Yesterday, AustCham were delighted to collaborate with Italian Chamber (CICC) and their special guests in the Bitcoin seminar: Bitcoin, Cryptocurrencies & Mitigating the relevant investment risks.
The event kicked off with Romina Di Martino from CICC introducing its new platform for members. The attendees were a mix of members from CICC and AustCham, all intrigued by the topical seminar content. First speaker Filippo Buzzi from FIDINAM HK introduced key concepts about cryptocurrencies, and their related investment risks. According to the Filippo: Bitcoin is a decentralized cryptocurrency for personal and business transactions at high speed and low cost, such as the history of ecash, blockchain, bitcoin exchanges, applications in creating Bitcoin. He concluded with an overview how bitcoin starting as a tech-based experiment and has now evolved into a real economic power.
Davide De Rosa from Gianni, Origoni, Grippo, Cappelli & Partners HK followed, sharing how different the cryptocurrencies’ regulatory environment in China and in Hong Kong. The crypto industry is considered disrupting the stability of the financial system given its decentralised system and the increasing value of Bitcoin. Thus, regulation and policyies are constantly updated. The regulatory change in PRC effected the crptocurrencies exchanges late 2017. Comparatively, Hong Kong has a more liberal approach. Controlled collectives and investment schemes are regulated. The lack of investment regulation offers investors different levels of freedom in doing transactions, but without these protection schemes there are higher levels of risks.
In an age of increasing globalisation and world trade market, digital currency like Bitcoin comes to people’s attention as it applies to more business transactions than we thought. AustCham would like to thank CICC, and all attendees for a topical and valuable seminar to start our 2018 Seminar Series.