According to a Chainanalysis report, in the first half of 2021, Asia accounted for 28% of the overall $1.16 trillion global cryptocurrency transaction volume. Additionally, data from Messari shows Asian markets accounted for 43% of global cryptocurrency activities, with $296 billion in transactions between June 2020 and June 2021.
Last year, major Asian crypto news was dominated by developments in China. Other Asian countries such as Indonesia and Singapore also made headlines for having clearer regulations on digital assets in their country.
Other than regulations, this rapid growth is also driven by DeFi innovation in Southeast Asia, which is supported by increased fundraising and investment in projects. The presence of various communities available for providing information and education about crypto also plays a role in developmental progress.
As the largest continent with the most population, Asia has huge potential and is primed to become the hub for crypto adoption in the world — as long as it has a good supporting ecosystem. The presence of international crypto events is one step toward the formation of this ecosystem. For that reason, Coinfest Asia is here.
Coinfest Asia is an industry event organized by Coinvestasi, with a focus on the future of cryptocurrencies and Web3 in Asia. Held in a festival format, Coinfest Asia aims to be a platform for crypto asset enthusiasts, industry leaders and executives to come together and discuss to build the future of crypto assets and blockchain technology in Asia. The event will be held in Bali, Indonesia on Aug. 25–26 and is supported by Coindesk, Indonesian Blockchain Association, Indonesian Chamber of Commerce and Industry, Coingecko and Blockchain Association Singapore.
The two-day event will feature expert speakers in their fields with various interesting topics about regulation, crypto industry, DeFi, GameFi, NFTs, the Metaverse and many more.
For the first Coinfest Asia, Indonesia was chosen as the host for several reasons. Indonesia is home to 270 million people, the world’s fourth-largest population, and has the seventh-largest crypto user base globally. By 2021, crypto owners in Indonesia increased by 85% to 7.4 million people. Compared to the total population, there is still room for huge growth in the country. This is also aligned with the fact that Indonesia is the host of this year’s G20 and might become the center of digital economic transformation in Asia.
“We hope that Coinfest Asia can open up spaces for regulators, project founders and creators, developers and the community to connect with each other and create innovations for the better development of the crypto industry. That way, the people of Asia, especially South-East Asia, can get more benefits from the digital world,” said Dhila Rizqia, event lead at Coinfest Asia.
Currently, Coinfest Asia is selling earlybird tickets with a strictly limited quota until July 15. Ticket sales will be closed when the ticket quota sells out.
Coinvestasi is a leading Indonesian media platform for events and information related to cryptocurrencies, digital assets and blockchain technology that has been around since 2017.