Meta Era successfully hosted the Web 3.0 Open – Meta Era Reunion in Dubai Summit, envisioning new possibilities for Dubai’s digital economy

The “Web 3.0 Open – Meta Era Reunion in Dubai” jointly hosted by Web 3.0 Open, Meta Era, BitMart, CertiK, WSPN, and Huawei Cloud, with sponsorship from Fenbushi Capital, Amber Group, Web3Labs, ICG Trading, AINN Layer2, SphereX, AscendEX, 0xVM, NuLink, Conflux, Somnia, Zetrix, Manta Network, PSE Trading, NFTGO, Kitsaya Labs, Glypher, StableWallet, KUN, Rabi, ARPA Network, Edge Matrix, Truflation, and Klickl, was grandly held and successfully concluded on April 20, 2024, in Dubai.

Despite the recent heavy rainfall affecting Dubai, the enthusiasm for this summit remains undiminished. With over 1,000 total registrations, the event attracted entrepreneurs, investors, developers, academic experts, and media professionals from various industries across Asia, Africa, and Europe. The on-site presentations were captivating, drawing significant attention from a packed audience, with nearly 800 attendees at the venue. Additionally, through live streaming online, we reached a broader audience, with over 300,000 total views of the summit’s livestream. Online viewers joined the digital feast via the internet, collectively envisioning the promising future of Web 3.0.

Ms. Connie Lam, Solutions Architect Head of CertiK, delivered a keynote speech titled “Navigating the Web 3.0 Security Paradigm” She pointed out that the market capitalization of risk-taking in the crypto continues to grow, soaring from $1.14 billion in January to $12.84 billion last week. This growth is attributed to increased capital efficiency achieved by locking more tokens into ecosystems, enhancing capital utilization efficiency. However, the market also faces new challenges, including a decrease in demand for PoS services. To address this issue, CertiK proposed the concept of re-collateralization middleware, which allocates native ETH to different service and user segments through collaborative efforts between smart contracts, verification agencies, and operators.

Mr. Tengfei Xue, Web 3.0 Technical Planning Expert of Huawei Cloud, delivered a keynote speech titled “Pursing the Moore’s Law of Web 3.0”.  Mr. Xue emphasized the critical role of Web 3.0 infrastructure in the global computing system. He pointed out that Moore’s Law, crucial in computer systems, could have a decisive impact on the future development of the entire industry if effectively applied to Web 3.0 infrastructure. In line with this vision, Huawei Cloud has introduced two service models aimed at assisting the industry in achieving this grand goal.

Raymond Y., Founder of WSPN, Zack Yang, Co-founder of FOMO Pay, Chen Yu, Chief Advisor of KUN, Vivi Wong, Global Business Development Director of StableWallet, and Peter Yang, Managing Director of Distributed Capital engaged in a panel discussion on “Stablecoins: Pioneering the Evolution of Digital Payments in Web 3” They deliberated on the transformative impact of stablecoins in the realm of digital payments within the Web 3.0 landscape.

The guests emphasized that blockchain technology and Web 3.0 have brought significant impacts to the real world, with digital payments being one of the most innovative application areas. Stablecoins, serving as a bridge between Web 3.0 and traditional finance, have rapidly transformed the digital payment industry. They possess technological advantages, enabling global financial inclusion, with transaction volume and value steadily increasing. However, stablecoins also face challenges such as integration with traditional payment systems, improving user experience, and reducing friction costs. Addressing these issues requires extensive global cooperation within the industry, including collaboration with payment institutions and the development of user-friendly mobile wallets. Stablecoins are particularly crucial for emerging markets, yet the cryptocurrency industry faces regulatory challenges, necessitating robust infrastructure and public sector involvement. Improving interoperability between Web 3.0 and traditional financial institutions and enhancing the user experience of digital wallets are also key challenges.

Annabelle Huang, Managing Partner of Amber Group, Paul Wang, Founding  Partner of PSE Trading, Mihai Alexandru Radu, Investor Relations Head of SphereX and George Cao, Founder of AscendEX’s engaged in a panel discussion titled “Deep Dive:Investing with CeFi or DeFi?” 

