introduction
More than 300 industry leaders, more than 200 keynote speeches, more than 100 side events, 57 roundtable meetings, 7 fireside chats... The 2023 Hong Kong Web3 Carnival brings more than just shock to the world.
On April 15th, the 2023 Hong Kong Web3 Festival (Hong Kong Web3 Festival 2023), co-hosted by Wanxiang Blockchain Labs and HashKey Group, came to a successful conclusion at the Hong Kong Convention and Exhibition Center.
As the most grand Web3 event in Hong Kong history, it not only attracted the gathering of Web3 practitioners from all over the world, but also received the full support of the Hong Kong government.
On the morning of April 12 alone, the guests attending the opening ceremony of the Hong Kong Web3 Carnival included Chen Maobo, Financial Secretary of the Hong Kong Special Administrative Region Government, Cai Zhonghui, interim director of the Intermediary Department of the Hong Kong Securities Regulatory Commission, Chen Jiaqi, Assistant President of the Hong Kong Monetary Authority, and Hong Kong Cyberport Management. Ren Jingxin, chief executive officer of the limited company, etc.
In addition, popular Web3 ecological projects and products such as OKX, Chainlink, Binance, Aptos, Arbitrum, Scroll, etc. participated in this conference, bringing valuable sharing to Web3 enthusiasts all over the world.
So, what are the highlights of this carnival? What does it mean for the industry, Hong Kong and the world? In the future, how to find new opportunities for Web3 in Hong Kong?
The Hong Kong government fully supports the development of the Web3 industry in Hong Kong
There is no doubt that the Web3 attitude of the Hong Kong Special Administrative Region Government is the key to the success of this carnival.
As early as October 31 last year, the Hong Kong Special Administrative Region government officially issued the "Policy Declaration on the Development of Virtual Assets in Hong Kong", clarifying the government's policy stance and guidelines, and at the same time clarifying that Hong Kong will welcome global innovators engaged in virtual asset business and an encouraging attitude.
In December, the Legislative Council of Hong Kong passed an amendment to the Anti-Money Laundering and Anti-Terrorist Financing (Financial Institutions) Ordinance (AMLO), introducing a licensing system for virtual asset service providers (VASPs) (to be implemented on June 2023). effective on January 1). The new licensing system explains in detail how to apply, prohibited content, regulatory objectives, and sanctions.
On January 31, 2023, the Hong Kong Monetary Authority issued a "Conclusion of the Discussion Paper on Encrypted Assets and Stablecoin", which clarified the parameters of the proposed general regulatory plan based on the feedback from the previous discussion papers, and will give priority to the supervision of encrypted Stablecoin. , and gave a detailed introduction to regulatory activities, target implementation time, licenses, regulatory principles, etc., and many traditional financial institutions participated in the proposal.
On February 22, Chen Maobo, Financial Secretary of the Hong Kong SAR Government, announced the 2023-2024 SAR Government Budget, saying that Cyberport had established a Web3 base earlier this year, and he would allocate 50 million yuan to accelerate the development of the Web3 ecosystem. Development, including organizing large-scale international seminars to enable the industry and enterprises to better understand cutting-edge developments, promote cross-sector business cooperation, and organize more youth workshops.
On April 11, the Hong Kong Web3.0 Association was established, and Norman Chan, former president of the Hong Kong Monetary Authority, served as the chairman of the association. Attending guests included Lee Kar-chao, Chief Executive of the Hong Kong Special Administrative Region, Leung Kwan-yan, Chairman of the Hong Kong Legislative Council, Tang Bingqiang, Hong Kong Secretary for Security, and others. The Hong Kong Web3.0 Association is a cross-industry and non-profit organization that aims to respond to the call of the country and the Hong Kong Special Administrative Region Government to promote the construction of the digital new world Web3.0 "third-generation Internet" ecological environment in Hong Kong. In addition to relevant associations, Hong Kong will also set up a Web3Hub fund to support more overseas Web3.0 companies to settle in Hong Kong.
On April 12, the 2023 Hong Kong Web3 Carnival (Hong Kong Web3 Festival 2023) opened at the Hong Kong Convention and Exhibition Center. Chen Maobo, Financial Secretary of the Hong Kong Special Administrative Region Government, Cai Zhonghui, interim director of the Intermediary Department of the Hong Kong Securities Regulatory Commission, and Chen Jiaqi, Assistant President of the Hong Kong Monetary Authority The attendance of politicians and other politicians at the opening ceremony shows that the SAR government attaches great importance to this meeting and supports the development of the Web3 industry in Hong Kong. Chen Maobo said that now is a golden opportunity for the development of Web3, and it is also a thrilling moment. Hong Kong will promote the sustainable and responsible development of the virtual asset market.
