Taiwan Blockchain "Top 30 Most Influential People": 2024 Market Forecast, Web3 Trend Analysis
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Taiwan Blockchain "Top 30 Most Influential People": 2024 Market Forecast, Web3 Trend Analysis
How Do 60 Blockchain Industry Leaders from Taiwan View the 2024 Industry Trends?
Navigating Web3 tides with focused insights2023 was a bumper year for the blockchain industry. With the arrival of Bitcoin spot ETFs, the halving narrative, Ordinals inscriptions, and a revival of public chains, BTC continued to hit new highs this year, approaching $45,000.
As market signals indicate a return of the bull market, Taiwan’s blockchain sector—backed by strong technical foundations and vibrant communities—continues to demonstrate deep development capabilities and leadership on the global stage.
Now entering its fifth year, the "Taiwan Annual Impact Awards" has steadily expanded its influence since its launch in 2019, drawing close attention from experts, developers, investors, and startups across sectors. The awards not only recognize outstanding contributors within Taiwan's blockchain ecosystem but also serve as a crucial benchmark for promoting industry exchange, collaboration, and innovation.
This year, Mingchi News has broadened its invitation to industry experts, community leaders, and VCs to participate in nominations and evaluations, selecting key figures who have made significant contributions across Web3 applications, enterprises, NFTs, venture capital, policy advocacy, and community influence (divided into two lists: “Industry Leaders” and “Community KOLs”). We have invited these thought leaders to share their key market forecasts and Web3 trend insights for 2024.
Disclaimer: Mingchi News' annual list of influential individuals is based solely on each person's achievements, actions, public influence, and industry impact over the past year. The rankings below are not ordered. Given the volatile nature of the crypto market, Mingchi can only confirm the positive influence of these individuals up to the present moment and does not guarantee their future performance or behavior. This list should not be construed as investment advice.
Industry Leader Influence List
Evan Cheng / Co-Founder of Sui, CEO of Mysten Labs
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Sui mainnet launched in early May 2023; native token $SUI surged from $0.1 to $2 at opening trade and now ranks among the top 100 cryptocurrencies by market cap.
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Sui’s DeFi ecosystem has accumulated over 20 projects with TVL exceeding $200 million.
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Under Evan’s leadership, Mysten Labs has raised over $330 million to date.
Evan’s 2024 Predictions & Observations:
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Bullish sentiment remains due to Bitcoin ETFs, institutional interest, and rate cut expectations.
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Early 2024 market dynamics were driven by retail fear and narratives, gradually shifting toward value creation.
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Consumer Web3 products and enterprise adoption will drive a sharp rise in developer activity.
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Sui will lead as a platform for building complex consumer and commercial Web3 products.
Dr. Po-Chiun Ge (Pao Doctor) / 11th Kuomintang Proportional Representation Legislator Candidate, Host of "Pao Bo Friends Talk"
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Host of podcast "Pao Bo Friends Talk," frequently engaging in insightful dialogues with key Web3 figures, bringing accessible blockchain and NFT knowledge to listeners.
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Candidate for 11th Kuomintang proportional representation legislator, aiming to bring Web3 principles into the legislature.
Ge Po-Chiun’s 2024 Predictions & Observations
Bitcoin enthusiasm returns, while the term NFT fades, yet digital collectibles gain acceptance in art circles, museums, and auction houses, expanding their market. National-level nodes and city-state DAOs begin to emerge. AI-powered robots reappear, and Apple and Meta take the lead in launching the metaverse era.
Jamie Lin / Chairman & Partner at AppWorks
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AppWorks Funds manages four venture funds totaling $350 million, having nurtured 5 IPOs, 4 IEOs, and 5 unicorns to date.
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The AppWorks Web3 ecosystem currently includes 129 startups and 305 founders. These Web3 companies collectively generate $865 million in revenue, have raised $1 billion, and hold a total valuation of $13.2 billion.
Jamie Lin’s 2024 Predictions & Observations
As we anticipated last year, 2023 saw sustained efforts from builders solving major problems and developing new Web3 applications—especially in Layer-2, ZK, cross-chain, account abstraction, and decentralized derivatives—with notable progress.
Looking ahead to 2024, the listing of Bitcoin ETFs on U.S. exchanges and Ethereum’s Cancun upgrade introducing Proto-Danksharding will be two major highlights in Q1, while Bitcoin’s mining reward halving will be a key milestone in Q2.
