Solana Foundation President Envisions Global Internet Capital Markets

Lily Liu, President of the Solana Foundation, delivered a keynote speech at the 2026 Hong Kong Web3 Carnival. According to ChainCatcher, Liu highlighted the disparity in global capital formation, noting that while production, users, and resources are globally distributed, capital markets are not. She pointed out that 20 stock exchanges in just 14 countries account for 94% of the global market capitalization, approximately $145 trillion, with two-thirds concentrated in the United States. This leaves around 180 countries with limited access to capital markets, relying on debt rather than equity financing. Liu proposed a vision for 'Internet Capital Markets,' where assets from any location can raise capital globally, priced in dollars and settled on open platforms. She emphasized the role of stablecoins as essential infrastructure for this vision, enabling any country to participate in the global financial system, with Solana providing the underlying settlement and execution layers. Additionally, Liu contrasted 'Universal Basic Ownership' (UBO) with the widely discussed 'Universal Basic Income' (UBI) in the AI era. She argued that blockchain technology allows anyone with a smartphone to own a part of their national economy, representing a fundamental property right in the digital age, without resorting to welfare systems.