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Hong Kong FinTech Week 2023 “Fintech Redefined.”

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1 year ago

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Invest Hong Kong (InvestHK) today (October 18) unveiled details of Hong Kong FinTech Week 2023 (HKFW). The eighth edition of HKFW, themed “Fintech Redefined.” will take place from October 30 to November 5. This flagship event lies at the core of global fintech innovations and aims to shape the future of fintech across various dimensions of financial services and beyond.

Gathering global leaders at the forefront of innovation, technology, and finance

Organised by the Financial Services and the Treasury Bureau (FSTB) and InvestHK, and co-organised by the Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC) and the Insurance Authority (IA), HKFW is set to attract more than 30 000 attendees and garner over 5 million online views from more than 90 economies.

Over 300 distinguished speakers and 540 exhibitors are expected to join the main physical conference taking place between November 2 and 3 at the Hong Kong Convention and Exhibition Centre.

This year’s conference will bring together global leaders and world-leading fintech innovations to explore the future development of fintech through six key themes – global regulations and focuses such as sustainable and green finance; funding and venture capital as well as family office investments; exploring the realms of artificial intelligence (AI), Web3 and emerging frontiers; unveiling the latest opportunities within the dynamic Greater Bay Area; Hong Kong’s innovation journey; and business showcases.

The Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, said, “Hong Kong’s fintech industry is entering a new era, where it is no longer solely about technology but also its real-life application. We are excited to witness this transformation and its impact on the financial ecosystem. The upcoming HKFW 2023, with its theme ‘Fintech Redefined.’, will serve as a remarkable platform to showcase pioneering advancements and opportunities in the industry, demonstrating how the real-life applications of fintech can improve financial inclusion, enhance customer experience and drive sustainable growth.”

New models, rules and value creation

Various captivating metaverse experiences will also feature at this year’s conference, presenting cutting-edge technologies under immersive and educational engagements. The experiences will also demonstrate the possibilities of the metaverse in connecting business and promoting Hong Kong culture through virtual games and augmented and virtual reality devices.

In addition, the cross-boundary Greater Bay Area Day will be resumed on October 31, presenting ample opportunities and synergies between Hong Kong and Shenzhen. A full day forum will be organised in Shenzhen, followed by a series of concurrent company tours to Mainland tech giants.

There will be dedicated spaces such as the Investor Lounge, Venture Stage, workshops and events specifically designed for investors. Additionally, InvestHK is excited to introduce the Women in Tech Lounge, a unique space with special workshops, panels, and networking events tailored to empower and connect women in the tech industry.

The Acting Director-General of Investment Promotion of InvestHK, Dr Jimmy Chiang, said, “Hong Kong FinTech Week is the ultimate gathering for anyone eager to explore the frontiers of finance and technology, and witness the deepening collaborations within our thriving ecosystem as well as exciting convergence across diverse industries. Continuously pushing the boundaries of excellence, we are thrilled to have HKFW as an anchor event of VIVA HONG KONG, a remarkable lineup of financial, tech, Web3 and cultural events from the end of October to November, bringing together industry leaders, innovators, and startups from around the world to be part of the dynamic momentum reinforcing Hong Kong’s status as Asia’s World City, financial centre and fintech hub.”

InvestHK will also host the much anticipated grand finale of the Global Scaleup Competition. The event will feature 13 finalists carefully selected by a panel of 50 international judges, including investors who collectively manage over US$54 billion in assets. This event is part of the broader Global Fast Track 2023 programme, which aims to foster connections between fintech firms, corporate clients, investors, and industry partners. This year, the program received an overwhelming response, with over 500 applications from 63 economies worldwide, setting a new record.

