Xiao Feng: Industry Compliance, Bitcoin L2 Protocol, Hong Kong Open Policy, DeFi and ChatGPT Are Five Key Trends In Crypto

Xiao Feng: Industry compliance, Bitcoin Layer 2 protocol, Hong Kong open policy, and DeFi and ChatGPT are the four key trends in the crypto industry.

At the “FORESIGHT 2023” annual summit jointly hosted by Foresight Ventures and Foresight News, Xiao Feng, Chairman and CEO of Wanxiang Blockchain, and Chairman of HashKey Group, delivered a keynote speech. He outlined four key trends in the crypto industry. The first trend is industry compliance. Recently, US regulatory agencies have taken a series of strict regulatory measures, and the trend towards stricter enforcement will affect most countries or regions around the world, which essentially means the beginning of the compliance of the crypto industry. The second trend is the Bitcoin Layer 2 protocol, which will drive the further expansion of the Bitcoin network and its applications, changing the definition of Bitcoin, and representing a great opportunity for value discovery in Bitcoin. The third trend is the open policy in Hong Kong. The steady advancement of Hong Kong’s “Virtual Asset Policy Statement” represents Hong Kong’s return to the center of the market on behalf of Asia, and the imminent release of Hong Kong’s international financial center 2.0 version. The fourth trend is token economics. DeFi represents a new financial market system that adapts to the digital economy, and token economics adapts to Web3 business applications. Lastly, ChatGPT is the distributed ledger for AGI.