IOST Convenes Exclusive Seminar with HKSTP on “Blockchain+” | Fostering Corporate Digital Transformation and Advancement

On April 14, 2023, IOST and the Hong Kong Science and Technology Park engaged in profound dialogues and deliberations on Blockchain+ — Fostering Corporate Digital Transformation and Advancement and IOST Ecosystem Projects Entering the Park.

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IOST

10 min readApr 17, 2023

Hong Kong — A New Chapter in the Evolution of the Digital Economy

Following the United States, Dubai, and Singapore, Hong Kong has joined the competition to become the global Virtual Assets Hub, offering robust support in policy, financing, and talent. The world’s third-largest financial center and the second-largest market for IPOs recently issued the Policy Statement on Development of Virtual Assets in Hong Kong. This statement issued by the Financial Services and the Treasury Bureau (“FSTB”) sets out the Government’s policy stance and approach towards developing a vibrant sector and ecosystem for Virtual Assets (“VA”) in Hong Kong.

As an international finance hub, Hong Kong maintains an open and inclusive attitude towards inventive teams and individuals immersed in blockchain and virtual asset ventures. Currently, the Hong Kong government is actively promoting the construction of a new Web3 ecosystem, formulating and implementing relevant guidelines and regulatory stipulations to encourage the healthy and sustainable development of blockchain, AI, and virtual asset industries in Hong Kong, and ultimately empowering the digital transformation and intelligent innovation of Hong Kong enterprises.

At the “2023 Hong Kong Web3 Carnival” sub-forum, Mr. Zhang Guojun, Deputy Director of Hong Kong’s Department of Justice, presented a discourse, announcing the launch of the $10 million Web3Hub Ecosystem Acceleration Program to incentivize more enterprises to establish in Hong Kong. In the future, Hong Kong will optimally leverage its unique advantages under the “One Country, Two Systems” principle, drive top-tier development through technological innovation, and attract talent.

“Blockchain+” Empowerment — Imminent Launch

Blockchain has emerged as a prominent technological trend in recent years, capturing the interest of numerous entrepreneurs and investors. It is leading a new technological and industrial revolution and becoming a key strategic asset for digital technology innovation and business model reformations.

The Hong Kong Special Administrative Region Government has consistently focused on the coordinated construction of the digital economy and the progressive evolution of emerging technologies. In this regard, the Hong Kong Science Park has launched a number of targeted support programs, providing support for technology start-ups in aspects such as office facilities, commercial financing, technological research and development, and market promotion.

As the largest technology innovation park in Hong Kong, the Science Park is committed to nurturing and attracting talents, striving to establish Hong Kong as an International Innovation and Technology Hub. At present, the Science Park has established a thriving innovation and technology ecosystem in Hong Kong, gathering over a thousand technology companies specialized in biopharmaceutical technology, artificial intelligence and robotics, fintech, and smart cities development.

Since its establishment in 2017, IOST has persistently pursued the progressive research and development of blockchain core technology and application use-cases. It is dedicated to launching reliable blockchain platforms and products to the market, providing accurate and effective connections for the supply and demand of the industry. At present, IOST has empowered the digital transformation and upgrading of enterprises across various sectors, such as anti-counterfeiting traceability, supply chain finance, data asset sharing, and equitable recording, utilizing “Blockchain+” technology.

To further foster dialogue and collaboration with local institutions and enterprises in Hong Kong, the IOST team has persistently expanded its investment in the strategic design of the Hong Kong ecosystem development, building an “8-person Hong Kong Special Force.” This group is responsible for ecological growth and business develpment in Hong Kong, including team members from internationally distinguished law firms and local Web3 industry leaders in Hong Kong. IOST shall optimally leverage its unique strengths to provide comprehensive, multi-tiered, tailored assistance services and “Blockchain+” digital empowerment for its ecosystem partners in Hong Kong. This support will cover areas such as financing, technology, token models, marketing, community development, and connections with trading platforms.

IOST x Science Park Meeting Recap

On April 14, 2023, IOST and the Hong Kong Science and Technology Park engaged in profound dialogues and deliberations on Blockchain+ — Fostering Corporate Digital Transformation and Advancement and IOST Ecosystem Projects Entering the Park. Key personnel from the Science Park, IOST’s Chief Business Officer and Chief Marketing Officer, regional leaders from Japan and Hong Kong, OKCoin Japan’s Chief Executive Officer, some representatives of IOST’s top node ecosystem, and Hong Kong compliance consultants participated in this exclusive meeting.

