On September 17, the "TIMESTAMP 2024" summit co-organized by ABCDE and Solv officially closed at the Fairmont Hotel in Singapore. "TIMESTAMP 2024" is the second "TIMESTAMP Summit", focusing on more than ten focus topics such as Layer2 solutions, Bitcoin ecology, New Infra, AI+Crypto, etc.
The conference invited the most innovative industry ecosystem leaders and Web3 entrepreneurs to attend the conference, including Kevin Farrelly, managing partner of Franklin Templeton, Emad Mostaque, founder of Schelling AI, Eli Ben-Sasson, co-founder of StarkWare, Muneeb Ali, co-founder of Stacks, Ryan Chow, co-founder of Solv Protocol, Jacob Phillips, founder of Lombard, Fisher Yu, founder of Babylon, and Charlie Hu, co-founder of Bitlayer.
At the beginning of the meeting, Kevin Farrelly, managing partner of Franklin Templeton, delivered a keynote speech entitled "Forging the Future: Investing and Building Cryptocurrency in Market Uncertainty".
Kevin Farrelly said that Franklin Templeton has been committed to bringing more real-world users into the blockchain world. He is an active participant and builder of the crypto asset ecosystem and has witnessed the transformative power of blockchain technology. At the same time, Franklin Templeton is also the issuer of Bitcoin and Ethereum spot ETFs, promoting crypto assets to become an emerging investment force in people's traditional investments, greatly enriching the diversity of people's investment portfolios.
Vivian Wu, head of Huawei Cloud Web3, expressed her original intention to help Web3 companies expand their ecological construction in the "New Infrastructure" roundtable discussion, and introduced the Web3 node engine service NES, which officially began commercial use this year. It provides Web3 infrastructure services such as traditional nodes and staking nodes to global public chain ecosystem users, helping DApp developers and network validators to achieve faster, more stable and efficient network connections, and improve development efficiency and node revenue.
Solv co-founder Ryan Chow delivered a keynote speech on the topic of "Staking Bitcoin Abstraction Layer". Ryan Chow shared that a unified, standardized, and secure staking process is crucial to the success of BTC staking. The rapid growth of Bitcoin staking protocols has brought challenges to users' decision-making and higher costs for obtaining benefits. At the same time, Ryan Chow believes that BTCFi still has unique challenges in cross-chain, including increasing complexity and high risks.
Kyle Ellicott, Head of Investor Relations at Stcks, delivered a keynote speech titled "Bitcoin Revolution - The Bitcoin Era & How Layer2 Will Push Bitcoin into a Market with Billions of Users."
Kyle Ellicott said in his speech that BTC has been considered a value storage since its birth, because Bitcoin (Layer1) can maintain stability very well, and in the upcoming Bitcoin era, Bitcoin will transform from a value storage network to a practical network. Compared with the Ethereum DeFi market, BTC DeFi has a huge market space. The current ETH market is 425 billion US dollars, and the TVL on Ethereum is about 61.2 billion US dollars. The market value of BTC is 1.28 trillion US dollars, but the TVL on the Bitcoin network is only 3.25 billion US dollars. Bitcoin still has 184.4 billion US dollars of TVL that has not been fully developed, and there are still 45 million wallet addresses on the chain holding BTC worth more than 100 million US dollars. With the innovation of building applications on the Bitcoin network, there is huge room for growth of TVL on the Bitcoin chain in the future.
In his speech, Yu Feng, founder and CEO of Nubit, said that the technological gap between developers and Web3 infrastructure is the "last mile" problem in the Web3 world. Web2 has achieved large-scale application through WeChat's developer tools (Tencent Cloud, WeChat Pay, mini-programs, chats and Moments), but Web3 has not yet produced a phenomenal application that is widely accepted by the public.
Yu Feng believes that Web3 needs to achieve the following three points in order to achieve large-scale application in the real world: 1. Unify wallets. Wallets are crucial as the entry point for Web2 users to enter the Web3 world; 2. Empower users with mini chains. Future consumer applications should enable users to participate in the ecosystem they contribute to and benefit from it, rather than just extracting value; 3. Solve the fragmentation problem. Yu Feng introduced that Nubit is promoting the concept of "multi-DA". The project uses multiple DAs at the same time, so that even if one of the DAs crashes due to a bug or token security, it will not affect the security of the project.
BingX Labs Director Vivien Lin shared on the spot: “How to drive growth and innovation in a decentralized world?”
Vivien Lin said that the global Web3 market will exceed US$6.63 billion in 2024 and will exceed US$177.58 billion by 2033. BingX Labs is committed to exploring high-potential projects in the Web3 market and helping to effectively deploy tokens. It will also provide technical support and Strategic consulting and other services help new startups thrive, promote exchange product innovation, and provide strategic direction and support for potential blockchain projects.
Schelling.AI co-founder and CEO Emad Mostaque delivered a keynote speech on the topic of AI. In his speech, Emad Mostaque shared the data of Stability.AI, a star AI project he founded before. Since its launch, Stability.AI has been downloaded more than 300 million times. In addition, he also shared the classic quote "Not your models, not your mind". At present, AI technology has broad application scenarios in the fields of artificial intelligence education, health, finance, verification, collaboration, etc.
This year's "TIMESTAMP Summit" focuses on discussing the rise of emerging crypto forces in Asia and exploring new industry narratives under compliance supervision, providing an open communication platform for crypto practitioners in Asia and around the world to jointly create a new era of Asian crypto economy.
