6 questions to Alyssa Tsai from Panony

We ask blockchain and cryptocurrency builders for their thoughts on the industry…and throw them a few random zingers to keep them on their toes!

This week, our 6 questions are for Alyssa Tsai, founder and CEO of Panony, an incubator, investor and advisor for blockchain and Web3 companies.

My name is Alyssa Tsai, and I'm the founder and CEO of Panony. There are three pillars of businesses under the umbrella of our group. PANews is one of the premier crypto news outlets in Greater China and South Korea. He has published over 20,000 articles, averaging over 5 million page views per month. At Panony, we invest in blockchain projects around the world and consult with Fortune 500 companies for industry integration and expansion, covering the full spectrum of the blockchain industry, solution providers and exchanges to public chains, protocols and DApps. I am also a limited partner of NGC Ventures, Animoca Metaverse Fund and Delta Fund.

Before falling down the crypto rabbit hole, my prior work experience included Condé Nast, Isentia, Ogilvy, and a high-tech law firm. I also actively speak and moderate global blockchain conferences.

1 — What is the main obstacle to the mass adoption of blockchain technology?

The industry is still in its infancy. We need to be aware of the many challenges, even though it's already a buzzword in the tech world. The scalability issue is directly related to blockchain adoption and implementation. This question is whether the system can operate smoothly as demand increases, which inevitably determines mass integration.

It is also important to consider that the complexity of blockchain technology limits the ability of mass markets to appreciate the benefits. The barrier to entry is high, so people have to make an effort to understand, not to mention having to keep up with the rapid changes and disruptions. Now they might as well use a solution tailored to their needs, like regular financial services.

That's why I feel like I'm doing meaningful work every day. It's early for blockchain and never too early for us. There is so much to do and so many people we can support through education. The future is now.

2 — Which countries are doing the most to support blockchain, and which will be left behind?

As I am based in Greater China, I can share what is happening here from my perspective.

Chinese President Xi Jinping once said that the country should “seize the opportunities” offered by blockchain technology. Following this principle, China has developed a platform, known as the Blockchain-based Service Network, aimed at facilitating the implementation of blockchain technology for businesses. Many governments are experimenting with a CBDC – a central bank digital currency, which relies on blockchain – and China is piloting its digital yuan.

In recent years, the country has issued statements supporting the development of blockchain technology in several sectors, with the ambition to consolidate the technology into its financial and growth strategies. We also appreciate his intention to put in place industry standards or pricing incentives to support blockchain-based businesses.

Hong Kong has a robust system that has spawned Animoca Brands, Crypto.com, BitMEX, and many other outstanding companies in the industry. And globally, Switzerland has SEBA Bank, the first regulated crypto bank in the country. In 2016, the local government of Zug became the first municipality in the world to accept taxes in Bitcoin; and in 2020 Swiss authorities allowed Zug-based citizens and businesses to pay their taxes in Bitcoin or Ether.

Other countries such as the United States, Singapore, Japan, South Korea, and South Africa also play an important role in the blockchain ecosystem.

3 — What would you like to see tokenized? When, if ever, do you think this will happen?

The history of art in museums, such as the Dunhuang murals. I visited years ago and learned that many experts and scientists are working tirelessly to discover a solution to slow the oxidation of wall paints caused by exposure to light and air. The tokenization of these could help generate more money for research and democratize investment in art by making works of art accessible to the general public. It can happen at any time.

Also, charity work and research support would be great to see symbolized, especially in the shadow of COVID-19.

4 - What makes sense to you, and what doesn't?

Gender equality. As a young female entrepreneur from the East and connected to the West, I advocate for more investment and education around women. I've met so many powerful women...