Hong Kong Crypto Finance Summer Forum Sparks Web3.0 Innovation and Digital Economy Growth

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The Hong Kong Crypto Finance Summer Forum, co-hosted by the HKU Business School Executive Education, Caixin Global, Meta Era, and 3W Group, concluded successfully after a full day of dynamic discussions, bringing together over a thousand industry professionals, innovators, and policymakers. Held amidst a surge of Web3.0 events across Hong Kong, this forum stood out as a pivotal moment in the city’s journey toward becoming a global hub for digital finance and blockchain innovation.

Focused on the theme "Opening Cross-Domain Dialogues in Web 3.0: Exploring the Future Potential of the Digital Economy," the event served as a forward-looking platform for reimagining the convergence of financial technology and decentralized systems. With visionary speakers, deep-dive panels, and active audience engagement, the forum highlighted Hong Kong’s growing momentum in shaping the next generation of finance.

Embracing Technological Transformation

Professor Cai Hongbin, Dean of HKU Business School and Director of the Institute of China Economy, opened the forum with a thought-provoking insight: "In a decentralized world, even welcome speeches are unnecessary." He humorously noted that AI tools like ChatGPT could now generate such formalities, underscoring the need for openness to rapid technological change.

Cai emphasized that Hong Kong, as a leading international financial center, must proactively adapt to emerging technologies like blockchain, digital assets, and Web3.0. He praised the city’s bold regulatory steps and innovation-friendly policies, calling them essential for maintaining competitiveness in an evolving global landscape.

“The future isn’t just about technology — it’s about mindset. We must embrace change not as a threat, but as an invitation to innovate.”

The Rise of Crypto Finance in the Greater Bay Area

Tian Lei, Executive Managing Editor of Caixin Global’s Hong Kong bureau, delivered a compelling keynote on “Opportunities for Crypto Finance in the Greater Bay Area (GBA).” She highlighted how the GBA has emerged as a fertile ground for blockchain startups and digital finance innovation.

With world-class financial infrastructure and strong cross-border connectivity, the region is witnessing rapid adoption of blockchain in areas such as trade finance, supply chain logistics, and data management. Beyond Bitcoin and mainstream cryptocurrencies, enterprises are actively exploring tokenized assets, smart contracts, and decentralized identity solutions.

Tian noted that clearer regulations and continuous technological advancement are paving the way for a more mature ecosystem — one where traditional finance and decentralized technologies can coexist and collaborate.

👉 Discover how digital asset platforms are transforming financial access across Asia.

Building Public Trust in Virtual Assets

Ricky Wong, CEO of Cyberport, shared insights into how Hong Kong is cultivating a robust Web3.0 environment through three strategic pillars: talent development, industry growth, and public education. Cyberport’s Web3 Hub has already attracted over 180 blockchain companies since late 2022 — a testament to Hong Kong’s rising appeal as a tech innovation hotspot.

A key goal, Wong stressed, is to help ordinary citizens understand virtual assets positively. Through workshops, sandbox programs, and real-world use cases — from NFT ticketing to tokenized loyalty rewards — Cyberport aims to demystify blockchain and make it accessible to all.

This educational push aligns with broader government efforts to position Hong Kong as a trusted gateway between traditional finance and the decentralized future.

Regulatory Clarity Fuels Confidence

Derek Tung, Director and Head of Policy Research at the Hong Kong Financial Development Council (FDC), provided clarity on the city’s regulatory roadmap for Web3.0 and digital assets. He revealed that discussions around virtual asset regulation began as early as 2021, with around 200 policy recommendations submitted by the FDC — approximately two-thirds of which have been adopted.

Tung underscored that regulation is not a barrier but an enabler, especially in protecting investors while fostering innovation. Unlike traditional finance’s centralized model, Web3 demands new frameworks that balance freedom with accountability.

“A strong regulatory foundation allows real innovation to flourish — without it, trust erodes quickly.”

Hong Kong’s proactive stance has helped form one of Asia’s most vibrant Web3 ecosystems, combining institutional credibility with entrepreneurial agility.

