Advancing Cryptocurrency Adoption in Malaysia

in #steempress5 years ago (edited)

Cryptocurrencies and its underlying technology - blockchain is the future.

In his book 'What The Future (WTF) and Why It's Up to Us', Tim O' Reilly says:

It is possible to see the future.
We just have to think in vectors.

'Thinking in vectors' involves paying attention to what we currently have; and ask ourselves, "What happens if this goes on?"

What happens now that we have fire?
What happens now that we have wheel-carts and chariots?
What happens now that we have electricity?
What happens now that we have computers?
What happens now that we have the Internet?
What happens now that we have driverless cars?
What happens now that we have Bitcoin?

Cryptocurrencies are here to stay

Nobody can say with absolute certainty whether Bitcoin will live forever.
But what is certain is that its underlying technology -- blockchain will live on.

And we have Bitcoin to thank for that.
We highly recommend reading the original Bitcoin whitepaper released by Satoshi Nakamoto in 2009. It is only 8 pages and an entertaining read.

However, although cryptocurrencies and blockchain are receiving an unprecedented amount of attention today, I am worried about the outlook for Malaysia.

Dissolving Malaysia's 'get-rich-quick' reputation

A few days ago, a very talented friend of mine was about to secure some international sponsorships to run several training workshops to grow more blockchain developers in Malaysia. Sadly, I was informed that the sponsorship was canceled in favor of other countries such as Philippines, Vietnam, Indonesia and Singapore.

Apparently, our country is perceived quite negatively in comparison to others - crowd quality is unsophisticated and technology talk is tepid at best.

An article this week titled, 'Blockchain ignorance endangers Malaysia', sends a shiver down my spine.

Is there truth to this?

Based on my observation, yes. The crypto-conversations that take place in Malaysia tend to be skewed towards making money quick. They are not the same as those neighboring countries which have made stronger strides to be leaders in this space. We are now 6 months in 2018 and both Vietnam & Philippines have held global summits, conferences, and hackathons.

Meanwhile, in Malaysia, it seems 'crypto' is almost synonymous to scam, there is much fear, uncertainty and doubt (FUD) and this creates a lot of confusion among the public as well as with the regulators.

As a result, we are severely behind.

BitcoinMalaysia Roadshows

BitcoinMalaysia is confident that Malaysia has what it takes to reverse our image into a positive one. This would take some time --- and a lot of work. But definitely possible!

Malaysia is rich in talent, multi-lingual, creative and energetic! Two of the world's largest crypto-companies, Etherscan and CoinGecko were founded by 'Orang Malaysia'.

We just need to channel the energy to where it matters most --- that is to create a huge adoption base. We need more Malaysians to use, experience and enjoy cryptocurrencies.

Hence the roadshows we have been doing since May.

BitcoinMalaysia in Kedah, 6th May 2018

BitcoinMalaysia 16th May 2018

BitcoinMalaysia 6th June 2018

Our roadshows aim to:

  • Provide a friendly place for people new to crypto to understand why it matters
  • Help you relate how crypto can bring value to your daily lives
  • Spur actual adoption and use of crypto and other blockchain innovations
  • Maximise learning absorption by simplifying & making easy-to-understand content
  • If you are in business, inspire you to develop innovations that will benefit your society

Right now, we are trying to keep our roadshows 'Free-to-Attend'. We are able to do this largely thanks to our sponsors such as @miningpuppets - The World's first crypto-mining retail hub and Southeast Asia's first certified Bitmain Antminer repair center and providing community tech support since 2013.

Post-event feedback has been promisingly positive so far and we are seeing growing numbers attending our events each time. Clearly, there is a hungry appetite to get involved. However, it is still not enough. Currently, we are drawing about 50 people per event. Doing it twice a month, we would reach out to 600 people by the end of the year.

We need to ramp up our efforts.
We want to double our reach by year end and grow x10 in 2019.

