AUGUSTASIA BUSINESS OUTLOOK8Singapore Blockchain Week (SGBCW) 2022 ended with a fireside chat with Hestor Peirce, SEC Commissioner. Peirce suggested that responsible regulation entailed clear rules and consistent enforcement and fostered responsible innovation. Robust international regulatory cooperation in digital assets is an important part of building and maintaining an effective regulatory framework. The goal is to address bad actors, while allowing well-intentioned innovators to focus on delivering on their product's promise and purpose.The five days event attracted 8.542 attendees from 68 countries and over 700 organizations, including 36 exhibitors and 156 speakers. The week-long series of event included a web3 hackathon co-organized amongst Blockchain Association Singapore, Morpheus Labs and Huawei Cloud; SGBCW 2022 Summit, the main focus which attracted 5440 attendees; two Masterclasses; two Innovation Lab Showcases and a career fair jointly hosted by BAS, Banking and Financial Services Unit, NTUC; e2i, and Global Financial Institute and other fringe events for BAS Corporate and Individual Members.Chia Hock Lai, Co-Chairman of BAS commented during his opening speech at SGBCW 2022 Summit that the web3 industry will recover strongly from the crypto winter, driven by big brands dabbling in web3 and big investments raised to invest in web3 projects. Having said that, the industry should focus on responsible innovation and avoid the past mistakes of excessive speculation, leverage and unsustainable business models, in order to gain trust and confidence from regulators and policy makers. On the success of the SGBCW2022, Chia said, "This is the second time we are running the Singapore Blockchain Week since 2020 although an inaugural physical summit for this year. We did these in strong support of Singapore's vision as a premier Blockchain Hub. We are heartened by the enthusiasm of the attendees, sponsors and speakers who participated actively in the various events throughout the whole week. I hope Singapore Blockchain Week will continue to be a strong platform that brings together global regulators, innovators, thought leaders and community to discuss on important issues on web3 and to propel the nascent industry to a more sustainable and responsible growth moving forward".In addition, S$120,000 was also raised during the Blockchain for Good Gala Dinner, graced by the Guest-of-Honour, Desmond Tan, Minister of State, Prime Minister's Office and NTUC Deputy-Secretary. The Blockchain for Good campaign is a joint initiative between BAS and NTUC-U Care Fund aimed at supporting where the proceeds will go towards supporting the charity's various assistance programmes. BLOCKCHAIN ASSOCIATION SINGAPORE ATTRACTS 8.542 ATTENDEES FROM 68 COUNTRIES TO SINGAPORE BLOCKCHAIN WEEK 2022NEWSROOM
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