How Blockchain is Reshaping the Global Financial System
On the morning of October 20, 2024, Mr. Wu Jihan, Director of GPTX簡坤投資, Chairman of BitDeer, and Co-Founder & Chairman of Matrixport, along with Ms. Gao Ting, Founder & CEO of GPTX簡坤投資, were invited to participate in a high-profile sharing event jointly organized by the Joyful Running Group of the Chinese Financial Association of Hong Kong and Hong Kong Science and Technology Parks Corporation (HKSTP). The event was hosted by Mr. Zhai Pu, Executive Vice Chairman of the Chinese Financial Association of Hong Kong and a member of the HKSTP Board, who extended a warm welcome to the two guests and expressed his anticipation for their cutting-edge insights and reflections.
During the sharing session, Mr. Wu Jihan centered his discussion on blockchain technology, delving into how it has evolved into an asset class valued at $2 trillion and highlighting its potential as a value storage surpassing gold. He emphasized that blockchain provides decentralized infrastructure for registration, settlement, and trading globally, gradually transforming the landscape of the financial industry. Additionally, Mr. Wu shared the growing significance of cryptocurrency and precious metals, the potential risks in traditional equity markets, and the immense market potential of Real-World Assets (RWA). He particularly noted that Hong Kong, with its robust regulatory framework, sound legal system, and status as a global financial center, offers an exceptionally favorable environment for the development of Web3.0.
Ms. Gao Ting, from the perspective of asset management, discussed how licensed institutions can connect Web2.0 and Web3.0 compliantly, enabling Web2.0 clients to better access Web3.0 assets. She also explored the utilization of blockchain technology to enhance the trading and settlement efficiency of traditional assets, providing investors with more convenient and efficient asset management services.
The subsequent Q&A session further elevated the atmosphere of the event. The guests delved into various aspects such as Hong Kong's legal framework, geopolitics, international status, and demographic dividend, analyzing why an increasing number of cryptocurrency practitioners have chosen to return to Hong Kong recently. Furthermore, the prospects of RWA emerged as a focal point for many attendees. The guests believed that RWA starts with low-risk and stable assets such as stablecoins, US Treasuries, gold, and other precious metals, and will gradually expand into other asset classes, including real estate in prime locations and infrastructure, offering investors a broader range of investment options.
This event not only provided valuable insights and reflections for the attendees but also facilitated in-depth exchanges and cooperation among industry professionals. By jointly exploring the future trends of blockchain technology and its impact on the global financial system, the participants collectively explored the future direction of Hong Kong's Web3.0, contributing wisdom and strength to drive innovation and development in the financial industry.