Recap of the ‘Web3.0: Digital Revolution of the Real Economy’ Event Successfully Held at HKUST
On the afternoon of April 9th, the “Web3.0: Digital Revolution of the Real Economy” event was successfully held at the Hong Kong University of Science and Technology. This event was co-hosted by the Hong Kong Science and Technology Youth Federation, Uptick Network, and the HKUST Crypto-Fintech Lab. It was also co-organized by the Institute of Web 3.0 Hong Kong and Blockchain Academy, with InvestHK serving as a special support unit.
The event focused on the theme of integrating Web3.0 with the real economy, covering aspects from an academic perspective to infrastructure development, and sharing industry practices, to collaboratively explore the opportunities and challenges. It offered unique and insightful discussions to nearly a hundred attendees from around the world.
At the beginning of the event, President Hu Shenglong of the Hong Kong Science and Technology Youth Federation delivered a speech, highlighting the significant potential of Web3.0 for industries such as financial services, healthcare, and the green dual carbon economy. By integrating with artificial intelligence, and utilizing smart contracts and decentralized technology, Web3.0 can achieve more efficient automated processes, enhancing productivity and efficiency.
Hong Kong needs to formulate corresponding policies to attract more businesses and entrepreneurs to participate in the Web3.0 revolution. We should also build better infrastructure, provide more support and resources, and promote cross-border cooperation to enrich the Web3.0 ecosystem and establish Hong Kong’s leadership position in the Web3.0 field.
Subsequently, Professor Wang Yang, Vice President of HKUST, delivered a keynote speech on “The Impact and Opportunities of Web3.0 on the Real Economy.” Professor Wang believes that Web3.0 can empower niche individuals, offering opportunities for everyone to create and derive value. The true future of Web3.0 lies in its integration with the real economy, where moving assets on-chain has become an unstoppable trend. Through examples, Professor Wang illustrated that Real-World Assets (RWA) play a crucial role in ensuring fairness in global cooperative settlements. He also believes that by actively developing RWA, Hong Kong possesses both the capability and the opportunity to become a leader in the Web3.0 arena.
Brian Xin, the founder of Uptick Network, shared profound insights on “Building a Sustainable Web3.0 Infrastructure and Ecosystem.” He outlined the opportunities and challenges of Web3.0, expressing belief that as the underlying technology matures, an increasing number of traditional enterprises will transition to Web3.0. These transformations and developments are inseparable from an open and interoperable foundational infrastructure. During the construction of business-level infrastructure, it’s essential to promote the development of infrastructure based on application ecology and industry needs, to prevent any disconnection with higher-level ecological applications.
Subsequently, Brian used the decentralized modular infrastructure developed by Uptick Network as an example to introduce its layered structure design and characteristics, demonstrating its advanced multi-chain and cross-chain capabilities. By taking creator royalties, music leasing, e-ticketing, the sharing economy, and health and sports data management as examples, he explained how different NFT standards have segmented application scenarios and business prospects across various vertical industries.
Finally, Brian also emphasized that the shift of enterprises towards Web3.0 is not merely an upgrade at the IT level, but more significantly, a transformation in mindset and business models. He highlighted the importance of having the courage to dive in, understand, and learn about Web3.0 technology, and to collaborate in building a Web3.0 ecosystem, despite it still being in the early stages of development.
During the roundtable forum, Professor Lei Zhibin, Secretary General of the Institute of Web 3.0 Hong Kong, Liu Haoyu, Operations Manager of the HKUST Crypto-Fintech Lab and founder of Blockchain Academy, Yuan Yuming, CEO of HuoChain Technology, Harriet Cao, Founder of Blockbeat HK, and TraditioNow CEO Mi Cheng engaged in a dynamic discussion on the theme of ‘The Implementation and Challenges of Web3.0 in the Real Economy’. Several guests shared their reasons for choosing Hong Kong as the landing site for implementing Web3.0 in the real economy, the supportive policies and environment provided by Hong Kong, and strategies to address the opportunities and challenges currently faced.
The event came to a successful conclusion, highlighted by deeply engaging and practical discussions that were met with considerable enthusiasm from the participants. These conversations proved to be highly beneficial, offering substantial insights and strategies for advancing the adoption of Web3.0 technologies in Hong Kong. This focus on practical applications and solutions provided a valuable platform for local innovators and stakeholders to explore how these technologies can drive progress and efficiency in various sectors across the region.
By establishing extensive partnerships with the international academic and industrial communities, Uptick Network is accelerating its ecosystem development. Empowering the real economy through Uptick’s Web3 Infrastructure is one of its crucial strategic steps. This enhances both the practicality and innovation of its technology while bringing new transformation opportunities to traditional industries.
Uptick Network is building business-grade NFT infrastructure and ecosystems for Web 3.0; redefining how value is created on the internet.
The interoperable multi-chain platform is built on Cosmos SDK and powered by IBC, EVM and more, enabling a wide range of innovative applications that leverage the unique properties of NFTs.
There are three major components to the Uptick Network: Web3 Infrastructure, Web3 Marketplace, and Web3 Ecosystem applications.
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