a month ago 3 min read

6th "Hit AI & Blockchain" Summit Held in Taipei Discussed Taiwan's Potential as "Crypto Island"


The 6th "Hit AI & Blockchain" Summit, which brought together international leaders to discuss the future of the blockchain and cryptocurrency industries in Taiwan, was successfully conducted on February 15, 2023.

Looking back on 2021–2022, the world economy saw highs and lows, while the blockchain sector is currently experiencing another ups and downs. Due to the one-year bull market followed by the one-year bear market, many novice investors and practitioners were perplexed.

The Bitcoin market experienced a bear market in 2022, dropping to a low of $15,782 after being hit by the FTX exchange crash, which caused the cryptocurrency's total market cap to decline by two-thirds and lose the $1 trillion threshold. This happened after the market reached a record high of $68,990 in November 2021. Investors have been shocked by Bitcoin's 40% rise to a range of $22,000–23,000 since a spring comeback in 2023. After the shortfall, a significant surge lifted the market valuation of cryptocurrencies back to the $1 trillion threshold.

The "New Order" will follow what has already been the "New Normal" in the blockchain sector. The general business environment and development are becoming less permissive as a result of the growing government regulation of centralized exchanges like Stablecoin.

The market cap for cryptocurrencies has surpassed $1 trillion USD once again. How can investors learn to handle up and down shocks? Additionally, the development of Taiwan's industrial sector continues to be focused on whether there are additional applications for cryptocurrencies and blockchain technology. The 6th "Hit AI & Blockchain" Summit was successfully organized in order to examine the direction of the growth of the blockchain and cryptocurrency industries in Taiwan. It brought together leaders from all around the world to do this.

The government's job, according to Minister of Digital Affairs Audrey Tang, is to broaden the usable prototype so that more individuals can willingly join. In order to integrate Web3 technology into the mainstream, the Ministry of Digital Affairs (MODA) will continue to advocate for the use of tried-and-true techniques since a well-thought-out mechanism can encourage greater social interaction. The governance system will be more effective and comprehensive the more people who participate in it.

Former Taipei Deputy Mayor Huang Shan-shan made the argument that using the protection of personal information and insurance as examples, the blockchain may be the answer to safeguard the security of pertinent data! She expects that the government will expedite the application of law and technology in order to successfully promote more new technologies and make them a part of Taiwanese society.

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

Today at the 6th "Hit AI & Blockchain" Summit, an award ceremony for "The 5th Blockchain Authority of Value" was also held.

For the previous four award ceremony, previous award presenters include Taiwan’s Vice President Lai Ching-te, Legislative Yuan President You Si-kun, the Former Premier of the Executive Yuan Chang San-cheng, and Former Taipei Mayor Ko Wen-je. For this year’s award, we invite four female leaders, including the Former Chairwoman of NDC & Chief Convener of Taiwan Blockchain Alliance Chen Mei-ling, Former NCC Chairwoman Nicole Chan, Former Taipei Deputy Mayor Huang Shan-shan, and Chairperson 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 start-up teams.

Following are the award winners: ACE Exchange for Most Trusted Centralized Exchange; AIspeakin Voice Transcription Service of Ubestream for Best AI Semantic/ Voice Solution; MaiCoin Group for Best Crypto Currency & NFT Service Group; and Paul Fan as Co-Founder & CEO of CYBAVO for Person of the Year.

What the 6th "Hit AI & Blockchain" Summit is About

The "Hit AI & Blockchain Conference" is the first summit that integrates AI and Blockchain concerns in Taiwan, and it was initiated and organized by KNOWING News, Bitnance, and SR-Tech Media. Through in-depth discussions about various applications of AI, 5G, smart cities, CBDC (Central Bank Digital Currency), DeFi (Decentralized Finance), NFT and Metaverse, and other important topics between leaders from Taiwan and abroad, the summit focuses on the current status and future of AI and Blockchain. Starting with the "Hit AI & Blockchain Summit," we hope to support Taiwan's artificial intelligence and blockchain sector as it continues to grow, advance, and advance.

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