The convergence of distruptive technologies such as blockchain, IoT, artificial intelligence and big data is transforming almost every industry. The migration to a digital and virtual world is inevitable, and it has been accelerated by the impact of Covid-19 pandemic. In particular, the Financial Services sector sees the most significant disruption by the blockchain technology.

PayPal will launch a new service in early 2021 to enable their customers to use digital currency for transactions, thus making digital currency as a funding source across its network of 26 million merchants worldwide. PayPal was granted a first-of-its-kind conditional Bitlicense by the New York State Department of Financial Services. Meanwhile, VISA has announced its partnership with USDC, a digital currency of Circle Internet Financial.

OCB Life Group recognizes the huge potential presented by financial services sector embracing the blockchain technology. The company’s blockchain engineers have developed a new-generation payment card that allows the user to transfer funds from the digital Wallet by simply scanning on the blockchain-secured QR code that is printed on the card. The user is then able to make payment or cash withdrawal anywhere in the world where a Debit card or ATM card is accepted.

OCB Life Group has already tested the prototype of the payment card. The company is now in the process of identifying potential partners to jointly issue the cards for worldwide use. The OCB Life payment card is expected to be launched in quarter 3 of 2021, starting out in Singapore and other markets in Southeast Asia first, and eventually rolling it out to other parts of the world.


Blockchain is the one of the greatest innovations in computer science, based on the idea of a distributed database where trust is established through mass collaboration and unhackable codes, instead of through a powerful institution that does the authentication, approval and the settlement.


Blockchain was invented in 2008 by a person, or a group of people, using the name Satoshi Nakamoto — as a public transaction ledger of the cryptocurrency Bitcoin. In other words, Blockchain is the technology behind Bitcoin, the first cryptocurrency. That was the first-generation blockchain, referred to as Blockchain 1.0.

But Bitcoin, or Blockchain 1.0, has its limitations. It is relatively slow speed, and consumes huge amount of electricity, and also has limited applications beyond a cryptocurrency. To overcome the limitations of Blockchain 1.0, programmers and top brains eventually developed Blockchain 2.0, which I will elaborate more in the next slide.


In 2013, Vitalik Buterin proposed the Ethereum, which was funded by a crowdsale that took place between July and August 2014. The Ethereum went live on 30 July 2015.

Ethereum is an open-source, blockchain-based, decentralized software platform used for its own cryptocurrency, the Ether. Ethereum is commonly referred to as the second-generation blockchain technology, or Blockchain 2.0.

Ethereum introduces the Smart Contract, and enables Decentralized Applications to be built and run without any downtime, fraud, control, or interference from a third party. Ethereum is not just a platform but also a programming language running on a blockchain, helping developers to build and publish Decentralized Applications.

The biggest setback of the Ethereum is its lack of scalability. The Ethereum network is currently capable of handling only 5 transactions per second, which is nowhere near the scale needed if it is ever going to function as the backbone of digital commerce and digital payments. In comparison, the Uber ride-hailing app processes about 12 rides a second.  


Blockchain 3.0 is a blanket term describing the technological advances being introduced to fix the current problems in the blockchain industry – specifically, for issues related to improving scalability, inter-operability, and privacy. It is also commonly defined that Decentralized Application source codes under Blockchain 3.0 run on P2P peer-to-peer, decentralized networks.

While Blockchain 1.0 (Bitcoin) launched the distributed ledger technology, and Blockchain 2.0 (Ethereum) launched the smart contract, Blockchain 3.0 should be the final missing piece in the jigsaw that the blockchain technology needs to gain widespread mainstream adoption.


Bchainlife is a Blockchain 3.0 technology, as it has made a number of technological advances to improve scalability and inter-operability. In solving the challenges faced by previous generation blockchain technology, Bchainlife, BCE in short, will introduce Smart Contract 2.0, which is easy to use and do not require complex coding skills. This will help to encourage more businesses and organizations to develop their own Decentralized Applications (D’Apps) to solve their business needs.

Therefore Bchainlife 3.0 is a platform for D’Apps across various fields and industries. It is a global ecosystem that allows the issuance of coins, tokens and securitized stocks. Bchainlife 3.0 works well with Decentralized Exchanges.

The Bchainlife Universal Wallet has the ability to store multiple fiat and cryptocurrencies, and it will come with a built-in Web3 browser to provide greater user experience.

Blockchain engineers of OCB Life Group have already tested the prototype of the Bchainlife system. The company is in the process of finalizing a couple of remaining modules, and expects to launch Bchainlife 3.0 in 2021.