Quick Overview of OKX Web3 Executives' Insights at "2024 Hong Kong Web3 Festival"
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Quick Overview of OKX Web3 Executives' Insights at "2024 Hong Kong Web3 Festival"
As a globally leading Web3 technology company, OKX Web3 has sponsored the "Hong Kong Web3 Festival" for the second consecutive year, aiming to showcase its latest products and technologies and promote the adoption and development of blockchain technology through one of the world's largest Web3 events.
Navigating Web3 tides with focused insightsOn April 9, the "2024 Hong Kong Web3 Festival," jointly launched by Wanxiang Blockchain Labs and HashKey Group and organized by W3ME, concluded successfully in Hong Kong. The event brought together over 160 global leading projects, more than 100 vertical industry media outlets, and over 300 expert scholars, renowned project representatives, and industry pioneers as speakers, collectively exploring new insights into Hong Kong's Web3 development.
As the title sponsor and NFT ticketing partner of the event, OKX Web3 not only set up an exhibition booth at the venue for direct engagement with users but also hosted its own side event, "OKX Web3 Night," to connect with industry partners. Additionally, OKX Web3 offered exclusive gifts and discounts to users who purchased NFT tickets via the OKX Web3 Wallet, receiving widespread acclaim.
In addition to these vibrant brand activities, senior executives from OKX—including OKX Group President Hong, OKX Hong Kong Executive Director Frank, and OKX Ventures Partner Jeff Ren—joined distinguished guests such as Michael Wong, Deputy Financial Secretary of the Hong Kong Special Administrative Region; Cathie Wood, CEO and CIO of ARK Invest; Tommy Cheung, Legislative Council Member (Innovation and Technology) of the Hong Kong Special Administrative Region; and Clive Ng, Chairman of Hong Kong Science and Technology Parks Corporation, in attending the event. They shared cutting-edge perspectives across various sessions including keynote speeches and roundtable discussions.
Photo | OKX Group President Hong
OKX Group President Hong delivered a speech centered on the theme of "Responsible Innovation." She emphasized that OKX is leading industry transparency through responsible innovation. On one hand, OKX enhances transparency and accountability through technology—having pioneered the Proof of Reserves (PoR) program since November 2022, now widely adopted across the industry, and evolved it into a monthly automated technical solution that meets users' expectations for centralized platforms to adhere to traditional financial auditing standards. On the other hand, OKX Web3 has invested heavily in technology, launching the self-custodial OKX Web3 Wallet as a powerful all-in-one gateway to Web3, enabling users to hold their own private keys—the most critical way to reduce platform-related risks.
Hong further highlighted that, as a user-centric platform, it is essential to enable broader populations to benefit from new technologies in simpler and more accessible ways. OKX Web3 will continue investing in user-friendly features such as account abstraction, MPC wallets, and social recovery mechanisms, helping more users adopt self-custodial wallets without needing to remember or manage seed phrases. In cases where seed phrases are lost, users may regain access through trusted social contacts they previously designated. As an industry-leading platform, OKX Web3 Wallet has already introduced AA smart contract wallets powered by account abstraction technology, aiming to provide users with simpler experiences, faster speeds, and lower costs when transacting and transferring assets across different blockchains. All product efforts at OKX Web3 are grounded in one core belief: offering customers more choices in simpler and safer ways so they can make better-informed decisions.
Photo | OKX Hong Kong Executive Director Frank
At the roundtable discussion titled "Unlocking RWA: Insights into Opportunities, Challenges, and Collaboration in the Blockchain Era," OKX Hong Kong Executive Director Frank explored key topics including opportunities in real-world asset tokenization (RWA), risk management strategies, and the integration between traditional finance and decentralized finance ecosystems. Frank noted that with technological advancements, the development of RWA has naturally become a trend, enabling people to improve transaction and investment efficiency while reducing associated costs. Standardization of asset-on-chain protocols, enhanced security and privacy measures, and the application of AI and data analytics to RWA platforms will shape the future direction of innovation and use cases in this space. Discussing RWA innovation in Hong Kong, Frank stated that Hong Kong has great potential to play a pivotal role in the global adoption of RWA platforms and related technologies. As one of the world’s top three financial centers, Hong Kong boasts exceptional connectivity, resources, talent, mature financial infrastructure and regulations, a large number of Web3 companies, and abundant creativity. Moreover, Hong Kong has a well-established investor base, providing a favorable and solid environment for RWA adoption. Crucially, Hong Kong serves as a gateway to Asia and beyond, and its strategic market position coupled with strong international linkages could help scale RWA platforms into Asian and global markets.
Photo | OKX Ventures Partner Jeff Ren
OKX Ventures Partner Jeff Ren delivered an opening speech at the "OKX Web3 Night" event hosted by OKX Web3 during the Web3 Festival. Jeff expressed his pleasure in engaging in deep discussions with industry leaders such as Solana and Aptos Labs on the latest technological innovations and trends, noting that progress in these areas not only reflects the dedication of these leaders to ecosystem-wide innovation but is also crucial to the advancement of Web3. The close collaboration between OKX and these partners aims to foster broader connections and cooperation within the blockchain community, contributing to a more interconnected and efficient blockchain ecosystem. Jeff emphasized that as one of the most active contributors in the Web3 space, OKX Web3 focuses on accelerating the growth and adoption of the blockchain ecosystem by providing robust support to developers across various chains and protocols—demonstrating OKX’s commitment to supporting blockchain infrastructure. However, OKX is not only dedicated to developing cutting-edge products but also actively invests in infrastructure and governance protocols to bring more real-world use cases onto the blockchain—a vital step in advancing blockchain technology. OKX recognizes that strong infrastructure is a prerequisite for widespread blockchain adoption and remains committed to meaningfully supporting a more decentralized future. Going forward, OKX will strengthen ties with Hong Kong’s crypto-tech community and contribute to the evolution of blockchain technology, co-building the future of the digital era.
Jeff Ren, Partner at OKX Ventures, attended the 2024 Hong Kong Web3 Festival on April 9 and delivered a keynote speech. He noted that aside from developments around Bitcoin itself, the convergence of AI and crypto has recently become a major focus in the industry—for instance, leveraging blockchain’s decentralized and permanent storage capabilities to ensure integrity for AI data and models; and utilizing token economics to create effective incentive and payment mechanisms for AI-related data, models, and computing resources. Jeff pointed out that as blockchain technology continues to evolve and computational power increases, there is growing potential to deploy AI models directly on-chain, driving deeper integration between blockchain and artificial intelligence, and unlocking unprecedented transformation and innovation opportunities across industries.
As a globally leading Web3 technology company, OKX Web3 has sponsored the "Hong Kong Web3 Festival" as title sponsor for the second consecutive year, aiming to showcase its latest products and technologies through one of the world’s largest Web3 events, thereby promoting the popularization and development of blockchain technology.
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