Hong Kong Web3 Festival 2024 Recap: CESS at the Forefront of Innovation
rom April 6th to 9th, the 2024 Hong Kong Web3 Festival has once again positioned the city as a beacon of technological innovation and thought leadership in the blockchain and cryptocurrency sectors. Amid the bustling environment and the scenic backdrop of one of Asia’s most dynamic cities, CESS (Cumulus Encrypted Storage System) marked its presence as both a sponsor and a key participant in this year’s event.
CESS engaged in-depth with a host of innovative projects, showcasing advanced decentralized storage and content delivery technologies to numerous Web3 enthusiasts and professionals. Continuously cultivating the DePIN track, CESS is committed to providing infrastructure for the future Web3 data economy. Let’s take a look back at some of the hot topics, development trends, and CESS’s highlights from this year’s Web3 Festival.
Industry Standardization: An Imperative Necessity
Hong Kong Web3 Festival 2024 featured high international participation and in-depth discussions on Web3 standardization. Compared to last year, the uniqueness of this year’s festival lay in its emphasis on practical use cases and solutions, as well as forward-thinking on the future development directions of cryptocurrencies and blockchain technology. During the festival, CESS paid special attention to collaborative opportunities with other leading Web3 projects and businesses. Particularly, discussions on Web3 standardization revealed the necessity of establishing common standards and frameworks for future technological development, which can not only drive the industry forward but also foster cross-industry cooperation.
Undoubtedly, Web3 requires standardization because it ensures seamless interaction and collaboration between different blockchain technologies and applications, which is crucial for creating a decentralized, interoperable digital ecosystem. Standardization is beneficial for improving development efficiency, reducing compatibility issues, fostering innovation, ensuring user safety, and protecting data privacy. It also helps provide clear guidelines for developers and more consistent and reliable experiences for users, thus promoting the healthy development and expansion of the entire industry.
On April 5, 2024, CESS (Cumulus Encrypted Storage System) attended the first council meeting of the year as a deputy member of the Hong Kong Web3.0 Standardization Association. The meeting brought together renowned companies and experts from various fields to discuss and promote the standardization of the Web3.0 domain.
CESS’s participation in the 2024 first council meeting of the Hong Kong Web3.0 Standardization Association not only showcased our deep involvement and contributions to the standardization process in the Web3.0 domain but also highlighted our key role in promoting the development of decentralized storage technology and networks. The approval of the IEEE P3233 “Standard for Blockchain-Based Decentralized Storage Protocol Specification,” previously advocated by CESS, demonstrates our leading position and innovative strength in decentralized storage technology.
This achievement is not only a testament to CESS’s technological innovation and leadership but also an important driving force towards a more standardized and regulated development path for the decentralized storage industry. Through such platforms and activities, CESS is committed to discussing and establishing industry standards with industry peers, promoting the healthy development of the Web3.0 ecosystem, and providing safer, more reliable, and more efficient decentralized data services for users worldwide.
The Surge of DePIN: Catalyzing the Development and Availability of Infrastructure
If there’s one buzzword that caught the attendees’ attention at this Web3 festival, it’s undoubtedly DePIN. With the rapid development of DePIN this year, we can anticipate a surge of innovative decentralized physical infrastructure projects emerging, providing more secure, efficient, and transparent solutions for data storage, computing power, and content distribution. The widespread adoption of DePIN will significantly lower the barriers to entry, allowing more individuals and businesses to conveniently access and utilize these infrastructures, thereby promoting the healthy development and technological innovation of the entire industry. In the future, driven by DePIN, we will witness a more prosperous and interconnected digital world.
At the 2024 DePIN Global Hardware Summit held on April 8th, CESS, as a pioneer in the blockchain storage and CDN domain, was invited to exhibit. During the conference, we not only showcased CESS’s latest technologies and achievements but also engaged in in-depth discussions with mining communities, Web3 developers, and industry leaders from around the world about the future directions and application prospects of DePIN technology.
