Never Miss a Chance to Dive into DePIN at Hong Kong Web3 Festival 2023

Wanxiang Blockchain
3 min readFeb 21, 2023

In Messari’s 2023 Crypto Theses we saw extensive pages of DePIN, one of the most important and promising areas for the next decade. DePIN, known as Decentralized Physical infrastructure Networks, provides a new paradigm of coordination with massive network effect, which will be maintained and operated using token incentives. More specifically, it includes distributed storage solutions like Filecoin, decentralized wireless networks like Helium, decentralized video decoding networks like Livepeer, IoT communication networks like DIMO, global mapping networks like Hivemapper, renewable energy data networks like Arkreen, and other hardware networks are critical to the industry’s long-term viability.

A pivotal part of Web3’s journey to massive adoption, DePIN helps secure the physical world using blockchain and IoT, and co-build a digital infrastructure network powered by consensus mechanisms that are open, fair, and transparent. DePIN, so to speak, enables a considerably efficient way of resources allocation at the lowest cost of silence and to the largest extent possible — this allows Web3 to reshape the traditional digital infrastructure in a whole new fashion. DePIN tackles challenges in public affairs development at a lower cost, provides a lower-barrier way of building global infrastructure, and innovates the integrated evolution of Web3 incorporating DAO, blockchain, IoT and more.

The general metaverse framework consists of six layers, pointed out Dr. Xiao Feng, Chairman and CEO of Wanxiang Blockchain, namely the physical layer, data layer, algorithm layer, governance layer, incentives layer, and application layer. Physical layer is also known as the AR/VR hardware providing immersive experience, and above the data layer we have Web3 that puts users in control of their data and actions. So it is fair to say that metaverse is a combination of Web3 as well as hardware in the physical layer.

Data layer is the key to personal data ownership in Web3, and blockchain would serve as a key driving force for Web3 innovations and evolution as it facilitated decentralized storage, data irreversibility, information encryption. Also, these protocols play a vital role in governance and incentives layers through majority consensus from all participants in the network. AR/VR, however, continues to have a tough time reaching the mass market.

What are the hardware challenges, and how far are we in creating the hardware for enabling the metaverse? Come find the answer at the sub-venue under the theme of DePIN: Web3 and Digital Infrastructure scheduled on April 13, 2023 at Hong Kong Web3 Festival 2023!

The inaugural Web3 Festival, co-hosted by Wanxiang Blockchain Labs and HashKey Group and organized by W3ME, will take place on April 12–15 at Hong Kong Convention and Exhibition Centre (HKCEC). This four-day event, hosted on five center stages across an area of about 9,000㎡, will see over 10,000 attendees, 300 distinguished industry speakers, about 100 Web3 projects, community partners and media partners around the world congregate to network, share, and learn through high-level content and panel discussions.

Web3 Festival will bring together the world’s brightest minds, top Web3 projects and leading venture capitals presenting content-rich discussions and topics centered around Web3. Hong Kong regulatory representatives will also dive into and interpret the latest digital asset regulation policies. Adhering to the Web3 spirits of openness and cooperation, we will invite partners to plan and organize part of the activities together for mutual development. See our website for more information:

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Wanxiang Blockchain is dedicated to building an open platform and offering resources to develop blockchain and promote its application in different industries.