As countries' policies gradually improve and traditional financial institutions continue to enter, digital assets are transitioning from an experimental stage to a new era of scaling and mainstream application. On October 15, the (New Trends in Digital Asset Development Forum 2024) hosted by Bloomberg successfully took place, with in-depth discussions centered on cutting-edge technologies, market trends, and future directions in the digital asset field.

In the opening speech of the event, Zhan Yaohua, head of Bloomberg China Enterprises and Commodities, warmly welcomed the attendees and briefly introduced Bloomberg's other professional services beyond news. He also showcased Bloomberg's powerful financial data services to the audience on site.

Subsequently, Wei Changzheng, Chief Researcher of AntChain OpenLabs, brought valuable insights to the audience. In the keynote speech ('Accelerating' into the Web3 Era), he chose zero-knowledge proof (ZKP) technology as a starting point, sharing content from the development background, technical concepts, properties and composition, to the iterative development of ZKP, application scenarios, and ZKP technology systems under AntChain's hybrid architecture.

In the final roundtable discussion, Du Yu, Deputy General Manager of Wanxiang Blockchain, Jade, COO of Tomo Wallet, Wayne, Co-Founder of MEET48, Yvette, Investment Director of Xterio, Nemo, Investment Director of Web3.com Ventures, and Tongtong Bee, Co-founder of PANews & PANONY who served as moderator, engaged in discussions and exchanges on the theme (Where is the mass application of Web3? Exploration of crypto assets in multiple fields).

Guests from different tracks and roles in the industry presented various viewpoints on the current state of the crypto industry, the prospects for mass adoption, the integration of AI and Web3, and the meme token craze.

'Terms like the first year of mass application and the eve of mass application have been used for many years, but I feel that so far, we have not reached that level.' Du Yu, Deputy General Manager of Wanxiang Blockchain, believes that the inability to achieve mass application in the past was mainly constrained by the level of infrastructure development. With technological advancements, user experience issues are gradually being resolved, and the path to mass application is just beginning. However, he also pointed out that many good trends and signals have already emerged, and the industry's focus is shifting from infrastructure construction to application development.

Yvette, the investment director of Xterio, is even more optimistic: 'Compared to the previous cycle, some game products have already achieved a large-scale introduction of new users.' Taking the pixel-style simulation management game Pixels as an example, she believes that some products similar to Pixels in this cycle have attracted millions of monthly active users, surpassing the peak of the previous cycle's top product Axie, merely because the market's attention has been more dispersed towards new narratives like DePIN, AI, and RWA, and has not fully focused on the development of segmented products.

In recent years, artificial intelligence has almost become a topic that all practitioners in the fintech industry will inevitably mention, and its integration with Web3 technology is also one of the key focuses of the industry. Nemo, the investment director of Web3.com Ventures, believes that individuals and industries exist on different dimensions and require both long-term and short-term perspectives for analysis. He stated that in the short term, both AI and Web3 are actually in a bubble cycle, but this does not mean it is unfavorable for everyone; different positions will have different perspectives. For entrepreneurs, their development funds will be more ample, and the cost of trial and error will be lower. 'So in the long term, I am quite optimistic,' Nemo added, emphasizing that the core issue lies in whether the so-called data decentralization can truly be realized.

In the current context of the crypto industry lacking vitality and growth points, various Memecoins have become hits, always accompanied by various criticisms and concerns when they go viral. Jade, COO of Tomo Wallet, believes that Memecoins serve as a window for Web2 users to see Web3; their wealth effect, underlying culture, and captivating attributes may attract many young Web2 users.

Wayne, Co-Founder of MEET48, stated that the explosive popularity of Memecoins indeed reflects many existing problems within the industry, but its emotional value attribute cannot be ignored. Especially in the context where the distribution methods of so-called value coins often attract community criticism, the value orientation triggered by Memecoins, stemming from emotions, can to some extent avoid related issues.