Dr. Xiao Feng, Chairman and CEO of HashKey Group: The next ten years will be the more exciting and explosive decade for

At the just concluded 10th Blockchain Global Summit, Dr. Xiao Feng, Chairman and CEO of HashKey Group, brought forward-looking insights. He believes that Web3 will enter the 1995 moment of the Internet starting in 2024. The so-called 1995 moment of the Internet is a watershed in the Entwicklung of the Internet industry. Before 1995, it was the stage of Internet infrastructure construction, and after 1995, the application represented by large Internet platforms ushered in a big explosion. The same is true for the blockchain industry. Before 2024, Web3 is in the construction stage of infrastructure such as blockchain technology, distributed ledgers, token economics, and smart contracts, and the next stage is the large-scale application stage. The next ten years will be a more exciting and explosive decade for blockchain and Web3.

In the financial field, in the next ten years, Web3 will build a new financial market system that is different from the current one. In the future, there will be two financial market systems coexisting in the world, one is the traditional financial market system based on bank accounts, and the other is the Krypto financial market system based on crypto accounts and tokens.

In Dr. Xiao Fengs closing speech Redefining Zeichens in the AGI Era, he further elaborated on the redefinition of Tokens in the era of artificial intelligence and its impact on the future economy. With the rapid development of technology, Tokens have transformed from simple trading tools to an important link between the real economy and the digital world. He attributed the transformation of Tokens to the three cognitive revolutions in human history, emphasized the key role of language, writing and computer code in the development of human society, and predicted that Tokens will become the core of the future digital economy. Tokens are not only the product of technological progress, but also a key tool to promote global economic integration and digital transformation.

Dr. Xiao Fengs speech not only depicted the upcoming golden decade of Web3, but also predicted the coexistence of two financial market systems in the future: traditional finance and token-based crypto finance. Such changes have provided unprecedented opportunities for HashKey Group, which began to lay out in the crypto asset industry as early as 6 years ago. Since its establishment in 2018, under the leadership of Dr. Xiao Feng, HashKey Group has entered the game to practEis its love and belief in Web3.

At present, HashKey Group has built an ecological map covering Hong Kong, Singapore, Japan, Bermuda and other places and the entire industry chain within a regulatory framework with high compliance standards. Especially in Hong Kong, members of HashKey Group have obtained all the required licenses of the Hong Kong Securities Regulatory Commission to provide virtual asset-related services in Hong Kong according to their respective business needs, becoming a Hong Kong virtual asset full-license unicorn, which can provide comprehensive virtual asset trading, investment consulting, virtual asset fund products and other services to institutional clients, professional investors and retail users.

HashKey Group firmly believes that Web3s move towards compliance is a historical necessity. The road to compliance not only requires huge economic investment, but also very large opportunity costs and temptations. However, HashKey Group has persisted all the way to the present, which is enough to prove the Unternehmens determination and perseverance in building the industrys Web3 compliance infrastructure. After 6 years of persistence, HashKey Group has also delivered a good answer to the compliance track.

Among them, HashKey Exchange, as the largest licensed virtual asset exchange in Hong Kong[1], has now ranked among the top 10 exchanges in the world. According to CoinGecko data on October 17, HashKey Exchange ranked in the top 8, with a total trading volume exceeding HK$538 billion and user assets exceeding HK$5 billion. Omnibus brokerage services have grown significantly, with a quarterly growth rate of 1272% and a trading volume of HK$3.3 billion. Its other licensed exchange HashKey Global has a contract position of US$32 million, surpassing Coinbase International in the global contract ranking[2].

In addition to the worlds leading virtual asset trading services, HashKey Group has begun to lay out the primary market, that is, the issuance market, since last year. Its tokenization service agency HashKey Tokenisation has cooperated with HashKey Cloud, a leading provider of Web3 infrastructure, to tokenize high-quality assets, create liquidity for Web2 and Web3 projects at all stages, and provide unique assets for compliant exchanges, successfully becoming a bridge connecting the real economy, supporting innovative technology, and helping the construction of financial markets. Currently, HashKey Tokenisation has participated in the Hong Kong Monetary Authoritys Ensemble project to help promote the development of Hong Kongs tokenization market.

