Wow Summit Hong Kong impressions
Our CEO & Co-Founder, Phong Dao, participated as a speaker at the WOW Summit, a flagship large-scale Web3 event of the year, officially supported by the Hong Kong Tourism Board and InvestHK with over 5000 attendees from around the globe. In his talk "Discovering hidden fortunes with asset tokenization", he presented real use-cases and his practical experiences from Europe and MENA.
Phong's insights of the Hong Kong trip:
Virtual assets are currently a hot topic in Hong Kong, with strict regulations and the publication of a consultation paper by the Securities and Futures Commission (SFC). While this may slow down innovation, it also provides a barrier to entry that benefits licensed and trusted companies seeking to enter the market. Companies are gearing up for virtual assets, and it will be interesting to see what happens officially in June/July.
The business culture in Hong Kong is unique, with a focus on building personal relationships to foster potential synergies. At events, it's clear that networking and meeting new people can lead to new business opportunities. This positive energy is infectious, and it's essential to be in Hong Kong to make connections that can lead to business success.
Hong Kong's technology scene has been mostly closed off for the last few years, but it's starting to open up again with the establishment of the new "Virtual Asset Hub." There are already excellent technologies in areas like gaming, lending, and crypto trading. However, there is still a gap in the compliant virtual asset infrastructure for tokenization. As a company that has completed several tokenization projects, iVE.ONE sees an opportunity to fill this gap and help foster the growth of virtual assets in Hong Kong.
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