ChainCatcher news, the first "FireNow" Asia Web3.0 Institutional Summit hosted by New Fire Technology Holdings Limited (referred to as "New Fire Technology", stock code: 1611.HK) will officially open on August 13 at The Ritz-Carlton, Hong Kong. This summit invites top entrepreneurs, investors, experts, and scholars from the global Web3 industry to gather in Hong Kong to discuss the hottest topics and cutting-edge investment & technology trends in the current Web3 industry.The conference will focus on six hot topics, including exploring the "Hong Kong Plan" for spot ETFs on virtual assets, how to build a future-oriented Bitcoin ecosystem, investment strategies for the second half of the cycle, how crypto asset management can enter traditional markets, the security of virtual assets, and the compliance journey of virtual asset exchanges, aiming to provide an open and inclusive communication platform for Web3 builders in Asia and around the world.The conference has invited industry leaders such as Professor Wang Yang, Vice President (University Advancement) of the Hong Kong University of Science and Technology, Sailor Zhong, founder of ChainUp, BMAN, partner at ABCDE, Wang Xiaoqi, CEO of Hashkey Exchange, Sun Yuchen, founder of TRON, and Dr. Yu Jianing, president of Uweb, along with many representatives from well-known institutions to attend this conference.The official registration portal for the first "FireNow" Asia Web3.0 Institutional Summit is now online, click to register now.

ChainCatcher news, Wang Yang, Vice President of the Hong Kong University of Science and Technology and Chief Scientific Advisor of the Hong Kong Web3.0 Association, along with Zhu Haokang, a PhD student in Financial Technology at the Hong Kong Polytechnic University and a founding member of the RWA and Stablecoin Working Group of the Hong Kong Web3.0 Association, proposed policy recommendations, stating that Hong Kong should focus on the deep integration of virtual and real-world assets, fully utilizing blockchain technology. Based on the Hong Kong dollar stablecoin, a robust Web3 ecosystem should be built, with a focus on the digitization and tokenization of real-world assets (RWA), such as bonds, private credit, trade finance, real estate, carbon credits, and precious metals. Furthermore, to ensure a good regulatory environment for RWA, it is recommended to adopt Zhu Haokang's earlier advocated "RWA 2+4" as a starting point for feasibility studies. This methodology revolves around two types of tokens (security tokens and utility tokens) and four core elements (legal foundation, financial framework, technological tools, and data-driven) to explore opportunities amidst challenges and promote the healthy development of RWA.To promote the development of RWA tokenization in Hong Kong, it is suggested that a compliant and robust infrastructure needs to be established, with blockchain technology being the core component. Organizations such as the Hong Kong Web3.0 Association have proposed to establish a new public blockchain for RWA in Hong Kong, incorporating the corresponding KYC mechanisms. Additionally, the author once again strongly urges Hong Kong to launch a unified stablecoin, guided by a global plan, to be issued by licensed institutions (which can include government and financial institutions such as banks, insurance companies, and funds), along with a corresponding profit distribution scheme.