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HOYA BIT promotes the integration of Web3 and AI, which is undoubtedly the future trend!
What important concepts should be established for investing in virtual assets?
Legality, compliance, and asset protection in centralized exchanges
Sharing innovative directions and development of exchanges
The 7th “Hit AI & Blockchain” AI and Blockchain Industry Summit was held at the Sheraton Grand Taipei Hotel, attracting many heavyweight industry professionals. This summit focused on the practical applications of artificial intelligence, the development of NFT and metaverse, the security applications in the Web3 field, and the current situation of virtual asset supervision in Taiwan, as well as discussed the development trends of the virtual asset market.
At the summit, former Minister of the National Development Council, Chen Mei-ling, pointed out that Taiwan’s native internet generation has the opportunity to step onto the world stage, emphasizing the opportunities brought by Web3. She hopes that Taiwan’s electronic industry giants can collaborate with internet startups, injecting more funds and resources to promote a positive cycle of “software driving hardware.” Chen Mei-ling emphasized that the Taiwanese government and public sectors should play the role of facilitators, and it is still young and energetic startup teams that truly drive the development of emerging industries.
In the investment lecture, hosted by the founders and editors-in-chief of KNOWING News, CoinTe Finance, and Strontium Technology, Yang Fang-ru, and featuring the founder and CEO of HOYA BIT, Penny Peng, the Deputy General Manager of BitToro, Chen Yi-ling, the founder and CEO of Rybit, Lai Yong-chun, and the Deputy General Manager of Far Eastern Commercial Bank Digital Financial Business Group, Dai Song-zhi, the participants had an in-depth discussion on the international trends of the virtual asset market, regulatory mechanisms, and fundamental investment concepts.
Starting with the FTX scandal, the lecture discussed the important fundamental investment concepts that Taiwanese virtual asset investors should establish. Penny Peng, CEO of HOYA BIT, emphasized the importance of risk diversification and investor education, recommending investors to diversify their risks and not put all their eggs in one basket. She also emphasized that investors need to understand the basic knowledge of blockchain, virtual assets, and exchange operations, as well as the high volatility of virtual assets. She also urged investors to avoid borrowing money to speculate on coins to avoid excessive risks. Dai Song-zhi from Far Eastern Commercial Bank emphasized the importance of asset allocation and proposed different asset allocation recommendations based on different age groups.
Regarding the legality, compliance, and protection of investor assets in exchanges, 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. Penny Peng shared that HOYA BIT recently discovered a large number of users transferring funds to the same address, and the exchange activated an alert mechanism to remind other investors. This required significant manpower to review each case, but fortunately, successful prevention was achieved, ensuring the security of investors’ assets. She emphasized that scams are prevalent, and exchanges should strive to control every aspect. In terms of protecting user assets, exchanges should implement multi-level asset protection measures, including user fiat fund trust services, cold and hot wallet management, insurance, and clear separation and custody of user assets from their own assets to ensure the legality and security of user assets. Dai Song-zhi from Far Eastern Commercial Bank stated that banks have also gone through what the virtual asset industry is currently experiencing, and he firmly believes that compliance is the key to gaining customer trust, and trust is what drives industry activity. He also mentioned that a joint defense mechanism between banks and virtual asset exchanges will be implemented to safeguard investors’ assets.
Lastly, the participants shared the innovation and development directions of exchanges in the virtual asset market. HOYA BIT wants to let more people understand and comprehend the concept of the cryptocurrency circle and virtual assets, and promote the popularization of Web3. Penny Peng further stated, “I personally believe that Web3 has more diverse development, and there is a lot of imagination space between Web3 and AI. It is definitely the future trend.” Dai Song-zhi from Far Eastern Commercial Bank emphasized the need for imagination in the future development of Web3 and stated that trust is the key to promoting industry vitality.
This summit provided a platform for in-depth discussions on hot topics such as AI, blockchain, and virtual assets for various industry participants, which will contribute to the innovation and development in these fields in Taiwan. The success of the “Hit AI & Blockchain” summit showcases the vitality and potential of Taiwan in the fields of artificial intelligence, blockchain, and virtual assets. We look forward to the future development in these areas 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
Exchanges
Taiwan
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