SenseTime Launches SenseRobot Smart Lamp, Modernize Family Life with Advanced AI Technology

03.01.2024
NEWS PROVIDED BY SENSETIME


News


Beijing, 3 January 2024 – SenseTime, a global leading AI software company, introduced SenseRobot Smart Lamp (“Smart Lamp”) as the latest member of its “SenseRobot” product series. Committed to bring cutting-edge AI technology to every household, SenseTime designed its first AI desk lamp tailored for students with three major AI-powered functions: eye protection, posture correction, and concentration enhancement. It is equipped with full-spectrum natural light that exceeds China’s AA certification standards for eye protection desk lamps, and at the same time offers unique AI-powered features such as posture correction reminders, concentration detection and light adjustment based on book movement. These features are designed to prevent health issues like myopia, back pain, spinal dysfunction, while creating a more comfortable and relaxing learning environment.

Ma Kun, Co-founder of SenseTime and President of SenseRobot, commented, “SenseTime strives to build AI products that are people-oriented and driven by love, making AI visible, tangible, and accessible to everyone. The SenseRobot Smart Lamp combines SenseTime’s leading AI technology with astute insights into students’ needs for a conducive learning environment. We hope to transform desk lamp into an inspirational and valuable part of the household, not only serving as a guardian of children’s healthy growth, but also a pioneer in the era of intelligent desk lamps 3.0.”

SenseRobot Smart Lamp is designed for students with three major AI-powered functions: eye protection, posture correction, and concentration enhancement

Eye Protection Feature Exceeds National AA Level with a Touch of Modern “Dual-Wing” Design

According to a recent study[1] in Hong Kong, the number of young children suffering from myopia has reached record high. The prevalence of myopia among children aged 6 to 8 has risen to 36.2% and it is expected to remain high over the next few years. The heavy academic workload for students and prolonged exposure to poor lighting conditions while studying might significantly impact students’ visual health. Therefore, it is critical to choose a professional eye-protective desk lamp with high-quality light source to safeguard children’s vision and help prevent myopia.

The Smart Lamp’s eye protection standard exceeds the national AA level certification criteria. It features full-spectrum light that mimics natural daylight, does not pose any blue light hazard with Rg0 exemption level, and also eliminates visible flickering, effectively alleviating eye fatigue that occurs during prolonged reading. Additionally, the Smart Lamp can dynamically adjust the brightness and color temperature of the light according to environmental conditions to create a comfortable atmosphere. The dual-light design prevents direct exposure to the light source and ensures a healthy, comfortable, and high-quality lighting to protect children’s eyesight.

With its sleek and futuristic appearance and sci-fi design elements, the ultra-wide dual-wings resemble the solar array wings of a space station, and at the same time enable curved reflection and wide-angle light diffusion. The Smart Lamp brings the source of light from the era of AI into family learning environment, and not only serves as a supportive companion for students’ studies, but also help children maintain good posture and enhance concentration.

The ultra-wide dual-wings resemble the solar array wings of a space station and enable curved reflection and wide-angle light diffusion

Three Major AI Technology Innovations Including Industry’s First AI Spotlight

The Smart Lamp creatively utilizes AI computer vision technology to introduce three major AI features on top of professional eye protection: posture reminder, concentration detection along with a spotlight function to safeguard children’s eyes and spinal health while improving their focus for learning.

  • AI Posture Reminder: Through 3D analysis of human body’s skeletal joints, the Smart Lamp can identify 10 types of sitting postures with an accuracy rate of over 95%. When a poor posture is detected, such as leaning to the left, right, or forward, the Smart Lamp will send a gentle voice reminder to encourage children to correct their postures and prevent scoliosis.
  • AI Concentration Detection: The Smart Lamp can perceive children’s level of concentration and remind them to take breaks when needed, enhancing their learning efficiency.
  • AI Spotlight: A pioneering feature in the smart desk lamp industry, this allows the light to move along with the book. Using its visual sensors, the Smart Lamp guides the focus of the light on the book, and hence always keeping the book at the center of the light spot. It creates an optimal reading position to help children focus on their study materials.