Particularly noteworthy is that our Co-founder and COO Jessie participated in a highly-anticipated panel discussion, sharing her insights and perspectives on the future development of DePIN technology alongside other industry experts. Her remarks not only elaborated on CESS’s role and contribution in innovating the decentralized storage domain but also provided attendees with inspiration and ideas on how to effectively leverage DePIN technology to explore new territories.
This DePIN Global Hardware Summit was not only a platform for CESS to demonstrate its strength and broaden partnerships, but also a valuable opportunity for us to interact deeply with the global Web3 community and collectively explore the future of blockchain technology. We look forward to CESS continuing to drive the innovation and development of DePIN technology in the coming days, contributing to the construction of a more open, fair, and efficient digital world.
Leveraging AI as a Catalyst: Blockchain to Integrate with More Practical Use Cases
Projects related to AI or focused on AI stood out among the exhibitors at the Web3 Festival. It can be said that projects featuring AI in their posters and booth introductions not only attracted the attention of attendees but also the interest of other projects. With the breakthroughs and popularization of Artificial Intelligence (AI) technology, we are standing on the threshold of a new technological revolution. The explosive growth of AI lies not only in its advancement but also in how it integrates with other technologies, especially blockchain, to create limitless possibilities. The decentralized, transparent, and immutable nature of blockchain provides a safer and more reliable platform for data sharing and interaction for AI. This integration will not only promote the wide application of AI in finance, healthcare, education, and other fields but also push blockchain technology beyond the traditional framework of currency transactions to integrate with more practical use cases. Driven by AI, we will witness a new landscape of blockchain applications, marking an important milestone in technological integration and innovation development.
CESS foresees that the future development of Web3 will place greater emphasis on user experience, data privacy, and security. With continuous technological progress and the expansion of application cases, Web3 is expected to integrate more deeply into daily life, promoting a more open, interconnected, and decentralized digital economy. Not just AI, but the integration of blockchain technology with the Internet of Things (IoT) and other cutting-edge technologies will open up new growth areas for Web3.
In addition, trends such as in-depth discussions about regulatory frameworks, mainstream users’ trust and adoption of Web3, and the closer integration of Web3 technology with the real world were also focal points of the conference.
Next Stops — Japan and Dubai!
Japan 13–14 April 2024 — TEAMZ WEB3 / AI SUMMIT 2024 EVENT https://en.web3.teamz.co.jp
Dubai 16–17th April 2024 — Web3 Summit Dubai (DIFC DMCC) https://lu.ma/web3summit
16 April 2024 — Disrupt with DePIN ~ Token 2049 Dubai https://lu.ma/disrupt-depin-dubai
17th April — OOKC LABS 2049 Token Eve https://lu.ma/night2049
19th April — Duke Web3 Investor Soirée by Ga³in Ventures https://lu.ma/q0udtmiw
19th April — Decentralized Dialogues: Exploring AI and Decentralized Governance in Token2049 https://lu.ma/decentralized-dialogues-token2049
21th April — Duke Web3 Pitch Competition & VC networking — Bull City Blockchain Battle @Token2049 https://lu.ma/p5drqh6p
22–23 April 2024 — World Blockchain Summit https://www.worldblockchainsummit.com/dxb-apr-24
Meet CESS in Dubai
The 2024 Hong Kong Web3 Festival not only provided CESS with the opportunity to interact with the global community but also laid the foundation for future collaboration and innovation. As Hong Kong continues to evolve into a powerhouse for crypto and blockchain, CESS is set to play a significant role in advancing the adoption and standardization of Web3 technologies.
In the upcoming trip to Dubai, we anticipate gathering more top experts and innovators from the global blockchain and Web3 domains. This journey will serve as a platform to showcase CESS technology and achievements, and also as an excellent opportunity for in-depth exchanges and discussions on collaboration with industry leaders. We will delve into the future development of decentralized storage and CDN, as well as how the integration of DePIN technology and AI can usher in a new era of Web3 applications.
In the future, CESS will continue to dedicate itself to innovation in technology, contributing to the construction of a more secure, efficient, and decentralized digital economy and data value network.
