Talks centred on applications in finance, digital asset regulations, fundamental changes to financial infrastructure and Hong Kong as a fintech leader

HONGKONG, CHINA - Media OutReach -22 March 2019 -More than 600 delegates attended the inaugural HashKeyInternational Digital Asset Summit 2019 (HIDA2019) to hear leading expertsdiscuss how blockchain technology is beginning to transform how we work, liveand play in the same way that widespread adoption of the internet changed theworld.

MichelLee, Executive President of HashKey Group, delivers his welcome remarks at theHashKey International Digital Asset Summit 2019 

"Blockchain technology has transformed from being anexperiment just a few years ago to powering a new economic reality. There arenew cases and new fintech startups announced every week. Digital assets ismoving from its 'wild' stage of early development into the mainstream," said Michel Lee, Executive President ofHashKey Group. HashKey co-hosted the summit with Wanxiang Blockchain Labs, withthe 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 fromthe traditional investment community needed to take up the challenge thatblockchain and other fintech technologies represent, or be left behind.

Dr.Xiao Feng, Vice Chairman & Executive Director of ChinaWanxiang Holdings and Chairman & CEO at Wanxiang Blockchain, outlined how fintechis pushing economic development. He believes we are entering Fintech 3.0, withfinancial infrastructure reconstituted with mainstream organisations launchingnew products that are not based on existing banking facilities but new blockchaintechnology.

In his keynote speech entitled 'Digital Transformationand 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.

HIDA2019was held in Hong Kong over other financial centres because the territory has agreat technology infrastructure, a fantastic talent pool and is already aglobal financial and legal centre. However, while HongKong is being presented with a huge opportunity, it could also be viewed as athreat. "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 leftbehind," said Michel Lee.

The summit also welcomed EricChan, Chief Public Mission Officer, Cyberport; Ben Quinlan, Board Member, FinTech Association of Hong Kong and Ken Lo, Founding Member of ZhongAn International. Otherspeakers and panellists included ClaraChiu, Head of Fintech Unit and Director of Licensing, Securities andFutures Commission; Patricia Yeung,Senior Manager of Fintech, InvestHK; PaulYuen, General Counsel, Monetary Authority of Singapore (MAS); Cat Rüst, Head of Innovation Technologies, Greater China, UBS AG; Takato Fukui, Director General, JapanVirtual Currency Exchange Association and DavidKwan, Head of Asia SMARTS Market Surveillance, Nasdaq.

To find out more about HashKey andthe Summit, please click here.  

About the HashKey Group

HashKeyGroup (HashKey Digital Asset Group Limited) is a leading fintech group based inHong Kong. Led by a group of financial and technology veterans, the groupfocuses on developing the blockchain and digital asset industry with acommitment to build a global ecosystem for the long-term in coordination withleading institutions, technology partners and governmental bodies.

AboutWanxiang Blockchain Labs

Funded by China Wanxiang Holdings, Wanxiang BlockchainLabs is one of the first non-profit research institution focusing on Blockchaintechnology globally. Wanxiang Blockchain Labs and its affiliated entities havebeen early backers of a large number of ground-breaking projects and keycompanies in the blockchain eco-system including Ethereum, Circle, Bloq,Dfinity and PlatON. Its main goal is to provide support for research,entrepreneurship, development and promotion of the blockchain industry, toliaise with relevant regulatory bodies, and to explore how the technology canbe applied and contribute to the development of the wider economy and society.