With 5G services kicking off in Taiwan in July 2020, cloud applications and IoT innovations are rapidly rolling out. NTPC-AWS Joint Innovation Center founded by New Taipei City Government, Amazon Web Services (AWS), and FCC Partners Inc held its third Demo Day: The Innovators 3 on July 15, with Chee Ching, general manager, FarEasTone (FET) Telecom, delivering a speech shedding light on 5G opportunities, and Unblock Analysis winning The Startup with Most Investment-Potential award for its innovative cloud system Know Your Transaction (KYT).

Unblock Analysis said its KYT checks details of every online transaction conducted all over the world using artificial intelligence (AI), providing comprehensive services encompassing everything from basic name verification to client risk identification. It traces blockchain and cryptocurrency transactions to counter against money laundering. Nicknamed "Sherlock Holmes of the digital world," Unblock Analysis will represent Taiwan to participate in the establishment of standards for anti-money laundering at the 2020 G20 Summit.

Chee Ching: Unparalleled 5G speed unleashes creativity

"3G network is like a highway, 4G a freeway and 5G an overpass. A rapidly increasing number of applications enabling digital living will spur explosive 5G growth," noted Ching. The telecom sector is not the so-called "dump pipe" but a leader that aggregates top-notch efforts to propel the industry forward. The availability of 5G has brought telecom services to a whole new level. How 5G services will invigorate the market will depend on the creativity of startup teams. Ching expects blistering 5G speed to spark limitless ideas for all applications and services whether they are 2B, 2C or B2C. 5G will drive Taiwan's economic growth, allow people to enjoy conveniences brought by technological advances and enable a win-win for all.

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