[blochchain in SEA] How to Identify Potential Blockchain Projects
233days ago


Time:12/27  18:00

Wechat group: BlockChain-in-SEA

Guest: Sanjay Popli, Business Development Manager at ICORA, Thailand, Co-Founder of ASK Ventures

Host: Andy Zheng, CEO, Beecast



Andy Zheng: Good evening, everyone! I am Beecast CEO Andy Zheng.

Welcome to the leading blockchain community media [Beecast] and join us with 5000+ communities & 1000000+ Beecasters in [Blockchain in SEA] to discuss blockchain technology and industry development.

This the Phase 8, Topic: How to Identify Potential Blockchain Projects

Guest: Sanjay Popli

Sanjay Popli, the Head of Business Development Lead at ICORA, an ICO Advisory firm based in Bangkok, Thailand. Since he is highly involved in the Blockchain Communtiy in Thailand, he is the part of the Committee of Thailand Blockchain Association (TBA). Beyond that he is the Co-Founder of ASK Ventures.

Advocating for Blockchain and cryptocurrency, he has spoken at countless event from community meetup, Blockchain Thailand, ASEAN Digital Summit and many more. He participated in various ICO's and is always on the lookout for potential new projects.

He graduated from Monash University, Melbourne VIC with a Bachelors of Business Systems and further enhanced his post grad degree at Thammasat University with a Masters of Business Administration (Entrepreneurship).


Andy Zheng: Mr. Sanjay, you can briefly introduce yourself and your experience, why did you go into the blockchain industry? What have you learned from this process?

Mr. Sanjay: Hello everyone, my name is Sanjay Popli, Business Development Lead of ICORA and the Committee member of Thailand Blockchain Association. Before I professionally joined the Blockchain Industry, I was working as an Associate Director of a leading textile wholesaler firm in Thailand. On a part time basis, I was a guest lecturer at various University teaching within the field of Entrepreneurship and Innovation. Briefly I was a facilitator at a Corporate training firm and involved in a small start up focusing on organic farming product. My education background is in Information Systems for my Bachelor degree ( Monash University ) and as MBA (Thammasat University) focus on Innovation and Entrepreneurship.

The first time I heard about Bitcoin was back in 2013 reading the article about silk road and the use of bitcoin for purchasing illegal item.  What spark my interest again was back in ending of 2016 / beginning of 2017 (seeing the bitcoin price rapidly increase). I started reading more about blockchain and take high interest into the technology behind it. I see an immense potential in Blockchain technology and it will change the way we live much like the internet. I want to be in the forefront of this revolution that’s why I want to be part of this industry

The main thing I learned in the process is that there is a constant change in the industry and you must be ever-ready to pivot and adapt yourself all the time.  In this industry you never stop learning and you really have to keep up with the technology, regulation and market as a whole.

Andy Zheng: You have a lot of experience. It takes opportunity and courage to cross between different fields.

Mr. Sanjay: It's been a real challenge but an exciting ride as well.


Andy Zheng: You are the head of Business Development Lead at ICORA, an ICO Advisory firm based in Bangkok. You can tell us about the company's specific business. What changes have taken place in the company since its inception? ICO policies vary from country to country, and the attitude of governments is changing all the time. How does ICORA respond?

Mr. Sanjay: At ICORA we have two main focuses consulting and education. For the consulting services includes end-to-end consultancy services for companies launching a token sales campaign, due diligence and feasibility analysis of ICO issuers, tokenomics & tokenization, co-author / edit white papers, and pitch deck, facilitation of ICO announcement and roadshows. We are also in the process of applying for the ICO Portal in Thailand as well.  

For the education part, we host the most exclusive digital asset course in Thailand called Cryptoasset Revolution in order to raise understanding of Crytocurrrency, ICO & Blockchains to the general public, build network & community of Crypto Enthusiasts and aim to diversify traditional investor portfolio to invest in Cryptocurrency & ICO. We attracted 74 people for our first batch from this course some the profile include C-level Executive of listed companies, governmental official ( such as SEC ) and influential leader from various industry.  In additional to this course, we provide Blockchain workshop for corporate client to  in order to provide fundamental understanding of blockchain, token economy, and how to apply this into current business

From our initial focus of ICO advisory we are moving towards STO and Blockchain in Entreprise, how various companies can adopt blockchain technology within their organization.

In Thailand we have a clear law on digital asset such as Exchange, Broker, Dealer license and Portal approval to operate.  

ICORA work closely with SEC and attended various public hearing in keeping up with the regulation. We have to adapt certain practices according to the regulation and pivot our business accordingly.

Since all ICO incorporated in Thailand has to go through the ICO Portal (no Portal has been approved yet). For the past few months there hasn't been any ICO coming out from Thailand.


Andy Zheng: What do you think of STO? Do you prefer the development of ICO or STO? Why?