Smart Lamp strives to improve overall energy efficiency with an AI seat vacancy sensor, which will automatically turn off after 3 minutes when a child leaves the seat. Moreover, the Smart Lamp can generate real-time reports on a mobile app with AI-generated data. This allows parents to remotely monitor their children’s progress and observe changes in their development. For example, the posture report helps parents monitor their children’s posture, track their tendency for incorrect postures, and thus provide appropriate corrections and guidance. The Smart Lamp can also generate a report on the children’s concentration level that shows the percentage of concentration time, eye protection curve, eye fatigue level, along with other data to help parents better understand their children’s ability to focus.

SenseRobot always places great emphasis on user privacy and security. The Smart Lamp employs various measures to safeguard user privacy, such as physical shielding and strict policy on not collecting environmental information. Users are also given the options to choose between the digital human mode or the snapshot image mode. Advanced data encryption techniques are implemented to provide comprehensive protection of personal privacy.

The SenseRobot Smart Lamp is now available for pre-order on JD.com and Tmall, at a retail price of RMB1,699.

 

[1]The Chinese University of Hong Kong, 30 August 2023: https://www.cpr.cuhk.edu.hk/tc/press/cuhk-study-reveals-prevalence-of-myopia-in-children-has-reached-record-high-in-hong-kong/


Hong Kong Licensed Virtual Asset Association Statement on JPEX Incident

29.09.2023
NEWS PROVIDED BY HONG KONG LICENSED VIRTUAL ASSET ASSOCIATION


News


The recent JPEX incident, which has attracted a lot of attention from the Hong Kong and international media, serves as a timely reminder of the importance of establishing a robust and supportive regulatory environment that promotes the development of a healthy virtual asset and Web3 ecosystem to ensure the integrity of virtual asset platforms and protect the interests of market players and the investing public alike. Like the previous Gatecoin, AAX and FTX episodes, the JPEX incident has once again brought to the limelight the risks posed by unregulated (or under-regulated) virtual asset platforms, including potential fraudulent practices, underscoring the need for rigorous regulatory supervision, transparency, and public education.

In the emerging landscape of virtual assets and Web3 economy, it is crucial to strike a balance between innovation and regulation. Whilst innovation drives the growth and potential of these technologies, effective regulation is necessary to mitigate risks, safeguard users, and maintain market stability. It is our belief that a well-designed regulatory framework should encourage responsible practices, promote adequate information disclosures, and deter illicit activities, which would not only protect investors but also enhance the credibility and trustworthiness of the virtual asset ecosystem as a whole.

To achieve this, effective collaboration between regulators, industry stakeholders and market participants is crucial. It is therefore one of our Association’s core objectives to promote regular engagement and dialogue with the Hong Kong regulators to facilitate positive policy developments by helping regulators stay abreast of technological advancements and market trends whilst allowing industry participants to contribute their expertise and insights.

To contribute to the efforts to raise public awareness of the opportunities and risks brought by virtual assets, our Association also aims to leverage the rich industry experience and knowhow of our members, being the leaders of the virtual asset and Web3 industries, to provide education and share our knowledge with new entrants to the virtual assert space, including enterprises, startup businesses and investors, and to help the public stay up-to-date on the latest regulatory, technological and market developments relating to virtual assets.

Whilst JPEX incident has demonstrated once again the risks and consequences of improper or even fraudulent practices of unregulated virtual asset platforms, this should not affect our city’s overall roadmap for virtual asset and Web3 ecosystem development. By working together to foster an environment that encourages responsible innovation, the Hong Kong regulators and market participants can jointly facilitate the emergence of new services, products, and economic opportunities which bring greater financial inclusion and enhance Hong Kong’s competitiveness as a vibrant international fintech hub.

