Hong Kong – The seminar “The Convergence of Web3 and Finance: A New Era of Digital Economy” hosted by Bloomberg, UWEB and C² Ventures was held in Hong Kong on April 11th. The event dealt with the integration of Web3 and finance – and how it heralds a new era of the digital economy.
The keynote speakers at the event included Dr. Jianing Yu, Founder of UWEB, Ciara Sun, Founder and Managing Partner of C² Ventures, and Michael Elko, Bloomberg Head of Hong Kong Strategy Development. More than 10 guests from different fields such as traditional VC, crypto funds, DeFi, public chains, gaming, CEX, etc. engaged in in-depth discussions on bridging the gap between traditional finance and Web3, the opportunities and challenges of Hong Kong’s Web3 industry and construction of the Web3 ecosystem.
UWEB founder Dr. Jianing Yu analyzed “Trends and Opportunities of Next Wave Cycle Under Web3” and believes that “The next decade would be the golden decade for Web3 industry. From a technical point of view, the development of MR and AI technology is the driving force for the next stage of development. Only when all aspects are ready can we really push the development of the Web3 market. The entire industry structure is currently becoming clearer and clearer. But are we ready to welcome 1 billion users? I think we have the conditions ready.”
dr Jianing Yu also believes that “every wave of bull market requires four conditions: capital, talent, technology and users. In Hong Kong, we are exploring more opportunities, including HKD digital currency, RMB digital, the launch of Hong Kong Web3 Association, etc. As other countries’ capital channels are closed, Hong Kong becomes a ‘new opportunity’.”
“The trends and opportunities of the next wave cycle under Web3 need to be discussed with a wider audience and will definitely shape the future we will all live in,” added Dr. Jianing Yu added.
In a keynote address on “Hong Kong Investment Opportunities through Web3 VC”, Ciara Sun, Founder and Managing Partner of C² Ventures, shared her understanding of the opportunities in Hong Kong: “Hong Kong is very attractive for Web3 companies. First, Hong Kong has significant geographic advantages, and it is also the best place for seamless connection between cross-border time zones. Secondly, there are not many cultural conflicts in Hong Kong. Third, the benefits of the capital market are also very evident, and the entire diversified ecosystem has received strong regulatory support. Talents in Hong Kong are used to such a fast-paced environment, so this city has significant advantages in recruiting talent in emerging fields. ”
Ciara Sun also mentions that “Hong Kong’s political support is very attractive to innovative companies and Web3, attracting world-class entrepreneurs and companies to Hong Kong. This year we have also seen that regulation in Web3 is also more balanced. The whole ‘transformation’ not only benefits companies and investors, but also solidifies Hong Kong’s financial and technological innovation status.”
Arnoldo Concepción, Co-COO of Animoca Brands commented, “Hong Kong has many advantages when it comes to Web3 and it is an international hub with an English-speaking environment and the government is very supportive. Gaming is a very good entry into this industry. At the same time, we need to pay more attention to user experience and improve it. ”
There is currently a debate in the traditional finance industry and the Web3 industry on how to combine these two areas. Regarding this question, Arnoldo Concepción believes: “There are a few things that need to be considered. The tools you used to speak to an institutional audience are different, you have to use the right language. ”
An entrepreneurial veteran who was deeply involved in first and second generation Internet development and now actively embraces Web3, Bo Feng, Managing Partner of Dragonfly Capital, also shared his thoughts on Web3. “Everything is a network, you have to become a ‘user’. I don’t see us as investors, we are early “joiners” of the community. We need to think about how we can contribute to the community and have a builder mentality. Web 3 is about how we will exchange values in the future. Web 3 is about everyone. You have to decide whether you want to take part or not.”
The event also raised questions about NFT and the gaming industry. Bo Feng believes this is a global market that should be viewed much broader: “Everything revolves around crypto and NFT, there is no local market, it is always global. Gaming and NFT are the ones that bring users. Finance is just a small part of the population, gaming is the one that will save the internet.”
UWEB aims to enable 1 billion people to enter Web3. With a particular focus on Metaverse and Web3 education, UWEB is committed to building the most influential digital technology education platform in APAC through online education, world-class business education and Web3 incubation.
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