SINGAPORE - Media OutReach -10 September 2018 - The first-ever Bibox Global Meetup was held atSingapore Management University. This event was heavily subscribed with over300 guests attending the 200-seat seminar. Key speakers included Liu Guojie(Managing Director, Bibox Southeast Asia), Prof. Zhu Feida (Associate Professor,SMU), Jerry Li (CEO, DUO Network) and Michael Juskiewicz (CFO, eMusic).

Nizam Ismail (Head of Financial Services,RHTLaw Taylor Wessing) highlighted 2 possible regulatory areas of focus,quoting Sopnendu Mohanty, Chief Fintech Officer of MAS. Firstly, he envisions"regulators coming to a broad agreement on utility tokens and on whatdistinguishes them from payment and security vehicles." Secondly, "regulatorsshould agree on application of existing consumer protection laws to ensure thatICO issuers are still held accountable for the promises they make duringpre-sales of tokens."

Blockchain enthusiasts at the Meetup wereenthusiastic to hear from the token funds panel discussion moderated by AlyMadhavji (Managing Partner, Blockchain Founders Fund) and joined by Ian Lee(Principal, Signum Capital), Li Xi (Partner, H.Capital), Lim Hong Zhuang (CEO,XSQ Capital), Michael Ng (Co-founder, MW Partners) and KC Chng (RegionalPartner, Kenetic Capital). Below we summarise the 5 key insights shared bythese industry veterans:

1. "We maysee a massive ETH dump in the future" -- Li Xi, Partner, H.Capital

Certainly not a sanguine remark we were hopingfor in this bearish market. Li Xi cautioned, "Bitcoin price is still verystrong compared to ETH which has dropped 80% from its all-time high. Firstly,every day, there are 20,000 ETH created, as opposed to limited supply like BTC.Secondly, the ICO fever has subsided. Thirdly, more than 50% of ETH raised inICOs have not been sold into fiat yet. In the future, we may see a massivedump."

2. InvestmentGuidelines for ICO Investing: Investors, Governance and Ethics

Lim Hong Zhuang revealed that for real-worldinvesting, it is essential to examine whether investors in the company's earlyfundraising stage provide company with connections to the ecosystem. As Ian Leementioned, it is key for a blockchain company to engage with its investors interms of sharing their insights.

Prior to making an investment, Aly Madhavjiraised an important consideration factor on the governance and ethics of thecompany. If a blockchain company has less than two-year lock-up period, this isa cause for concern.

3. TokenFunds' Advice to Blockchain Companies: Transparency, Refraining from Greed,Time Lapse between Seed Rounds

KC Chngconducted his own ICO in 2016 when his team spent the most time on engagingwith their community via Reddit or messaging apps. He added, "Transparency andsincerity are key to garnering support to have a successful ICO".

Ian Lee cautioned against succumbing to greedand setting a reasonable fundraising target such as 15 million instead of 30million.

Michael Ng brought up the possibility oftime-lapse between various rounds of fundraising as "not all investors have thesame risk appetite. Some as OK with higher valuation for proven businesses".

4. Downfallof ICOs? Token Funds Anticipate More Reverse ICOs and STOs in 2018

"I think we can all agree that blockchaintechnology is here to stay but we are not sure about ICOs." On the back of hiscynicism about ICOs, Ian Lee shared that Signum Capital holds a few ReverseICOs in their portfolio. KC Chng added that "the market is waking up to therealisation that mass adoption is the key to projects. There may be a shift interms of narrative, such as reverse ICOs to migrate more traditional users toblockchain usage". Similarly, Lim Hong Zhuang foresee more reverse ICOs comingin to drive mass adoption.

KC Chng also sees real-world use-cases forSecurity Token Offerings (STOs) and this optimism was shared by Lim HongZhuang, "Better than ICOs, STOs carry great appeal." Indeed, STOs are worthlooking into as they allow any company, not just blockchain companies, totokenise its equity. On top of that, STOs provide global regulatory compliance.

5. What elsewill work in 2018? NFTs and dApps

KC Chng believes that Non-Fungible Tokens(NFTs) like CryptoKitties will be a big thing in 2018 as they are new,innovative and fun. He foresees the utility of it in the gaming space withinblockchain.

With an analogy that property investment issuccessful when the property is built on a land with decent infrastructure. IanLee argues that with the abundance of infrastructure projects at the moment,the next opportunity lies in dApps.

About Bibox

Bibox is the first A.I.-enhanced encrypteddigital asset exchange launched in November 2017. Now the quality digital assetexchange platform operates in Europe, America, and Asia with a steady top-10ranking and an average daily trading volume of US$200million. Bibox is a teamof over 100 employees with offices in New York, Vancouver, Tokyo, Seoul,Beijing and Hong Kong, with the Singapore office newly set up in July 2018.