Fast-growing markets like Hong Kong and Singapore present a new set of challenges to the first mover. However, fast-growing markets also present attractive new competitive spaces where incumbents tend to be at a disadvantage. Read on for some strategies that first-movers can use to stay ahead of the competition. If you’re looking to make your mark in the fast-growing markets of Asia, these tips can help you succeed.
Early entry
The Chinese government is cracking down on pro-democracy protesters, and that has put Hong Kong’s unique attributes at risk. Among Hong Kong’s unique attributes are free speech, legal transparency, and dynamism. However, the government of China is also pursuing greater control over the economy, putting Hong Kong residents at risk. Beijing’s crackdown on pro-democracy protesters has already resulted in the loss of international talent and operations.
Early R&D
A growing demand for cryptocurrency continues to fuel a surge in investment activity, and Hong Kong’s BC Technology Group is doing a lot right. In fact, the company’s shares aren’t reflecting the gains made by its digital asset platform OSL, which accounts for most of its revenue. But as the Chinese government tightens its grip on the administrative district, investors may still have more faith in BC Technology Group stocks to trade higher in the coming weeks.
Early customer acquisition
Standard Chartered Ventures has announced that it will launch a crypto exchange and brokerage platform. The company is a spin-off of BC Technology Group, the parent of regulated crypto platform OSL. BC Technology Group’s current CIO will serve as CEO. Wayne Trench, CIO of BC Group, said that the partnership with SC Ventures is meant to make secure digital asset trading more accessible to institutional investors in Europe.
Early technology leadership
President Trump’s statements and punitive actions against Hong Kong’s national security law have reenergized Hong Kong’s political community and given the city a new sense of relevance in the region. These actions may be intended to compensate for the city’s previous passivity in this regard, while also reversing the direction of the national security law’s implementation. Here’s what to expect from a response by the U.S. government to Hong Kong’s national security law.
Luck
In this day and age, first movers are becoming ever more important. In the world of blockchain and cryptocurrency, being the first to market is an advantage. However, it is important to note that there are some situations in which being the first to market is not necessary. In such instances, it may be beneficial to work with a new entrant to make the process smoother for both sides.
Also Read: Coinbase Launches First Crypto Derivatives Product Aimed at Retail Traders