List of esteemed speakers at the main conference:

Hong Kong Special Administrative Region Government and regulators:

  • The Chief Executive, Mr John Lee;
  • The Financial Secretary, Mr Paul Chan;
  • The Secretary for Financial Services and the Treasury, Mr Christopher Hui;
  • The Secretary for Innovation, Technology and Industry, Professor Sun Dong;
  • The Acting Secretary for Commerce and Economic Development, Dr Bernard Chan;
  • The Chief Executive of the HKMA, Mr Eddie Yue;
  • The Chief Executive Officer of the SFC, Ms Julia Leung;
  • The Chief Executive Officer of the IA, Mr Clement Cheung;
  • The Under Secretary for Financial Services and the Treasury, Mr Joseph Chan;
  • The Director-General of Office for Attracting Strategic Enterprises, Mr Philip Yung; and
  • The Acting Director-General of Investment Promotion of InvestHK, Dr Jimmy Chiang.

Mainland Government and regulators:

  • The Director of the Guangzhou Municipal Local Financial Supervision and Administration, Mr Qiu Yitong;
  • The Director of the Shenzhen Municipal Financial Regulatory Bureau, Mr He Jie;
  • The senior representative of the Shanghai Stock Exchange; and
  • The senior representative of the Shenzhen Stock Exchange.

Industry leaders:

  • The Chief Executive Officer of Citi Hong Kong & Macau, Ms Aveline San;
  • The Group Chief Executive of Standard Chartered PLC, Mr Bill Winters;
  • The Co-Founder and Chief Executive Officer of Coinbase, Mr Brian Armstrong;
  • The Chairman of Longling Capital, Mr Cai Wensheng;
  • The Chief Executive Officer of Yuga Labs, Mr Daniel Alegre;
  • The Global Head of Christie’s Ventures, Mr Devang Thakkar;
  • The Chairman of Wanxiang Blockchain and HashKey Group, Dr Xiao Feng;
  • Corporate Vice President of Tencent, Head of Tencent Financial Technology, Mr Forest Lin;
  • The Chief Economist of Circle International Financial, Mr Gordon Liao;
  • The Chief Executive Officer of J P Morgan Hong Kong and Head of Strategy Asia Pacific, Ms Harshika Patel;
  • The Vice President and Chief Information Officer of WeBank, Mr Henry Ma;
  • The Chief Executive Officer and Co-Founder of Crypto.com, Mr Kris Marszalek;
  • The Chairman and Chief Executive Officer of Sinovation Ventures and the President of Sinovation Ventures Artificial Intelligence Institute, Dr Lee Kai-fu;
  • The Chief Executive Officer and Managing Director of General Catalyst, Mr Hemant Taneja;
  • Partner of Qiming Venture Partners, Mr Kuantai Yeh;
  • The Chairman of Hong Kong Exchanges and Clearing Ltd, Mrs Laura Cha;
  • Founding Partner of Hillhouse Capital, Mr Luke Li;
  • The Managing Member of The Department of XYZ and the Board Director of Gemini, Mr Matthew Homer;
  • The Global Partner of Fosun, the Co-Chairman of the board and the Chief Executive Officer of Fosun Capital, Mr Mike Xu;
  • The Chairman and Chief Executive Officer of Ledger, Mr Pascal Gauthier;
  • The Co-Founder and Chief Operating Officer of The Sandbox, Mr Sebastien Borget;
  • The Co-founder and Executive Chairman of Animoca Brands, Mr Siu Yat;
  • The Chief Executive of Bank of China (Hong Kong), Mr Sun Yu;
  • The Global Head of Product of Wise, Mr Surendra Chaplot;
  • The Group Executive of the HSBC Group and Co-Chief Executive of HSBC Asia- Pacific, Mr Surendra Rosha;
  • The Co-founder of Chainlink, Mr Sergey Nazarov;
  • The Chief Executive Officer of Onyx by J P Morgan and the Global Head of Financial Institution Payments, Mr Umar Farooq; and
  • The Co-Founder and Chief Executive Officer of Digital Asset, Mr Yuval Rooz.

HKFW will also include a series of fantastic events under VIVA HONG KONG featuring a diverse range of financial, tech, Web3 and cultural events throughout the city such as ApeFest Hong Kong, the Global Financial Leaders’ Investment Summit and the StartmeupHK Festival. More information   of   VIVA HONG   KONG   can   be   found at www.fintechweek.hk/viva-hk.

