Driven by the Hong Kong government's proactive policies and industry support, as a financial center in Asia and a new window to the virtual asset, Hong Kong is unlocking tremendous appeal and potential. More and more Web3 practitioners are focusing on Hong Kong to discover more opportunities in this emerging Web3 place. At the same time, Hong Kong is in dire need of more quality Web3 organizations to take root and contribute to the development of Web3 in Hong Kong. With the hot atmosphere of Hong Kong Web3 Festival, the fire of Web3 in Hong Kong is being ignited.
On the evening of April 11th, the Web3 reception Make Web3 Pop in HK hosted by Blocklike, co-hosted by HotCoin, YeeVerse and Jasmy was successfully held in Hong Kong. A number of popular projects, leading VCs, high-quality developer teams in HK and other regions of Asia, gathered at the reception to talk about the development trend of Web3 in HK, share and exchange business plans, and explore opportunities for in-depth cooperation., was successfully held in Hong Kong.
On the event, HotCoin, YeeVerse and Jasmy respectively gave keynote speeches on the compliance and development prospects of crypto finance in Hong Kong.
HotCoin is a global one-stop crypto asset trading platform. According to Hebe, CMO of HotCoin, as the entrance to the crypto world for most users today, CEX is, in a sense, an educator and a very important part of Web3.
The collapse of the centralized institutions led by FTX last year has plunged the whole industry, especially the CEX track, into a crisis of trust, so the future development of CEX will revolve around consolidating trust. To ensure the rights of users, HotCoin will be transparent, regulate its own operations, and maintain and update its technology, so as to eliminate the damage to users' interests caused by subjective and objective factors.
In the future, HotCoin will continue to build for the further development of CEX, provide better services to users and work hard to rebuild the confidence of the industry in CEX. At the same time, Hotcoin announced the establishment of a $15 million fund to support early-stage projects in the Web3 and DeFi ecosystems during the reception.
YeeVerse is a one-stop Web 3.0 transaction service provider incubated by YeePay, and YeePay is one of the first third-party payment institutions in China to obtain the Payment Business License issued by the People's Bank of China. Yu Chen, the co-founder and president of YeePay, shared his views on the topic of "How to explore compliant Web 3.0 payments and cross-border industry while grasping the advantages of traditional financial payments".
Analyzing from the data perspective, Yu Chen said that both the demand side and the regulatory side point to the need for the payment industry to transform into a faster, safer and more compliant clearing system. Therefore, Web 3.0 payments may be the best track for companies in the traditional payment field, including YeePay, to find new growth and secure their existing market share.
As an early Web2 company that embraced the Web3 wave and has been in operation for two decades, YeePay is committed to becoming the leading digital transaction service provider, expanding enterprise customer service based on compliance, and supporting the financial and marketing system of Web 3.0 payment customers in a one-stop shop.
Jasmy is an innovative Japanese company founded by a former Sony executive, and Jasmy CFO HARA shared his views on the product, technology, goals, and practical applications, etc. According to Hara, Jasmy was born to democratize data because of the current problems of monopoly value, misuse of personal information, and fake news on social platforms.
Currently, Jasmy has two core technologies, Secure Knowledge Communicator, a KYC technology, and Smart Guardian, a device management technology that will understand device information and control its behavior in real time. By combining these two technologies, Hara said, users will not only be able to own their own data, but they can also implement blockchain into IoT.
Jasmy has launched several services based on these two technologies that are already being used in some way, and Jasmy has also entered into a partnership and joint venture with computer technology company NEXSTGO. Next Jasmy plans to develop the world's first blockchain computer and strive to achieve PC security. At the same time, Jasmy will cooperate with many parties, centering on Hong Kong, to further develop Jasmy and make Jasmy's technology available in a wider range of fields.
After the tough year of 2022 for crypto, the market is rejuvenating with continued hot spots and new trends that are driving the industry in a more positive direction. There are many opportunities and challenges in the Web3 market today, from the rise of the LSD track to the popularity of ZKP technology and Layer 2, new technologies and narratives continue to be the focus of the market. For Web3 builders, 2023 is a critical year for building and learning. So from Hong Kong, it remains a priority to seize the opportunity to keep building until the next cycle arrives.
Zach Pandl, the research director at Grayscale, suggests that investor interest in BTC is likely to persist, especially with the ongoing high expenditure and a longer, higher interest rate policy prevailing in the U.S. government.
AlexDespite a brief surge following last week's Bitcoin halving, the cryptocurrency market experienced a downturn in the latter half of this week. Low trading volume has characterized the post-halving period. Among major altcoins, Ethereum attempted a rebound, nearing $3200, but without a significant reversal; Solana faces a similar situation, struggling to break the $150 resistance; Ripple has been particularly volatile amid ongoing litigation with the SEC.
MiyukiThe company cautioned that a potential reversal by the SEC of its stance, maintained since 2018, regarding Ether's classification as a security, could have dire consequences for the network, potentially stifling innovation within the US.
CatherineThe US retirement fund GRP has disclosed that it holds investment exposure in 7 Bitcoin spot ETFs.
WeiliangThe sale of an "epic sat" during Bitcoin's fourth halving event for $2.13 million marks the growing value of unique digital assets in the cryptocurrency ecosystem. With Bitcoin's inflation rate now lower than gold's, it solidifies its status as a rare and coveted store of value in the digital realm.
JoyStripe plans to reintroduce cryptocurrency transactions, focusing on improved user experiences and functionality, with a new fiat-to-crypto feature for Web3 companies by summer's end.
AlexThe team has refuted allegations of generating excessive false positives, asserting instead that its efficacy was so pronounced that it led to the cessation of a crypto drainer due to sheer frustration.
KikyoA new U.S. stablecoin bill heavily favors banks, potentially leading to a ban on the world's largest dollar stablecoin, USDT.
MiyukiThe U.S. Department of Justice has arrested and charged two co-founders of the coin mixer Samourai Wallet, with Edward Snowden criticizing the move as a violation of financial privacy.
WeiliangThailand's SEC is tightening rules against unlicensed crypto platforms, echoing similar actions in other Asian countries like the Philippines and India, while Binance faces regulatory challenges across the region.
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