CESS was invited to attend the first council meeting of the Hong Kong Web3.0 Standardization Association to discuss the future of the industry

On April 5, 2024, CESS, as a vice council member of the Hong Kong Web3.0 Standardization Association, attended the first council meeting of the year in Hong Kong. This meeting brought together well-known companies and experts from various fields (see the list of representatives at the end of the document) to discuss and promote the standardization process in the Web3.0 domain.

The council meeting was hosted by OKC Holdings Limited, with the association's executive president, Li Ming, presiding over the meeting. Members, including CESS (Cumulus Encrypted Storage System), discussed the development of Web3.0 in Hong Kong and received suggestions from members of the association's advisory committee. Key topics included industry directions such as Depin and RWA, as well as in-depth discussions on green finance, GameFi, and other fields.

Following the approval of the decentralized storage industry standard proposal, CESS continues to contribute to the standardization of the Web3.0 industry

In a data-driven future, CESS, as a blockchain-based decentralized cloud storage and content delivery network (CDN), supports large-scale commercial storage and provides a full-stack solution for high-frequency dynamic data storage and retrieval in Web3. CESS pioneered decentralized object storage services (DeOSS), achieving decentralized data services for Web3 with the powerful performance of Web2 through significant technical strength and innovative services.

CESS's participation in the first council meeting of the Hong Kong Web3.0 Standardization Association in 2024 not only demonstrates our deep involvement and contribution to the standardization process in the Web3.0 field but also highlights our key role in promoting the development of decentralized storage technology and networks. Through the successful promotion of the IEEE P3233 “Decentralized Storage Protocol Specification Based on Blockchain” proposal, CESS has demonstrated its leading position and innovative strength in decentralized storage technology. This achievement not only reflects CESS's technological innovation and leadership but also serves as an important impetus for the decentralized storage industry to move towards a more standardized and regulated development path. Through such platforms and activities, CESS is committed to collaborating with industry peers to discuss and formulate industry standards, promote the healthy development of the Web3.0 ecosystem, and provide global users with safer, more reliable, and efficient decentralized data services.

Hong Kong Web3.0 Standardization Association: Promoting Industry Standards and Shaping Future Development

Web3 needs standardization because it ensures seamless interaction and collaboration between different blockchain technologies and applications, which is crucial for creating a decentralized and interoperable digital ecosystem. Standardization helps improve development efficiency, reduce compatibility issues, foster innovation, and ensure user safety and data privacy. It also provides clear guidelines for developers and offers users a more consistent and reliable experience, thereby promoting the healthy development and expansion of the entire industry.

Therefore, the establishment and development of the Hong Kong Web3.0 Standardization Association is of milestone significance for the entire industry. The association is dedicated to establishing industry standards, promoting the standardized development of technological innovation and applications, and providing a solid foundation for the healthy growth of the blockchain and Web3.0 ecosystem. By gathering forces from all sides, the association promotes knowledge sharing, technical exchange, and cooperation opportunities, further accelerating the global adoption and application of Web3.0 technology, and having a profound impact on the transformation and upgrading of the digital economy.

As a member, CESS will continue to uphold the spirit of innovation, promote the development of decentralized cloud storage and CDN technology, and work together with various parties within the association to contribute to building a more open, fair, and secure Web3.0 ecosystem, creating a fair, open, and interconnected data value network.

The following is excerpted from the article published by "Web3.0 Standardization" titled “The First Council Meeting of the Hong Kong Web3.0 Standardization Association in 2024 Successfully Held!”, with the original text as follows:

The Hong Kong Web3.0 Standardization Association (hereinafter referred to as the "Association") held its first council meeting of 2024 on April 5, 2024, in Hong Kong. The meeting was presided over by the association's executive president, Li Ming, and hosted by OKC Holdings Limited. A representative from the association's advisory committee, Legislative Council member Yau Tak-kwong, introduced the development of Web3.0 in Hong Kong and provided specific suggestions for the association's work. A representative from the advisory committee, Ren Yunan, chairman of the board of OKC Holdings Limited, introduced the business system of OKC Holdings and offered constructive ideas for the association's development. Li Ming introduced the association's vision, charter, organizational structure, and work ideas. The association's vice president, Che Pin-jue, a member of the Hong Kong SAR Government's Digital Economy Development Committee, suggested that the association should provide more advice and technical support for the Hong Kong government in developing Web3.0. The association's vice president, Du Yu, deputy general manager of Wanxiang Blockchain, elaborated that standards need to focus on the industry's development situation and solve practical problems. Members of the association's council and external representatives (the list is attached) discussed key work directions such as Depin, RWA, exchanges, and stablecoins, and conducted in-depth discussions on key areas such as green finance, GameFi, DeFi, and RFi. In the next steps, the association will organize council member representatives to further discuss the work tasks for 2024, clarify the main content of the white paper and standard deliverables, and accelerate the standardization research in hot areas. At the same time, the association will strengthen communication with various relevant departments of the Hong Kong government and actively contact international standardization organizations to support the high-quality development of the Hong Kong Web3.0 industry based on standards.