Selected keynote sessions will be live-streamed via the official HKFW app and YouTube channel, as well as several metaverses including in Mainland China.

Further information can be found at https://www.fintechweek.hk/, or follow via official social media accounts:

LinkedIn: Hong Kong Fintech Week

YouTube: https://www.youtube.com/c/HongKongFinTechWeek

About Hong Kong FinTech Week

Hong Kong FinTech Week 2023, organised by the FSTB and InvestHK, and co-organised by the HKMA, the SFC and the IA, is Asia’s global financial technology event for scaling new heights. It is expected to host over 300 speakers, 540 sponsors and exhibitors, welcoming over 30,000 attendees and attracting over 5 million views from over 90 economies to the event. The week-long event will feature multitrack conferences with prominent speakers, exhibitions, a deal floor, workshops, networking and satellite events, demo sessions and metaverse experiences.

About InvestHK

InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment. It has set up a dedicated fintech team in Hong Kong to attract the world’s top innovative fintech enterprises, start-up entrepreneurs, investors, and other stakeholders to set up and scale their business via Hong Kong into Mainland China, Asia, and beyond. For more information, please visit www.hongkong-fintech.hk.

Media enquiry:

Adrianna Lau

+852 3756 8615

Adrianna.Lau@edelman.com

Bonita Wong

+852 2837 4758

Bonita.Wong@edelman.com

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Press Release

The Key to Mass Adoption: QuantumFusion’s Developer-Friendly SDK

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1 hour ago

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November 22, 2024

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  • Why dApps Haven’t Reached the Mainstream

Blockchain technology has long promised to revolutionize our digital interactions, yet widespread adoption remains slow. Other than the battle for regulatory clarity necessary for institutional capital to flow into DeFi and other utility sectors, there are three key fundamentals we believe are currently inadequate for mass adoption:

  1. Speed
  2. Cost
  3. Reliability

Ethereum has the largest DeFi market cap by a significant margin; according to DeFiLlama, over 60% of the total value locked in DeFi is on Ethereum, even higher if you bundle in its Layer-2 solutions, like Arbitrum and Optimism. 

But nobody can reliably use Ethereum at a reasonable cost. Data from Etherscan gives an average of $23.36 per swap as of 11/18/2024, completely unfeasible for the average user. Additionally, Ethereum’s time to settle a transaction (finality) of 12-15 minutes and the very low transaction per second the network can handle (15-30 TPS) is not up to the task of mass adoption. 

We’ll give Ethereum its due; it is extremely reliable, and this is a contributing factor in its dominant position within the DeFi space. Everyone wants to build on Ethereum, but relatively few can afford to use what is being built. 

You might have heard people say, “Solana has none of the issues facing Ethereum; it’s cheaper and faster!”

And they’d be correct, but only on the speed and cost front. 

One of the critical issues facing Solana is reliability. Blockchain outages cause the near-complete shutdown of all on-chain activities. During these outages, many are left helpless, watching themselves get liquidated and unable to do anything about it. To put it simply, fast and cheap is only useful if you aren’t left with your pants down when the network crashes. 

All of this is to say the user experience for most dApps is not where it needs to be: useable but nowhere near the standard of Web2. As seen in the case of Ethereum, utility developers want to build on a chain that won’t break, has excellent performance characteristics, and, most importantly, is developer-friendly.

We don’t have to reinvent the wheel. No advancement in computing is required; we’re not talking about a theoretical, futuristic concept that will take decades to realize. 

Henry Ford didn’t invent the car, he just figured out how to make them faster and more efficiently than everyone else.

QuantumFusion is to the blockchain industry what Ford was to the auto industry.