To do this, we would need:

  • More venue sponsors across KL to offer us space so that we can provide more options for people to attend our events.
  • More developers to take our stage and share their blockchain-based innovations with us so that more people may experience the benefits and grow the number of positive stories in the space.
  • More volunteers to step forward and help conduct cryptocurrency & blockchain education in their own communities and social circles.

Time will pass very quickly.

I hope that by the year 2020, Malaysia will gain a much more positive reputation worldwide when it comes to the adoption of blockchain and cryptocurrencies.

This is what we hope to achieve. How about you?


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This is more of an attitude that I see slowly changing. Quick bucks, quick money has become more and more common place over the years.

After the last elections though, you can see people changing attitudes and willing to work, to put nose to the grinding stone. To question authority. To demand that their leaders be it in government or private enterprises produce. Not just siphon money away from organizations.

In short, this appears to be very optimistic. Stay positive and good luck with efforts.

yea, agree. I have been in the industry for awhile and perspective that I have gain are: money making machines, trading strategies, ICOs for big gain and so forth.

Education/events organised around focusing on this area too how to recognise good exchange, wallets and stuff. More on the trading side rather than the application of blockchain. Till now people who I have met are more on self-learning/experience gain

I hope to be part of the community to create more awareness and knowledge on blockchain to the public.

before GE14, we had a leader who emphasis on money making and profit; while after GE14, we have a leader who values integrity and hard work. This is a paradigm shift for the country of Malaysia, and if things can keep going day by day, month by month and year by year; this country can finally have a total mindset change of citizens (with still a few bad apples in it).

So yes, Malaysia has been blacklisted in many things, yet it is beyond hope that new things will come.

Stay positive, true indeed.

Great job Jason and @bitcoinmalaysia.
Agreed. Malaysian's mentality on the crypto and bitcoin is still way behind...

Love the initiatives to educate the public.

I feel it is still basically very shallow minded, but then again that is my PoV

I have faith @littlenewthings. The present situation does not need to be tomorrow's reality.

The work you guys do in #steemit #teammalaysia played a huge part in inspiring this movement.

thank you @sireh - hope to see you around more often.

Great!... now I know who to invite for an academic talk on Bitcoin, Blockchain and Steemit in my Uni... :)

The last time we appeared at MMU was January this year. How time flies! Let's do another one at MMU after Raya!

Good job. This can improve the understanding of Malaysian towards crypto and blockchain technology. I hope this kind of exhibition can someday be held in the university area. It can definitely educate the students and encourage them to participate as well as improve the technology.

Which university area would you like us to be at first?

Maybe can perform a survey and choose the university with the most of the students who interested in this technology to be the first place.

Toxic community and lazy to read malaysian . I found few people (malaysian) who promote cryptocurrency which does not exist, they were trying to scam obviously. When i ask few of my college, what they saying is Bitcoin itself is a scam.
Either you be a Pessimist with big list of reasons that you don’t even start most times or Opportunist who invade the world with wisdom :D

Due D is always important and it's a free market.

You know? When I first noticed about bitcoin at the end of 2014, I used to read its published articles just to find out more; now I actually am rather surprised that I know you personally and didn't know you are part of bitcoin Malaysia. haha.

Keep up the good work spreading the good word about blockchain technology. There's more to it than just bitcoin; and there are just so many people yet to grasp its potential.

Cheers to Buatan Malaysia !


hi @bitcoinmalaysia

I just found your profile. Ive noticed that community in MAlaysia is very strong. Myself Im based in Penang and I would be happy to get to know you guys closer.

Im also sorry to hear that your friend lose his sponsorship. What a loss for entire malaysia :/

obviously upvoted and followed

Thanks for following. You have an interesting blog too. Are you doing crypto full time in Penang?

hi @bitcoinmalaysia

Im glad to see how responsive you are. Im involved in crypto as an additional inteterest. I know one day I will find some opportunities that will allow me to make enough money to have decent living.

What about you?


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Wow! I didn't know Etherscan is buatan Malaysia too! 💪💪💪

@bitcoinmalaysia I would like to go but husband is out station so I have to be at home.

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