"High-end Dialogue" Kong Jianping, Director of Hong Kong Cyberport: Hong Kong's position in the field of Web 3.0 is significantly improving.

Article Author: Echo, MetaEra Article source: MetaEra Since the release of the 'Policy Statement on the Development of Virtual Assets in Hong Kong' in 2022, Hong Kong has been rapidly advancing in the Web 3.0 arena, demonstrating unprecedented vitality and ambition. From legislative support to regulatory innovation, from the issuance of Non-fungible Tokens during Fintech Week to the tokenization of green bonds, from stablecoin sandboxes to OTC consulting, Hong Kong is step by step establishing itself as a global center for virtual assets. This issue is the first issue of the "Hong Kong Web3 Leaders Interview", and we are fortunate to have invited Mr. Kong Jianping, an important member of the Hong Kong Web 3.0 Task Force, a director of Cyberport, and the founder of Nano Labs, to share his profound insights on the future development of Web 3.0 in Hong Kong.

MetaEra: Since 2012, you have been involved in the blockchain industry and have successfully captured multiple industry trends. Based on your rich experience, how do you think one can accurately capture and utilize the opportunities of industry development? Kong Jianping: I think the key lies in the industry itself having growth potential and certain industry dividends. Perhaps because I learned about the blockchain industry and entered it in 2012, the timing of entry was relatively good. Secondly, it is necessary to continue to cultivate in the industry. If you cannot persist at the table, many entrepreneurs will eventually be eliminated. The development of the Web 3.0 industry has obvious periodicity and volatility, so it is very important to persistently deepen the development in the industry. Third, one should maintain an open mind and reduce prejudices against new things. New industries often come with prejudices against new things. We need to reduce prejudices against emerging industries. Perhaps we do not understand when new things first appear, but as we get more involved, many things will gradually become clear. MetaEra: In your opinion, which areas or tracks in the Web 3.0 industry do you think Hong Kong has great potential and advantages to stand out on the global stage? Kong Jianping: Hong Kong has several significant advantages in the field of Web 3.0. First, Hong Kong has tried to develop the Internet in the Web 2.0 era and has relevant experience. Although the results were limited, the situation is different from the current Web 3.0 era. Initially, Hong Kong's Web 2.0 development followed the theory of the wooden barrel, which required filling the gaps in talent, funding, technology, etc., but Hong Kong is a small region with a limited population, making it difficult to fully make up for all the shortcomings. However, the development of Web 3.0 follows the theory of the long tail, as long as there is an aspect of strength, whether it is talent, funding, policy, or law, breakthroughs can be achieved. From a legal perspective, Hong Kong's legal system has transparency and sustainability characteristics globally, which is a major advantage. In addition, Hong Kong has implemented an exchange licensing system and has attracted many outstanding talents from mainland China to start businesses. It also hosts various global conferences to attract Web 3.0 enthusiasts from around the world to start businesses in Hong Kong. The government also holds an open attitude towards the development of Web 3.0. Furthermore, Hong Kong is a financial center in itself, and its financial position has been continuously rising in recent years, making its financial advantage even more remarkable. Considering these factors, I believe that Hong Kong is one of the few regions in the world with great development prospects in the Web 3.0 industry. MetaEra: Just announced on October 13th to strengthen the Hong Kong technology talent admission scheme, saying that it will moderately consider expanding the scope of the benefiting industry to cover more emerging technology fields, such as blockchain. How do you view the role of Hong Kong's educational resources in cultivating the next generation of Web 3.0 talents? Do you have any plans to cooperate with universities in Hong Kong? Kong Jianping: Hong Kong has spared no effort in talent introduction in the past two years. For example, the previous elite plan approved only about 2,000 cases per year, but now through the high-level personnel plan, the elite plan and other talent introduction policies, almost every year there is no upper limit on the number of admissions. This shows Hong Kong's tremendous efforts in talent attraction; second, Hong Kong's educational resources are very rich, with several universities ranking among the top 100 in the QS ranking. For example, the University of Hong Kong has already offered courses related to Web 3.0, and I have been serving as a mentor for related courses. MetaEra: MetaEra has recently undergone a brand upgrade, with a greater focus on organizing industry events. As a heavy participant in industry events, from 'Riding the Waves in Fragrant Harbour' to the previous Web 3.0 Summit, you have also participated in and promoted many activities to expand the influence of Web 3.0 in Hong Kong. You have also promoted MetaEra's exposure as a Hong Kong media outlet in the industry. Can you share the stories behind these exciting events? Kong Jianping: Hong Kong itself is a city of events, and it has shown great potential in the development of Web 3.0. Although in the past, due to the uncertainty of Hong Kong's development in Web 3.0, there was a lack of systematic activities. However, since the Hong Kong government released the "Policy Statement on the Development of Virtual Assets in Hong Kong" in 2022, MetaEra has taken the lead in the industry and organized the largest Hong Kong-themed Twitter Space, and the promotion of Hong Kong's Web 3.0 ecosystem has been growing louder. Since then, whether it is the Hong Kong Web3.0 Carnival, the Bitcoin Conference, or the Consensus Conference that may enter Hong Kong next year, more and more industry conferences have chosen to land in Hong Kong. Essentially, this is because Hong Kong is becoming more and more suitable for the development of Web 3.0, and the Web 3.0 industry is also increasingly focusing on Hong Kong. This is a two-way choice and pursuit. MetaEra: You have participated in many industry conferences and events. What is your overall feeling about the industry events held around the world now? Kong