SpaceTravel, the Singapore-based startup that aims to combine blockchain, AI, eCommerce, AR, and gamification, conducted a virtual roadshow on May 22. As the company intends to revolutionize the tourism industry with blockchain, its roadshow focused on the post-COVID blockchain and cryptocurrency era.
The SpaceTravel floor was shared by Kevin Pang (advisor, SpaceTravel), Ethan Ng (CEO, Biki Exchange), Nguyen Nhat Quang (COO, VIC), Richard Choi (Co-CEO, Carry Protocol), and Shashwat Gupta (Co-founder & CEO, Altcoin Buzz). Essentially, the speakers elucidated how pandemic and Bitcoin halving have both changed the playground for blockchain and cryptocurrency.
The adoption game is on
According to Kevin Pang, the pandemic-inflicted economic crises had led to wider adoption of cryptocurrencies. This was because the government-controlled fiat currencies were rapidly losing value during the spread of the pandemic. Pang added that the times of quarantine had made us rely more on cashless payment methods. And this offered cryptocurrency a wonderful opportunity to create go mainstream, the SpaceTravel advisor felt.
He went on to point out that the crypto space had evolved in security and was supporting lower processing fees. But even with all that, it was still considered as speculative assets. And to trigger mass adoption, better payment solutions for crypto with easy and quick conversion to fiat would play a pivotal role.
Where are we heading after Bitcoin halving and pandemic?
According to Richard Choi, for any blockchain project to stay in the game post-pandemic, it would have to solve a significant problem. And on top of that, the end-product must hide all the technological complexities.
Talking about Bitcoin halving and its impact, both Shashwat and Richard expressed their sensing a lot of optimism around. Both agreed that halving would indeed cleanse the Bitcoin network. Essentially, it implied that the inefficient miners would either leave the space or get in better equipment. And as a result, we would experience efficient decentralization and a stronger network.
What will trend now?
According to Shashwat Gupta, Bitcoin halving was such a big event that it would have shadowed the progress of altcoins. As a result, altcoin projects had been holding back on their milestone announcements. Now that Bitcoin halving was over, the projects were starting to move now. As per Shashwat, projects like Enjin, Cardano, Ripple ILP, Quant, ShareRing, Crypto.com, Matic, Kyber, and more were announcing major updates. He added that DeFi (decentralized finance) and blockchain gaming were currently the two most interesting verses of blockchain.
Will cryptocurrencies ever be regulated?
As Richard Choi said, the regulation was inevitable and would both hinder as well as accelerate the adoption of cryptocurrencies. While it might slow the pace of adoption, it would give cryptocurrency a definite and legitimate status in the economic society. And this boded well for cryptocurrencies. in the mid to long term
According to Shashwat, what we were witnessing now was just a trailer of regulatory boundaries around crypto. In the next 5 years, we might see a sea of change in regulation as there could never be any single take on it. And as he indicated, Altcoin Buzz had been testing more blockchain platforms and had witnessed a significant spike in average monthly readers.
SpaceTravel originated as a satellite and navigation technology while associating with several government organizations in Singapore. It has now developed a lifestyle travel app BUBU that operates on the Zilliqa blockchain. Using the BUBU app, users can enjoy indoor navigation, book accommodations, and transport. Along with that, BUBU users can enjoy discounts too.
Also, the app gamifies user experience as the merchants can establish real connections with their consumers. And this enables them to know more about how travelers spend and their habits to offer more rewarding services.
During the post-pandemic era, when travel restrictions are still going to be around, SpaceTravel is helping travelers relive past experiences, start planning trips, and order authentic souvenirs.