KUCHING (October 9): Sarawak’s push towards a digital economy gives the state a uniquem strategic advantage that could position it as a blockchain powerhouse.
Borneo Blockchain Conference (BBC) 2025 scientific committee head Reuben Yap said Sarawak possesses a “trifecta of assets” that could drive it to capitalise on blockchain technology and be an early adopter.
“First, we have an abundance of clean, sustainable energy to power the infrastructure of tomorrow.
“Second, the state possesses high-speed connectivity and a young, tech-savvy, educated population.
“And critically, Sarawak has a forward-thinking state government that champions digital transformation, demonstrated by their incredible support for this very event,” he said during his opening remarks at the inaugural BBC 2025 held here today.
He said much like how the internet became the world’s infrastructure for information, blockchain’s promise was to be the infrastructure for frictionless, peer-to-peer value transfer.
“It continues to excel at this core mission. Yet, its potential has expanded far beyond that. Today, blockchain technology is securing elections, powering stablecoins, forging digital identities, and guaranteeing the provenance of everything from legal documents to AI models,” he said.
He noted that the blockchain space has matured from its early “Wild West” phase into a structured and regulated environment.
In Malaysia, he noted, digital assets are regulated by the Securities Commission under a detailed framework that provides market certainty and consumer protection.
Yap said he believes a new wave of local blockchain champions is emerging.
“We already have Malaysians playing on the world stage. Etherscan, the world’s leading Ethereum blockchain explorer, was co-founded by a Sarawakian and generates over 100 million ringgit in annual revenue.
“CoinGecko, one of the world’s largest crypto data aggregators, was also founded and is run by Malaysians. These are not just local successes; they are global powerhouses,” he said.
He also shared his own blockchain journey that started in late 2012 when few people knew about it or thought Bitcoin was a scam.
He said he organised small meetups in a cafe at Kai Joo Lane in Kuching, attended by only a few curious and often sceptical participants.
“The entire market size of the industry then was less than 200 million US dollars. Fast forward to today, that 200 million dollar industry has blossomed into a multi-trillion dollar global force, with the world’s largest banks and even entire nations paying attention to this technology.
“It fills me with immense pride to see this conversation happening right here, in our home, Sarawak,” he said.
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