Growing up in China during the 1990s, Layla Dong, founder and CEO of Blockshine, witnessed the rush of economic development brought by the internet. For Ms. Dong, her experience has cemented a desire to ensure the development and application of technology for the betterment of society.
This philosophy led her to become a board member of the WEF Global Shapers Foundation in 2016, an organization dedicated to providing a platform for young people to take an active role in shaping the future. Her tenure at Global Shapers led to a realization that powerful and lasting positive social changes can be achieved only when public and private sectors are brought together.
Despite blockchain being hailed as a disruptive technology, institutions have been slow to develop and adopt blockchain technology. This is in part due to technological, architectural and product structure issues that prevent institutions from participating at any meaningful scale in the digital asset market. Ms. Dong founded Blockshine in 2017 to address these issues, and has on-boarded experienced personnel from the traditional financial industry to build products which will allow corporates and institutions to enter the market and accelerate the pace of technological development. The company specializes in the creation and application of custom designed blockchain systems which can reduce costs and increase business efficiencies and value exchange.
Blockshine is built upon Layla’s philanthropic principles, and aims to promote the development of business and affect societal change. The company has created a Corporate Social Responsibility program to ensure that the successes of the company benefit the community. The program is currently focused on breaking the cycle of poverty experienced by the children of migratory workers in China through English tuition. English is a skill which opens up many opportunities in China. Up to now, eleven events have been hosted to increase the awareness of the issues and to direct more aid for these children.
Another factor holding blockchain back from true adoption is the legal and regulatory uncertainties. Blockshine partnered with Blockchain Centre to open the Shanghai branch of the education and knowledge hub. The Centre provides a platform to connect government and industry, facilitating an open dialogue to ensure that legal frameworks developed enable blockchain industries to flourish and benefit the local economy. It also assists governments through the provision of consultation by industry experts to ensure they have the knowledge required to take positive action.
Most notably, Blockchain Centre has a strategic partnership with Austrade (Australian Trade & Investment Commission) and has entered into an MOU with Russian state-owned Vnesheconombank (VEB). It has developed an educational course of blockchain technology and coding languages. The Centre is building a strong talent pool with an aim to propel Shanghai to the forefront of blockchain development.
Layla believes that the organizations and programs she has created will bolster the blockchain market, ultimately leading to a new trust-based economy. Blockchain is set to revolutionize the payments industry through instant settlement, rapid transaction times & transparent operating practices. However, the biggest impact will be that blockchain provides the means to sidestep the creation of expensive banking & payment infrastructure and will allow individuals in the developing countries to create businesses and access the financial services they were previously denied.