At The Binary Summit, a big event hosted by a Web3 company from Thailand called Binary Holdings, top tech leaders came together to discuss the future of technology.
They discussed an exciting idea — could Asia become the home of the next digital nation? They also shared thoughts on where technology in the region is heading next.
Diksha Dwivedi, the founder of YOSO Media, led the discussion. On the panel were:
- Manit Parikh, the CEO of Binary Holdings
- Rohit Raj, the CEO of Done Deal
- Jack Heffernan, the founder of Knightsbridge Group
- Kamal Sharma, a Senior Vice President at Hungama
Asia’s digital momentum
Kamal Sharma started the discussion by describing how fast Asia is growing in the digital world. He pointed out India’s UPI (Unified Payments Interface) as a great example—it handles about 600 million daily payments, up to $9.7 billion.
He said, “India is one of the biggest digital economies now.” He also explained how, after COVID, things like telecom and media have improved a lot, making it easier for people to stay connected.
He talked about Kenya’s M-Pesa, a mobile money service run by a telecom company that plays a big role in the country’s economy. He said this is a good example of how telecom companies in Asia are also changing—not just offering phone services but becoming big business platforms.
Sharma explained that telecom companies in Asia are no longer just about giving people internet or phone connections. Now, they play a big part in building the digital systems that support everything online.
He said, “Telcos are trying new ways to grow, and many are now focusing on business and tech solutions.” They’re becoming a key part of Asia’s digital future.
Web 2.5 and the rise of digital identities
Manit Parikh talked about Web 2.5, which acts like a bridge between the internet we use now (Web 2.0) and the future of the internet (Web3). In Web 2.5, people can use blockchain technology without knowing how it works.
He said, “Asia has a very young population, and they don’t need to realize they’re even using blockchain.”
By using crypto wallets through telecom companies, banks, or gaming apps, people are building digital identities. All their actions and payments are recorded, helping to create a strong system—like a digital backbone for a future online nation.
The startup ecosystem’s role
Rohit Raj, whose company Done Deal helps startups grow, pointed out that about 1.2 billion people in Asia don’t have full access to banking services. This creates a big opportunity for new ideas.
He said, “Data is very powerful, and using token-based rewards helps collect that data.” Startups are using this information to create more personalized products.
He also explained that, unlike in the West, where people are very concerned about privacy, many Asian consumers are more open with their data. This makes it easier for companies to build trust and create new, smart solutions.
Raj gave the example of India’s app Cred, which started as a small tool to help people pay credit card bills. Over time, it became a “super app” offering many services for India’s richest 1%.
He said, “Startups begin by fixing small problems, earning people’s trust, and growing bigger.” He believes that soon, Asia will not only be known for having many users but also become a major source of business and money.
Capital and culture convergence
Jack Heffernan said that for Asia to grow even more, money (capital) and mindset (culture) need to work together.
He pointed out that Asia has been leading in tech for a long time—for example, Yahoo’s early success in Singapore—but often, non-Asian companies make most of the profit.
He said it’s time for investors to support local Asian companies and give the region the recognition it deserves as a major tech center.
He also discussed how Asia’s startup scene faces challenges because it’s difficult for investors to sell their shares or exit businesses, which slows down growth.
He said, “We’re working on fixing this, and it should get better in the next 3 to 5 years.” He also called for simpler rules and clearer accounting, which would make investors feel more confident about investing in Asian startups.
Storytelling and distribution
Sharma came back to discuss Hungama’s partnership with Binary Holdings. The goal of this partnership is to improve content distribution in 90 countries, reaching 65 million users, 85% of whom are from Asia.
He mentioned that gaming alone is worth $125 billion and growing by 38% yearly, showing how Asia is leading in this area.
Sharma also highlighted Hungama’s ArtistAloud platform, which lets local artists upload their music automatically without human help. This shows how tech is making things more efficient in Asia.
Parikh explained that the partnership avoids competing by combining Binary Holdings’ tokenization knowledge with Hungama’s content strength. He said, “We’re reaching bigger markets and creating more value for users.”
He also discussed creating a tokenized content system that would change how content is shared in Web 2.0 and Web 3.0.
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