 

Lawrence Chu

Chairman

Hong Kong Licensed Virtual Asset Association

 

Contact Us:


Terminal 3 Raises Pre-Seed Funding for Decentralized User Data Infrastructure

02.08.2023
NEWS PROVIDED BY TERMINAL 3


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HONG KONG, 2 August 2023 – Terminal 3, a Hong Kong-based Web3 startup, has successfully raised an oversubscribed pre-seed round to build user data infrastructure for a decentralized future. The company announced today a world-class investor group comprising 500 Global, CMCC Global, Consensys Mesh, Bixin Ventures, BlackPine, DWeb3, Hard Yaka, Bored Room Ventures, Mozaik Capital, and others.

The company aims to replace centralized data storage that deprives users of privacy and saddles enterprises with compliance and security issues and their associated costs. Terminal 3 leverages decentralized storage and zero-knowledge proofs to empower an equitable Web3, where user data is freely composable while remaining fully private and secure.

“The continued growth in blockchain allows us to reimagine digital data ownership and security,” said Gary Liu, CEO of Terminal 3. “We believe that data should flow freely between applications to drive innovation and improve user experience, but not at the expense of personal privacy and control.”

Terminal 3 was co-founded by Gary Liu alongside his partners Malcolm Ong (CPO) and Joey Liu (COO). All three were former entrepreneurs and business leaders who have built, scaled, and transformed some of the world’s leading technology companies. The co-founders previously worked together at the South China Morning Post, where they led the historic newspaper’s successful digital transformation. Gary was the Post’s CEO, while Malcolm and Joey were SVP of Product and Head of Strategy respectively.

Malcolm was also the Co-founder and CTO of Skillshare, the world’s largest online learning community for creativity, while Gary and Joey co-founded Artifact Labs, a Web3 startup backed by Blue Pool Capital and Animoca Brands that is preserving historical assets on the blockchain. Gary is also the Founding Chair of Web3 Harbour, an association in Hong Kong serving Web3 builders, investors, users, and leaders.

“I believe Gary, Malcolm, and Joey are perfectly suited to address data privacy problems that plague the internet,” said Vishal Harnal, Managing Partner at 500 Global. “Their mix of consumer startup success and expertise in enterprise technology could help bridge a critical gap between the old world of centralized data and the new world of decentralized identity.”

Growing Need for Alternative Data Infrastructure

Over the past five years, new regulations on data privacy have created a stringent environment for the storage and use of personal information worldwide. Led by Europe’s General Data Protection Regulation (GDPR) and China’s Personal Information Protection Law (PIPL), global regulators and lawmakers are increasingly holding enterprises accountable for the protection of individual privacy. This trend is set to continue with the approval of the Digital Market Act in Europe and upcoming GDPR-inspired laws in the United States and around the world.

US and UK corporations have spent over US$9 billion on GDPR compliance since 2018, with those investing incurring average costs of US$1 million annually. However, over 40% of companies still lack any budget for such compliance while GDPR fines continue to grow, with Meta alone sustaining over US$2.3 billion in penalties.

Data security is also a costly enterprise concern as data breaches accelerate in frequency. Global spending on data security and risk management products is projected to exceed US$188 billion in 2023. However, in a world where 90% of companies rely on multi-cloud environments, data privacy and security issues will grow regardless of investment.

Blockchain technology is increasingly viewed by corporate executives as a solution for user data privacy and security. In a recent survey of US Fortune 500 companies, Coinbase found that 51% of enterprises that use or plan to use blockchain employ the technology for ‘Data Collection and Management’.

“Terminal 3 is a compelling alternative to the non-compliant and unsecured data infrastructure that enterprises rely on today,” said Shawn Cheng, Partner at Consensys Mesh. “Data regulations and security laws are becoming more stringent around the world, and companies are finally realizing that self-sovereign data is a great solution for both users and enterprises. We are excited to be involved in this important project.”