But how?
High Transaction Throughput for a Seamless User Experience

QuantumFusion’s infrastructure revolutionizes transaction speed and cost, addressing the limitations of slower blockchains like Ethereum. Powered by the SPIN (Short-term Parallel Incremental Network agreement) consensus protocol, it achieves 0.1-second block finality, enabling real-time transactions without bottlenecks or delays–essential for applications like gaming or high-frequency trading.

Faster, cheaper transactions significantly enhance user experience, reducing frustrating wait times and making blockchain applications practical for everyday use. Scalability is central to QuantumFusion’s design, supporting high-demand, real-time applications without congestion. 

With 100-millisecond finality and targeting 10,000+ TPS, QuantumFusion enables a plethora of blockchain applications:

  • Real-time social networks with real-time posts and interactions.
  • Blockchain gaming with secure, verified assets and actions.
  • Financial applications with fast, reliable settlements comparable to centralized exchanges.
  • Collaborative tools for seamless decentralized teamwork; on-chain Google Docs.

Unlike networks that struggle under heavy loads, QuantumFusion embraces them by balancing speed, cost, and reliability, enabling a robust ecosystem for developers and users alike. 

QuantumFusion sets the stage for blockchain’s mainstream adoption.

QuantumFusion’s Native-First SDK: Simplifying Development for Mass Adoption

For blockchain to achieve mass adoption, developers need tools that are powerful, intuitive, and designed with real-world usability in mind. QuantumFusion’s native-first SDK aims to redefine how dApps are built, focusing on seamless integration and superior performance in both desktop and mobile environments—where users increasingly interact with technology.

Most crypto participants are using their mobiles; as of January 2024, 63% of visitors to Kraken’s website accessed the platform via mobile devices, while just 37% used desktop computers.

To meet market demand, it is essential to cater to mobile users. To do that, the infrastructure must build a development environment with that in mind. QuantumFusion has built its SDK utilizing light clients like Smoldot to provide mobile users with real-time, low-latency experiences.

Unlike many existing platforms that prioritize web-first development, QuantumFusion’s SDK delivers a native-first approach, enabling dApps to feel as intuitive and responsive as traditional Web2 applications. 

Additionally, through Smoldot, QuantumFusion’s SDK supports WebAssembly, enabling developers to work in their preferred programming languages–this acts as a talent multiplier; the pool of potential developers is huge. Empowering the creation of complex, scalable applications from DeFi platforms to real-time gaming is half the battle; attracting the creators is key.

The goal of the SDK is to create a future-proof environment where developers can create dApps for the end-user without being forced to optimize for desktop in a world where everyone is using mobile. Bridging the gap between user-friendly tools and blockchain innovation ensures developers can focus on building dApps that not only perform but also captivate.

QuantumFusion’s SDK is more than a toolkit—it’s the key to unlocking the QuantumFusion blockchain’s potential, paving the way for mainstream adoption with simplicity, efficiency, and accessibility at its core.

Join the QuantumFusion Revolution

Web3 has immense potential, but the issues of speed, cost, and reliability are barriers to a smooth user experience. No one will use infrastructure that only works sometimes, and even when it does, it costs a small fortune and an unreasonable length of time to do anything worthwhile.

If the Web3 experience isn’t at least on the same level as Web2, then how are we going to attract mainstream attention?

QuantumFusion is breaking through these limits with an ecosystem designed from the ground up to deliver what users and developers have long been waiting for: seamless, scalable, and accessible blockchain solutions.

That’s it; that’s the goal. 

Through their SDK, QuantumFusion equips developers to create dApps that feel as intuitive as the best Web2 applications. Whether for mobile or desktop, this toolkit empowers innovation with real-world usability and future-ready performance. Paired with 0.1-second block finality, QuantumFusion makes real-time, cost-effective transactions a reality.

This is more than just incremental improvement; it’s a reimagining of what blockchain can achieve with a roadmap of how we can get there. QuantumFusion’s infrastructure unlocks opportunities that have only been half-realized so far. It isn’t just solving old problems—it’s setting a new standard for what blockchain technology should deliver.

