Taiwan’s Potential as ‘Crypto Island’, 6th ‘Hit AI & Blockchain’ Summit Held in Taipei – CryptoMode

by Arthur · February 15, 2023

On February 15, 2023, the 6th “Hit AI & Blockchain” Summit was successfully held, bringing together leaders from around the world to explore the direction of the development of the blockchain and cryptocurrency industry in Taiwan.

Looking back at 2021-2022, the global market has experienced ups and downs, while the blockchain industry is again going up and down. Many new practitioners and investors were confused because of the one-year bull market followed by the one-year bear market.

After reaching an all-time high of $68,990 in November 2021, the Bitcoin market suffered a bear market in 2022, falling to a low of $15,782 after being hit by the FTX stock market crash, which has caused the total market cap of the cryptocurrency to fall by two-thirds, thus losing 1 trillion dollars. However, after a setback in the spring of 2023, Bitcoin has so far rallied 40% to a range of $22,000-23,000, leaving investors stunned! The shortfall has been followed by a strong move, which has brought the cryptocurrency market cap back to $1 trillion.

This situation has already been the “new normal” in the blockchain industry, and the “new order” will follow. The increasing government regulation of centralized exchanges and Stablecoin makes the general industry environment and development less permissive.

Cryptocurrency has returned to the market cap of USD 1 trillion. How can investors cope with the upward and downward shocks? In addition, there is still a focus for Taiwan’s industrial development on whether there are more applications for cryptocurrency and blockchain technology. To explore the direction of the development of the blockchain and cryptocurrency industry in Taiwan, the 6th “Hit AI & Blockchain” Summit was successfully held, gathering leaders from all over the world to explore the direction of the industrial development of blockchain and cryptocurrency in Taiwan.

According to Digital Affairs Minister Audrey Tang, the government’s role is to expand the viable prototype, so that more people can join voluntarily. The Ministry of Digital Affairs (MODA) will continue to promote the use of reliable methods to bring Web3 technology into the normal track because a properly designed mechanism can promote more social participation. The more people who participate in the management, the better and more complete the mechanism will be.

Taking personal information protection and insurance as an example, former vice mayor of Taipei Huang Shan-shan pointed out that blockchain can be the solution to protect the security of relevant data! She hopes that the government can speed up the combination of law and technology to promote more new technologies to successfully become part of the lives of Taiwan’s people.

Former Chairman of NDC & Chief Convener of Taiwan Blockchain Alliance Chen Mei-ling emphasized, all countries in the world have already devoted their efforts to promoting Metaverse and Web 3.0, and the Taiwanese are ready to go! That is why she continues to appeal to the Taiwan government to lead the people and provide a more visionary and macroscopic vision. “With a complete policy, I believe that in the development of new technologies we can move like a rabbit and make rapid progress!” Chen said during the summit.

(Former chairman of NDC and chief negotiator of Taiwan Blockchain Alliance Chen Mei-ling)

An award ceremony, “The 5th Blockchain Authority of Value” was also presented at the 6th “Hit AI & Blockchain” Summit today.

For the previous four award ceremonies, past awardees include Taiwan Vice President Lai Ching-te, Legislative Yuan President You Si-kun, former Premier of the Executive Yuan Chang San-cheng and former Taipei Mayor Ko Wen-je. For this year’s award, we are inviting four women leaders, including the former NDC Chairman & Chief Convener of Taiwan Blockchain Alliance Chen Mei-ling, former NCC Chair Nicole Chan, former Taipei Vice Mayor Huang Shan-shan, and Chairman of Taiwan Women on Boards Association & Co-founder of Lee, Tsai & Partners Attorneys-at-Law Jacyln Tsai, to present an award and personally encourage high-quality blockchain startup teams.

The winners are as follows: ACE exchange for most reliable centralized exchanges, AIspeakin Voice Transcription Service for Ubestream for best AI semantics/voice solution, The MaiCoin Group for Best Crypto Currency & NFT Service Group, and Paul Fan as Co-founder and CEO of CYBAVO for Person of the Year.

About the 6th “Hit AI & Blockchain” Summit

Initiated and organized by KNOWING News, Bitnance and SR-Tech Media, the “Hit AI & Blockchain Summit” is the first summit combining AI and Blockchain issues in Taiwan. The summit focuses on the current status and future of AI and Blockchain through in-depth discussions on multiple applications of AI, 5G, smart cities, CBDC (Central Bank Digital Currency), DeFi (Decentralized Finance), NFT and Metaverse, and other key topics between leaders from Taiwan and overseas. We hope that from the “Hit AI & Blockchain Summit”, we can help Taiwan’s artificial intelligence and blockchain industry continue to flourish, make progress and move forward.

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