Talks centred on applications in finance, digital asset regulations, fundamental changes to financial infrastructure and Hong Kong as a fintech leader
HONG KONG, CHINA – Media OutReach – 22 March 2019 – More than 600 delegates attended the inaugural HashKey International Digital Asset Summit 2019 (HIDA2019) to hear leading experts discuss how blockchain technology is beginning to transform how we work, live and play in the same way that widespread adoption of the internet changed the world.
Michel Lee, Executive President of HashKey Group, delivers his welcome remarks at the HashKey International Digital Asset Summit 2019
“Blockchain technology has transformed from being an experiment just a few years ago to powering a new economic reality. There are new cases and new fintech startups announced every week. Digital assets is moving from its ‘wild’ stage of early development into the mainstream,” said Michel Lee, Executive President of HashKey Group. HashKey co-hosted the summit with Wanxiang Blockchain Labs, with the support of Cyberport, DBS, FinTech Association of Hong Kong and ZhongAn International.
During the day-long event at The Four Seasons Hotel, Hong Kong, speakers and panellists discussed how financial institutions from the traditional investment community needed to take up the challenge that blockchain and other fintech technologies represent, or be left behind.
Dr. Xiao Feng, Vice Chairman & Executive Director of China Wanxiang Holdings and Chairman & CEO at Wanxiang Blockchain, outlined how fintech is pushing economic development. He believes we are entering Fintech 3.0, with financial infrastructure reconstituted with mainstream organisations launching new products that are not based on existing banking facilities but new blockchain technology.
In his keynote speech entitled ‘Digital Transformation and Blockchain Application in Supply Chain Trade Finance,’ Abdul Raof Latiff, Managing Director at DBS, discussed how his organisation, a legacy business, has transformed to become future-facing.
HIDA2019 was held in Hong Kong over other financial centres because the territory has a great technology infrastructure, a fantastic talent pool and is already a global financial and legal centre. However, while Hong Kong is being presented with a huge opportunity, it could also be viewed as a threat. “As a major world financial centre, Hong Kong can be at the forefront, but as the technology goes mainstream the city cannot afford to be left behind,” said Michel Lee.
The summit also welcomed Eric Chan, Chief Public Mission Officer, Cyberport; Ben Quinlan, Board Member, FinTech Association of Hong Kong and Ken Lo, Founding Member of ZhongAn International. Other speakers and panellists included Clara Chiu, Head of Fintech Unit and Director of Licensing, Securities and Futures Commission; Patricia Yeung, Senior Manager of Fintech, InvestHK; Paul Yuen, General Counsel, Monetary Authority of Singapore (MAS); Cat Rüst, Head of Innovation Technologies, Greater China, UBS AG; Takato Fukui, Director General, Japan Virtual Currency Exchange Association and David Kwan, Head of Asia SMARTS Market Surveillance, Nasdaq.
To find out more about HashKey and the Summit, please click here.