The 10th Global Blockchain Summit Recap: Road to Web3, Road to Future

The Tenth Global Blockchain Summit unfolded on October 17th at Design Innovation Institute Shanghai, attracting participants and excellent Web3 projects across the globe. It goes beyond just the tenth edition of one of the longest-running events in Asia; it represents its ambition and commitment to the Web3 industry as always.

Under the theme of “Road to Future Web3”, the Summit brought together the world’s leading professionals from the blockchain and Web3 communities to discuss Web3 opportunities, foster innovation, and showcase the latest solutions and progress. Sponsors and exhibitors of this year’s summit include:

Diamond: Wanxiang Innovation Energy City

Platinum: Qtum

Booth: Avail, ICP Hub, Kechat, Meta48, Sieger

Welcome Dinner Booth: DappLink, ICP Hub, Kechat

In his opening remarks, Wanxiang Blockchain Chairman Feng Xiao said, “The past ten years saw our commitment the Web3 technology with blockchain, distributed ledger and token economics as its core. Today we have every reason to believe that the Web3 industry will come to its new decade of explosive growth. A heart-felt, sincere gratitude to every friecontnd and visitor who’ve ever been there with us over the past nine years.”

The summit also featured content-rich and inspiring keynote speeches delivered by Duncan Chiu, Legislative Council Member (Technology & Innovation Constituency), HKSAR, Vitalik Buterin, Ethereum co-founder, Vince Turcotte, Business Development Lead for Banking and Capital Markets APAC at Chainlink Labs, David Lee, Chairman of Global FinTech Institute and Professor at Singapore University of Social Sciences, Jason Yu, TradeGo Pte Ltd CEO, Rita Liu, RD Technologies CEO, Anna Liu, General Manager of Tokenisation at HashKey Group, Kane Yip, Partner of RuiHe Capital, Leo Lara, Team Lead at Ethereum Foundation/PSE, Miguel Palencia, Qtum co-founder, Sam Seo, Representative Director of Klaytn Foundation, Evan Auyang, Group President of Animoca Brands Limited, Rand Hindi, Zama CEO, and Yu Yu, Professor at Department of Computer Science and Engineering, Shanghai Jiao Tong University.

Duncan Chiu, Legislative Council Member (Technology & Innovation Constituency), HKSAR, elaborated on Hong Kong’s engagement and commitment to Web3, and its latest progress in digital asset management, Fintech, CBDC, stablecoins and legislative initiatives.

Ethereum co-founder Vitalik Buterin presented Ethereum’s latest moves in blockchain innovations, saying that they’ve made great strides in smart account, account abstraction, and zero-knowledge proof technologies, despite of complex cross-chain transactions and fragmented user experience.

David Lee, Chairman of Global FinTech Institute and Professor at Singapore University of Social Sciences, pointed out in his keynote that blockchain technology is playing a vital role in Web3 and Web4 adoption in Asia and Africa. He also introduced He also introduced some partnership cases between Singapore and China in paperless cross-border trade and central bank digital currency (CBDC) projects.

Qtum co-founder Miguel Palencia virtually joined the conference, sharing Qtum’s progress in EVM and innovations in running blockchain through space facilities. He also introduced Qtum’s use cases in games, healthcare, finance, among other spaces.

RD Technologies CEO Rita Liu discussed the current landscape of stablecoins, including its latest development, types, and advantages. She elaborated on the superiorities of fiat-collateralized stablecoins in the payment system, such as predictable value and instant settlement.

Peng Liu, Editor-in-Chief of Tencent Finance, engaged in a deep dive with Bin Chen, General Manager of Wanxiang Blockchain, and Ming Wu, CTO of Shanghai TreeGraph Blockchain Research Institute, exploring “How will Industrial Blockchain Evolve”. Bin Chen pointed out that while industrial blockchain is gradually integrating with the real economy, there is still lack of blockchain awareness among industries. Ming Wu believed that industrial blockchain is already mature, although challenges abound in technology, ecosystem, standardization, and business models.

In their fireside chat “Exploring the US’ current landscape and hottest trends in Web3”, Wanxiang Blockchain Labs General Manager Yu Du discussed some of the most attractive Web3 topics with Kevin M. Goldstein, Co-Founder & Managing Partner of Kee Global Advisors, such as US presidential election and Web3, the US government and US stablecoins, and traditional institutions’ opportunities in crypto ETFs.

In the panel discussion “RWA Opportunities, Challenges and Prospects” joined by Anna Liu, General Manager of Tokenisation at HashKey Group, Kane Yip, Partner of RuiHe Capital, Yaling Liao Co-Founder of TLay, and Ethan Li, Head of Products, Bosera Asset Management (International), topics were mainly discussed around RWA. Kane introduced five types of assets that Ruihe Capital focuses on: green electricity, renewable energy, AI computing power, real estate, commodities, and consumer industrial-financial integration. Ethan Li believed RWA will be helpful to the inclusive finance. Yaling Liao pointed out that the most suitable assets for RWA should be highly digitalized and produce long-term predictable returns.

There was also an insight-provoking panel during the event joined by Tongtong Bee, Co-Founder and Editor-in-Chief of PANONY & PANews, Lei Kong, Head of Web3 Solution Architect at AWS, Gokhan Er, Managing Director of IOSG Ventures, and Aaron Tsu, Growth Officer of AGI Open Network. They believe that while significant progress has been made in Web3 infrastructure, attention still needs to be paid to scalability, security, and user experience.

During a roundtable focusing on Web3 security, Joe Zhou, Deputy Chief Editor at Foresight News, Kang Li, Chief Security Officer at CertiK, Yajin Zhou, CEO & Co-Founder of BlockSec, and Qifu Zhong, Partner & CPO of SlowMist pointed out that AI technology has exacerbated security issues in devices, systems, private key management, and system design, while also introducing new social engineering tactics such as phishing attacks and AI-generated face swaps. It also greatly improved the efficiency and accuracy of audit reports.

In their panel discussion “The Transformation of the Energy Industry Powered by Distributed Energy and Web3”, Ivy Peng, Founder of Zillion Intelligence and Co-founder of Yunhe Capital, Leo Lin, Founder of Arkreen, and John Chen, VP of Sungrow iCarbon gathered to explore distributed energy. Leo pointed out that blockchain and Web3 will play a valuable role in energy transformation. John believed that Web3 will reshape the energy industry by making energy production more transparent.

The summit concluded with Dr. Feng Xiao’s closing speech “Redefine token in the era of AGI”. He reviewed the three cognitive revolutions of humanity and pointed out that in the AGI era, tokens, as units of data and indicators of value, have become increasingly important. He elaborated on the five stages of AGI development, saying that AI technology is developing rapidly and that AGI will enter a higher stage. Tokens have become measures of value, and algorithms, computing power, and data have become new factors of production.