It is worth noting that Hong Kong's Web3 "attitude" is supported by the central government. Chen Dong, deputy director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region, said at the "2023 Digital Economy Summit" that Hong Kong has a good foundation and unique advantages for the development of the digital economy. The development of the digital economy has become a national strategy. Hong Kong is a free, open and standardized business environment. The environment provides a good soil and platform for the development of the digital economy.
From the promulgation of policies to the support for enterprises, the Hong Kong SAR government has sent a signal to the world that this international financial center city will embrace Web3 and welcome global Web3 enterprises to choose Hong Kong, take root in Hong Kong, and harvest in Hong Kong.
Hong Kong Web3 Carnival Heroes Gather
The 2023 Hong Kong Web3 Festival (Hong Kong Web3 Festival 2023) is jointly organized by Wanxiang Blockchain Lab, HashKey Group and W3ME. Attracted OKX, Binance, Chainlink Labs, DFINITY, Aptos, Arbitrum, Scroll and many other star products and projects to share on stage, as well as more than 300 industry leaders, founders of blockchain projects, investors, representatives of regulatory agencies, experts and scholars to express their views . In addition, tens of thousands of spectators participated in the live event.
So why is this carnival so appealing?
(1) The sponsor is strong
This conference is led by Wanxiang Blockchain Lab. Wanxiang Blockchain has been successfully selected as "2022 Shanghai Software Core Competitive Enterprise (Innovative Type)". At present, it has invested more than 1 billion RMB in the blockchain field, and has invested in more than 500 high-quality blockchain projects around the world.
The "Blockchain New Economy" series of blockchain global summits and Shanghai Blockchain International Week are high-quality content-based blockchain events held by Wanxiang Blockchain Lab in Shanghai every autumn since 2015. chain activity.
Every year, the summit and the international week invite world-renowned technical experts, experts and scholars, and representatives of other industries to gather together to discuss the current development trend, challenges and opportunities of blockchain technology. Therefore, the event initiated by Wanxiang Blockchain has become the top exchange event in the blockchain industry.
On January 18, 2023, Wanxiang Blockchain Lab announced that it will jointly hold the "Hong Kong Web3 Festival 2023" with HashKey Group and W3ME. According to official news, Web3 Festival will become one of the brand activities of Wanxiang Blockchain Lab, and this carnival in Hong Kong is the first of this series of activities.
HashKey Group, as one of the organizers of this carnival, undoubtedly attracted much attention. It is understood that HashKey Group is an end-to-end digital asset financial services group in Asia, headquartered in Hong Kong, with operations in Singapore and Tokyo. HashKey Group mainly provides new investment opportunities and solutions for institutions, family offices, funds and professional investors in digital assets and blockchain ecosystems.
On February 24, HashKey Group was approved by the Hong Kong Securities Regulatory Commission to conduct over-the-counter trading (OTC) of virtual assets.
At this carnival, HashKey Group and DePIN project arkreen released the "Bitcoin Block Computing Power Carbon Neutral Application", and its compliance exchange Hashkey Pro may be launched soon. At the same time, former Huobi Global CEO Livio Weng (industry nickname Qiye) announced to join HashKey Group as Group Chief Operating Officer (COO).
The reason why HashKey Group and Wanxiang Blockchain Lab can co-host this event is because the two companies have the same chairman——Xiao Feng.
Xiao Feng, born in 1961, holds a Ph.D. in economics from Nankai University. He has more than 18 years of experience in securities industry and asset management. He is one of the few entrepreneurial veterans in the fund industry who are still active in the front line of management.
On October 17, 2015, Xiao Feng met Ethereum founder Vitalik Buterin at an informal event organized by him. The Ethereum project was also quickly attracted by Wanxiang. In the "Wanxiang Blockchain Laboratory" established by Wanxiang, Vitalik Buterin is the chief scientist.
Through the acquaintance with God V, Xiao Feng saw the subversion of technology and smelled the power of capital. As the status of Wanxiang Blockchain Laboratory continued to rise in the industry, Xiao Feng also became a very influential figure in the Web3 circle.
