Speech at the OKX Lennix Hong Kong Web3 Summit: Keep Faith in the Encryption Industry and Continue to Lead the Industry in Openness and Transparency
On January 9, Lennix, Managing Director of OKX's Global Institutional Business Department, was invited to attend the "POW'ER 2023 Hong Kong Web3 Innovators Summit" and delivered a keynote speech on "Looking at the World from Hong Kong, How to Seize the Opportunities in the Web3 Era".
The following is the full text of the speech:
As Taleb said in "Black Swan", history does not crawl slowly, but suddenly jumps from one fault to another, with very few twists and turns, but we only believe in those small evolutions that we can predict. And Web3 may be a fault in the Internet, that is, a sudden leap forward from Web2.
The Internet is a data-driven world. Web2, which started in the 1990s, became brilliant due to data flow, but also ushered in a cooling down due to data monopoly. Web2 technology companies, represented by Google, Amazon, Apple, etc., have achieved data monopoly through free strategies, concealed data collection and other means, and then hijacked capital to harvest other industries indiscriminately, suppressing innovation, and leading to the bottleneck period of Internet development .
Since 1976, the gradual awakening of individual sovereignty consciousness represented by Hayek and Satoshi Nakamoto and the development of Bitcoin's underlying technology blockchain have given birth to the birth of Web3. As a decentralized and credible Internet of value based on blockchain and other technologies, Web3 advocates returning the ownership of data and the autonomy of identity from large platforms to users, opening up a new imagination and space for the Internet. The attractiveness has opened up a big change in data, finance and trust on a global scale.
Hong Kong has keenly grasped the opportunities of Web3.
On October 31, 2022, Hong Kong officially released the "Policy Declaration on the Development of Virtual Assets in Hong Kong", determined to compete for the global virtual asset center, and took a key step in the global encryption field, boosting the confidence of all Web3 industry practitioners.
Looking back at the development of Hong Kong, it took a hundred years to transform a small fishing village into the Four Asian Tigers, and another twenty years to transform from an Asian financial center to an international financial center. Today, from the wave of Web2 to Web3, the Internet is ushering in a new round of changes. Hong Kong is standing at the crossroads of history again. It chooses to bet on the value of Web3. Relying on its good historical accumulation, it is believed that Hong Kong is far away from the vision of becoming a global virtual asset center. It will also not be too far away. In the future, Ouyi OKX will concentrate on cultivating in Hong Kong, continuously increasing investment and expanding enrollment.
However, there are not only opportunities, but the process of Web3 from 0 to 1 and from 1 to N is not smooth, but it is moving forward in a zigzag way amidst periodic risks, black swan risks and systemic risks, such as black companies represented by FTX, 3 Commas and LUNA. The swan risk not only caused heavy losses to investors, but also seriously damaged the confidence of practitioners in the Web3 industry and damaged the reputation of the industry. Currently, security and transparency have become the top priority of industry development.
Ouyi OKX effectively avoids the risk of centralized audit through the Merk tree-based reserve proof PoR and independent custody address functions, and is realizing the same asset transparency as traditional finance. All users can view it on the Ouyi OKX official website Two PoR audit results and can be verified using self-verification functions and open source tools. In addition, users can also check the cleanliness of Ouyi OKX reserves through Defillama.com, which is the highest in the industry at 100%.Through the improvement of technical means, the transparency of PoR can reach the standard of traditional financial auditing.
In addition to regularly publishing PoR reports, Ouyi OKX will continue to improve transparency with the help of technologies such as zero-knowledge proof in the future, avoid black swan events such as FTX, and strive to protect the security of user assets.
Ouyi OKX has never misappropriated user assets in the past, and it will never be in the present and in the future.
After decades of ups and downs, the encryption industry has struggled to survive from the crumbling, from barren to lush, from savage growth to intensive cultivation, no matter what setbacks and chaos it faces, it keeps moving forward. It is against this background that Ouyi OKX firmly believes that Crypto will change the world, immerse itself in technological innovation, and continue to iterate and transform from crisis and opportunity to become stronger.
Since its establishment in 2017, Ouyi OKX products have been operating safely and stably for more than 6 years. With the industry through several storms, it has become the world's number one encrypted trading platform for contract transactions. Entering 2022, Ouyi OKX has successfully transformed into a Web3 technology company, and has successively launched many decentralized products such as NFT market, DEX, Wallet, etc., and has continuously made new breakthroughs in the Web3 field. Up to now, OKX's centralized and decentralized business has covered more than 200 countries and regions around the world, and its products serve more than 50 million users around the world.
As a staunch builder of the Web3 industry, Ouyi OKX is committed to creating the world's top encrypted ecological infrastructure services, promoting blockchain and digital assets into the lives of hundreds of millions of users, and making the world more transparent and better.