Explore QuantumFusion, follow their progress, and help us build a decentralized future for everyone. 

Website: https://qfnetwork.xyz

X: @QuantumFusion_

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Press Release

MemeSparks.com Launches Innovative Service Integrating Web3 with AI Text-to-Video Technology

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2 hours ago

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November 22, 2024

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MemeSparks.com, a revolutionary Web3 platform, announced the launch of the first-ever platform integrating Web3 with AI-driven text-to-video technology. This innovative platform has the potential to drastically reduce the time, cost, and resources of video production. Its goal is to help memecoin developers and teams produce high-quality products faster and at substantially lower costs. The newly-launched service is available in exchange for the $MEMEKS utility token and Solana (SOL).

MemeSparks.com harnesses the power of artificial intelligence to transform written scripts into prime video content. The platform relies on the transparency and security of smart contracts to facilitate safe transactions between creators and consumers. This technology ensures creators receive fair compensation for their work and clients engage in digital transactions within a secure environment.

The platform will be available globally, allowing creators from various backgrounds and geographical locations to receive appropriate financial reward for their content. More importantly, anyone in the world can become a video producer even if they lack the necessary skills but have an idea for video content.

MemeSparks.com is steadily building a powerful, decentralized ecosystem with a digital marketplace at its center. Here, creators can rent out or sell their content produced via the platform’s AI text-to-video technology. The marketplace will support two tokens, $MEMEKS or SOL coins. The generated profit goes to the Community Wallet, which is controlled by the developers. The latter have already pledged to give monthly reports on its use and will only get a 10% share from the wallet for their services. Another 10% will go toward the platform’s marketing and the $MEMEKS coin development. The platform’s website maintenance will receive 20% while the remaining 60% will be used according to the votes of $MEMEKS holders.

The platform will also have a decentralized autonomous organization (DAO), allowing members to vote and decide marketing strategies, partnerships, airdrops, etc. Purchasing $MEMEKS tokens will automatically make users part of the DAO. The organization will function via two entities, the Council of Creators and the General Assembly. Every proposal advanced for voting will require a minimum quorum of 20% of total $MEMEKS. Lastly, the voting process will be 100% transparent to all members, and it will feature pre-voting discussions and clear rules to ensure complete fairness.

The advent of AI technology will reshape numerous industries, including video production. MemeSparks.com aims to spearhead the technological revolution in this field by delivering a user-friendly service for developers and creators. This platform fuses Web3 with AI text-to-video technology  to democratize video content production, and boost interactivity and engagement for audiences. It also uses a transparent and effective decentralized governance model to give consumers unmatched control over the digital art they create and the platform’s development.

Jay Chambers, CEO, Core Developer and founder of MemeSparks.com, commented on the platform’s mission:

“Our vision was to create a platform where creativity meets technology in its purest form. By integrating Web3 with AI text-to-video, we’re not just launching a product. We’re setting the stage for the next generation of digital content creators and consumers. This is about empowering people with tools that were once exclusive to large studios or tech giants.'”

The platform’s development does not end here. MemeSparks.com plans to introduce more features, including AI-driven editing tools, enhanced creator monetization options, and more interactive viewer experiences. Ultimately, the platform should become the meeting place for creators, investors, and technology enthusiasts, where they can innovate via a unique integration of Web3 and AI.

About MemeSparks

MemeSparks.com is a groundbreaking project aiming to empower creators and consumers into producing high-quality and cost-effective content faster than ever before. The platform seamless integration of Web3 and AI text-to-video produces cutting-edge technology. Above all, it fosters a more sustainable future for creative freedom and digital ownership for users worldwide.You can learn more about MemeSparks.com and stay up-to-date with its developments here: Website | X (Twitter) | Telegram

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Press Release

How Bitcoin’s price rise has increased the number of cryptocurrency payments 

Published

3 days ago

on

November 19, 2024

By

NOWPayments Announces Significant Gain in Crypto Payments

NOWPayments, a leading crypto payment gateway, is excited to announce the significaте Increase of Crypto Payments since the beginning of November. 