Jianping: The differences in industry events held in various places are significant. In the past two years, the United States has not been as active in conferences and events as Hong Kong and Singapore, which may be related to the strict regulation in the United States in recent years. Many exchanges in the United States dare not carry out large-scale substantial promotion. Although the events in Dubai are lively, there are actually not many entrepreneurs who have been living in Dubai for a long time. Singapore did accumulate great momentum through events in the past few years and achieved some industry results, but the greatest potential lies in Hong Kong. Its overall growth has been steady, with new large conference brands constantly entering, while other places have ups and downs, Hong Kong has been consistently growing. MetaEra: In the current context of numerous industry conferences, what do you think is the role of these conferences in promoting industry development? What advice do you have for organizing conferences? Kong Jianping: Industry conferences play multiple roles in promoting industry development, and their value is mainly reflected in several aspects. Firstly, they enhance communication within the industry. This industry is essentially highly distributed, and conference activities can bring everyone together for efficient communication, which can help more good projects and tracks stand out. Secondly, they have the function of education and popularization for the whole society. For people who want to learn and enter this industry, conferences are a good opportunity for learning and communication. Thirdly, for the host city of the conference, these activities bring significant benefits to its local industry ecosystem construction and growth. MetaEra: Among the various forms of meetings, which type of activity do you personally prefer to participate in? Kong Jianping: During the conference, some relaxed small-scale gatherings have highly efficient and in-depth discussions on topics like Depth. Large forums often follow a one-way sharing mode. In contrast, in-depth exchanges in small groups can provide me with a deeper understanding of certain fields or tracks, and the absorption of information will be more effective. Of course, people at different stages have different understandings and demands for the industry. If you need more information output or want to make more connections, large-scale events are a good choice. MetaEra: Hong Kong has launched a series of Web 3.0 Favourable Information policies. As an important member of the Hong Kong Web 3.0 Task Force and a director of Cyberport, you are at the forefront of promoting the construction of the Web 3.0 ecosystem in this treasure land. Could you share with us some specific plans that Hong Kong has in promoting the construction of the Web 3.0 ecosystem? Kong Jianping: From the earliest policy manifesto in Hong Kong in 2022, to the first appearance of content about Web 3.0 in the financial budget, to the allocation of HKD 50 million through Cyberport to support the industry's development, we have seen Hong Kong's clear commitment to and support for the Web 3.0 field. During this time, excellent global public chains and projects have come to Hong Kong for development. After the improvement of the exchange licensing system, new exchanges have also been approved by the SFC. We have also seen the launch of a stablecoin sandbox, consultations on OTC policies, and the promotion of RWA by the private sector, and so on. Hong Kong's legislative work in the core industrial chain of the blockchain is continuing to make progress step by step. This provides corresponding legal support and infrastructure for the development of the Web 3.0 industry in Hong Kong. MetaEra: With the update of Hong Kong's regulatory system for virtual asset trading, how do you think this will affect the operational strategies and business models of Web 3.0 project companies? Kong Jianping: The essence of regulatory updates is essentially to strengthen the regulation of exchanges and related institutions. We have observed that many exchanges that were originally unlicensed in Hong Kong will be unable to continue operating after the transition period, which will undoubtedly purify the market environment and raise the overall industry standards. For exchanges that have already obtained licenses, this will be an opportunity for them to more effectively market and provide customer service. In the long run, this trend of compliance has profound significance for the stable development of exchanges and the protection of investor interests. MetaEra: Can you look ahead and predict the achievements that Hong Kong may make in the field of Web 3.0 and its position in the global Web 3.0 industry map within the next 5 years? Kong Jianping: Over the next five years, Hong Kong's achievements in the field of Web 3.0 will depend on the development trend of the entire industry. In the past year, Web 3.0+AI, DePIN, and RWA have all shown new narratives and development momentum. From a macro perspective, Hong Kong's position in Web 3.0 is expected to surpass its position in Web 2.0, and even surpass its position as a traditional financial center. With its comprehensive advantages in talent, capital, information, and industry chain funding, Hong Kong has demonstrated stronger competitiveness in key tracks such as finance, DePIN, and RWA in Web 3.0 than areas like Singapore and Dubai. Therefore, the future of Web 3.0 is bound to happen in Hong Kong, which is also destined to take a leading position in the future Web 3.0 cities. In systematic competition, perhaps only the United States can rival Hong Kong at present. Although London, UK, is a traditional financial center, its development in the field of Web 3.0 is evidently not as strong as Hong Kong's. Hong Kong's position in the field of Web 3.0 is experiencing significant enhancement, and its potential and influence cannot be ignored. MetaEra: Could you share some valuable advice and guiding principles for young entrepreneurs who have dreams and hope to make a big impact in Web 3.0? Kong Jianping: First, it is crucial to stay at the table continuously, otherwise you will not be able to capture the dividends of the industry's outbreak. Second, Web 3.0 is too close to money, so don't get too addicted to speculation. Before grasping the industry's fundamentals, do not let yourself fall into financial difficulties. Third, under the premise of good risk control, continue to delve deep and seize the opportunities to capture industry dividends.