Rong Kai Wong is the CEO of PARSIQ, a leading Web3 blockchain company founded in 2018. He has more than 12 years of experience working in law enforcement, strategy and business development.
Wong graduated from the Imperial College in London in 2012 with a Master’s Degree in Chemical Engineering. Upon graduation, he returned to Singapore to serve his nation as a police officer. For the next eight years, Wong rose through the ranks before exploring other career options due to personal commitments.
From Law Enforcement to Blockchain
Wong joined Binance in 2020 where he managed the 100 million dollar BSE accelerator fund with his team. PARSIQ was one of the few promising companies in which Binance invested. Wong eventually left Binance to join PARSIQ as the COO and subsequently promoted to his current designation of CEO.
His organizational and leadership qualities from working as a police commandant helped PARSIQ become one of Europe’s fastest-growing blockchain data companies. Judging by current events like the Reactive Network launch, the company looks poised to transform Web3 technologies in the coming days.
Leadership in corporate environments often lack the structured training prevalent in traditional law enforcement. Corporate leaders are more focused on commercial goals, such as scaling companies, hitting KPIs and attaining commercial success. Wong believes leadership is more than just business.
“Leadership skills are different from managerial skills. They come from the heart,” he asserts. Effective leaders unite the workforce and align individual and organizational objectives. The ability to get people to congregate and work toward a common goal of betterment distinguishes a leader from a manager.
Wong’s police service honed his crisis management and leadership skills as he often had to make split-second decisions, sometimes with life-and-death consequences. This high-stakes environment strengthened Wong’s operational foundations, emphasizing the effectiveness of quick, decisive actions and clear communication.
Europe Versus APAC
Having worked extensively across Asia Pacific and Europe, Wong is uniquely positioned to offer insights into the challenges and opportunities in these regions. In his own words, “Singapore is multicultural and I am grateful to have been born and raised there. It has helped instill key values and skills for navigating multicultural environments.”
Recognizing and adapting to different work styles, cultures and environments is crucial when team members are spread across the globe. While virtual meetings are necessary, they might lead to miscommunication and misunderstandings. This is why Wong believes periodic in-person discussions are crucial for harbouring a collaborative work environment.
Wong notes the blockchain regulatory landscapes in APAC are fragmented compared to Europe. However, the latter has been at the forefront of adapting new technology like Web3. “The younger generation is hungry. They learn quickly and adapt rapidly,” Wong observes.
He believes South East Asia’s youthful population is a significant contributor to blockchain’s popularity in APAC. Furthermore, the region benefits from a favourable regulatory environment and a dynamic pool of human resources and creative ideas. On the other hand, Europe must balance safeguards with business-friendly laws to keep pace with the rapid global technological advancements.
The Road Ahead for PARSIQ
PARSIQ has seen significant growth under Wong’s leadership. One of the key milestones has been the development of strategic products. The upcoming Reactive Network is the company’s biggest and most ambitious project yet. The open testnet, which launched recently, is performing optimally and Wong aims to break through blockchain’s current architectural limitations with the livenet.
Reactive Network represents a significant paradigm shift. “If you imagine blockchains as islands since they do not communicate with each other, cross-chain communication protocols are bridges between these islands. Reactive Network aims to be the first autonomous car fleet to travel on those bridges,” Wong explained.
As blockchain technology continues to evolve, PARSIQ is transitioning from a traditional SaaS model to a decentralized development foundation. Wong believes this shift is paramount for keeping up with the market’s changing demands and is the result of lessons that he learned over the past five years.
Wong emphasizes the importance of strategic foresight and behavioural agility: “The key is to always be agile at the drawing board, even when things are going our way. We must consistently ask ourselves, what can we do to make a breakthrough in this industry?”
Wong believes the future belongs to blockchain and traditional technology will eventually make room for the Web3 model. However, in order for that to happen, certain problems with blockchain must be solved.
