APAC Digital Digest - November 2022: Tracing Digital Growth in the APAC

ClickInsights has come up with its November edition of the APAC Digital Digest wherein they cover the latest developments in advertising, telecommunications, e-commerce, cybersecurity, blockchain, social networks, fintech, and eSports. The report aims to shed light on various updates from within these industries, which can help marketers come up with effective marketing strategies.

Here are the major highlights of the report.

1. Elon Musk’s Starlink Launches Satellite Internet Service in Japan

US entrepreneur Elon Musk’s SpaceX has announced the launch of its Starlink internet service in Japan, making the country the first in Asia to deploy the satellite-based system. Starlink will tap into demand from mountainous areas and remote islands suffering from spotty or hard-to-access internet service. SpaceX made the announcement on its official Twitter page. According to its official website, the monthly service fee is ¥12,300 (US$84) on top of hardware costs of ¥73,000.

2. Samsung to Roll Out 5g Update to Eligible Devices in India Next Month, Apple in December

Samsung has announced that it will push an OTA update to all its 5G smartphones in India by mid-November. Apple also confirmed a similar update is coming, and it will hit iPhones in December. The information comes after a meeting in India attended by government executives such as the Telecom secretary and the MeitY secretary. Smartphone makers were asked to push updates, enabling the 5G services on devices that can work on standalone (SA) 5G networks.

3. Philippines Ranks 55th in World Digital Wellbeing

The fourth annual edition of the Digital Quality of Life Index (DQL) reports that the quality of digital life in the Philippines ranks 55th in the world and 14th in Asia. The country dropped by seven positions since last year's edition, falling from 48th to 55th this year. The DQL study conducted by the cybersecurity company Surfshark evaluates countries' DQL based on five fundamental digital well-being pillars, namely internet quality, e-government, e-infrastructure, internet affordability and e-security. Out of the five index pillars, the Philippines' weakest spot is internet affordability, (ranking 98th globally), and its best score is for e-security (44th).

4. Alipay Enables Transfers to Wechat Users Via QR Codes

Payment platform Alipay and digital payment provider WeChat have launched a feature that permits inter-platform transfers. AntGroup’s Alipay recently added a feature that permits its users to transfer sums to WeChat users, bridging the two Chinese digital payments providers. Alipay said that the ‘WeChat Friend Transfer’ function is a new feature launched in response to the needs of users.

5. Singapore Proposes New Law to Tackle Harmful Online Content

Social media sites could be blocked or fined in Singapore if they fail to stop users in the tightly-controlled country from accessing "harmful" content under a proposed law introduced in parliament. Under the bill, regulators can order social media platforms to block "egregious content" including posts advocating violence and terrorism or depictions of child sexual exploitation. Content that poses a public health risk or that is likely to cause racial and religious disharmony in Singapore is also included, the Ministry of Communications and Information said in a statement on Monday.

6. SOCLLY, a Decentralized Social Network for Web3.0 Creators, Launched in India

SOCLLY, a social network for Web 3.0 influencers, educators, and artists, made its launch in India. The three cofounders of SOCLLY, Prayag Singh, Naresh Katta, and Charan Kumar Borra, have created a platform that allows Web3 creators to interact with their audience. SOCLLY currently has around 15+ Web3 creators from a range of streams.

7. Coinbase Incorporates in Australia, Expands Offerings for Retail Customers

Cryptocurrency exchange Coinbase is expanding its services in Australia, which it described as “a hotbed of fintech innovation.” America’s largest crypto exchange Coinbase has announced the expansion of its services to retail customers in Australia, making it easier to buy, sell, and trade digital assets.

8. Hong Kong Promises Its Cryptocurrency Stance Is Separate from Mainland China’s

Hong Kong is moving to reassure businesses that the city’s official stance on cryptocurrencies is separate from that of mainland China, and it is now considering letting exchanges and other intermediaries sell directly to retail investors as it seeks to bring back fintech businesses. The “one country, two systems” principle “forms the basic foundation to Hong Kong’s financial markets”, and the fact that the city can introduce its own bill to regulate cryptocurrencies “shows just how separate Hong Kong is from the mainland,” Elizabeth Wong, director of licensing and head of the fintech unit of the Securities and Futures Commission (SFC), said during a panel discussion held by InvestHK.

9. Vietnam Ranks 2nd In Southeast Asia On Online Spending

For Vietnam, in 2021, revenue from the internet-based economy was $21 billion, estimated to rise to $57 billion by 2025, up about 271%. The "Vietnam e-commerce white paper 2022" released by the Ministry of Industry and Trade on September 15 cited a Google, Temasek and Bain & Company forecast that by 2025, e-commerce revenue in Southeast Asia will reach US$234 billion, almost double that of 2021 ($120 billion).

10. Jd.Com to Shut Down Europe Business and Cut Back in Southeast Asia

News that Chinese e-commerce giant JD.com‘s international business operations will undergo major adjustments has recently spread within the company. According to a report by Wall Street Technology Insight on October 27, certain business units in Europe and Southeast Asia will be most affected by the changes. It is highly probable that the firm’s Europe divisions will be canceled, while those in Southeast Asia will shrink. In the most extreme case, services in both Thailand and Indonesia will be abolished.

Wrapping Up

There’s much more in store for you in our August edition of the APAC Digital Digest. Did you know that Singapore’s largest bank DBS will be offering crypto services to 300,000 investors? Or can you believe that Aussies have already lost $242M to investment and crypto scams in 2022?

Well, to find more such valuable insights and delve deeper into the findings of the APAC Digital Digest, download the full report here.