Mr. Sanjay: Security tokens are more of less digitized securities, it might be the bridge that pull in more traditional investor since it is something that they are more accustom to.

I think that STO hold a better potential for fundraising over an ICO, as the tokens investors receive represent stakes in the company and its assets. Apart from that I feel it is a  superior asset class, with an enhanced liquidity potential for securities product and provide an opportunity for fractional ownership for investor as well.

The upside ( price wise} with STO probably will be lesser than ICO though, unlikely we will see 100x return.

The main challenge is that the global regulation is quite different as each country has it own defined securities law. It will be challenging to see how this can be standardized on a global level.

Having said all that, I would say some project would still be suited to ICO rather than STO.

ICO is more convenient and STO is regularization.


Andy Zheng: As we know, you participated in various ICO's and are always on the lookout for potential new projects, so on your view, how to identify potential good blockchain projects? Do you have the criterion?

Mr. Sanjay: Well basically I look at ICO similar to when VC looking at early stage start up to invest in.

Some of the criteria when I scout potential project are the following

-  Look at the team and their capabilities ( what experienced they had before and the expertise they have )

-  Business model ( must be feasible, practical and what the market is looking for )

-  Tokenomics ( Clear purpose, roles and usage for the token including the token supply and distribution )

This is just the initial criteria, once they passed screening I usually dig down and ask the team few more questions and learn further about their roadmap and development plan.

There is few scam out there so got to be very careful and try to verify the claim that the project is making.


Andy Zheng: The development of blockchain technology has been an area of concern. Compared with other countries, what extent do you think the development of blockchain technology in Thailand has reached? What are the main problems? Do you have any specific suggestions?

Mr. Sanjay: The development of blockchain technology in Thailand is still in its infancy stage, but surely we growing in the right direction. We are still lacking some real quality developers and analysts. I think with more educational course and proper guidance we can definitely improve on this.

In fact, as far as I know, Thailand is already ahead of other countries in southeast Asia in block chain. The development of blockchain is global, and I believe Thailand will play a role


Andy Zheng: Are you personally more concerned with blockchain technology development or blockchain project financing, why?

Mr. Sanjay: I think technology and financing goes hand in hand, without the right amount of finance you cannot develop a capable product / technology

But the question goes how much is enough, I mean do we really need ICO to do a 20mil USD fundraising when with 1 to 2mil they can build an MVP

Personally, working in the side of ICO Advisory most of our client concerns are the financing of the project rather than building the technology itself.


Andy Zheng: As the part of the Committee of Thailand Blockchain Association (TBA), and the speaker in many industry summits, please share what you know about the blockchain industry in Thailand and even the SEA, such as the quality and quantity of blockchain projects, general situation of investment institutions, ecological layout of the whole industry, etc. What do you think will be the future development trend of the blockchain industry in Thailand?

Mr. Sanjay: The blockchain community is Thailand is very active and tightly knit, most of us share information across frequently even though some of us might even be competitor.

Andy Zheng: Sometimes, competitors are the best partners

Sanjay Popli:Agree.

We see various meet up and event occur frequently on a weekly basis.

One of biggest blockchain event this year  is Blockchain Thailand which we managed to attract over 1000 people.

We have not seen a top tier project coming out from Thailand yet, that will definitely change next year.

As for investment and cryptocurrency trading we will be seeing few securities firm and family fund entering into this space.

The blockchain industry is seeing strong growth as we can see many foreign companies setting up offices in Thailand and create more blockchain related job opportunities for the local people.


Andy Zheng: As a senior preacher in the blockchain field, you may have come into contact with a lot of people in the industry. Are there anyone you admire, and why? Beecast currently covers 250 cities in 15 countries, 5,000 community nodes, 1 million users , and hopes to invite more big names to [Blockchain in SEA] to share the blockchain knowledge, promoting the development of the industry. In the blockchain industry of SEA, if Mr. Sanjay introduces one or two guests to be interviewed, who would you recommend to Beecast to share?

Mr. Sanjay: That's a tough question. I have met some of the smartest and knowledgeable people within this industry, so it might be a bit difficult to narrow down to 2 people.

Andy Zheng: More is less. You can recommend people you know well.

Mr. Sanjay: I would recommend Akaradet Diawpanich ( A ), founder of Coinman, Co-founder of Cryptomind and CSO of Bitcoin Addict.  

He is one of the top Thai crypto influencer with an extensive experience in engineering, finance and entrepreneurship, he has vast knowledge in assessing the market and different project apart from that he is also a good friend of mine.

Another person that I enjoyed some blockchain talk with is Dr.Bhume Bhumiratana, he has great knowledge in blockchain technology itself and one of the key influential leader within the Thailand Blockchain industry.

Andy Zheng: Great. I really like people who know technology. Looking forward to interviewing them.


Q & A

Q1: What are the future development plans of ICORA?

