Wemerge Unravels Solution to Failed Blockchain Projects

The blockchain project Wemerge Ventures Ltd, consisting of seasoned entrepreneurs, angel investors and blockchain experts launched Asia’s first community blockchain incubator. During the event, its first incubator centre known as MergeSpace was announced to begin operations in Shenzhen, China. Despite a pilot version of MergeSpace is currently available in Kuala Lumpur, future planned centres include the US, India and Singapore.

Hu Dong, Advisor to “Zero Bay” in Shanghai Jiaotong University, introducing the strategic significance of blockchain incubators in the entrepreneurial age.

In conjunction with this initiative, Wemerge will introduce its own global Wemerge Community which will support the incubation and acceleration of new high potential blockchain projects.

Wemerge was set up to solve two critical issues in the blockchain world. The first is the high failure rate of blockchain projects and the second is the validation of credibility of blockchain projects. Based on a study conducted in 2017, 92% of the 26,000 blockchain projects introduced in 2016 failed. A key element that contributed to the failure of those projects are the lack of real fundamentals or ‘tokenomics’ as there’s a mismatch between the planned utility of the issued tokens and its application in its projects within real-world usage parameters.

JR Ng, Managing Partner of Wemerge, speaking about how Wemerge Community supports the incubation and acceleration of high potential blockchain projects.

With an estimate of more than 100,000 new projects to be introduced in 2018 alone, this can be a daunting task for the individual blockchain participant. Wemerge is creating an ecosystem that combines the best of blockchain, business, finance and brand advocates into a single Decentralised Autonomous Organisation (DAO): The Wemerge Community Blockchain Incubator.

It expands on this process by assisting projects to properly execute their blockchain implementations and token issues through a community of beta testers all over the globe that will help to make up its initial user base as well as validation for real-world application.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

MaGIC’s University Startup Challenge 2020 cultivates aspiring leaders

Malaysian Global Innovation & Creativity Centre (MaGIC)’s University Startup Challenge 2020 (USC) was held virtually from June to October this year, with...

GDB secures single-largest RM1.25 billion contract to complete 8 Conlay

Construction services firm GDB Holdings Berhad has secured its single-largest contract of approximately RM1.25 billion to complete the remaining main building works...

Microsoft Malaysia appoints 2 new additions to leadership team

Microsoft Malaysia has appointed two new additions to its leadership team to further strengthen and accelerate the digital growth of customers in...

Funding Societies Malaysia to collaborate with TM Info-Media to offer business financing solutions to MSMEs

Funding Societies Malaysia, a peer-to-peer (P2P) financing platform in the country and Southeast Asia recently collaborated with TM Info-Media Sdn Bhd (TMIM),...

Monash University approves funding for 7 digital health strategic projects

Monash University Malaysia has approved funding for seven digital health strategic projects totaling more than RM2 million. The Monash University Malaysia ‘Network...

Must read

Revitalise the property market for the benefit of all Malaysians

By Wong Siew Lai, General Manager – Malaysia and General Manager - Marketing & Communications, iProperty.com Malaysia Sdn Bhd

Underemployment anxiety needs to be given serious attention

By Sofea Azahar, It is very unfortunate to witness that the unprecedented twin crisis – health and economic –...

How 5G can help us build the urban future

Sunway Group is leading the way to create smart and sustainable cities with great potential As centres of...

IDEAS Opines Business And Economy Will Be Hampered If Parliament Were To Be Suspended

The Institute for Democracy and Economic Affairs (IDEAS) is troubled by several reports that a state of emergency is expected to be...