“Scaling Web3 will require the re-invention of core enterprise technologies,” added Gary Liu. “Terminal 3 is building solutions that serve both corporations and individuals, to enable this critical shift in our digital world.”

About Terminal 3

Terminal 3 is a Hong Kong-based Web3 startup building user data infrastructure for a decentralized future. The company’s solutions are an alternative to centralized data storage that deprives users of privacy and saddles enterprises with compliance and security concerns. Terminal 3 leverages decentralized storage and zero-knowledge proofs to empower an equitable Web3 where user data is freely composable while remaining fully private and secure. The company’s founders are successful corporate executives and entrepreneurs, who have built, scaled, and transformed some of the world’s most important companies. Terminal 3 is also backed by world-class investors including 500 Global, CMCC Global, Consensys Mesh, Bixin Ventures, BlackPine, DWeb3, Hard Yaka, and Bored Room Ventures.

For more information about Terminal 3, please visit Terminal 3’s: Official Website | Twitter | LinkedIn

Contact

Joey Liu
Terminal 3
joey@terminal3.io


BioNTech Completes Acquisition of InstaDeep

31.07.2023
NEWS PROVIDED BY INSTADEEP


News


  • Acquisition aims to strengthen BioNTech’s pioneering position in the field of AI-powered drug discovery, design and development
  • InstaDeep to operate as London based subsidiary of BioNTech and will be the centerpiece of its growing portfolio of initiatives around artificial intelligence and machine learning
  • Approximately 290 highly skilled professionals and a global network of research partners in the fields of artificial intelligence, machine learning and data science based in the world’s leading global technology hubs 

MAINZ, Germany, July 31, 2023 – BioNTech SE (Nasdaq: BNTX, “BioNTech” or “the Company”) announced today the completion of the acquisition of InstaDeep Ltd. (“InstaDeep”), a leading global technology company in the field of artificial intelligence (“AI”) and machine learning (“ML”). The acquisition was announced on January 10, 2023 and follows a track record of increasing collaboration between the two companies since 2019 as well as BioNTech’s initial equity investment as part of InstaDeep’s Series B financing round in January 2022.

The acquisition supports BioNTech’s strategy, aiming to build world-leading capabilities in AI-driven drug discovery and development of next-generation immunotherapies and vaccines to address diseases with high unmet medical need. InstaDeep will operate as a UK-based global subsidiary of BioNTech. In addition to BioNTech-focused projects, InstaDeep will continue to provide its services to clients around the world in diverse industries, including in the Technology, Transport & Logistics, Industrial, and Financial Services sectors. The transaction adds approximately 290 highly skilled professionals to BioNTech’s workforce, including teams in AI, ML, bioengineering, data science, and software development.

The total consideration to acquire the remaining InstaDeep shares, excluding the shares already owned by BioNTech, amounts to approximately €500 million in cash, BioNTech shares, and performance-based future milestone payments.

About BioNTech

Biopharmaceutical New Technologies is a next generation immunotherapy company pioneering novel therapies for cancer and other serious diseases. BioNTech exploits a wide array of computational discovery and therapeutic drug platforms for the rapid development of novel biopharmaceuticals. Its broad portfolio of oncology product candidates includes individualized and off-the-shelf mRNA-based therapies, innovative chimeric antigen receptor T cells, bispecific immune checkpoint modulators, targeted cancer antibodies and small molecules. Based on its deep expertise in mRNA vaccine development and in-house manufacturing capabilities, BioNTech and its collaborators are developing multiple mRNA vaccine candidates for a range of infectious diseases alongside its diverse oncology pipeline. BioNTech has established a broad set of relationships with multiple global pharmaceutical collaborators, including Duality Bio, Fosun Pharma, Genentech, a member of the Roche Group, Genevant, Genmab, OncoC4, Pfizer, Regeneron and Sanofi. For more information, please visit www.BioNTech.com.

