HashKey Group and arkreen collaborate on driving “DePIN Hong Kong Initiative”
DePIN: from nowhere to everywhere
With the continuous development of blockchain technology, the digital economy era has arrived. In this new era, more and more people are realizing the importance of blockchain technology and applying it to various fields such as digital currency trading, digital identity authentication, supply chain tracking, and more. At the same time, as policies are being liberalized and enterprises invest more, the blockchain technology ecosystem is expanding and evolving. To foster the growth of Hong Kong’s blockchain technology ecosystem, HashKey has teamed up with arkreen and a multitude of collaborators across various industries to launch the ‘DePIN Hong Kong Initiative’ aimed at fostering collaborative development.
Hong Kong is one of the world’s most important financial centers. In recent years, the government has implemented a series of blockchain-friendly policies, providing vast opportunities for the development of blockchain companies. As one of the leading digital asset service providers globally, HashKey is committed to exploring the application of blockchain technology and providing high-quality services for the security, transparency, and liquidity of digital assets.
In this context, HashKey and arkreen, along with a range of partners, have launched the “ DePIN Hong Kong Initiative” to foster the development of the DePIN ecosystem in Hong Kong through the utilization of blockchain technology and hardware devices. DePIN is a model for constructing physical world infrastructure using blockchain technology, which can be used to build infrastructure worldwide at lower costs, faster speeds, and higher efficiency.
Leo LIN, founder of arkreen, said, “DePIN is a physical world infrastructure construction model based on blockchain technology, which enables infrastructure construction at lower cost, faster speed, and higher efficiency on a global scale. It uses a token incentive mechanism to encourage the global community to collaborate on the construction of valuable infrastructure networks from the physical world. In other words, it is very relevant to the real economy. Therefore, we can foresee that DePIN will become one of the most important trends and narratives in the next cycle. Moreover, the DePIN project uses hardware to implement proof of work in the physical world, so it relies heavily on the supply chain and industrial resources, highlighting Hong Kong’s unique advantage as the world’s factory backed by the Greater Bay Area. During the sub-stage today, we have received support from Dr.Xiao Feng, Chairman of Wanxiang Blockchain and Hashkey Group. He also suggested that global DePIN project parties, well-known investment institutions and research institutions in the DePIN track, hardware manufacturers of all kinds, industrial partners, and builders of our DePIN community jointly initiate the DePIN Greater Bay Area Hong Kong Initiative to promote the vigorous development of the DePIN community and ecosystem together. Our aim is to leverage the robust infrastructure of Hong Kong and the Greater Bay Area to facilitate the integration of various industries with Web3 innovation through the transformation of the DePIN model. By doing so, we aspire to provide opportunities for more Web3 builders to explore and discover valuable application scenarios in the physical world using the DePIN projects, and collaboratively showcase the story of Web3 innovation in Hong Kong”
Dr. Xiao Feng, Chairman of Wanxiang Blockchain and HashKey Group, said in his speech during DePIN Hong Kong initiative launch event: “Leo LIN and I have been exploring how to connect the physical world and the digital world. Although we have seen a lot of human digital migration, after all, our bodies cannot separate from the physical world. There must be a “bridge” to combine the real world and the virtual world together. DePIN is such a physical foundation, a bridge that connects the real world and the virtual world. From the perspective of Wanxiang Blockchain and HashKey, we hope to promote the flourishing development of DePIN, a blockchain-based trusted physical network.
On April 14th, we will also have a release, using the DePIN trusted digital infrastructure for carbon neutrality. We hope to greenify the long-criticized Bitcoin mining behavior that leads to increased carbon emissions, making Bitcoin green and sustainable. To achieve this, we rely on the DePIN physical network to record, verify, and prove. This is not a sudden impulse, but rather something we have been actively exploring for the past two years, looking for physical facilities, systems, and networks like DePIN, to deeply explore how they can help with ESG and NFT, and enable us to achieve some special goals.
I am very pleased that today we are organizing a dedicated panel discussion on this topic at the Web3 Hong Kong Festival, which is a very suitable venue. First of all, the Greater Bay Area is a key manufacturing base for DePIN worldwide, with almost all related manufacturing coming from the Greater Bay Area. At the same time, Hong Kong has always encouraged and supported Web3, encouraging the use of tokenization to solve the connectivity, incentive, and market promotion issues among physical networks.
The strong manufacturing capacity of DePIN in the Greater Bay Area and the strong policy support for Web3 in Hong Kong will undoubtedly play a great role in promoting the faster development of the DePIN ecosystem. We call on everyone, whether in the manufacturing industry, application providers or builders of the DePIN networks, to work together in Hong Kong and the Greater Bay Area, facing the world, and boost the advancement of the DePIN mission.”
In the “DePIN Hong Kong Initiative”, HashKey will leverage its rich experience in digital asset services to provide comprehensive support and assistance to the DePIN ecosystem. At the same time, arkreen will provide strong support in hardware supply chain capabilities and industry resources to help build a high-quality and high-security DePIN ecosystem. The two parties will work together with partners from all sides to inject new vitality into the development of Hong Kong’s digital economy, as well as promote the application and development of blockchain technology globally.
In summary, the “ DePIN Hong Kong Initiative” is a key milestone for the development of Hong Kong’s digital economy, which will inject new momentum into the digital era of Hong Kong. We believe that with the joint efforts of HashKey, arkreen and all partners, the DePIN ecosystem in Hong Kong will present a more secure, efficient and trustworthy state.
