David Lee Kuo Chuen

• PhD
• Visiting Fulbright Scholar 2015 at Stanford University

This study presents a comprehensive comparative analysis of eight prominent open-source frameworks designed to facilitate the development of agentic AI systems: LangGraph, Agno, SmolAgents, Mastra, PydanticAI, Atomic Agents, CrewAI, and AutoGen. As the domain of agentic AI evolves at a remarkable pace, developers face increasing challenges in selec...

Establishing trust among strangers online can be challenging, especially with the prevalence of fraud in e-commerce. Advocates of blockchain technology argue that it can effectively prevent misconduct and promote trust among users. However, without the right mechanisms in place, fraud can persist in blockchain-based marketplaces. This paper present...

The integration of generative AI (GAI) into the financial sector has brought about significant advancements, offering new solutions for various financial tasks. This review paper provides a comprehensive examination of recent trends and developments at the intersection of GAI and finance. By utilizing an advanced topic modeling method, BERTopic, we...

In 2021, public blockchains have made remarkable progress with the support of investors and developers, ushering in the era of the multi-chain world, which represents a paradigm shift that is unlikely to be reversed. Cross-chain protocols have become an essential infrastructure in this new world, referring to a standardized set of rules and process...

This paper aims to provide a comprehensive overview of the different voting schemes used in DAO governance. We will examine the various features of these schemes and compare their differences. We propose a new hypothetical voting mechanism specifically designed for decentralized and permissionless DAO governance. This new scheme, which incorporates...

Since its inception in 2008, cryptocurrencies are gaining adoption globally. Even though its utility may vary, the primary purpose of cryptocurrencies is to provide some form of payment (or medium of exchange) in the digital world. As more use cases arise from the industry, cryptocurrencies and blockchain are no longer a niche topic. Educational in...

This paper discusses the key considerations of CBDC design to balance benefits and risks and presents best practices in CBDC design from a global perspective. Using China’s CBDC as an illustration, this paper discusses two-tier or multi-tier ledger design and proposes ten enablers of mass adoption and successful implementation. This proposed design...

Few blockchain centric projects have gone beyond their white paper or proofs-of-concept. While many have fallen below expectations and failed to address the fundamental issues of scalability, privacy, and trust distribution, there are a few “imperfect” projects that are making an impact on society. We describe the lessons learned from three project...

While Bitcoin gains increasing popularity in different payment scenarios, the transaction fees make it difficult to be applied to micropayment. Given the wide applicability of micropayment, it is crucial for all cryptocurrencies including Bitcoin to provide effective support therein. In light of this, a number of low-cost micropayment schemes for B...

This book is a comprehensive comparison of the US tech firms and China. It covers every division of Apple, Microsoft, Amazon, Alphabet, Facebook and Google. Then it compares all of these companies by division with Alibaba, Tencent, Baidu and Ping An. In addition, it has a long chapter on the importance of quantum computing and its practical applica...

Cryptocurrency market has been growing fast since its emergence in recent years. Moreover, digital finance has forged the convergence of profit motives with social objectives creating a class of large FinTech companies. In addition, the underlying technology innovation may be applied to a wide range of industries, not limited to financial sector. Y...

This paper will review some of the innovation thoughts such as creative destruction, innovation paradox and leapfrog economics, and explore the idea of decentralisation and distributed innovation. Examples of growth of FinTech companies in China and FinTech policy response from Singapore will be used to illustrate the efforts in innovation. We look...

The correlation structure across assets and opposite tail movements are essential to the asset allocation problem, since they determine the level of risk in a position. Correlation alone is not informative on the distributional details of the assets. Recently introduced TEDAS—Tail Event Driven ASset allocation approach determines the dependence bet...

Bitcoin was the first cryptocurrency using blockchain and has been the market leader since the first bitcoin was mined in 2009. After the birth of bitcoin in the Genesis Block, more than 1000 altcoins and crypto-tokens have been created with at least 919 trading actively on unregulated or registered exchanges. This entire class of cryptocurrency an...

We analyse a sample of funds and other securities each assigned a total rating score by an unknown expert entity. The scores are based on a number of risk and complexity factors, each assigned a category (factor score) of Low, Medium, or High by the expert entity. A principal component analysis of the data reveals that based on the chosen risk fact...

Fintech holds boundless potential in the context of social inclusion. As new platforms and technologies are introduced to the market, and the boundaries of traditional business models are challenged, financial services can be provided with greater accountability, efficiency and accessibility. Ant Financial, China's largest Fintech company in the ma...

