This article was written by Deng Weizheng, the current CEO of Binance, and has nothing to do with Dongzhong’s position.
Taiwan enjoys the reputation of an island of science and technology. I recently had the opportunity to visit Taiwan and had the honor to meet and communicate with some representatives of industry, government and academia. I talked about the prospects and opportunities of the future Web3 industry in Taiwan, and discussed the potential of all walks of life in this global Web3 wave. How we can work together to create new value and jointly address the challenges posed by emerging technologies.
This year, the world is ushering in a new wave of Web 3 enthusiasm, making the long-dormant encryption market once again become the focus. With the help of the U.S. SEC through the Bitcoin spot ETF, a large number of traditional institutional investors have been attracted to invest in the encryption market. And under the influence of the expectation of Bitcoin halving, not only the price of Bitcoin has reached a record high, but it has also driven the performance of the overall encryption market. .
Coincidentally, the continued heating up of the topic of AI has also caused the market value of technology giants such as Nvidia to rise steadily. According to statistics, the market value of Huida alone is close to the total value of the encryption market, but this also shows that the encryption market has greater room for growth in the future.
The passage of the Bitcoin Spot ETF not only brings new vitality to the crypto market, but the more important meaning behind it is that it represents a new era of popularization and compliance for crypto assets as a whole, and may have a more profound impact on the future global financial landscape. Influence.
Under this circumstance, being able to embrace the financial innovation brought about by the Web3 era as early as possible and be prepared for it will become the key to gaining an advantage in this wave.
As one of the important economies in Asia, Taiwan has many competitive advantages in developing the Web3 industry.
In terms of talent and environment , Taiwan has profound high-tech strength, and one of the important pillars behind it is the professional engineering and design talent pool. At the same time, the popularity of the Internet and the high degree of digitization have also cultivated a natural and mature talent pool. The Web3 community and Generation Z are not only highly receptive to new things, but also independent in thinking and unwilling to be constrained by the limitations of traditional frameworks. In addition, the open and diverse environment of Taiwanese society is undoubtedly the best fertile ground for nurturing innovation. From my experience of visiting Taiwan many times in the past, I have very deep feelings.
In terms of important industrial supervision , Taiwan's regulatory framework has gradually matured and become more complete under the guidance of the competent authority, the Financial Supervisory Commission, providing a certain degree of clarity to the industry. It is worth mentioning that the Taiwanese government’s future policy vision also mentions the ambitious goal of accelerating financial technology innovation and expanding inclusive finance. Blockchain is also one of the key technologies. All of this demonstrates the Taiwanese government’s commitment to the industry. Pay attention to.
As a former financial regulator, I strongly agree that compliance is crucial to the long-term and stable development of an industry, but I also know that in addition to risk management, industry development must also complement each other, including encouraging innovation, attracting Foreign investment and outstanding talents are stationed to create a win-win situation.
Having said that, as an emerging technology, it cannot be denied that the industry still has many challenges or pain points that need to be overcome, including lowering the technical threshold and expanding application scenarios, so that the general public can enter this field more easily; on the other hand, the industry also needs to closely Cooperate with supervision and law enforcement agencies in various countries to assist in establishing supervision frameworks and combating crime, and promote responsible and sustainable development of the industry.
"The road ahead is long, but the journey is coming." I firmly believe that the inclusive finance that we want to achieve in the Web3 era will eventually come, and more people around the world will be able to benefit from it. In Taiwan, I believe that through cooperation between the government and Web3 companies, Taiwan has the opportunity to replicate its success story in the semiconductor industry in this field, occupy a place on the global Web3 stage, and become a veritable Web3 technology island.
For Binance, as I promised when I participated in Taipei Blockchain Week last year, we will continue to cooperate with Taiwan’s communities, industry participants, and even government agencies to work together to build a prosperous Web3 ecosystem.
