"Hong Kong Will Take the Lead in Global Virtual Asset Market" [Road Interview in HK]

Gate.io Strategic Lead Road Interview

Hong Kong Pursuing Government-level Web3 Promotion Policies

Positive Development in Global Virtual Asset Regulation

Focus on DAO, Data Sovereignty, and AI

Bloomingbit met with Leo, Head of Strategic Planning and Collaboration at global virtual asset (cryptocurrency) exchange Gate.io, at the world's largest blockchain conference 'Consensus Hong Kong 2024' held at the Hong Kong Convention Centre (HKCEC) on the 19th (local time).

Leo evaluated recent changes in global virtual asset regulations very positively. He said, "The development of virtual asset regulations across Asia, including Hong Kong, is having a significant impact on institutional investors and virtual asset companies," adding, "In particular, the Hong Kong government is increasing market transparency by introducing a virtual asset exchange licensing system and establishing clear regulatory frameworks. These changes are leading to increased institutional participation."

Hong Kong is strengthening its position as a 'blockchain hub.' Since 2023, government agencies have been actively pursuing Web3 promotion policies, including tokenized green bonds and multi-currency issuance. Leo stated, "Hong Kong continues to develop its virtual asset regulatory environment alongside its status as a global financial hub, and has a high possibility of taking the global leadership beyond Asia," and predicted that "the regulatory environment and industry ecosystem development in each country will be major competitive factors going forward."

Regarding Korea's regulatory situation, he mentioned that positive changes are emerging. He said, "Korea shows a strong position in Web3 technology development and industry ecosystem formation, and while the regulatory situation remains complex, positive changes are progressing," adding, "The government is pursuing policies to promote blockchain technology utilization and innovation, laying the foundation for companies to emerge with global competitiveness."

He identified Decentralized Autonomous Organizations (DAO), data sovereignty, and Artificial Intelligence (AI) as narratives that will lead the future Web3 market. He said, "Data sovereignty is developing in a direction that strengthens privacy protection while allowing users to directly own and manage their asset data, and DAOs promote community-centered cooperation and resource sharing through decentralized decision-making structures," adding "These elements will further accelerate Web3 user participation and innovation."

Regarding the convergence of AI and blockchain, he diagnosed, "AI is a tool to accelerate blockchain technology industry innovation, capable of analyzing large amounts of data and recognizing patterns for transaction optimization and risk management," and "Combining AI with blockchain security infrastructure can greatly improve automation and transparency. From a financial services perspective, it can contribute to efficiency and creating new customer experiences."