“President Xi Jinping of the People’s Republic of China inspected Hong Kong Science Park in July 2022. As the largest innovation ecosystem in Hong Kong, the park has 40,000 square meters of research office and laboratory space, with over 1,100 technology companies and park companies covering 22 countries and regions worldwide. Science Park also provides a full-process project incubation and nurturing service for innovative enterprises, including concept, IDEATION program, entrepreneurial training program, corporate acceleration program, and elite enterprise program. In the future, Science Park will welcome more international high-caliber innovation projects to join the incubation base, offering an unbiased nurturing program to enhance the diversification of the Hong Kong market.”

Matt Hu, Senior BD Manager at the Hong Kong Science and Technology Parks Corporation

“As an international public chain, IOST possesses highly advanced underlying technology in the blockchain domain. Since the mainnet launch in 2019, it has not experienced any security issues or attack incidents. Furthermore, IOST has a presence in the strictly regulated Japanese and Korean crypto markets, collaborating with numerous high-quality ecosystem partners. Our team boasts robust capabilities and extensive experience in technology development and international compliance. We aspire to introduce more international projects into local cultivation programs through the Hong Kong Science Park platform, thereby fostering the diversified growth of the Hong Kong market.”

Blake, Co-CEO at IOST

“At present, the IOST ecosystem has a solid foundation for development and cooperation in the Japanese market. These ecosystem project teams demonstrate remarkable potential and market prospects concerning research and innovation, particularly in the Web3.0 field. We hope that IOST’s leading ecosystem projects will participate in the Science Park startup incubation program shortly, unleashing more Web3.0 dynamism in Hong Kong.”

Makoto, Head of Japan at IOST

IOST’s long-term ecosystem partner EverSystem also attended the meeting. EverSystem is an IOST contributor to Japan’s blockchain education, having cooperated with the IOST team to organize over ten blockchain education series events, reaching more than 700 students. At the gathering, EverSystem CEO Dr. Takao Wada conveyed his desire to collaborate with IOST and Science Park in conducting Web3-related educational activities, promoting the inventive evolution of Hong Kong’s blockchain industry.

Lastly, Kazuki, leader of IOST’s Coinpost in Japan — official media partner of IOST, expressed that, as a top-tier Web3 media in Japan, Coinpost maintains a vast user base in the Japanese market. With the Hong Kong government’s receptiveness to Web3.0, we hope to utilize the Coinpost platform to facilitate information exchange between Hong Kong users and international users (especially Japanese users), promoting the growth and flourishing of Hong Kong’s digital innovation landscape from multiple perspectives.”

Technology R&D + Ecological Layout — A 4-wheel Drive

The IOST team has consistently adhered to persistent cultivation and innovation, continuously optimizing its six core technologies — multi-cloud support, multi-chain support, permission management, multi-language smart contracts, privacy protection, and consensus mechanisms. Since the official launch of the IOST mainnet on February 25, 2019, we have completed more than 50 upgrades and updates, from Olympus v1.0.0 to Olympus v3.9.2.

Following the mainnet upgrade in 2023, IOST 2.0 will feature greater throughput and usability, emerging as a real Web3 blockchain operating system. IOST 2.0 — The Merge will adopt a Beacon Chain + Smart Chain architecture compatible with EVM, and both will communicate using the standard Engine API. In addition, IOST 2.0 will continue to evolve and upgrade multiple subchains, including generic EVM smart contract chains and specialized subchains, such as NFT, gaming, and AI Native chains.

Core Technological Advantages of IOST:

Multi-cloud support: By utilizing standard blockchain protocols, IOST can provide services compatible with a variety of environments, including but not limited to major public clouds, cross-cloud platforms, private clouds, and more.
Multi-chain support: Facilitates multiple organizations in creating numerous chains based on different scenarios, ensuring data isolation between each chain.
Permission management: Employs CA certificates to efficiently manage entities and oversee users within organizations.
Multi-language smart contracts: Smart contracts are applications running on blockchains that intelligently adapt to different application scenarios.
Privacy protection: Implements PKI-based digital certificate identity management, multi-chain isolation, encryption, smart contract control, and other methods to safeguard confidential information.
Consensus mechanism: Supports Hyperledger’s native consensus mechanism and the PoB consensus algorithm, allowing users to flexibly choose and switch according to their business needs.

At present, IOST’s Web3 ecological framework in countries such as Singapore, Japan, and South Korea, and regions like Europe, the United States, and Southeast Asia has progressively matured. IOST has established in-depth collaborations with the Singapore Enterprise Development Board, Singapore Blockchain Research Institute, Fujimi City Government of Japan, AWS, Hyperledger, Cyberspace, and the Japan Blockchain Industry Association. These partnerships effectively empower the digital innovation development of the real economy through blockchain technology.

