{"id":4348,"date":"2022-11-12T06:23:25","date_gmt":"2022-11-12T06:23:25","guid":{"rendered":"http:\/\/www.paralism.com\/blog\/?p=4348"},"modified":"2023-06-05T06:28:21","modified_gmt":"2023-06-05T06:28:21","slug":"shi-xingguo-talks-to-jack-kong-new-opportunities-for-hong-kong-web3-in-the-crypto-winter-and-lessons-from-the-ftx-crisis","status":"publish","type":"post","link":"https:\/\/www.paralism.com\/blog\/shi-xingguo-talks-to-jack-kong-new-opportunities-for-hong-kong-web3-in-the-crypto-winter-and-lessons-from-the-ftx-crisis\/","title":{"rendered":"Shi Xingguo Talks to Jack Kong: New Opportunities for Hong Kong Web3 in The Crypto Winter and Lessons from The FTX Crisis"},"content":{"rendered":"\n
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On the evening of November 14th, the 13th\nepisode of ” Observing the Langya List” was broadcasted, and Mr. Shi\nXingguo (member of the Blockchain Special Committee of the China Computer Federation,\nfounder of Hyperchain, winner of the National Science and Technology Progress\nAward, and former chief engineer of the Internet Laboratory of the Software\nInstitute of the Chinese Academy of Sciences) was the host. He was joined by\nJack Kong (founder of Nano Labs, a Nasdaq-listed company with ten years of\nindustry experience and successful incubation of the first blockchain industry\nstock and the first Chinese metaverse stock). The two discussed the latest\n” Policy Statement on Virtual Asset Development in Hong Kong,” the\nproblems exposed by the FTX liquidity crisis, and hot topics such as new public\nchain economic models and NFT.<\/p>\n\n\n\n\n\n\n\n

Regarding the “Policy Statement on\nVirtual Asset Development in Hong Kong,” which has ignited the Web3 fire\nin China, Jack Kong stated that he had discussed with Hong Kong government\nofficials, Web3 academics, and peers in the industry, and everyone’s views were\nvery positive. “Now the policy allows Chinese people, especially those\nfrom the mainland, to have a soil for entrepreneurship.” He suggested that\nChinese Web3 entrepreneurs register their companies in Hong Kong and see the\nfuture policy changes at a very low cost as a company. “Overall, for\nChinese Web3 entrepreneurs, Hong Kong is the only place that can compete the\nefficiency of mainland China and the legal system of Europe and the United\nStates, so I recommend that entrepreneurs start from Hong Kong in the future,\nthen go to Singapore for development, and then try to scale up in the United\nStates.”<\/p>\n\n\n\n

Regarding the Hong Kong topic, Shi\nXingguo comments that this policy statement is enough to ignite his and his\npeers’ expectations for Hong Kong’s future. He was particularly interested in\nthe digital Hong Kong dollar and the Hong Kong government’s understanding of\nWeb3 itself. “Considering that the Hong Kong dollar itself has a nature of\nfree convertibility and is pegged to the US dollar, I feel that the imagination\nof the digital Hong Kong dollar is very wild.” In addition, the most exciting\nthing about the announcement of this policy statement for him was the Hong Kong\ngovernment’s positioning of Web3 itself, as it clearly regards Web3 as an\nopportunity and trend, and recognizes the position of virtual assets in the\nfuture financial infrastructure. “The government’s attitude can help to\nestablish order in the early stages of industry development. This order will\navoid the situation of bad money driving out good money, and to some extent, it\ncan also help the stigmatized virtual asset industry win market trust again.”<\/p>\n\n\n\n

In the discussion of the FTX liquidity\ncrisis, Jack Kong believed that it would exacerbate bearish performance in the\nshort term but undoubtedly play a more significant role in promoting the crypto\nindustry in the long term. “This will push many exchanges to disclose\ntheir asset proofs, and the industry will develop towards a healthier way. The\nmore practical the financial infrastructure, and the more solid the industry’s\nfoundation, the stronger the industry’s explosive power will be.”<\/p>\n\n\n\n

Regarding new opportunities in the Web3\nfield, Shi Xingguo sees three promising directions: the combination of real\nequity and digital collections or NFTs, private traffic operations, and brand\nconstruction in communities, or we called the ecological construction of brand.<\/p>\n\n\n\n

Highlights of today\u2019s talk<\/p>\n\n\n\n

  1. How can Chinese Web3 entrepreneurs seize the opportunity in Hong\nKong?<\/li>
  2. What are the characteristics of active Web3 entrepreneurship\nregions around the world?<\/li>
  3. What warnings does the FTX crisis bring to the crypto industry?<\/li>
  4. Based on the current development process of the meta-universe,\nwhich part of the infrastructure we need to tackle the most?<\/li>
  5. Are there more suitable economic models and business logics for\nnew public chains?<\/li>
  6. What new opportunities in the Web3 field are promising?<\/li>
  7. What is the ideal NFT business model?<\/li>
  8. How can Web2 companies enter Web3?<\/li><\/ol>\n\n\n\n

    For more\ndetails:<\/p>\n\n\n\n

    https:\/\/baijiahao.baidu.com\/s?id=1749646433000338373<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    On the evening of November 14th, the 13th episode of &# … \u7ee7\u7eed\u9605\u8bfbShi Xingguo Talks to Jack Kong: New Opportunities for Hong Kong Web3 in The Crypto Winter and Lessons from The FTX Crisis<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[208,257],"tags":[],"class_list":["post-4348","post","type-post","status-publish","format-standard","hentry","category-meetings","category-news-and-events"],"_links":{"self":[{"href":"https:\/\/www.paralism.com\/blog\/wp-json\/wp\/v2\/posts\/4348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.paralism.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paralism.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paralism.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paralism.com\/blog\/wp-json\/wp\/v2\/comments?post=4348"}],"version-history":[{"count":1,"href":"https:\/\/www.paralism.com\/blog\/wp-json\/wp\/v2\/posts\/4348\/revisions"}],"predecessor-version":[{"id":4382,"href":"https:\/\/www.paralism.com\/blog\/wp-json\/wp\/v2\/posts\/4348\/revisions\/4382"}],"wp:attachment":[{"href":"https:\/\/www.paralism.com\/blog\/wp-json\/wp\/v2\/media?parent=4348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paralism.com\/blog\/wp-json\/wp\/v2\/categories?post=4348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paralism.com\/blog\/wp-json\/wp\/v2\/tags?post=4348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}