As the ecosystem matures, we expect more “mainstream applications” that seamlessly transition users onto blockchain. Under clearer regulatory frameworks, we also anticipate larger enterprises adopting blockchain technology more positively, accelerating Web3 adoption through their vast user bases.
Ming-Chieh Hsieh / Chairman of ASUS Metaverse, COO of ASUS
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Actively promoted the establishment of ASUS Metaverse. His leadership reflects not only keen insight into the potential of Web3 and blockchain markets but also a firm commitment to integrating the company into youth culture. This move positions ASUS at the forefront of emerging technologies and opens doors to the future digital economy.
Ming-Chieh Hsieh’s 2024 Predictions & Observations
2024 will witness the convergence of AI and Web3.0, profoundly transforming content creation, the metaverse, and digital application services. Seamless integration of physical and virtual worlds with user-friendly interfaces will make Web3 an indispensable part of daily life. We look forward to smarter, more intuitive digital experiences enabling freer movement between virtual and real realms.
Winston Hsiao / Convener of Taiwan VASP Association Preparatory Committee
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Dedicated throughout 2023 to establishing the "Chinese Republic Virtual Currency Business Association," officially submitting application to the Ministry of Interior in December, with formal launch expected in 2024.
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Co-founded Unitas Foundation in 2022 and serves as director, developing a decentralized unit coin protocol to accelerate foreign investment and cross-border payments in developing countries.
Winston Hsiao’s 2024 Predictions & Observations
2024 marks a pivotal turning point for the cryptocurrency industry. As regulation takes shape, the sector will clearly split into “centralized” and “decentralized” tracks. The former must comply with regulations, while the latter receives additional resources to pursue more disruptive and large-scale innovations.
With maturing regulation, I expect massive resource inflows into decentralized infrastructure. These two tracks will form a healthier resource allocation, ultimately balancing, pushing, and checking each other.
Historically, under minimal or no regulation, “regulatory arbitrage” became the primary industry benefit, naturally attracting resources. Despite operating in a fundamentally decentralized industry, players gravitated toward centralization for profit, sometimes amassing excessive power and unjust gains. This led to products and services retaining some decentralization elements but functioning mostly in centralized business models.
During periods of unchecked growth, centralized services captured most resources, slowing foundational development in decentralized areas and leaving practical large-scale applications lacking. As global regulatory environments mature, only compliant operators can continue competing on the centralized track and earn their place in the arena.
However, blockchain’s core essence is decentralization. This technology won’t disappear or slow down due to regulation—in fact, it will accelerate decentralized infrastructure development. The stronger the regulation, the faster the decentralized track will grow.
Fifteen years since Bitcoin’s inception, I once predicted 2023 would be the “year of self-compliance” for exchanges. I’m honored to have served as convener of Taiwan’s VASP Association Preparatory Committee since September. From AML measures to FSC guidelines and association formation, the next step is establishing and implementing self-regulatory standards after the association’s official launch—providing references for future specialized legislation or adaptation of existing laws.
Moreover, XREX became the first Taiwanese virtual asset firm to receive preliminary approval from Singapore’s Monetary Authority (MAS) for a Major Payment Institution (MPI) license in 2023. These developments show that as blockchain technology begins to “change human behavior,” laws must start “limiting human behavior” to maintain societal stability. Within clear and reasonable frameworks, we can preserve innovation while protecting the majority without losing control.
Throughout history, transformative technologies reshaping economic and social systems have brought enormous, even revolutionary impacts. The internet stands as today’s best example—changing only how humans access information—but completely altering behaviors and societal operations, including shopping, socializing, communication, and industrial management.
Blockchain technology is no exception—it changes how people reach consensus and transfer value, bringing unimaginable transformations to finance, data storage, and power distribution.
As regulation and compliance become irreversible trends, players wanting to compete on the centralized track must obtain licenses, while those pursuing decentralization must fully commit resources and effort. 2024 is this watershed moment. The era where anyone could rush into the jungle and engage in guerrilla tactics without rules is over.
Now, as governments worldwide implement varying levels of regulation and issue licenses, operators must secure entry tickets to enter one arena after another. Participants may include traditional financial institutions, startups, emerging tech firms, and various business types—all must operate within defined boundaries to carve out their own paths.
