding that LongHash, the largest blockchain incubator in Asia, is ABA’s strategic partner.

POSEIDON

Poseidon Network, founded by blog platform Wretch Co (無名小站) founder Light Lin (林弘全), aims to initialize a blockchain-enabled content delivery network in Taiwan, Lin said.

Working with ABA, Poseidon is seeking to prove to the world that it is an example of successful blockchain application.

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