The objective of the Pacific Blockchain Research Institute is to conduct research and development, as well as advocate for the mass adoption of blockchain technology in South East Asia. In this regard, the institutions will team up with other researchers, leading industry players and government organization with an aim of fast-tracking the deployment and adoption of blockchain technology.
Among the areas that the PBRI will study include the Project PAI and is corresponding cryptocurrency, the PAI Coin. The mission of this startup is to alleviate global poverty and improve the efficacy and transparency of tax systems. Besides, the institute intends to build its own crypto exchange on which digital assets such as the PAI Coin will be listed. In addition to ObEN and the Lippo Group, other pioneers of the PBRI include the University of Indonesia and Universitas Pelita Harpan. The chairperson of the PBRI’s advisory board will be Mochtar Raddy, the current chair of the Lippo Group.
According to Mochtar, the Lippo Group supports the development of blockchain technology dues to its potential applicability in several areas where the company operates. He further added that the Lippo Group would support the PBRI in all aspects, including the research and the provision of technological infrastructure. Ultimately, the Lippo Group intends to transform PBRI into a global hub as well as a think tank for blockchain technology.
On the other hand, Adam Zheng, the COO of ObEN Inc, expressed his excitement over the partnership with Lippo that resulted in the establishment of the PBRI. Adam noted that, “The blockchain business is booming in South East Asia region, and added that they were looking forward to integrating the technology in several commercial, social and government applications.”
Adam concluded by saying that the PBRI will bring together several players who will afterwards explore the best use cases for blockchain technology for the benefit of all.
As the institution’s pioneers, ObEN and the Lippo Group will provide the testing ground for the research and recommendations made by the PBRI. ObEN is heavily reliant on blockchain technology, as the data for the company’s PAI ecosystem is secured and stored on a distributed ledger. PAI is an AI ecosystem that allows users to create a personalized digital profile using selfie photographs and a recording of their voice. Once this is done, the advanced AI infrastructure generates a 3D avatar that resembles the looks and the voice of each particular user. The avatars can also be trained to emulate the user’s behavior.
The Lippo Group entails several entities that cut across several sectors, including retail, property development, media, financial services, healthcare, mobile payments, and insurance. Most of these enterprises operate in Indonesia, meaning that the PBRI will evaluate the Indonesian market in its studies. It is expected that the PBRI will recommend and support the Lippo Group in the tokenization of their businesses across the South East Asia region. This will include the onboarding of the PAI Coin as an acceptable means of payment, resulting in the establishment of a decentralized economy.