Those unwilling to participate in licensed qualification rounds and regulated arenas must fully shift toward the decentralized world. Both centralization and decentralization now reject “half-hearted” approaches—the gray zone is disappearing. In 2024, everyone must make clear choices and declarations at this dividing line.
Yung-Chang Chiang / New Taipei City Legislator, Promoter of the Virtual Asset Management Bill Draft
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Initiator of the crypto-specific law “Virtual Asset Management Bill Draft”
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Advanced the bill draft for first reading approval in the Legislative Yuan
Yung-Chang Chiang’s 2024 Predictions & Observations
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Regulatory frameworks for the blockchain industry will undoubtedly be paramount in 2024. Considering the industry’s innovation and controversies in certain areas, investor protection is seen as critical. Linked to this are anti-money laundering, fraud prevention, crime suppression measures, and clear legal compliance definitions—all requiring timely and appropriate regulatory framework establishment.
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This year, the association was formed. According to the FSC, they will observe overall industry conditions post-formation before deciding next steps. However, recent financial applications of virtual assets and market expansion compel the FSC to discuss dedicated virtual asset legislation. Overall, in 2024, Taiwan’s virtual asset industry will expand service offerings and experience greater market vitality.
Simon Dai / Deputy General Manager, Digital Financial Services Group, Far Eastern Bank
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Launched the “2023 Virtual Asset Survey,” revealing Taiwanese awareness levels, investment preferences, profitability, information sources, and attitudes toward regulatory oversight across generations.
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Promoted collaboration between banks and virtual asset exchanges, advancing together along four directions: “Detection, Notification, Control, Improvement,” reducing money laundering and fraud incidents effectively.
Simon Dai’s 2024 Predictions & Observations:
1. Top Blockchain Talent Leading Taiwan Internationally
Looking back at 2023, Taiwan’s VASP Association has been intensively preparing. We hope to see the association begin concrete operations in 2024, accelerating Taiwan’s blockchain industry development through collaborative efforts and guiding it toward a healthier, more sustainable direction.
Taiwan possesses the world’s top-tier blockchain professionals. We hope that after deeper horizontal integration in 2024, we’ll see the formation of a national “dream team” boldly stepping onto the international stage, securing a place for Taiwan in more blockchain applications rather than remaining exclusive playgrounds for offshore companies. Therefore, in 2024, we look forward to seeing this national dream team shine globally, entering the blockchain World Cup and showcasing more Taiwanese unicorns.
2. Convergence of Traditional Finance and Cryptocurrency Industry for Safer, More Convenient Transactions
Far Eastern Bank’s Bankee, after releasing the “2023 Virtual Asset Survey” to understand user profiles and needs, discovered that “security” and “convenience” are the most valued aspects. In 2024, we will gather insights from VASP operators, professional institutions, and customers to further release the “2024 Industry Survey Report.” We believe multi-party cooperation across compliance, trust, and accessibility stages will promote robust growth of the blockchain ecosystem, ushering in a “new era” for Taiwan’s blockchain industry.
3. Banks Leverage Strengths to Build Robust Joint Defense Mechanisms, Reducing Money Laundering and Fraud Rates
In 2023, Far Eastern Bank introduced a “Detection, Notification, Control, and Improvement” joint defense mechanism, horizontally connecting exchange operators to monitor suspicious transactions and provide instant alerts. Through transaction control procedures, we effectively prevent money laundering and fraud cases, eliminating illegal transactions. Using big data analysis, we continuously refine and optimize security protocols. We hope for broader industry participation in 2024 to implement these joint defense mechanisms, creating a safe and convenient transaction environment for users.
4. Welcoming Taiwan’s Blockchain “New Era”: Perfecting the Crypto Ecosystem—Compliance Brings Trust, Trust Enables Adoption!
At the end of 2023, Taiwan’s VASP Guidelines were released, providing clearer guidance for virtual asset platforms. We believe that only on a foundation of compliance can user trust be established, strengthening public willingness to participate and allowing blockchain applications to enter more lives—achieving true adoption and popularization.
Alex Liu / Founder & CEO, MaiCoin Group
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MaiCoin is Taiwan’s longest-running digital asset trading group, with brands including MaiCoin digital asset trading platform, MAX digital asset exchange, AMIS blockchain network, and Qubic NFT technology integration services.
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Launched cryptocurrency payment service “MaiPay” this year, allowing users to transact via BTC, ETH, USDT, USDC, MAX tokens, increasing use cases for crypto payments.