This chapter surveys the landscape of insurance technology and its potential from the perspective of enablement for financial and insurance services. Digital revolution is occurring in a sector that has hardly changed over the last 300 years. Surprising to many, recent innovation in China's digital finance space has shown that emerging entities can...

The financial system, which governs and manages the practice of deposits, lending and payments, is in the throes of disruption following the shortcomings of the current regime. Despite US$11 trillion in quantitative easing since 2007, economic growth has been persistently sluggish. The money isn't going where it should be. In 2015, McKinsey reporte...

Handbook of Blockchain, Digital Finance, and Inclusion, Volume 1: Cryptocurrency, FinTech, InsurTech, and Regulation explores recent advances in digital banking and cryptocurrency, emphasizing mobile technology and evolving uses of cryptocurrencies as financial assets. Contributors go beyond summaries of standard models to describe new banking busi...

In April 2016, Alibaba's Ant Financial Services Group announced US$ 4.5 billion in its Series B round of financing, making history as the largest private funding round for any Internet company. Technology is changing the face of finance in China and disrupting traditional financial institutions and giving the Chinese people access to more financial...

The term "blockchain" originally refers to the underlying technology used in implementing the Bitcoin protocol and network based on a paper published by Satoshi Nakamoto in 2008. The present-day use of this term generally refers, in a broad stroke, to a myriad of nascent distributed ledger technologies that are either associated with or evolved fro...

Like many microfinance markets, the promises of microfinance institutions (MFI) have not been fully fulfilled in Indonesia due to high cost of operations and lack of sustainability, and impact of these programs. TBOP, a Singapore-based technology company that specializes in digital, data, and process design transformation technology, has developed...

Handbook of Blockchain, Digital Finance, and Inclusion, Volume 2: ChinaTech, Mobile Security, and Distributed Ledger emphasizes technological developments that introduce the future of finance. Descriptions of recent innovations lay the foundations for explorations of feasible solutions for banks and startups to grow. The combination of studies on b...

Recent innovations in fintech and blockchain technology have captured the imaginations of people around the world, and the attention of the banking world. As everyone prepares for a new era in Digital Banking and Internet Finance, now is a uniquely opportune moment to harness the power of innovation for an undisputed good: Financial Inclusion. Star...

We analyse a sample of funds and other securities each assigned a total rating score by an unknown expert entity. The scores are based on a number of risk and complexity factors, each assigned a category (factor score) of Low, Medium, or High by the expert entity. A principal component analysis of the data reveals that based on the chosen risk fact...

Bitcoin exchanges act as the most important third-party intermediary by serving as the gateway for newcomers to step into the Bitcoin world and supporting payment transactions of the users. However, this exchange market continues to puzzle the Bitcoin enthusiasts. Many users may prefer to deposit their Bitcoins in a large exchange for the benefit o...

Since the creation of Bitcoin in 2009, many alternative cryptocurrencies (altcoins) have been created that claim to be the currency of the future. There are now over 440 active altcoins in the market and new ones are being created each day. With every altcoin claiming to offer distinctive features, it is becoming increasingly difficult for investor...

Bitcoin network functions on cryptographic technology and thrives on mining, an incentivized technique to generate new bitcoins. In this chapter, we describe the fundamentals of Bitcoin system, underlying technical aspects of the network and mining process. We have also assessed the methods of mining, the concerned opportunities and implications fo...

In this chapter, the authors examine the Bitcoin protocol and its innovation. Their conclusion is that Bitcoin's role as a system providing financial services may have been grossly underestimated, and bitcoin's role as an alternative to fiat currencies is likely to fail. This chapter discusses the Bitcoin key engineering elements that offer the pos...

This chapter considers the evolution of alternative digital currencies from DigiCash to Bitcoin, the very digital currency that has spurred the development of this book. Specifically, this chapter explores the general features of Bitcoin and its benefits and risks before suggesting some conditions for a successful cryptocurrency to thrive. The chap...

With the rise of Bitcoin, governments are increasingly concerned about the risks that the market will face as a result of these virtual currencies. This chapter considers the virtual currency landscape from a market supervisory perspective. First, Bitcoin is introduced as a type of virtual currency known as a decentralized cryptocurrency, and the m...

We discuss the recent attempts at initial public offering (IPO) for Bitcoin entities on traditional exchanges and the emergence of alternative unregulated decentralized exchanges via blockchain technology in this chapter. The first part of this chapter considers, as case studies, the legal structure of the Digital CC IPO in Australia, the Winklevos...