In this carnival, besides delivering a welcome speech at the opening ceremony, Xiao Feng also participated in many activities. On April 14, Xiao Feng presided over the establishment ceremony of the "Green Bitcoin Alliance", which aims to help promote Bitcoin as a green global currency.
On April 15th, Xiao Feng delivered a keynote speech on "Three Token Models of Web3 Applications" at the closing ceremony, expounding the three token models of Web3 application protocols: NFT (data, product and service value), functional Token (use right value) And security Token (ownership value, that is, equity value).
W3ME is the organizer of the 2023 Hong Kong Web3 Carnival, but there is little information about W3ME. According to online information, W3ME was established on November 15, 2022 and is a private company limited by shares registered in Hong Kong.
(2) The agenda of the conference is comprehensive
The 2023 Hong Kong Web3 Carnival has a total of 1 main venue and 4 sub-venues, covering an area of nearly 9,000 square meters.
A total of more than 20 themed activities were carried out around the core issues of each track of Web3, inviting world-renowned Web3 project leaders and senior practitioners to share Web3 cutting-edge technology solutions; well-known investment institutions participated in it, and even representatives of regulatory agencies deeply analyzed regulatory policies. Clear development boundaries.
On the afternoon of April 12th, the main venue was themed "The Road to Virtual Asset Development", while the sub-venues were themed on "New Trends of Web3 Technology: Artificial Intelligence Generated Content (AIGC) and Privacy Computing Technology", "New Development of Web3 in Hong Kong: From Web2 to Web3", "Technical Exploration and Implementation of Industrial Blockchain", and "DeSoc on the Wind: SBT, DAO and SocialFi" are the themes, which can be said to have extensively touched on all aspects of Web3's underlying technology, industry applications, and industry development. .
The main venue on April 13 will be themed "The Hitchhiker's Guide to the Metaverse: NFT, GameFi, and Infrastructure", and will discuss in depth the development trends, infrastructure, opportunities and challenges of the Metaverse from multiple perspectives. The topics of the branch sessions include "Web3 Technical Infrastructure: Layer 2 Network", "Web3 Financial Infrastructure: DeFi", "DePIN: Web3 and Digital Infrastructure", "Staking Discussion", "Web3 Financial Infrastructure: Digital Wallet and DID", "Renewable Finance (ReFi): Web3 Carbon Neutrality", "Blockchain and Payment: Technology, Supervision and Practice", explore the application scenario expansion and development of Web3 in the field of finance and double carbon from different angles and levels deepen.
From April 14th to April 15th, guided by the early blockchain projects and their technological development, they will focus on the ecological development of Bitcoin and Ethereum respectively, and deeply analyze the highlights of popular applications today, helping Web3 practitioners and enthusiasts Grasp the opportunity of the times.
(3) Web3 projects gathered together
Project sharing is the focus of this carnival. According to the statistics of Web3CN, there were more than 200 keynote speeches, 57 round table talks, 7 fireside chats, 5 partner special events and 4 signing and launching ceremonies in this carnival.
① More than 200 keynote speeches:
There were more than 200 keynote speeches at the carnival. In addition to the opening ceremony, opening speech, and point of view sharing, there were 180 project-related introductions, including OKX, Chainlink, DFINITY, Alibaba Cloud, Polygon, Aptos, NEAR, Arbitrum, ConsenSys, Scroll, Celer, Metis, dYdX, imToken, .bit, PlatON, Zebec, Opside and other popular products. Among them, there are 37 projects, and 10 VCs participated in the Demo Day themed activities.
Neal Stephenson, the author of "Avalanche", Hackathon champions from Singapore, Tokyo, Bangkok, and Hong Kong, and Sara Mao, Education Director of Christie's Asia Pacific, all made wonderful sharing at the meeting.
② 57 round table talks:
There are as many as 57 carnival roundtable talks (including 3 HashKey Capital sessions), topics ranging from CeFi to DeFi, from digital currency to NFT art, metaverse games, from Web3 infrastructure to ecological construction, from supervision to privacy security... It covers all aspects of the current hot topics in the Web3 industry.
Meitu Chairman Cai Wensheng, Unique Art CEO Tong Shitian, famous musician Chen Huanren, Mars Finance Wang Feng, Waterdrop Capital co-founder Jerry Liu, imToken founder Ben He and other industry leaders participated in the roundtable event.
