ChainCatcher news, during the main event "The Future of Tokenization" at the 2023 Hong Kong Web3 Carnival, Xiao Feng, Chairman of Wanxiang Blockchain and HashKey Group, delivered a closing keynote speech titled "The Three-Token Model of Web3 Applications." He stated that the applications of Web3 will inevitably meet various demands. The token model at the application layer of Web3 is different from that of the underlying protocol. The underlying protocol is a single-token model that should be unified globally, while the application protocol is a three-token model, with each application scenario having its own characteristics. In the three-token model, the first is NFT (value of data, products, and services), the second is functional Token (value of usage rights), and the third is security Token (value of ownership, which is equity value).

ChainCatcher news, at the 2023 Hong Kong Web3 Carnival themed forum "Tokenized Future," Zhou Chuanwei, Chief Economist of Wanxiang Blockchain, delivered a keynote speech on the Web3 new economy and tokenization. In his speech, he announced that Wanxiang Blockchain will release the white paper "Web3 Economy and Tokenized Future" today. The white paper will delve into the underlying logic and evolutionary trends of Web3, discussing the prospects of tokenizing all values and exploring issues related to monetary policy and mechanism design in token economics.In his speech, Zhou Chuanwei stated that the new development center in the Web3 new economy over the next 15 years will be Web3 applications, and the scope of tokenization will expand, with all values being tokenizable. The four main methods of tokenization include: tokens representing usage rights, NFTs representing identity and capability proofs, tokens representing off-chain value, and tokens representing revenue rights. The real value of tokens has five aspects, including token issuance, token usage rights, token circulation, token equity attributes, and token governance attributes.

ChainCatcher news, Wade Wang, founder and CEO of Safeheron, delivered a keynote speech titled "Safeheron: Industry-Leading Enterprise-Level MPC Self-Custody Solution" at the "Web3 and Security" sub-forum of the 2023 Hong Kong Web3 Carnival, and participated in a roundtable discussion with guests on "Asset and Privacy Security."During the keynote, Wade Wang announced that Safeheron is officially open-sourcing multiple MPC-ECDSA protocols, including GG18 and GG20, as well as the renowned CMP protocol. This marks Safeheron's second open-source initiative on underlying algorithms following the open-sourcing of TSS-RSA, and it will continue to promote the open-sourcing of more core code. At the same time, Safeheron is collaborating with the security teams of SlowMist and Amber Group, as well as the research team of PlatON, to advance the construction of open-source libraries and communities.The open-sourced protocol library not only supports the Secp256k1 curve but also various elliptic curves, such as the STARK curve used by StarkEx and StarkNet. Therefore, MPC wallets designed based on the Safeheron open-source library can also protect private keys more securely and manage assets efficiently in StarkEx scenarios, alleviating concerns for enterprises regarding internal and external malicious activities. Additionally, the community can customize different solutions based on this open-source protocol.

ChainCatcher message, at the 2023 Hong Kong Web3 Carnival cross-chain session, Poly Network ecological core contributor Luke Liu believes that "establishing a unified cross-chain security model helps us systematically understand interoperability risks.The goal of cross-chain is to standardize the communication process, ensuring that requests on one chain are executed correctly and smoothly on another chain.Each chain is different, but we strive to establish a unified risk model that includes three aspects: data requests, communication, and verification. Through mathematical (model) abstraction, multi-chain interoperability in blockchain systems involves the collaboration of different layers such as applications, communication, and consensus. This set of combinatorial interaction systems relies on the security of each component and also tests the security of interactions between components.Establishing such a (security) framework can help us understand interoperability risks more systematically, rather than inductively based on individual cases.Security audit techniques often determine whether all necessary security elements for a project are covered based on a checklist, which also includes automated execution of security analysis. Based on existing security audit techniques, business logic and security attributes can be further mathematized, serving the project more explicitly.Poly Network is also building a simpler and safer programming model to facilitate the development of multi-chain applications."

