One, The Status of Bitcoin
Bitcoin will become the global reserve currency, replacing the US dollar.
Two, Stablecoins and Opportunities in Hong Kong
Hong Kong, backed by the mainland, could become a bridge connecting the global market and the mainland by launching a Hong Kong dollar stablecoin, providing a new pathway for the cross-border use of the Renminbi.
Three, RWA (Tokenization of Real World Assets)
The real opportunity lies in migrating assets originally in electronic data form, such as stocks and bonds, to the blockchain, rather than fragmenting physical assets.
Four, Exchanges and Compliance
If Hong Kong can allow compliant operations for Binance and others, it could save enormous reconstruction costs and quickly absorb global liquidity.
Five, Future Trading Models
Decentralized exchanges (DEX) will become as widespread as WeChat in the next decade due to lower fees and better privacy; the trend is unstoppable.
Six, Integration of AI and Blockchain
Blockchain can perfectly meet the demand for microtransactions between AIs (like $0.01), and Hong Kong is expected to become a global settlement center for the AI economy.
Seven, Suggestions for Hong Kong
1. Regulatory policies should not wait for perfection before implementation; they should be practiced first and then improved.
2. Liquidity should focus on globalization, rather than being limited to local markets.
3. Focus on future core areas such as DEX, AI + Web3.
Eight, CZ's personal insights
After leaving the mainland for four years, standing in Hong Kong, I realize that my previous experiences were just a prelude; the truly grand story is just beginning.
Through participation in the Bitcoin conference, I would like to add a few personal insights:
1. Bitcoin as a global reserve currency:
CZ believes that Bitcoin, due to its fixed supply of 21 million, decentralization, and censorship resistance, can combat inflation and geopolitical risks, making it a more resilient choice than traditional fiat currencies. He pointed out that governments, companies, and institutions are already taking action, such as the Bitcoin ETFs in the US, Hong Kong, and Japan that have opened the door for funds to flow into cryptocurrency, and large enterprises are following the example of MicroStrategy by incorporating Bitcoin into their balance sheets.
2. Unique insights on RWA: CZ criticized the practice of fragmenting physical assets like luxury homes on-chain, arguing that it overlooks actual liquidity issues. He is more optimistic about the efficiency improvements and cost reductions brought by native electronic assets (like stocks and bonds) being put on-chain, and suggests that the Hong Kong Stock Exchange seize the opportunity to transform into a 'chain-based New York Stock Exchange.'
3. The intersection of AI and blockchain: CZ depicted a scenario of high-frequency microtransactions between AIs (for example, one AI charging $0.01 for writing a report and another AI charging $0.01 for creating a chart), which traditional banks may be reluctant to process due to slim profits. However, blockchain can achieve instant transactions with almost zero fees, perfectly adapting to such needs.
4. Acknowledge the technical limitations of Bitcoin: Although highly optimistic about Bitcoin's future, CZ also objectively mentioned the current technical bottleneck where the Bitcoin network can only process about 7 transactions per second. This shows the balance in his perspective.
