tl;dr
Xiao Feng, Chairman and CEO of HashKey Group, delivered a keynote at the 2025 Hong Kong Web3 Festival, emphasizing blockchain technology's impact on global financial infrastructure. He highlighted the need for financial innovation alongside industrial revolutions, and the regulatory and market evolu...
HashKey Group Chairman and CEO Xiao Feng delivered a keynote at the 2025 Hong Kong Web3 Festival, highlighting blockchain technology's impact on global financial infrastructure. He emphasized the need for financial innovation in the context of industrial revolutions, alongside regulatory changes and market evolution related to blockchain. The event aims to position Hong Kong as a strategic testing ground for blockchain technology, featuring high-profile regulators and industry panels, as well as networking events. Xiao noted the differences between traditional and blockchain-based finance, and highlighted the significance of regulatory changes, market evolution, and Hong Kong's strategic role in supporting blockchain technology and cryptocurrency finance.
Xiao emphasized historical parallels between technological and financial evolution, and predicted that cryptocurrency finance will become the core financial innovation supporting the fourth industrial revolution. He also pointed out key differences between traditional and blockchain-based finance, such as the shift from bank accounts to digital wallets and the move from batch settlement systems to instantaneous transaction completion. Xiao noted the significance of the U.S. Securities and Exchange Commission's recent decision and highlighted the major stock exchanges' movements toward 23-hour trading cycles, in comparison to blockchain markets operating continuously.
The event also features high-profile regulators from Hong Kong, including the Financial Secretary, the Under Secretary for Financial Services and the Treasury, the Executive Director of Investment Products at the Securities and Futures Commission, and the Chief Fintech Officer of the Hong Kong Monetary Authority. Analysts view Hong Kong’s supportive stance as a strategic testing ground for blockchain technology, potentially informing future policies across the broader Chinese economy. The festival continues with industry panels, demonstrations, and networking events, bringing together blockchain developers, investors, and technology enthusiasts from around the world.