As the technical support of HashKey Group, HashKey Cloud is committed to providing professional, stable and secure blockchain services to global customers. Its node verification services cover more than 80 mainstream public chains, and its asset management scale reaches 1.2 million (calculated in Ethereum). Facing the upcoming application explosion, HashKey Cloud is also laying out new product lines including Restaking, Bitcoin node verification, Ethereum Layer 2 and STO Infra.

In addition, HashKey Capital, one of HashKeys most influential businesses, has also made moves many times this year, investing in more than 45 new projects, including leading projects such as Babylon, Berachain Particle Network, further consolidating its leading position in the blockchain and digital assets field. HashKey Capital also won the Singapore SME 500 Award in recognition of its operational excellence and innovation in the field of digital assets. HashKey OTC has been officially approved by the Monetary Authority of Singapore as a major payment institution license, providing customers with regulated digital payment token (DPT) trading services. As a pioneer in financial innovation, HashKey has also successfully launched the Boshi HashKey Bitcoin and Ethereum spot ETFs on the Hong Kong Stock Exchange, and innovatively introduced the worlds first holding currency subscription and redemption mechanism.

This year, HashKey Group has accurately grasped industry opportunities and rapidly expanded its Web3 native business. HashKeys ecological platform currency HSK has reached cooperation with more than 60 top communities, and the first phase has distributed airdrops to 7.2 million active high-quality community users. The official airdrop channel, the Tap-to-Earn mini-game Big Golden Dog, has 7.5 million game users since its launch.

It is worth noting that HashKey Group disclosed that it will start the public beta of its L2 public chain HashKey Chain in the fourth quarter, and the main network is expected to be launched within the year. HashKey Chain will become the most important carrier for integrating the value of the entire HashKey ecosystem. By creating a compliant, friendly and innovative environment, it will provide a reliable on-chain ecosystem for traditional financial institutions and high-quality project parties, and provide full-ecological Web3 services for global users. At present, HashKey Chain plans to build a financial infrastructure that connects Web2 and Web3 and a full-stack Web3 solution with BTCFi, Payfi, Stablecoin, RWA, DePIN and other tracks as the main line, which not only reflects the unique competitive advantages of HashKey Chain, but also highlights the mission and determination of HashKey Group as an industry pioneer.

Facing the explosive growth in the next decade, with the establishment of a new financial market system and the renewal of the traditional financial system, HashKey Group will continue to use blockchain technology to build an open encrypted financial infrastructure, continuously promote the integration and progress of Web3 and traditional financial markets, and provide reliable virtual asset services to one billion users around the world, making virtual assets within reach.

[1] As of October 17, according to the latest data from Coingecko, HashKey Exchange ranked among the top 8 global exchanges and is the highest-ranked licensed virtual asset exchange in Hong Kong.

[2] Data source: Coingecko and CoinMarketCap rankings as of September 6

Disclaimer

This article is sourced from the internet: Dr. Xiao Feng, Chairman and CEO of HashKey Group: The next ten years will be the more exciting and explosive decade for Web3

Related: dappOS: An Intention Execution Network Backed by Top Institutions

Original article by Lawrence Lee, Research Fellow at Mint Ventures Since the development of the crypto economy, the infrastructure on the chain has been gradually improved, but the user experience is still in its infancy. After the user operation experience is improved, it is expected to attract more users to enter the chain ecosystem, which in turn promotes the further development of infrastructure and the enrichment of business forms, forming a ladder cloud effect of stepping on the left foot and the right foot. The 1995 moment of cryptocurrencies may depend on the emergence of a user-oriented killer application or operating system. The intention track is committed to this, changing the current on-chain operation logic of assuming that users are experts to assuming that users are novices, hiding the complex…