Technological Mimicry as a Business Model
The world’s two largest economies remain deadlocked in a battle of long-winded disputes. On one side, the US volleys accusations of IP theft. On the other, China fires back with allegations that America’s motivation is to retain its stranglehold over the world’s finances.
Neither nation is willing to yield or ‘agree to disagree.’ Too many billions of dollars and yuan are at stake. And as both countries continue to hike tariffs and impose duties on one another’s wares, there’s no clear victor.
But here in Vietnam — one of Southeast Asia’s most prolific tech hubs — the current US-China trade war is stoking the flames of progress. You see, China’s deep well of IP presents tremendous opportunities for startup growth.
With its massive population and proven ability to quickly scale profitable companies, the US has every right to feel threatened. And by scrutinizing our Northern neighbor’s seemingly endless flow of startups, RedFOX Labs is staying ahead of the curve.
Climbing Inside Ben’s Brain
Alex Saunders of Nugget’s News recently caught up with our CEO, Ben Fairbank, to get his opinion on Southeast Asia’s startup culture. And as adept interviewers do, Alex asked the questions some viewers already had in their heads.
RedFOX Labs doesn’t conceal its intent to discover what’s working abroad, then launching similar companies within the emerging markets of SEA. During the interview, Ben gave Alex a synopsis of our project’s approach to launching new ventures:
“We look for things that exist elsewhere, are in demand here, but haven’t made their way here yet.”
Now, it’s important to clarify our implementation of existing technologies. We don’t fold patented tech into our current business ventures. Instead, we replicate business models that work, then differentiate the underlying tech to gain an advantage.
For example, Uber, which no longer exists in SEA, displays a driver’s estimated time of arrival. In contrast, Grab uses driver distance to give passengers an idea of when to expect a ride. Same technology, vastly different user experience.
Experts of Nothing
In the interview, which you can find below, Benny goes into detail about why RedFOX relies on partnerships to drive forward momentum. You see, the right collaborations allow us to scale quickly.
Rather than devoting our limited time to learning the nuances of unfamiliar tech, we partner with experts. Farther down the road, when the time is right for all parties, we learn from our cohorts and move similar offerings in-house.
Because we’re so close to the public beta testing phase, one of our favorite topics of discussion is blockchain gaming.
Our upcoming smartphone game is one-of-a-kind. What makes it so unique? Well, courtesy of Komodo Platform’s technology — plus over 2,000 lines of code — we’re recreating a real-world game from the early ‘90s.
Other apps have tried and failed to replicate what we’ve now accomplished. And like its inspiration, our new game features collectible pieces.
But this time around, all buying, selling, and trading your game pieces — NFTs — happens in a digital marketplace rather than your friend’s game room. In addition, 100% of the game’s logic occurs on the blockchain — an industry 1st!
Now, this digital feat wouldn’t be possible without direction from the leader of our gaming studio, Arclegger. As one of our project’s first key hires, Arc exemplifies our strategy of learning from and working with experts across multiple industries.
Grab the Popcorn
Okay, enough talking about the video — it’s time to see the interview for yourself:
Now, there’s more to unpack than videogames and intellectual property.
Watch to learn about the crypto scene in China, countries poised to play technological leapfrog, bitcoin versus the world’s central currencies, Australia’s tech woes, and much more.
In our utterly unbiased opinion, this is an excellent discussion on Asia’s current tech environment. Be sure to give it a look!