③ 7 fireside chats:
The fireside chats received a lot of attention, including: HashKey Capital CEO Deng Chao and Binance founder CZ Zhao Changpeng, Wanxiang Blockchain Chairman Xiao Feng and North Beta Capital Chairman Zhu Zhengguo, Wu Shuo Blockchain founder The conversation between Colin Wu and Cobo co-founder Shenyu, etc.
④ 5 partner special events:
Partner special events include NEAR, MetaEra x BitMart, Filecoin, Microsoft and Young Pioneers.
⑤ 4 signing and launching ceremonies:
On the morning of April 12, at the 2023 Hong Kong Web3 Carnival, Ms. Kong Dejun, deputy head of the People's Government of Shangcheng District, Hangzhou, and Mr. Li Dafeng, representative of the Hong Kong Trade Development Council, signed the "Hangzhou-Hong Kong Web3 Industry Linkage Memorandum". By giving full play to the respective advantages of Hangzhou and Hong Kong, strengthening resource complementarity and sharing, and deepening industrial linkage and cooperation in the Web3 field, we will effectively promote the deep integration of Hangzhou and Hong Kong's Web3 industries, and realize the aggregation effect of 1+1 greater than 2.
On the morning of April 13, Xiao Feng, chairman of Wanxiang Blockchain and chairman of HashKey Group, and invited guests jointly launched the "Co-construction of DePIN Hong Kong Initiative".
On the morning of April 14, Xiao Feng, chairman and general manager of Wanxiang Blockchain and chairman of HashKey Group, presided over the establishment ceremony of the "Green Bitcoin Alliance".
On the morning of April 15th, at the Cross-chain theme venue, Bianjie Global, IBCL, Octopus Network, and ND Labs jointly participated in the launching ceremony of the Cosmos HK Accelerator.
(4) An event for Web3 practitioners
In addition to the wonderful scene of the 2023 Hong Kong Web3 Carnival, the streets and lanes in Hong Kong are also very lively.
In the past week, more than 100 Web3-related activities, salons, closed-door meetings, and banquets were held in Hong Kong. Mainly concentrated in Jinzijin Plaza (Hong Kong Convention and Exhibition Centre), Causeway Bay, Central, Cyberport, Victoria Harbor and other popular areas.
OKX, Binance, Houbi, Bitmart, Naka Accelerator, Conflux, Xinhuo Technology, etc. all held peripheral activities. Sun Yuchen, Bao Erye, Du Jun, Yi Nengjing and others appeared at the event. In addition, some Web3 industry media also held activities, such as We3CN and Tiger VC DAO jointly held the "Long HK, Long Crypto" themed event, Foresight News held the "Foresight 2023" series of activities, and vernacular blockchain, chain Catcher, Odaily, PANews, ChainDD, Shenzhen Chao and other media all deeply participated in this grand event in Hong Kong.
It is reported that during the event, the prices of air tickets and hotels in Hong Kong have doubled and the supply is in short supply. The global Web3 Builders gathered here to promote the development of the industry.
The meaning and influence of carnival
The four-day 2023 Hong Kong Web3 Carnival officially came to an end. This feast gathered top figures, technologies, projects, and capital in the global Web3 industry, which has far-reaching significance for the development of the industry.
(1) Carnival Highlights
Established the Hong Kong Web3.0 Association and launched the Hong Kong Web3Hub Fund
"Hangzhou-Hong Kong Web3 Industry Linkage Memorandum" signed
Web3Hub Foundation will launch a $100 million Web3 Ecological Fund
HashKey Group launches ecological integral HSK: the total supply is 1 billion pieces
Cyberport will focus on attracting and cultivating global outstanding Web3 enterprises
"Avalanche" author Neal Stephenson said to attract more people to join the metaverse
CZ Changpeng Zhao Says Banks in Hong Kong Will Attract More Funds After Supporting Cryptocurrencies
OKX is applying for a Hong Kong VASP license under the new regulatory regime
Hong Kong ZhongAn Bank Offers Crypto-to-Fiat Exchange Services
HashKey Group launches "Web3DePIN Hong Kong Initiative"
"Web3 Economy and the Future of Tokenization"Whitepaper Released
OKX, Chainlink, DFINITY, Polygon, Aptos, NEAR, Arbitrum, ConsenSys, Scroll, Celer, Metis, dYdX, imToken, .bit, PlatON, Zebec, Opside and other popular projects and products were shared.
