Taiwan-based blockchain startups Owlting and Star Bit Innovation are proceeding at full throttles with deployments in new tech sectors to capture the growing application business opportunities, with the latter having set up Asia’s first decentralized digital currency exchange plaftorm, according to industry sources. IDC tallies show that global spending by enterprises and other entities on purchasing blockchain solutions is estimated to reach US$2.1 billion in 2018, more than double the figure for 2017, before surging further to US$9.2 billion by 2021.

Among the 2018 spending, the FinTech sector is expected to lead with US$754 million, with distribution, professional services, manufacturing and resources processing among other major spenders on the distributed electronics ledger technology. As part of its efforts to tap global market potential for blockchain solutions, Taiwan’s OwlTing has set up offices in Japan, the US, and ASEAN countries, with plans to expand in 2018 to Sweden, Thailand and Indonesia, according to company founder and CEO Darren Wang.

Wang said his company has newly obtained strategic investment from Japan’s SBI Crypto Investment, allowing OwlTing to accelerate expansion into Europe and establish more offices for global operations. He disclosed that OwlTing’s most critical milestone for 2019 will be its IPO launch on Nasdaq, in addition to selling its OwlNest systems to as many as 30,000 hotel operators in Taiwan, Japan and other countries by the end of the year.

Launched at the end of 2017, the OwlNest is the world’s first set of hotel booking and internal systems management software based on blockchain technology, which can be utilized to help hotels reduce their operating and personnel costs, prevent overbooking and protect the privacy of consumers, according to Wang. Asia’s first decentralized coin exchange Another Taiwan blockchain startup Star Bit Innovation has recently kicked off Asia’s first online decentralized coin exchange platform, dubbed Star Bit Exchange.

The company has also completed its first-stage initial coin offering (ICO) by issuing Star Bit Token (SBT) based on Ethereum smart contracts, having won enthusiastic responses from cryptocurrency investors, according to the firm’s co-founder TY Chen. Chen said that the ICO is launched not only to raise funds, but also to fully apply blockchain technologies to create agile business models and achieve sustainable operations. Read more from digitimes.com…

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