Alex Liu’s 2024 Predictions & Observations
2024 will welcome the Bitcoin halving. Looking back, the three previous bear-to-bull cycles were closely tied to Bitcoin halvings. Additionally, multiple U.S. financial institutions filed Bitcoin spot ETF applications with the SEC in 2023, making the fourth quarter market increasingly active. Beyond price fluctuations, the filing of Bitcoin spot ETFs signifies recognition from traditional financial institutions toward the crypto industry—indicating mainstreaming. We believe 2024 will be lively and positive.
2023 was also a year when global regulations began taking effect. Besides Hong Kong, Singapore, Japan, and others releasing relevant rules, the U.S. SEC cracked down on crypto-related businesses. Taiwan’s crypto industry experienced guideline releases, association formation, and the first reading passage of a crypto-specific law—seemingly severe setbacks and limitations short-term, but long-term, I view them as preludes to coexistence with established systems. I anticipate a healthier industry and increased willingness for people to join.
Additionally, we’ve seen traditional financial institutions entering the field via green energy STOs, Bitcoin spot ETFs, and crypto payments. Based on blockchain’s decentralized nature and crypto’s borderless, instantaneous transaction characteristics, I believe more institutions will soon innovate services, create liquidity, and reduce operational costs through “tokenization.” In the near future, we should see more discussions and successful cases involving real-world assets (RWA), supply chain finance, carbon credit trading, stablecoins—offering Taiwan opportunities to become one of many nodes. Blockchain technology and cryptocurrencies have the potential to become Taiwan’s next major industry.
Matt Cheng / Founder, Mindwork Capital
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Mindwork Capital focuses on angel and seed-stage startups, investing in numerous Web3 teams in the U.S. and Asia, currently managing over $400 million.
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Before founding Mindwork Capital, Matt co-founded Skyunion Interactive and Yuxuan Technology (now 91APP), served as advisor to Wish (world’s largest cross-border e-commerce platform) and Atomic VC (U.S.-based). He was among the earliest investors in 12 global unicorn companies including Flexport, Calm, Hims & Hers, and Paidy.
Matt Cheng’s 2024 Predictions & Observations
I think the biggest lesson from the unpredictable 2023 is—don’t try to predict the market.
However, what we can do is identify possible market signals (signals) and infer potential 2024 developments from current indicators. Here are three areas I believe deserve attention:
1/ Integration of AI and Blockchain Technologies: AI and blockchain are arguably the two most exciting technological innovations in recent years, and generative AI has again demonstrated its power in 2023.
Many believe combining AI and blockchain will boost the blockchain industry—for instance, using AI for error detection to enhance blockchain security, or integrating blockchain data with AI analytics to improve organizational data analysis and insights. I expect to see more real-world examples in 2024.
2/ Approval Prospects for Bitcoin Spot ETFs: With increasing large institutions—including BlackRock, WisdomTree, Invesco, Franklin Templeton—submitting ETF applications to the SEC, I believe the likelihood of Bitcoin spot ETF approval in 2024 has risen significantly.
If approved, Bitcoin’s visibility among traditional investors and retail participants will greatly increase—potentially “crossing over”—not only boosting prices but also helping dispel negative stereotypes. However, balancing this with decentralization concepts presents another challenge.
3/ Accelerated U.S. Bank Adoption of Tokenized Payments: Building on the above, as cryptocurrencies interact more with traditional financial markets, we may see new sparks in 2024.
In 2023, PayPal, the U.S.’s leading payment giant, pioneered tokenized payments, followed by JPMorgan Chase. We can expect more U.S. banks to launch related services in 2024, accelerating their development in the crypto space.
Po Chen / Co-Founder, TonX Studio
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Founded TonX Studio to promote TON ecosystem development, incubating infrastructure projects like TonKey wallet, TonDaddy domain service, and Tonstake.
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Co-founder of the world’s largest Chinese-language community “Bitcoin Chinese Community,” which grew to nearly 163,000 members on Facebook by end-2023.
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Since 2014, published over ten papers on Bitcoin, recognized as Taiwan’s earliest Bitcoin and blockchain scholar.
