A very kind and impactful foreword for Rise of the Small by a prolific man, Mr Teng Theng Dar, the ex-CEO of Singapore Business Federation and Singapore’s Non-Resident Ambassador to Oman.
“I would like to wholeheartedly congratulate Raymond Ng for writing this excellent piece of work on Blockchain and having it published with such excellent timing.
Blockchain is at its early take-off stage of evolution; it is still misunderstood by some, while others are probably confused about it from an economic perspective.
This book should therefore help you gain a better understanding of the power and benefits of Blockchain – specifically through an economic lens.
It also explains how the adoption of Blockchain is expected to generate unlimited new business and economic use cases that can further enable innovations, drive new processes and raise productivity.
Blockchain can and will drastically alter work design by automating routine and repetitive tasks that the new workforce will most likely not enjoy doing. Further, it will increase job satisfaction because the new real work requires domain knowledge and skill (mastering), creativity (new ideas) and problem solving ability (judgement); all activities that the new workforce will appreciate.
In short, Blockchain is the enabling engine to revolutionise the future of work, especially for the new workforce.
But there’s more.
The title, Rise of the Small, is definitely most fitting in describing the great social and economic impact the adoption of Blockchain can have on the financial services sector, in particular in the fast-growing ASEAN region.
With a population of about 630 million and the potential to become the world’s fourth-largest economic block, a staggering 70% of the regional population has no bank account and less than 8% own a credit card.
More than 95% of business establishments in the region are micro and small enterprises. They do not have or are unable to qualify for a bank account and therefore have no access to banking services. Blockchain affords them with capabilities to be able to serve more customers beyond their conventional geographic reach. It expands their revenue catchment to a larger market segment.
Please note: both of these “unbanked” groups are small in size on an individual basis, but form the majority in number.
In other words, these “unbanked” groups do not have access to finance to participate in growth opportunities in the ASEAN region, and most likely have yet to enjoy the fruits of economic growth.
With the expected wide adoption of Blockchain, the “unbanked” groups will be able to do “high frequency, small amount” and direct transactions digitally, thus opening the floodgates for new opportunities for these groups, stimulating new waves of economic growth in the region.
Rise of the Small explains why this is so. It also explains how it can and may be done.
However, it’s not just the financial services. Blockchain can be used in many other sectors, too; healthcare, and the government and private sectors, just to name a few.
The tsunami of change enabled by Blockchain will impact each and every one of us in the immediate future.
After reading this book, you will understand what Blockchain is, how it can and will impact the way we do our work, and why Blockchain can open up new growth opportunities and bring benefits for us all.
Happy reading and let’s be ready for the Blockchain era.”
The official book launch for Rise of the Small will be happening this Friday (20th July 2018), 3-5PM, at Katalyst’s Office.
Do RSVP here!
High Street Centre
1 North Bridge Road, #07-05