ChainCatcher news, at the sub-forum "MetaEra x BitMart Special: Where Are the Opportunities in the Metaverse" of the "2023 Hong Kong Web3 Carnival," Mr. Huang Junlong, CEO of Hong Kong Web3Hub, delivered a speech stating, "We will launch a $100 million Web3 ecosystem fund, based in Hong Kong, to invest in quality projects globally, and will also promote the development of global Web3 standards."In addition, in the previously announced $10 million Hong Kong Web3Hub ecosystem accelerator, $1 million will be invested in the first phase to support entrepreneurs, with the application period open from April 14 to May 14. In the past two months, 350 Web3 companies have registered in Hong Kong, and there are already 100 strategic partners, expected to create over 1,000 job opportunities.The inauguration ceremony was witnessed by guests including Mr. Zhang Guojun, Deputy Secretary for Justice of Hong Kong, Legislative Council member Mr. Wu Jiezhuang, CEO of Hong Kong Web3 Hub Fund Mr. Huang Junlong, Legislative Council member Mr. Chen Zhenying, Legislative Council member Ms. Ge Peifan, Legislative Council member Mr. Huang Jinhui, Legislative Council member Mr. Huo Qigang, CEO of Hong Kong Science Park Mr. Huang Keqiang, Web3Hub Managing Partner YT Tsoi, Nano Labs Founder Mr. Kong Jianping, BitMart Founder and CEO Mr. Sheldon, and MultiChain Co-Founder Mr. Alfred Xu.

ChainCatcher news, Bitget was invited to participate in the 2023 Hong Kong Web3 Carnival. Bitget's Asset Management Director Zero CHU shared insights during the roundtable discussion on "Staking Economics and Regulation." He pointed out that the POS mechanism of ETH and its immense liquidity will attract investment institutions and family offices to invest in and stake ETH.With the emergence of projects that lower the barriers to staking and new LST gun pools, it is believed that the staking track will spark a new wave of innovation and momentum. The regulation by the U.S. Securities and Exchange Commission does not mean that the crypto community will fall into a passive situation; rather, it will promote communication. Bitget is committed to building its own compliance team to advance licensing matters and is currently actively applying for licenses in places like Hong Kong, while also engaging in proactive communication with regulators. (source link)

ChainCatcher news, during the "CeFi Future, Starting Now" roundtable discussion at the 2023 Hong Kong Web3 Carnival, Binance founder Changpeng Zhao stated that CeFi trading platforms can also be very transparent, with good proof of reserves verified on the blockchain. Binance has been doing this, while FTX wanted to do this but did not make it public. CeFi institutions can be more transparent than traditional financial service providers.

ChainCatcher news, at the Web3 Hong Kong Carnival summit held today, the Acting Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, Chan Ho-lam, stated that since Hong Kong launched relevant policies last year, various types of Web3 companies, including virtual asset exchanges, virtual asset cybersecurity companies, virtual asset wallets, and payment institutions, have decided to establish their international headquarters or expand their operations in Hong Kong. Hong Kong will implement a licensing system for virtual asset exchanges in June this year and has issued tokenized government green bonds in February this year.In addition, the Hong Kong budget announced a funding allocation of 50 million HKD to promote industry development. To attract and cultivate relevant talent in the industry, a brokerage student fintech internship program will be launched to allow more outstanding talent to dedicate themselves to the fintech industry in the future.

ChainCatcher news, at the 2023 Hong Kong Web3 Carnival event, Zhao Deli, Director of the Basic Vision Team at Alibaba DAMO Academy, delivered a keynote speech stating that future trends in the AI industry include the continued deepening of vertical industry AI algorithms, the emergence of open-source platforms (like the ModelScope model launched by DAMO Academy), and the unification of underlying algorithms.The roadmap of the ModelScope model launched by DAMO Academy has gone through three stages in Text-to-Image: Foundation Models (Composer 1.0), Customized Generation, and Controllable Generation (Composer 2.0). This year, ControlNet, Composer 2.0, and T2I-Adapter have been released.In addition, Zhao Deli stated that the "Tongyi Wansxiang" product built on Alibaba Cloud will be opened at the end of the month.

ChainCatcher news, during the "Fundamentals of Stablecoins" roundtable discussion at the 2023 Hong Kong Web3 Carnival, Circle's Vice President of Product Joao Reginatto stated that USDC is a very powerful product that provides a dollar account to everyone in a very open manner. The vision of USDC is to become an open platform that every developer can use.

