DeFi, Metaverse, Digital Assets and Web3: Opportunities and Challenges for the Financial Services Industry

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The seminar commenced with opening remarks by Ms Laurence Van Der Loo, Managing Director, Technology & Operations of the ASIFMA, and Mr Chris Barford, Partner of EY and Director of the FTAHK. Dr Giorgio Valente, Head of the HKIMR, then presented an overview of these frontier technologies, their relationship with digital assets and Web3 markets, and their potential benefits and applications. Dr Tom Fong and Dr Elsa Dong, Senior Managers of the HKIMR, reported the key survey findings of the HKIMR’s two latest research reports on DeFi and the metaverse, offering insights into the current engagement, opportunities and challenges of these technologies in the financial services industry.

In the last session, Mr Enoch Fung, CEO of the AoF and Executive Director of the HKIMR, moderated a panel discussion with Mr Peter Brewin, Partner of PwC, Mr Stratos Pourzitakis, Head of Digital Policy APAC at HSBC and Vice-Chair of the ASIFMA Fintech Working Group, and Ms Priscilla Adams, Group Director of Compliance at Bullish Group and Co-Chair of the FTAHK Web3 & Blockchain committee. The discussion featured a vibrant exchange of ideas and perspectives focusing on the frontier technologies and exploring the market and regulatory developments of the broader digital asset and Web3 ecosystem in Hong Kong with reference to the international experiences.

Find out more in our full reports below.

Report on DeFi here:
https://www.aof.org.hk/docs/default-source/hkimr/applied-research-report/defirep.pdf

Report on the Metaverse here:
https://www.aof.org.hk/docs/default-source/hkimr/applied-research-report/metarep.pdf