“Convergence of Major Exchanges in ‘Hit AI & Blockchain’ Summit: Exploring the Future Direction of Virtual Assets”
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HOYA BIT calls for the integration of Web3 and AI, highlighting their significant narrative space and their potential as future trends!
What fundamental concepts should be established for investing in virtual assets?
Legal compliance and asset protection measures for centralized exchanges
Sharing innovative and development directions for exchanges
The 7th “Hit AI & Blockchain” Artificial Intelligence and Blockchain Industry Summit was held at the Sheraton Grand Taipei Hotel, attracting numerous industry heavyweights. This summit focused on the practical applications of artificial intelligence, the development of NFTs and the metaverse, the cybersecurity applications in the Web3 field, and the current status of virtual asset regulation in Taiwan, and explored the development trends of the virtual asset market.
During the summit, former Minister of the National Development Council, Chen Mei-ling, pointed out that the native internet generation in Taiwan has the opportunity to stand on the global stage, particularly emphasizing the opportunities brought by Web3. She hopes that Taiwan’s electronic industry giants can collaborate with internet startups, injecting more capital and resources to promote a positive cycle of “soft drives hard.” Chen Mei-ling emphasized that the Taiwanese government and public sectors should play the role of facilitator, and the development of emerging industries is still driven by young and dynamic startup teams.
In the investment workshop, hosted by the founders and chief editors of KNOWING News, BitAsset Finance, and Strontium Technology, Yang Fang-ru, and featuring HOYA BIT founder and CEO, Peng Yun-xian, BitTrust deputy general manager, Chen Yi-ling, Rybit founder and CEO, Lai Yong-jun, and Far Eastern International Bank’s digital financial business group deputy general manager, Dai Song-zhi, the participants delved into the international virtual asset market trends, regulatory mechanisms, and fundamental investment concepts.
The workshop used the FTX scandal as a starting point to discuss the important fundamental investment concepts that Taiwanese virtual asset investors should establish. HOYA BIT CEO, Peng Yun-xian, emphasized the importance of risk diversification and investor education, advising investors to diversify their risks and not put all their eggs in one basket. Different individuals have different risk tolerances, and investors need to understand the basic knowledge of blockchain, virtual assets, and exchange operations, as well as the high volatility of virtual assets. They also urged investors to avoid borrowing money for cryptocurrency trading to avoid excessive risks. Dai Song-zhi from Far Eastern International Bank emphasized the importance of asset allocation and provided different asset allocation recommendations based on different age groups.
Regarding the legal compliance of exchanges and the protection of investor assets, the participants proposed a series of necessary measures. HOYA BIT emphasized the importance of self-regulation and user education for exchanges before the government establishes specific laws. Peng Yun-xian shared that HOYA BIT recently discovered a large number of users flowing to the same address. The exchange activated an alert mechanism and reminded other investors, which incurred a significant manpower cost for individual reviews. Fortunately, they successfully intercepted potential scams in real-time, safeguarding the assets of investors. Scams are prevalent, and exchanges should strive to control every aspect. Regarding the protection of user assets, exchanges should implement multi-level asset protection measures, including user fiat funds trust services, cold and hot wallet management, insurance, and clearly separate and safeguard user assets from their own assets to ensure the legality and security of user assets. Dai Song-zhi from Far Eastern International Bank stated that banks have also experienced what the virtual asset industry is currently going through, and they firmly believe that compliance is what earns customer trust, and trust is what activates the industry. They will protect investor assets through the joint defense mechanism of banks and virtual asset exchanges.
Lastly, the participants shared the innovative and development directions of exchanges in the virtual asset market. HOYA BIT aims to introduce and promote a wider understanding of the cryptocurrency market and virtual assets and drive the popularization of Web3. Peng Yun-xian stated, “I firmly believe that Web3 has even more diverse development possibilities. Web3 and AI have a lot of room for imagination, and they are definitely future trends.” Dai Song-zhi from Far Eastern International Bank emphasized the need for imagination in the future development of Web3 and stated that trust is the key to driving industry activity.
This summit provided a platform for in-depth discussions on hot topics such as AI, blockchain, and virtual assets, which will contribute to the innovation and development of Taiwan in these fields. The success of the “Hit AI & Blockchain” summit showcased the vitality and potential of Taiwan in the fields of artificial intelligence, blockchain, and virtual assets. We look forward to the future development of these fields bringing more opportunities and challenges to Taiwan’s technology industry.
Learn more:
HOYA BIT Official Website:
https://lihi1.me/0ZxRO
HOYA BIT App iOS Version:
https://lihi1.me/BHPpE
HOYA BIT App Android Version:
https://lihi1.me/GqYfK
Hit AI & Blockchain
HOYA BIT
Exchange
Taiwan
Further reading
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