ChainCatcher news, at the Web3 Hong Kong Carnival Summit held today, Liu Huiping, Vice President of the Hong Kong Trade Development Council, stated that Hong Kong's economy consists of three layers: trade and manufacturing, logistics, finance and capital markets, and the digital economy. Web3 can also contribute to the achievements of the first two layers and become a leader. I suggest that the future development of Web3 should assist the real economy and help the financial and capital markets, which will also promote and support Web3 further.Liu Huiping mentioned that in the past three years, small and medium-sized enterprises (SMEs) in Hong Kong have been the main service target of the Hong Kong Trade Development Council. These SMEs have been greatly impacted by the pandemic, and their businesses have been affected significantly. If Web3 can help SMEs address their pain points, you can immediately tap into 98% of Hong Kong's economy, as 98% of it is made up of SMEs, and the potential here is enormous. Web3 can better protect privacy, manage cross-border payments, and handle many tracking processes. All these technologies can help SMEs operate more smoothly and assist them in transaction bookkeeping, record-keeping, customer management, supply chain management, as well as financing and lending. Smart contracts have great potential in this area. If you can develop such solutions, the Hong Kong Trade Development Council, where I work, is very willing to collaborate with you and listen to your suggestions. The mission of the Hong Kong Trade Development Council is to assist SMEs, especially during the difficult times after the pandemic.Liu Huiping emphasized that the Trade Development Council is very willing to help SMEs better understand the opportunities that Web3 brings to them and encourages them to embrace more solutions, whether hardware or software.

ChainCatcher news, at the "How Alibaba Cloud Supports Your Web3 Journey?" event in the Hong Kong Web3 Carnival sub-venue 2 in 2023, Pan Jiahe, the Hong Kong Architecture Director and Head of Web3 Solutions at Alibaba Cloud, stated that Alibaba Cloud can provide customizable cloud service solutions for Web3 enterprises. Currently, virtual asset companies are using Alibaba Cloud's public cloud, private cloud, and other services. Additionally, Alibaba Cloud has solid Web2 construction experience and is confident in supporting different platforms in the Web3 field. It can not only help the Web3 industry improve its infrastructure but also provide consulting services to Web3 enterprises, assisting them in building secure cloud architectures and guiding the development of smart contracts. Meanwhile, Alibaba Cloud has a comprehensive storage and regulatory network to offer safer services for Web3 enterprises.

ChainCatcher news, during the "CeFi Overview" roundtable discussion at the 2023 Hong Kong Web3 Carnival, OKX Global Institutional General Manager Lennix Lai stated that he does not believe centralized platform operators will disappear. CeFi and DeFi can share the global market size, but for regional markets, a "gatekeeper" that complies with local regulations and custody policies is needed.

ChainChatcher news, at the "2023 Hong Kong Web3 Carnival" in the sub-forum "New Trends in Hong Kong Web3 Development: The Evolution and Integration from Web2 to Web3," Chen Zhiheng, Chief Corporate Development Officer of Hong Kong Cyberport Management Company, stated that Cyberport will focus on global Web3 enterprises, nurturing outstanding Web3 companies in a vibrant ecosystem. Hong Kong will provide comprehensive policies to ensure that Web3 enterprises of all sizes can thrive here. Cyberport will continuously cultivate and assist Web3 companies in achieving technological breakthroughs, attracting entrepreneurs and technical personnel.The "Web3 Carnival" is a Web3 event brand jointly launched by Wanxiang Blockchain Lab and HashKey Group, organized by W3ME. This year's "Web3 Carnival" will run from April 12 to April 15, focusing on core topics in various Web3 tracks, including regulatory policies, Web3 infrastructure, and the metaverse. (Source link)

ChainCatcher news, the well-known public blockchain NEAR Protocol announced that it will be a platinum sponsor of the "2023 Hong Kong Web3 Carnival," and will host a NEAR-themed carnival sub-forum on April 14th in the morning. Members from the NEAR ecosystem, such as Orderly and Pagoda, will discuss topics including the NEAR blockchain operating system, Web3 social, NFTs, and DeFi through keynote speeches and roundtable discussions. (Source link)

ChainCatcher news, OKX Ventures partner Jeff Ren confirmed that he will attend the "2023 Hong Kong Web3 Carnival" on April 14, 2023, and participate in a roundtable discussion. Jeff leads OKX Ventures in exploring and investing in innovative blockchain projects globally, covering areas such as infrastructure, DeFi, GameFi, Web3, metaverse, and NFTs.It is reported that the "2023 Hong Kong Web3 Carnival" is co-hosted by Wanxiang Blockchain Lab and HashKey Group, with W3ME as the organizer. Mr. Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region, has confirmed his attendance at the opening ceremony and will deliver a keynote speech. As the title sponsor of the Web3 Hong Kong Carnival, OKX is the only certified NFT ticket issuing partner of the event.