(2) Significance to Hong Kong
Over the years, the conflict between the East and the West has been escalating. Hong Kong, once a place where the cultures of the East and the West meet, has now become the frontier of friction and conflict between the two parties. Coupled with the impact of the epidemic and the original tough regulatory policies for cryptocurrencies, Hong Kong is facing a crisis of talent and wealth. Serious drain.
Since last year, Hong Kong has seized the wave of Web3 development. From policies to funds, from the chief executive to the financial secretary, they have shown a very open attitude and fully supported the development of Web3 companies in Hong Kong. Hong Kong may use the power of Web3 to re-attract talent and capital back.
With its independent financial system and huge market demand in Asia, Hong Kong's Web3 industry can radiate from the Greater Bay Area to the whole of Asia and even the world, consolidating its status as an international financial center.
(3) Impact on cryptocurrency
During the 2023 Hong Kong Web3 Carnival, Bitcoin broke through $30,000 and Ethereum broke through $2,000.
According to data from CoinMarketCap from April 11 to 16, Bitcoin broke through $30,000 on April 11 and approached $31,000 on April 14; while Ethereum broke through $2,000 on April 13 and reached On the 14th, it reached a price of more than 2,100 US dollars.
In addition, the prices of most Hong Kong concept coins have risen a little. Some cryptocurrencies whose core businesses or teams are mainly in Hong Kong are called Hong Kong concept coins, including CFX (Conflux), COCOS (COCOS BCX), FIL(Filecoin), KEY (SelfKey), SAND (the Sandbox), QTUM(QTUM Blockchain ), ACH (Alchemy Pay), etc.
(4) Impact on investors
Web3 enthusiasts, entrepreneurs, and builders from all over the world gather in Hong Kong. For many people, this is a gathering of old friends. People attending the event can exchange ideas, network, share experiences, and learn about the latest blockchain technology and applications.
In addition, Chen Maobo, Financial Secretary of the Hong Kong Special Administrative Region Government, said in his speech at the opening ceremony that the premise of promoting the development of Web3 is not to damage the stability of the financial system and the protection of investors. The interests of Web3 investors have received the attention of the government.
(5) Impact on industry development
Before the meeting, the Web3 industry did not seem to see any good news, especially the US regulation has recently become more stringent on Web3, and the CFTC and SEC have begun to liquidate cryptocurrency exchanges, Stablecoin and encrypted assets. Singapore was hit hard after the FTX mine explosion, and its attitude towards Web3 has become more cautious and cautious.
Hong Kong’s move not only opens the door to the world, and a large amount of capital and talents will flow into Hong Kong, but also a reassurance to the world. The Hong Kong government’s strong support and financial support, and the strong rise of Cyberport will promote the rapid development of Web3 enterprises. .
The Future of Web3 in Hong Kong
During the carnival, a representative of the Hong Kong Securities Regulatory Commission made a speech and pointed out that DeFi projects need to be regulated by the Hong Kong Securities Regulatory Commission. The representative of the China Securities Regulatory Commission explained: "Because the China Securities Regulatory Commission found that some DeFi platforms are in the name of decentralization, but are actually controlled by core developers, the voting results of the platform's decentralized autonomous organization (DAO) are likely to be controlled by a small number of people. , causing investors to worry about their virtual assets.”
This undoubtedly makes everyone doubt, how is DeFi defined in Hong Kong? How will it develop in the future? More explanation from the SEC may be required.
Of course, this is just the beginning, and there are still many problems to be solved. At present, the relevant policies in Hong Kong are not enough to cover all aspects of encrypted assets, there are still many gaps, and there are only a few currencies that can be traded in Hong Kong.
After the conference, most people returned to their cities to continue polishing their products. It will take time to answer what inspiration they got from the Hong Kong conference and what Hong Kong retained through this conference.
The Asian market has always attracted global attention with its population base of nearly 4 billion. Hong Kong has long been one of the economic centers of Asia, with rich resources in industries such as finance, trade, and logistics. In 2019, affected by various factors, many Web3 companies chose to leave Hong Kong and move to Singapore and other places. With the gradual clarity of the current policy, many blockchain projects in the United States, Singapore, and Dubai will move their teams and headquarters to Hong Kong, which is a new opportunity for Hong Kong.
Author: Bowen@Web3CN.Pro
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