Xiao Feng: Dear guests, colleagues, friends, and friends who are watching the live broadcast in front of the video
Hello everyone, welcome to the 9th Blockchain Global Summit, which we have been holding for nine years. During these nine years, we have received strong support from many peers and friends. Without your support, we would not have the determination to continue holding the summit. President Ma has been participating in the summit for many years, and I would like to express my special thanks to you! There are also many new friends today, including Mr. Qiu Dagen and Mr. Ren Jingxin from the Legislative Council of Hong Kong. The addition of these new friends has given us the confidence to continue the summit, because we are constantly expanding the scope and content, and constantly bringing new value to the participants.
It takes time to create a classic. As far as the summit is concerned, nine years is obviously not enough to make this summit a classic. We are very willing to work with everyone to continue to hold such a global blockchain summit and continue to do it well. The theme of this summit is "Next Stop Web3.0". It should be said that Web3.0 almost covers technologies in the Internet, blockchain, metaverse, AGI, etc. Web3.0 is a general term. Web3.0 not only covers technology, but also involves innovative business models, organizational forms, economic mechanisms and financial models. We have invited experts, developers and practitioners from all walks of life to express their insights and bring value to the participants.
Blockchain is moving from the stage of infrastructure construction to a new stage of large-scale application. The next three years will be a critical moment for blockchain applications. Because in the next three years, the technical framework of blockchain will generally mature. Of course, there will be many details, performance and other aspects that need to be optimized and polished. However, the subsequent performance improvement or detail polishing requires specific application scenarios to bring better changes. After the big framework is determined, the polishing of the product needs to be combined with the needs. Without specific needs, how to optimize? From which direction to optimize? There will be problems. So this is a process of mutual complementation and mutual promotion. After the big framework is determined and there are applications, in the application process, you will know how to optimize the overall architecture.
The next three years will be a critical moment for blockchain to enter large-scale applications. Conversely, it is also a stage for blockchain to prove that it can truly support the real economy, support technological innovation, and support the financial market. In the past, it was the construction period of blockchain infrastructure. We have seen many technologies that have nothing to do with the real economy and specific application scenarios being developed. At this stage, it is easy for people to think that these things are virtual and empty. The infrastructure does not have a direct relationship with specific application scenarios and specific needs. But without the construction stage of infrastructure, we cannot carry large-scale applications on the blockchain framework. Any large-scale application of blockchain ultimately cannot be separated from the core value of blockchain. What is the core value of blockchain? The core value of blockchain is that it is an open and transparent public ledger. This is a huge difference between it and Web2.0 or other previous models. The most core difference is that it is a public ledger.
On such an open and transparent public ledger, strangers, even strangers around the world, can work together efficiently and frictionlessly on a large scale to complete any complex tasks without the endorsement of various trusted intermediaries. This is the core value of blockchain. Including a very popular term these days called RWA (tokenization of real assets). We have seen financial institutions including Hong Kong have made attempts. Not long ago, a financial institution in Hong Kong issued a tokenized green bond of US$200 million. The only regret is that it was registered and issued on a private ledger. Of course, this is already a great progress, but after all, it is registered on a private ledger. If these financial institutions can find a more compliant way to issue it on a public ledger, the result is that the assets issued on this public ledger will become an asset with global liquidity. Because the assets issued on the public ledger can be seen by Chinese and Brazilians, Chinese investors can invest, and Brazilian investors can also complete investment behavior on the public ledger point-to-point. This is the future of RWA real asset tokenization. We have seen regulators in various countries establish new regulatory rules in this regard. We have also seen regulators encourage markets like RWA for tokenization of real assets, and take an encouraging and supportive attitude. Through RWA, we have seen how blockchain technology supports the real economy and how to support technological innovation. Like Hong Kong, issuing green bonds on the blockchain is a very green approach. We have seen blockchain support financial innovation. The applications established by blockchain have helped us build a global work network, a global market network, and a global financial network.
In recent months, we have seen thousands of Chinese engineers developing products and applications directly on the ChatGPT or GPT4 network, some alone, and some in groups of two or three. There are thousands of developers facing the global market, taking advantage of the global system, and launching their own products and services for the global market and global users, which is very successful. I think this is the start of Globalization 2.0 in the digital age. Globalization is an unstoppable trend, although it is beginning to recede due to geopolitical factors. But we should see the beginning of the ebb of Globalization 1.0, and Globalization 2.0 has already started. A fundamental driving force for the launch of Globalization 2.0 is Web3.0. Because in a digital world, it is difficult for us to use geographic space to restrict Chinese engineers and Web3.0 entrepreneurs, and it is difficult to make physical and spatial separations in a digital space. We are very much looking forward to the arrival of the next stop and the arrival of the Web3.0 era.
I believe that Chinese developers and entrepreneurs can demonstrate greater efficiency and win a more global market, a larger global market than in the Internet era.
I would like to once again thank all the guests, colleagues and friends who attended the summit, and thank you again for your continued support and help for the Blockchain Summit. Thank you all!
