[HKBCS 2018] Industry Forsees Authorities Keeping Close Eye to Market Trends

500 Startups venture capital partner Bonnie Cheung (left 2), Fincross deputy chief executive Henry James (right 2), GSX executive chairman David Wang (right 1)

The cryptocurrency market has been in turmoil for the past year, and the industry is embarking on deepening the development of its underlying technology. Bonnie Cheung, a Venture Partner at 500 Startups, said that she noticed that the industry has been actually using the application and the underlying technology this year.

However, the blockchain technology is still not perfect, and there are deficiencies, which will focus on the development of security tokens, such as in real estate projects. From a technical perspective, she expects that there will be three major competitors in the coming year, especially in the development of open source protocols, challenging the position of the Ethereum platform.

The ICO is in a bear market, and Fincross International Deputy Chief Executive Officer, Henry James, pointed out that it’s currently in a difficult time, but the market as a whole is still in the early stage. For example, he said that Disney has more than 100 brands, many of them can be used for tokenization. This market has huge potential and can definitely attract investors with large amounts of illiquid assets. Therefore, he is excited about the future of security tokens.

Regulation has always been the focus of market attention. David Wang, Executive Director of GSX, said that in 2018, regulators have been scrutinizing cryptocurrencies, Hong Kong, Singapore, and other regions have introduced relevant regulatory guidelines to protect individual investors. In terms of choosing a market, he believes that it depends on the different needs of each company. In addition to the stability of regulation provided by Gibraltar, Hong Kong is another friendly market. He stressed that to survive in an increasingly fierce market, an exchange must maintain asset liquidity and attract more participants.