The guests noted that speculation and value investment opportunities coexist in centralized finance (CeFi) and decentralized finance (DeFi). Retail traders may lean towards speculation, while institutional participants focus more on value investment, employing strategies such as holding Bitcoin and participating in staking. They suggested that new investors start with CeFi due to its structured nature, user-friendliness, and regulatory services, gradually transitioning to DeFi. However, they cautioned that while DeFi offers innovation and early participation opportunities, mastering DeFi requires time, practice, and adaptation to high risk. Despite the opportunities, DeFi also entails uncertainties and risks.

Dan Zajac, Co-founder of Kitsaya Labs, Anna Liu, Chief Marketing Officer of NuLink, Daigan Reid, Community Head of Somnia, Shubham Bhandari,  Ecosystem Head of Manta Network and Dora Jiang, Global BD Lead of  Conflux Network participated in a panel discussion on “Where is the Next 100x Return? -The New Voices from AI, DePIN, and Infra” 

The guests highlighted the revolutionary fusion of AI and blockchain technology. They emphasized the importance of blockchain’s incentive mechanisms in rewarding users and contributing significantly to the AI world, cautioning against false projects. While cryptocurrency adoption is in its infancy with a relatively small user base, widespread adoption will take time to nurture. Data security emerged as a critical issue, with AI tools needing to ensure data security and enhance the capabilities of decentralized technologies like blockchain. Anticipating the emergence of more metaverse platforms, they stressed the importance of data security and AI’s application in blockchain for predicting market trends. They underscored the importance of designing attractive incentive mechanisms to drive widespread infrastructure adoption and long-term project success, with early users becoming project advocates. The combination of AI and blockchain has propelled the development of several projects and token issuances, with timing being crucial for successful token launches. Other use cases such as liquidity staking derivatives (LSDs) and liquidity re-staking protocols (LRTs) also garnered significant attention.

Berri Stone, Business Development Head of Web3Lab, Kelvin C, Co-founder of 0xVM, Paul Xu, Co-founder of AINN Layer2, and Victoria Feng, Business Development VP of BitMart participated in a panel discussion on “What to Expect? Bitcoin’s Ecosystem in 2024”

The guests asserted that the Bitcoin ecosystem is not merely a copy of Ethereum but holds deeper significance. Its consensus mechanism is globally recognized and attracts significant traditional capital. Compared to Ethereum, Bitcoin is regarded as more honest and decentralized. Some protocol innovations have enabled Bitcoin to achieve functionalities that Ethereum cannot, such as the BRC-20 token standard. There are opportunities for new industries to develop within the Bitcoin ecosystem, attracting top talent and driving innovation. Bitcoin, with the highest market value, remains the preferred entry point for newcomers to the crypto world. The Bitcoin ecosystem is vibrant in terms of asset and network development, demonstrating robust vitality. Future development directions revolve around debates on technical routes centered on EVM and UTXO, while some projects integrate both, providing opportunities for collaboration between the two camps.​​

At the “Web 3.0 Open – Meta Era Reunion in Dubai” summit, Berri Stone, Business Development Head of Web3Lab, outlined the vision and mission of Web3Labs in her speech. She emphasized that Web3Labs is dedicated to responding to the policy calls of the Hong Kong government by providing comprehensive support to companies in the Web 3.0 field, including landing services, investment, acceleration incubation, and compliance guidance, to promote Hong Kong’s connection with the international community. Currently, Web3Labs has incubators in Hong Kong, Malaysia, Singapore, South Korea, Hangzhou, and Beijing, with plans to expand its global network.

Through sharing experiences and insights, participants deepened their understanding of the challenges in the digital payment field and discovered many potential opportunities. The event provided substantial insights and direction, moving beyond simple discussion to shape the future of the industry. To achieve continuous innovation and development in the Web 3.0 field, broader cooperation and sharing are essential to collectively address future challenges and drive the entire industry toward a more prosperous and healthy development trajectory. Meta Era will continue to serve as a leader in global Web 3.0 exhibitions, pushing the industry forward continuously.

About Meta Era

Meta Era is a globally leading media headquartered in Hong Kong, dedicated to promoting the application of Web 3.0 technology in Asia and worldwide. We take pride in providing accurate and professional information to the public and have established strong alliances with numerous investment institutions, prominent Web 3.0 companies, influential industry media, and communities. Focused on Web 3.0, we are paving the way for a new era of the internet – a Meta Era.