Po Chen’s 2024 Predictions & Observations
Bitcoin’s Taproot evolved from concept to implementation in 2023, moving from theory to everyday life. It’s gratifying to see BRC-20 emerge, alongside growing attention and investment in RGB, Lightning Network teams, etc. Soon, we’ll see major assets issued directly on Bitcoin L1, and numerous Bitcoin Layer2 applications appearing in 2024.
I remain curious—Bitcoin is a silent whale. Will 2024 be the year it awakens?
Telegram is the world’s second-largest messaging app; TON is the world’s fastest blockchain. In 2023, it achieved a test throughput of 100,000 TPS, triggered sharding on mainnet, and processed tens of millions of transactions. At Token2049, Telegram announced its relationship with TON. Soon, Telegram’s 1.4 billion users will have TON Wallet pre-installed by default.
Telegram will evolve beyond messaging into payments and a Web3 gateway. Future versions will feature a Telegram Mini App Store—a lifestyle-oriented app marketplace. To support billions of users, we’re building high-stability, high-speed TON APIs—TonFura—and developing SDKs in multiple languages to prepare for explosive growth.
Jason Fang / Founder, Sora Ventures
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Sora Ventures manages two funds with investment portfolios exceeding 80 companies.
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Hosted Sora Summit 2023 “Bitcoin Ecosystem” conference, inviting prominent guests including Coinbase CEO Brian Armstrong, Ordinals protocol developer Casey Rodarmor, and BRC20 creator Domo.
Jason’s 2024 Predictions & Observations
Recent analyses of the Bitcoin market suggest that under current macroeconomic conditions, Bitcoin’s application ecosystem holds tremendous potential in the next bull market. Particularly in the Ordinals market, despite rising transaction volumes recently, the overall scale remains small.
I believe the development of the Ordinals protocol is crucial for enhancing Bitcoin’s value—it will be the driving force behind Bitcoin surpassing previous highs.
Furthermore, Bitcoin’s next phase will introduce utility tokens into the network, creating unprecedented scenarios. In Web3 history, each bull market’s dominant narrative has never repeated. Thus, I believe the next bull market will highlight Bitcoin’s utility.
Andrea Chang / Partner, Oak Grove Ventures; Research Partner, NGC Ventures
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Oak Grove Ventures focuses on early-stage investments in Web3, artificial intelligence (AI), and biotechnology, with portfolio projects including Gemini, Opensea, Animoca Brands, and Near.
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NGC Ventures manages over $500 million in assets, investing in early-stage Web3.0 infrastructure, startups, and projects.
Andrea Chang’s 2024 Predictions & Observations
1. Bitcoin Ecosystem
By 2024, I expect Bitcoin’s native DeFi functionality to expand significantly beyond ERC-20 limitations. Bitcoin Layer2 and native Bitcoin developments will play pivotal roles. For Bitcoin Ordinals, as more builders enter, we may see community expansion beyond BRC20 standards to other protocols (e.g., Tap protocol).
2. Decentralized AI Infrastructure: Blockchain Meets Artificial Intelligence
This includes zero-knowledge machine learning (zkML) protocols offering privacy-preserving AI solutions. Decentralized storage and enhanced data availability mechanisms will further support these infrastructures. These advancements can promote safer, more efficient, and scalable AI operations on blockchain networks.
3. Consumer Dapp Growth: Driven by Asian Markets
2024 will mark a significant shift in the dApp landscape, with Asian market adoption driving a surge in consumer-oriented applications, particularly in casual gaming and social domains. Known for rapid adoption of technological innovation, Asian markets will lead this transformation, setting new benchmarks for dApp usability and functionality. Infrastructure supporting mass adoption and better user experiences (e.g., account abstraction) will unlock more use cases.
4. Modular Application-Specific Blockchains
In my research, as industries become increasingly application-centric, we may see more super-apps motivated to own their chains with modular infrastructure support.
Titan Cheng / Founder & CEO, Bitopro Group
Bitopro launched its first NFC card cold wallet using smartphone induction technology at year-end 2023, featuring military-grade security specs for offline private key storage.
Partnered with FamilyMart convenience stores, allowing members to redeem points for Bitcoin (BTC), Ethereum (ETH), USDT, etc.
Developed proprietary TT Check gift cards, expanding virtual currency applications.
Titan Cheng’s 2024 Predictions & Observations
1. Regulatory Implementation, Traditional Finance Gradually Embracing Digital Currencies
The establishment of Taiwan’s VASP Association in 2024 will be a landmark event. Once regulation is implemented, traditional finance and cryptocurrency development will become increasingly “integrated.” On a compliant basis, public acceptance will rise, and diverse application scenarios will enter daily life. We look forward to sparks generated by the combination of traditional finance’s “rigor” and digital currency’s “innovation”!