Why Bitcoin took a new ATH in November?

Starting in January 2024, Bitcoin’s price was around $48,717, marking a period of cautious optimism following a tumultuous 2023. Throughout the first half of the year, Bitcoin experienced significant fluctuations as market dynamics shifted, driven by regulatory developments and increased institutional interest. By November 2024, Bitcoin had reached a pivotal moment, hitting an all-time high (ATH) of $75,000 on November 8 and then surging to $89,000 shortly thereafter.

This remarkable growth didn’t go unnoticed by the business world. Companies across various industries quickly recognized the massive business opportunity Bitcoin presented. The ATH sent a clear message: Bitcoin was no longer just a speculative asset but a powerful tool for transactions, store of value, and an entry point into the broader crypto economy.

Businesses’ interest in Bitcoin grew for several reasons:

  • Increased Institutional Adoption: Major financial institutions rolled out Bitcoin-based services, providing legitimacy and opening doors for mainstream use.
  • Global Payment Integration: Bitcoin’s borderless nature appealed to businesses seeking efficient, low-cost cross-border transactions, particularly as inflation and currency instability impacted traditional fiat systems.
  • Hedge Against Inflation: As global economies faced ongoing inflationary pressures, Bitcoin became a preferred asset for protecting wealth, especially for businesses looking to diversify holdings.

Climbing to $75K

The journey to $75,000 began with a series of positive developments in the cryptocurrency market. Following the approval of Bitcoin Spot ETFs and increased institutional buying, Bitcoin’s price steadily climbed. On November 7, 2024, Bitcoin reached approximately $76,999 before closing at around $75,820. This surge was fueled by a bullish market sentiment as investors reacted positively to the election results and anticipated regulatory clarity under Trump’s administration.

Breaking Through $80K

Following its initial surge to $75K, Bitcoin quickly surpassed the $80,000 mark on November 10, 2024. The momentum continued as traders rushed to capitalize on the positive sentiment surrounding the cryptocurrency. By this point, BTC was trading at approximately $80,976, reflecting an increase of nearly 9.64% from the previous day.

Approaching a New BTC All Time High at $90K

As of November 12, 2024, Bitcoin’s price soared to around $89,000. This represents a staggering increase within just a few days following the election and highlights the cryptocurrency’s volatility and potential for rapid gains. The combination of strong demand from both retail and institutional investors has driven BTC prices higher as they anticipate further growth.

How has the new ATH for BTC led to an increase in crypto payments?

We decided to analyse how the rise in the price of the main cryptocurrency – BTC affected the number of payments. NOWPayments team took the number of payments before the U.S. election and compared it with the data after the Trump has won. The result exceeded all expectations. Thanks to the growth of BTC from $72,729.89 to $90,750.94, the number of payments increased by as much as 8%. This significant change indicates the increased interest in cryptocurrency and the correlation of BTC price and cryptocurrency usage.

  1. Correlation Between BTC Price and Crypto Payments:

The 8% increase in the number of payments demonstrates a clear correlation between Bitcoin’s price growth and the rising adoption of cryptocurrency for transactions. As BTC’s value surged, so did user engagement with crypto payments.

  1. Increased Interest in Cryptocurrency:

The significant rise in payments highlights growing public and business interest in cryptocurrencies as a viable payment method, especially during moments of market optimism fueled by events like the U.S. election.

  1. Market Events Drive Crypto Adoption:

The post-election Bitcoin rally, combined with its ATH, underscores how political and economic events can directly impact crypto adoption, encouraging more users to explore cryptocurrency as both an investment and a practical payment tool.

About NOWPayments
NOWPayments is a leading crypto payment gateway providing easy and secure payment solutions for businesses around the world. With support for over 300 cryptocurrencies and features like auto coin conversion, donation widgets, and e-commerce plugins, NOWPayments offers flexible and robust payment tools for businesses of all sizes.

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