Stablecoins: The Bridge Between Worlds

One of the forum’s standout moments came from Xiao Feng, Vice Chairman and Executive Director of China Wanxiang Holdings. In a nuanced analysis, he described stablecoins not just as digital money, but as connectors and converters between the real and digital economies.

He outlined eight dimensions through which stablecoins address time-space value mismatches and enable programmable finance via smart contracts. According to Xiao:

“A fiat-backed stablecoin is the bridge that brings real-world value into virtual ecosystems. Pure fiat cannot cross this divide — it must be digitized, tokenized.”

Stablecoins facilitate everything from cross-border payments to DeFi lending, acting as both monetary conduits and economic transformers in Web3 infrastructure.

Cross-Industry Collaboration Drives Innovation

Four expert-led roundtables deepened the dialogue across critical domains:

1. Regulating Blockchain and Cryptocurrency in Hong Kong

Explored how regulators can maintain financial stability while supporting innovation — a delicate balance requiring agility and foresight.

2. Integrating Traditional Finance with Web 3.0

Discussed practical pathways for banks, insurers, and asset managers to adopt blockchain solutions without disrupting legacy systems.

3. AI and the Metaverse: The New Technological Frontier

Forecasted how artificial intelligence will power immersive digital worlds — from personalized avatars to autonomous virtual economies.

4. Sustainability in Crypto Mining

Addressed energy efficiency in Bitcoin mining, with Zhang Lu, Founding Partner at JDK Capital, advocating for green energy integration and technological optimization in mining operations.

Huawei Cloud also showcased its Web3 Node Engine Service, now offering dedicated Ethereum node hosting — a move accelerating enterprise-grade participation in decentralized networks.

Bridging AI Innovation with Consumer Needs

Mao Mingjiang, TMT Editor-in-Chief at Caixin Global, pointed to AIGC (Artificial Intelligence Generated Content) as a transformative force reaching everyday users. He cited the viral success of Miaoya Camera, a 9.9 RMB app using AI to produce studio-quality portraits — a rare example of consumer-facing AI innovation in China.

While tech giants race in the so-called “hundred-model war,” Mao argued that true impact lies in connecting advanced AI with mass-market needs — something Miaoya achieved by simplifying access to high-end photography.

👉 See how blockchain and AI are converging to create next-gen digital experiences.

Looking Ahead: A Community Ready for Impact

As the forum wrapped up near 8 PM, attendees lingered — exchanging contacts, brainstorming collaborations, and reflecting on what they’d learned. The energy was palpable: this wasn’t just another conference; it was a catalyst for real change.

Participants left equipped with new insights, strategic connections, and a shared belief: Web3.0 is no longer futuristic — it’s here, and Hong Kong is positioning itself at its heart.

With strong government support, growing public awareness, and an influx of global talent and capital, the city is building more than an ecosystem — it’s building a movement.

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Frequently Asked Questions (FAQ)

Q: What is Web3.0, and why does it matter for finance?
A: Web3.0 refers to a decentralized internet built on blockchain technology. In finance, it enables trustless transactions, greater transparency, and user ownership of data and assets — reshaping how we save, invest, and transact globally.

Q: Is Hong Kong safe for crypto investments?
A: Yes. Hong Kong has implemented clear licensing rules for virtual asset service providers (VASPs) and allows retail trading under regulated conditions — making it one of Asia’s most transparent and secure crypto markets.

Q: How do stablecoins maintain their value?
A: Most stablecoins are backed by reserves — typically fiat currencies like USD or other assets — ensuring their value remains pegged. Algorithmic models also exist but carry higher risk.

Q: Can AI and blockchain work together?
A: Absolutely. AI can enhance blockchain analytics and security, while blockchain provides verifiable data trails for AI models — together enabling trustworthy automation in finance, healthcare, and more.

Q: What role does regulation play in Web3 development?
A: Smart regulation protects users without stifling innovation. In Hong Kong, balanced policies have attracted global firms while ensuring market integrity — setting a benchmark for others.

Q: How can individuals get involved in Web3?
A: Start by learning about wallets, decentralized apps (dApps), and digital identity. Explore educational platforms or begin small investments via regulated exchanges to gain hands-on experience safely.

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