2. Digital Currency Payments Gain More Use Cases
According to Statista, digital currency payments are projected to grow at a compound annual rate of nearly 17% from 2022 to 2029, reaching transaction volumes of $4.12 billion.
We are optimistic about this emerging payment method. Traditional financial payment systems will gradually integrate digital currency payment services. Advantages of digital currency payments include:
(1) Instantaneity: Consumers can pay anytime, anywhere, unrestricted by geography, with immediate settlement.
(2) Transparency: Transaction records are publicly visible on-chain and tamper-proof.
(3) Low fees: Transaction fees paid by merchants and consumers could be much lower—PayPal charges nearly 4% or more per transaction, while certain Bitcoin transactions cost less than 1%.
3. Real-World Asset Tokenization:
Real-world asset tokenization is a key to blockchain adoption—representing ownership of valuable real-world assets on blockchain, such as carbon credits, which are highly suitable for tokenized trading.
Audrey Yang / CGO, Orderly Network; Founder, Radiance Ventures
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Orderly Network provides comprehensive dApp tools and enables rapid deployment of complex full-chain trading applications for Web3 teams, accumulating over $500 million in trading volume.
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Radiance Ventures is a blockchain investment fund dedicated to accelerating blockchain advancement, reshaping digital asset interactions, and stimulating growth across the entire Web3 sector.
Audrey’s 2024 Predictions & Observations
Bitcoin Ecosystem Revival, Bitcoin ETH and DeFi Summer 2.0:
In 2023, the Bitcoin ecosystem, through inscription processes under asset issuance protocols like BRC-20, transformed individual satoshis into unique digital assets, reshaping Bitcoin’s transaction nature. The emergence of tBTC, bridging Bitcoin with Ethereum and Solana ecosystems, facilitated interaction between Bitcoin and DeFi applications.
According to Galaxy’s October report, institutional funds currently hold 842k BTC (~$22B). Wealth management assets managed by brokerage dealers, banks, etc., represent a potential market of $48.3 trillion. Compared to year-to-November ETP inflows of $1.5B, if Bitcoin ETFs are approved, just 0.003% penetration of this potential market could double annual BTC inflows.
Given these significant developments and momentum built over the past year, a foundation has been laid for potentially explosive growth trajectories in 2024.
Toward Financialized Social Experiences
Since DeFi Summer, Web3.0 has remained heavily overlapping with financial attributes. Most DeFi products’ steep learning curves and low stickiness have limited expansion of incremental markets.
Observing the current industry landscape, many social projects seek collaborations with traditional industries. In the NFT space, Pudgy Penguins successfully produced physical toys sold in 2,000 Walmart stores in the U.S.—a successful case of physical-digital integration.
Trading platforms continue to foster projects with social attributes. DCT (Dream Come True), a community trading platform enhanced with AI assistant tools, is scheduled to launch in Q1 next year.
Web2.0 companies and renowned IPs are also entering the space. NFT project Moonbox secured exclusive rights from Stephen Chow to create NFTs based on three of his films. Entertainment has become an indispensable component in Web3.0’s social development path. North American concert organizer Pulse Events is discussing possibilities with Radiance Ventures to combine live concerts with Web3.0. Previously, Pulse Events collaborated with Korean artists BIGBANG and EXO on large-scale tours. Cross-industry collaborations in entertainment could help break Web3.0’s existing niche market barriers.
In the coming year, beyond the consistently invested GameFi ecosystem, we can expect numerous Web3.0 experiments across different life domains. Commercial designs involving NFTs and tokenized loyalty points and rewards systems may introduce novel financial closed loops to the existing social sphere.
Wayne Huang / Co-Founder & Group CEO, XREX
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In 2023, XREX became Taiwan’s first company to receive preliminary approval for Singapore’s financial major license “Major Payments Institution (MPI),” breaking a major barrier for cross-border crypto payments.
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Co-founded Unitas Foundation and serves as director, developing a decentralized unit coin protocol to accelerate foreign investment and cross-border payments in developing countries.
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Completed NT$470 million in Pre-A round funding, attracting heavyweight investors including Japan’s SBI Investment, Canada’s ThreeD Capital, and Germany’s Global Founders Capital.
