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It was one of those origin stories with scribbled napkins at a sleepy Spanish restaurant, when Edmund Yong and his founding partner bounced off ideas on “Depression Babies,” as bitcoin was born out of the last global financial crisis. While the world witnessed the boost in cryptocurrencies, the underlying infrastructure of blockchain was neglected. This limelight on crypto made way for numerous scams and get-rich-quick schemes that took many good businesses for a toss. The negligence toward the infrastructure was also the main reason for bitcoin’s biggest nightmare that led to a loss of 460 million pounds due to a hack at the then largest bitcoin exchange, Mt.Gox. In not more than two months the company was bankrupt. As Yong and his friends drank to bitcoin’s fake obituary after the Mt.Gox crash, they thought of helping businesses leverage on the blockchain or crypto market and laid the foundation of Celebrus Advisory. Originally focusing on the public sector, Celebrus became the go-to firm for “compliance-first consultancy” for crypto markets in the private sector as well. As this space was largely unregulated back then, many would prefer to build in the shadows and remain in the shadows. Celebrus advocated clients to step into the light instead and use compliance as a competitive advantage. “While we believe that blockchain will help unlock the future digital economy, we want to help clients get there the right way without taking shortcuts or skipping due diligence; this is where we make a stand and by doing so we unwittingly stand out from others.”
Despite the fact that blockchain has become a popular technology for solving data challenges, it should be noted that it is just one piece of the tech puzzle. It is infrastructural, and the benefits are not visibly felt by itself. Celebrus helps enhance the value of blockchain by integrating it with other techs like IoT, GPS, AI, and AR/VR. At the start of a project Celebrus conducts a diagnostics of the client’s current workflows, tech skill inventory, and legacy systems. It also dimensions the different types of risks involved and how these can be mitigated by using the proper instrument (token), vehicle (legal entity), or jurisdiction (place of issuance). Once ready, Celebrus creates the blockchain architecture, token design, and the incentive structures to turn it into a viable network and community. “It does take some ‘crypto engineering’ to structure the right token offering, though, for the most part, the regulatory engagement and compliance takes center stage,” says Yong.
Further, the company excels at providing foreign incorporation, listing readiness, corporate treasury and community building services.
While we believe that blockchain will help unlock the future digital economy, we want to help clients get there the right way without taking shortcuts or skipping due diligence
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