Trends and Opportunities in Digital Assets and Web3
In the ever-evolving landscape of financial services, a seismic shift is underway. Join us for a journey into the transformative realms of digital assets and the groundbreaking Web3.
Web3 is the cornerstone of a new era of decentralised finance, eliminating the need for traditional intermediaries. It enables the creation and exchange of digital assets and the employment of smart contracts, underpinned by blockchain's decentralised structure and cryptographic protection. These innovations are fostering unprecedented levels of transparency, security, and efficiency in financial transactions.
The digital asset market continues its rapid expansion, as of April 2023, the total assets under management for digital asset investment products reached US$33.6 billion, a year-to-date increase of 70.7%.1 Family offices, in particular, have recognised the potential of digital assets, actively weaving them into their investment strategies. A recent research conducted by UBS revealed that 56% of surveyed family offices are currently involved in digital asset investments.
Nonetheless, the burgeoning digital asset sector brings its share of challenges, including volatility and regulatory uncertainties, highlighting the importance of due diligence and risk management. For instance, leading jurisdictions are formulating their unique regulatory frameworks for digital assets. In Switzerland, the government and the Financial Market Supervisory Authority (FINMA) have embraced blockchain and digital assets, implementing a comprehensive regulatory framework for digital assets that provides market participants with legal clarity.2 Similarly, Hong Kong is striving to become a hub for virtual assets, with the government and financial regulators fostering an environment conducive to the sector's sustainable development. By June 2023, a licensing regime for virtual asset service providers was in place.
The two panels of the FSDC HK-Swiss Collaboration Workshop aim to share the profound evolution in the financial services industry, precipitated by the emergence of digital assets and Web3. The panels bring together an exceptional lineup of speakers, including government officials and global leaders. They will share insights and ideas on harnessing the potential of digital assets and Web3 across both markets and discuss the potential implications of the evolving regulatory framework. Join us for this enlightening exploration of the digital frontier in finance.
This workshop is by invitation only exclusively for a selected number of family office representatives and industry experts.
Language:
English
Agenda:
| Item | Speaker |
| Welcome Remarks #1 | Dr King Au, Executive Director, FSDC (See bio) |
| Welcome Remarks #2 | Mr Daniel Freihofer, Consul General, Consulate General of Switzerland in Hong Kong (See bio) |
| Keynote Speech | Mr Christopher Hui, Secretary for Financial Services and the Treasury, HKSAR (See bio) |
| Panel Discussion 1 |
Topic: Digital Assets and Web3 Moderator:
Panellists:
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| Panel Discussion 2 |
Topic: Regulatory Landscape of Digital Assets Moderator:
Panellists: |
| Closing Remarks | Mr King Leung, Head of Financial Services and Fintech, Invest Hong Kong (See bio) |
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