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The Economics of Cryptocurrency and the Future of Initial Coin Offerings (ICO's)

June 19, 2018: 1:00 PM - 6:00 PM

Join us for the 'Bank of the Future' series, a collaboration between Chicago Booth alumni club of Hong Kong and Citi. 

Learn more.

Where

Citi Private Bank
30/F Champion Tower
3 Garden Road, Central
Hong Kong, Hong Kong

Cost

No Charge

Registration

Register Online
Deadline: 6/19/2018

Questions

Peter Williams, '10 (AXP-9)

Other Information

Thank you to our sponsors;

  • Citi for the venue 
  • TrustVerse for food & beverage

Event Details

The Economics of Cryptocurrency and the Future of Initial Coin Offering (ICO)

Presented by The University of Chicago Booth School of Business Alumni Club of Hong Kong in collaboration with Citi's 'Bank of the Future' speaker series.

Synopsis
Cryptocurrency was first proposed in the early 1980s. Over 30 years later, Satoshi's cryptocurrency Bitcoin gained attention as one of the first viable solutions. Today, the average daily turnover of Bitcoin is $6 billion, and the combined market capitalization of cryptocurrencies has skyrocketed to over $800 billion. However, the volatility of cryptocurrency makes it speculative and difficult to take mainstream.

Our speakers will explore the economics of cryptocurrency and the drivers of price and volatility. As cryptocurrency evolves, a new funding opportunity known as Initial Coin Offering (ICO) has emerged. Last year, over $5.4 billion were raised through ICO by over 300 companies, with many having no revenue or business model.

Why do some regulators ban or restrict ICO, while other regulators embrace? Is ICO a new funding opportunity that can be taken seriously, or is the reputation beyond repair? In this event, the speakers will provide insights into the incentives, risks, regulation and taxation of ICO's and attempt to address these controversial subjects using fundamental economic principles.

Program

  • Bitcoin Economics and Imminent Risk (45 mins) Mr. Jack Poon
  • ICO Landscape and Interest Misalignment (45 mins) Mr. Jack Poon
  • Overview of World Regulation (20 mins) Ms. Benedicte Nolens
  • To Regulate or Not to Regulate (20 mins) Ms. Benedicte Nolens
  • Comparing IPO vs ICO (20 mins) Mr. Michael Kiook
  • Case study: An ICO Journey (20 mins) Mr. Michael Kiook
  • Q&A and Panel (30 mins) Chaired by Mr. Peter Williams

Speakers

  • Jack Poon, '09 (AXP-8)
    Jack is a Fintech Enthusiast, serial entrepreneur, and a Silicon Valley veteran. He is a regular speaker on cryptocurrency and blockchain, and is currently advising Hong Kong Insurance Federation on fraud prevention using enterprise blockchain.
  • Benedicte Nolens, LLM'96 and MBA'04 (AXP-3)
    Benedicte is a board member of the Hong Kong Fintech Association, Advisory Council of Global Finance, and former Head of Risk & Strategy of the Hong Kong SFC.
  • Michael Kiook, '17 (AXP-16)
    Michael is the co-founder & CEO of TrustVerse; he had served as the Head of Global EcoSystem Partner Business for Cisco Systems, Sr. Consultant for OECD France, and Chief Advisor at Ministry of Land & Transport of South Korea.
  • MC: Peter Williams, '10 (AXP-9)
    Peter is the Citi Institutional Client Group Business Treasury Head for APAC, President of The Chicago Booth Alumni Club in Hong Kong, and Co-Chair of the Citi Generations Network of Hong Kong

THE BANK OF THE FUTURE

This new report identifies what we believe are the ABC's of digital disruption in finance — Artificial Intelligence, Big Tech, Core Banking & Cloud, and Digital Assets — and identifies ways that incumbent banks can adopt/embrace these disruptive factors and drive their businesses forward.


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