Wayne Huang’s 2024 Predictions & Observations
In 2024, we expect wider applications of stablecoins and central bank digital currencies (CBDCs) in cross-border payments and settlements.
Beyond large traditional financial institutions and international payment providers like JPMorgan, Visa, Mastercard, and PayPal, sovereign states and government agencies will also participate.
Rapid geopolitical shifts, fast development of Global South and emerging markets, and the rise of Middle East financial hubs have dramatically increased demand for SWIFT alternatives in cross-border payments and settlements—currently a major pain point for C2C, B2B, F2F, and G2G. Blockchain will be the optimal solution for this financial bottleneck.
After 15 years of blockchain technology, numerous innovations and waves have emerged—from 2017’s ICO boom, 2020’s DeFi Summer, 2022’s NFT craze, to the recent Bitcoin inscription wave—each seemingly ending abruptly, often halted by market crashes.
To date, perhaps only stablecoins have truly achieved product-market fit (PMF). Since the launch of the world’s first stablecoin USDT nine years ago, initially used for crypto trading, it has now entered real life—becoming essential tools for ordinary people to preserve assets, handle cross-border payments, and pursue financial autonomy. Reasons include fragile central banks, unstable banking systems, severe currency devaluation, rampant inflation, economic instability, conflicts, and wars.
In 2023, XREX hosted the first Stablecoin Summit in Singapore. I discussed with Paolo Ardoino, CEO of stablecoin issuer Tether, who shared that during the pandemic, several countries faced severe inflation and currency depreciation—Turkey’s lira lost 80% value in 18 months, while Argentina, Venezuela, and Middle Eastern and Central Asian nations fared worse.
USDT became a channel for emerging markets to access U.S. dollars—not for trading profits or quick riches, but to support families and ensure economic security. Stablecoins became a way for people in developing countries to live securely.
According to Chainalysis, over $2.26 billion worth of USDT flows weekly on blockchains for investment, buying/selling, or purchasing goods/services. Stablecoins remain vital transaction mediums in crypto. Among hundreds of millions of stablecoin users globally, few are typical “crypto natives.” Many are SME owners, micro-merchants, or household breadwinners needing to feed their families.
In 2024, we will not only see stablecoins perform and apply more outside the crypto circle, but I predict that amid rising geopolitical risks and ongoing conflicts, more nationally initiated or participated projects will emerge to build cross-border clearing and settlement systems beyond SWIFT—ensuring stable and autonomous trade and capital flows. Blockchain technology and stablecoins will undoubtedly be the two most important components of this new system.
Josh Lu / APAC Business Operations Director, BINGX
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BingX has served over 5 million users across more than 100 countries and regions with spot, derivatives, copy trading, and grid trading services.
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In November, partnered with BTC ecosystem wallet UniSat, becoming one of the first centralized exchanges to support BRC-20 tokens.
Josh Lu’s 2024 Predictions & Observations
2024 is widely expected to mark the beginning of another crypto bull market. As macro liquidity enters the crypto market, the entire ecosystem will accelerate further. Regarding future market predictions, the Bitcoin ecosystem will see more development potential. However, short-term inscription market hype may attract many developers and investors, but meme-heavy inscriptions lack sustainability. Investors should distinguish speculation from investment and avoid long-term holdings in projects without long-term goals.
The Bitcoin ecosystem will bring more resources into the crypto space. For other public chains and L2s, evaluation should focus on applications. While inflated TVL can cause misjudgment, TVL remains a relatively reliable indicator. Focus on identifying real users—they are the best endorsement for any protocol or public chain.
Although many public chains run campaigns to inflate user numbers, actual active users matter most. I predict high-performance public chains will regain public attention in 2024. Additionally, Depin (decentralized infrastructure)—an easily understandable, high-potential sector—will re-enter new investors’ sights with the new bull market. Easily comprehensible projects always succeed in attracting newcomers—a crucial sector that cannot be ignored.
Pinta Chen / Marketing Director, BlockTempo
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Serves as marketing director for Mingchi News, managing social media platforms and large online communities, driving BlockTempo’s continuous growth as the leading Chinese-language blockchain traffic media globally.