Mr. Sanjay: We will focus more on Blockchain Education for Entreprise. Doing more into Blockchain consulting.


Q2: What role do you think  ICORA plays throughout the industry?

Mr. Sanjay: I think we are the key leader in the industry. We help educate the people, host various events and conferences with different partners. We want to see the industry grows in the right direction. Build up a quality standard within the community.


[blochchain in SEA] 如何甄别有潜力的区块链项目


对话时间:2018 年 12 27日  18:00 



Sanjay Popli


Ask Ventures联合创始人


东南亚Beecast CEO


郑西平:各位Beecaster,大家晚上好!我是东南亚Beecast CEO 郑西平。

欢迎大家来到领先的区块链社群媒体【Beecast】,与5000+社群1000000+Beecasters一起参与【Blockchain in SEA】节目,探讨区块链技术与行业发展。本期是Beecast【Blockchain in SEA】第8期,


嘉宾:Sanjay Popli。

Sanjay Popli,目前任泰国曼谷ICO咨询公司ICORA业务发展主管。自从高度参与泰国区块链社区建设以来,他就是泰国区块链委员会的一员。此外,他还是Ask Ventures的联合创始人。作为区块链及加密货币的倡导者,他曾在社区会议、泰国BlockChain、东盟数字峰会等活动发表讲话。同时,他参与了各类ICO项目,并且一直在寻找有潜力的新项目。他毕业于墨尔本莫纳什大学,获得信息系统学士学位,在泰国国立法政大学获得工商管理(企业家能力)硕士学位。



Sanjay Popli: 大家好,我的名字是Sanjay Popli,是ICORA的业务发展负责人,也是泰国区块链协会的委员会成员。在我正式加入区块链行业之前,我在泰国一家领先纺织品批发商公司担任副董事。我还是一位兼职客座讲师,在不同的大学教学创新创业领域。简单地说,我是一家企业培训公司的促进者,参与了一项专注于有机农业产品的小型创业。我的教育背景是信息系统学士学位(澳大利亚莫纳什大学)和 专注于创新创业的MBA(泰国国立法政大学)。







Sanjay Popli:在ICORA,我们有两个主要的重点,咨询和教育。咨询服务包括为发起通证销售活动的公司提供端到端的咨询服务,ICO发行人的尽职调查与可行性分析,通证经济与通证化,共同撰写/编辑白皮书,以及宣传平台,为ICO公告和路演提供便利。我们也在申请在泰国的ICO入口。






Sanjay Popli:证券化通证更多的是数字化程度较低的证券,它可能是吸引更多传统投资者的桥梁,因为它是他们更习惯的东西。








Sanjay Popli:基本上,我看ICO,类似于VC在早期阶段开始投资的时候








Sanjay Popli:泰国区块链技术的发展还处于起步阶段,但我们肯定会朝着正确的方向发展







Sanjay Popli:我认为技术和融资是并驾齐驱的,如果没有适当的资金,你就无法开发出一个有能力的产品/技术。





Sanjay Popli:区块链社区是泰国非常活跃和紧密结合的,我们中的大多数人经常共享信息,即使我们中的一些人甚至可能是竞争对手。


Sanjay Popli:同意。

在每周我们看到各种各样的会议和事件经常发生。今年最大的区块链活动之一是Blockchain Thailand,我们成功吸引了1000多人。





郑西平:Sanjay作为资深的区块链领域布道者,应该接触过很多行业内人士,其中是否有您欣赏和佩服的从业者,为什么?Beecast目前覆盖15个国家250个城市、5000个社群节点、用户100万+,希望通过[Blockchain in SEA]邀请更多的大咖来社群分享区块链,以推动整个行业进一步的发展,如果Sanjay引荐一到两位嘉宾,您会引荐谁来做客Beecast进行分享?

Sanjay Popli:这是个棘手的问题。我在这个行业里遇到过一些最聪明、最有知识的人,所以要缩小到两个人可能有点困难。


Sanjay Popli:我推荐的是Akaradet Diawpanich(A),Coinman的创始人,Cryptomind的联合创始人和Bitcoin Addict的CSO。他是泰国最有影响力的加密专家之一,在工程、金融和创业方面有丰富的经验,他在评估市场和不同项目方面拥有丰富的知识,他也是我的好朋友。

另一个我喜欢与之交谈的人是Bhume Bhumiratana博士,他对区块链技术本身有着丰富的知识,也是泰国区块链行业中最具影响力的领军人之一。





Sanjay Popli:我们将把重点更多地放在企业的区块链教育上。并在区块链咨询方面做更多事。


Sanjay Popli:我认为我们是这个行业的关键引领者。我们帮助教育人们,与不同的合作伙伴举办各种活动和会议。我们希望看到这个行业朝着正确的方向发展。同时我们也能够在社区内建立质量标准。

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