IOST International Ecological Framework

As of April 2023, the IOST ecosystem embraces over 500 partner nodes from 30 countries worldwide and numerous high-quality partners. This includes dozens of mainstream media outlets — Cointelegraph, Jinse, Coinpost, Bitcoin.com, and more, leading exchanges — Binance, Huobi, OKX, CoinCheck, Upbit, and more, top-tier technical teams — Metanyx, Platinum Egg, NFT-Japan Inc., and more, and enthusiastic community builders.

IOST Efforts in Blockchain Education:

Collaboration with Ethereum and Hyperledger to contribute to the curriculum at Singapore’s Institute of Blockchain Studies (IBS).
Partnership with BlockDevs Asia to launch online educational tools, storing learning certificates on the blockchain.
Signature of an MOU with the University of Zurich for in-depth collaboration.
Invitation from the IEEE to deliver online lectures at various Japanese universities.
Co-hosting a blockchain hackathon with the Kindai University in Japan.
Scholarship program for a blockchain master’s degree in collaboration with the University of Nicosia.
Collaboration with Yamaguchi University’s Faculty of Engineering and the Harumura Lab to host Web3 summer school events.

IOST Efforts in Enterprise Digital Upgrades:

Strategic partnership with EHang to provide secure and reliable data management systems.
Partnership with King Kong Games to revolutionize game development, distribution, promotion, and profit models using blockchain technology.

IOST Efforts in Medical & Charity

Collaboration with Mantra and Apolo Foundation to enhance the authority, transparency, and public trust of blockchain charity services.
Partnership with renowned Japanese medical institution — Pracs to create a blockchain-based medical record system.

IOST Efforts in Smart Cities

Collaboration with Fujimi City Power Plant (Japan’s third-largest power plant) to develop a blockchain-based electricity trading system.
Meeting with Singapore’s Enterprise Development Board (ESG) to explore commercial applications of blockchain and jointly promote ecosystem development.

Citing Hong Kong Chief Executive Mr. Lee Ka-chiu: “The development of Web3 is now at a golden starting point, and this disruptive technology can change many traditional business models while creating new opportunities.” IOST aims to be a leader in the wave of innovation brought by Web3.

IOST and BitValue’s Joint Ecological Incentive Fund: Exclusive Support for Hong Kong’s Web3.0 Market Expansion

Canadian Web3 investment firm BitValue Capital announces a strategic partnership with IOST through a USD 10 million long-term investment. BitValue and IOST will jointly launch a $5 million Ecosystem Incentive Fund to provide more support for global developers and accelerate the construction and development of the IOST ecosystem.

The strategic partnership aims to support IOST’s mainnet upgrade and ecosystem development.

medium.com

Dedicated Support for Hong Kong Market Expansion:

Compliance consultation in Hong Kong: Collaboration with industry-leading KOLs, distinguished scholars, and policy researchers
Deployment of Products and Services in Hong Kong: Assistance for Web 2.0 organizations and enterprises establishing or expanding operations in Hong Kong
Amplification of International Visibility and Market Influence: Support from top-tier local media and social platforms in Hong Kong
Expanding international liquidity: Integration with ecosystem resources

If you would like to provide any resources or wish to collaborate with us in Hong Kong, please contact us via our team’s email hk@iost.io

About IOST

High fees and slower transaction times on the Ethereum network have left the door open for new solutions to emerge, and IOST is one such project that has been gaining traction since its mainnet launch in 2019.

Backed by significant financial and VC firms such as Sequoia, Matrix, and ZhenFund, IOST is a pioneering decentralized, high-throughput, gas-efficient Proof-of-Believability-powered smart contract platform built to tackle the scalability trilemma once and for all. For this, the concluding ranking from China’s CCID ranked IOST as the best blockchain platform under Basic Technology, better than Ethereum, EOS, and every other smart-contracting platform evaluated by the agency. This is a testament to the quality and ability to roll out a better, innovative product and reflects our genuine desire to be the best in the sphere.

Being one of the public chain leaders in adoption, performance, and utility, IOST remains committed to our mission to unleash the power of blockchain. IOST currently has an ever-expanding 500,000 members community in over 20 countries, over 400 nodes, a top-tier staking ecosystem, and symbiotic relationships with corporations dotted worldwide.

If you would like to hang out with the IOST community on chat or social media or discuss product development, we have something for everyone:

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