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Hosted multiple industry-defining events in 2023: Taipei’s inaugural “TON Hackathon,” the first Chinese-speaking “Bitcoin PizzaDay Basketball Tournament” gathering over a thousand attendees, launched the “Taiwan Blockchain Industry Map,” co-organized the second NFT Taipei, and hosted the year’s largest “Infinity Block Night” industry networking event.
Pinta Chen’s 2024 Predictions & Observations
With blockchain technology and AI continuously merging into the Web3 ecosystem, coupled with new narratives constantly emerging, 2024 holds unprecedented potential.
I remain highly optimistic about developments in gaming, social, finance, and entertainment sectors. Games and AI with Web3 elements will become key catalysts for attracting Web2 institutional investments in 2024.
AI will significantly enhance game user experiences while enriching content creation complexity and maturity in digital asset utilization. The momentum of gamified tokens may push the crypto market into a new bull cycle.
Cindy Tsai / Chairperson, Taiwan FinTech Association
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Dedicated in 2023 to promoting the establishment of Taiwan’s VASP Association, formally submitted application to the Ministry of Economic Affairs, expecting official launch in 2024.
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Organized various events and lectures, actively promoting discussions and development around blockchain, cryptocurrency, NFT, and related technologies in Taiwan.
Cindy Tsai’s 2024 Predictions & Observations
Over the past year, I visited Dubai, Tokyo, Seoul, Singapore, Hong Kong, and other locations, all of which are actively promoting blockchain and Web3. My predictions for 2024:
1. Regulation of cryptocurrencies has become a trend, with non-crypto players (such as traditional finance, telecoms, social platforms) showing increased willingness to participate. Whether this trend poses competitive challenges or collaborative opportunities for existing blockchain players warrants close attention.
2. During my tenure as chief advisor to the VASP Association preparatory committee, I witnessed industry players unite selflessly and discipline themselves, collectively steering the virtual currency industry toward positive, long-term development. On December 21, 2024, we formally submitted our application to establish the association, marking a historic milestone. The VASP Association will become the sole direct communication channel between public authorities and industry players, serving as a key mechanism for government oversight of VASPs.
Taiwan’s innovative model for regulating VASPs should be successfully established in 2024, achieving a balance between industry innovation and risk management. We hope that Taiwan’s public-private partnership model for VASP regulation becomes an international benchmark for regulating new technologies—helping VASPs establish roots in Taiwan while looking outward globally!
3. Will decentralized blockchain applications become more integrated into daily life? User-side innovations—such as simplified private key login and safer, more convenient wallets—are critical. Can Taiwan-based players seize the initiative? 2024 will be decisive.
Paul Fan / Co-Founder & CEO, CYBAVO
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CYBAVO is Taiwan’s largest cybersecurity consulting firm, serving clients including Taiwan’s top three cryptocurrency exchanges and international customers from Japan, the UK, the U.S., Hong Kong, Russia, Dubai, etc. In 2022, Circle, the world’s second-largest stablecoin issuer USDC, announced its acquisition of Cybavo.
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Has protected over 4 million cryptocurrency transactions for clients, with cumulative transaction volume reaching $35 billion.
Paul’s 2024 Predictions & Observations
2024 will be a pivotal year for stablecoin regulation.
Asia has played a leading role on the global tech stage over the past decade, nurturing and launching a new generation of innovative enterprises that have brought convenience and economic opportunities to billions.
With Taiwan and the region’s fintech ecosystems thriving, digital payment adoption is expected to accelerate, fostering greater competition, innovation, and synergies. I hope global regulators will establish clearer, more explicit frameworks for crypto-related services while remaining optimistic about Asia’s crypto asset future.
Justine Lu / Co-Founder, Lootex; Chairperson, Taiwan NFT Association
Lootex is one of Taiwan’s largest NFT marketplaces—an esports-focused, multi-chain gaming asset marketplace sharing the latest GameFi news.
Chairperson of the Taiwan NFT Association, organizing the second edition of “NFT Taipei,” an international event spanning art and blockchain, inviting dozens of top Web3 leaders to discuss how blockchain and NFTs can create new opportunities in the next bull market.
Justine Lu’s 2024 Predictions & Observations
I don’t feel qualified to make predictions for this generation—I can only humbly attempt to understand meme culture.
From product design, marketing, to community management perspectives, respecting meme culture and finding ways to expand community engagement while upholding open and shared values will be a crucial task for all Web3 entrepreneurs.
Pochang Wu / Co-Founder, OurSong
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