[This article is provided by a partner]
The Blockchain industry in 2023 has gone through ups and downs, but it has also gradually accumulated the energy to explode, and then welcomed the new high point of Bit in the fourth quarter of 2024, with the industry pulse and market atmosphere being quite hot. The "2024 Taiwan Blockchain Industry Key Report and Ecosystem Map" co-hosted by the Bit and Virtual Currency Development Association, co-organized by HOYA BIT, BSTYLE, KryptoGO and Starbit, was jointly released today (23rd), revealing the latest changes in Taiwan's Blockchain industry.
Liang Hongyu, Chairman of the Bit and Virtual Currency Development Association, pointed out that with the rapid growth of the decentralized finance service market, "compliance and security regulation" and "commodity experience optimization" have become two important key trends this year. The regulatory authorities of various countries are paying more and more attention to the security and stability of virtual assets, and the US Securities and Exchange Commission (SEC) officially approved the launch of the Bit spot ETF in January 2024, indicating that Bit has become a commodity rather than a security. The Bit spot ETF "IBIT" issued by the world's largest asset management company BlackRock reached a holding scale of $20 billion in only 137 days, becoming the fastest growing ETF product in history. These signs all indicate that Bit and virtual assets are on the path to normalization, and Taiwan is also closely following this trend, such as the establishment of the Virtual Currency Business Association and the opening of ETF sub-entrustment, which are indicative actions. Therefore, this year's report has added a special chapter on Bit, discussing the necessity of Bit for the overall society from a broader perspective.
The first chapter of this report points out that cryptocurrencies are gradually becoming one of the investment options accepted by the mainstream public globally, and Taiwan is no exception, and it also perceives the difference in trust in international exchanges and the awareness of compliance with domestic exchanges.
The second chapter of the report discusses the current status of CeFi and DeFi in Taiwan. Due to a series of events in centralized exchanges from 2022 to 2023, it was found that even after the previous DeFi craze, the field is still growing continuously as users hope to have more comprehensive control over digital assets. At the same time, the custody, wallet and payment industries are also growing continuously in Taiwan, and they are trying to cooperate with third-party payment providers to create a more user-friendly and convenient interface to attract users and increase the user base in the Web3 field.
The Blockchain ecosystem is also paying more and more attention to information security issues. Recently, due to the rapid development of the overall industry, the number of fraud cases involving virtual assets has increased significantly, and new types of fraud methods and the use of emerging financial technologies to carry out illegal transactions and exchanges have also been observed. In addition to introducing the relevant background and common methods of fraud, the report also points out the development and importance of digital security and digital trust-related technologies.
The third chapter of the report returns to Bit. In the gradually unstable global situation, capital is beginning to seek reliable asset forms as a dependence. The last chapter of the report studies the relationship between Bit and Taiwan, discussing the possible necessity and importance of Bit for national security, economy and other aspects, and proposes a mutually dependent relationship between Taiwan and Bit in the future era of quantitative easing and widespread inflation.
As the times continue to be turbulent, Blockchain technology has not slowed down its development, and as a country full of innovation and technology, Taiwan cannot be absent from this Blockchain trend. Through the release of the "2024 Taiwan Blockchain Industry Key Report and Ecosystem Map", it is hoped that by analyzing the current situation, a future situation assessment can be provided to promote Taiwan to become a global Blockchain development hub.
The "2024 Taiwan Blockchain Industry Key Report and Ecosystem Map" is now online
Welcome to download it from the "Bit and Virtual Currency Development Association" official website
〈The "2024 Taiwan Blockchain Industry Ecosystem Map" is released! Back to Bit, re-examine the current situation of Taiwan's Blockchain industry〉 This article was first published on《NONE LAND》.