BioNTech Forward-Looking Statements

This press release contains “forward-looking statements” of BioNTech within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, but may not be limited to, statements concerning: the expected impact of this acquisition on BioNTech’s and InstaDeep’s business; the creation of long-term value for BioNTech and InstaDeep shareholders; potential synergies between BioNTech and InstaDeep and their businesses; the ability of the DeepChain™ protein design platform to engineer new mRNA sequences for protein targets; the ability of AI and ML to quicken and scale up the delivery of next generation of diagnostics and therapeutics; the ability of ML and edge analytics to identify novel predictive biomarkers, inform patient selection, and accelerate the development of therapeutic programs; the ability to utilize AI and ML applications to further optimize manufacturing and supply chain processes, including by using robotics and autonomous decision-making; the eligibility of InstaDeep shareholders to receive additional milestone payments; and InstaDeep’s plans to continue to provide services to clients around the world in diverse industries. Any forward-looking statements in this press release are based on BioNTech’s current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the reaction to the transaction of InstaDeep’s business partners; the reaction of competitors to the transaction; the retention of InstaDeep employees; BioNTech’s plans for InstaDeep; the future growth of InstaDeep’s and BioNTech’s businesses and the possibility that integration following the transaction may be more difficult than expected; the risk that InstaDeep’s collaborations will not continue or will not be successful; risks related to InstaDeep’s ability to protect and maintain InstaDeep’s intellectual property position; risks related to InstaDeep’s capital requirements, use of capital and unexpected expenditures, including InstaDeep’s ability to manage operating expenses or obtain funding to support planned business activities or to explore and establish strategic transactions; risks related to InstaDeep’s ability to attract and retain personnel; and the ability of AI and ML to produce improvements in the drug discovery and development process or deliver efficiencies in drug manufacturing, logistics and supply chain.

For a discussion of these and other risks and uncertainties, see BioNTech’s Quarterly Report on Form 6-K for the quarter ended March 31, 2023, filed with the U.S. Securities and Exchange Commission (“SEC”) on May 8, 2023, which is available on the SEC’s website at www.sec.gov. All information in this press release is as of the date of the release, and BioNTech undertakes no duty to update this information unless required by law.


Capital One Acquires Digital Concierge, Velocity Black

01.06.2023
NEWS PROVIDED BY CAPITAL ONE


News


Capital One invests in concierge for the digital age

McLean, Va., June 1, 2023 — Capital One Financial Corporation (“Capital One”) has acquired Velocity Mobile Limited (“Velocity Black”), a leading digital concierge company that delivers travel, entertainment, shopping and dining offerings to consumers globally.  Velocity Black has built a unique customer experience — its proprietary platform deploys cutting edge technology and human experts to offer inspiration, recommendation and fulfillment in one place, making it an integral part of customers’ lives.

This acquisition brings together two companies focused on finding new ways to solve common consumer pain points. Velocity Black’s innovative technology will bolster Capital One’s delivery of exceptional experiences for consumers.

“Capital One and Velocity Black are committed to innovating on behalf of the customer, and both have raised the bar in their sectors,” said Matt Knise, Senior Vice President, Premium Products and Experiences at Capital One. “Velocity Black’s deep service expertise and unique tech platform complement Capital One’s focus on building experiences that meet the evolving needs of our customer.”

“Our culture of innovation to delight customers has been key to our rapid growth. We are excited to join forces with Capital One, who shares this passion,” said Zia Yusuf, Co-Founder and CEO of Velocity Black. “Capital One is a unique company. Still founder-led, Capital One’s entrepreneurial spirit and customer-first, tech-led culture align beautifully with ours. Its decades of experience disrupting the status quo will be invaluable in further scaling the Velocity Black business. Together we will continue to pioneer best-in-class customer experiences for the digital age.”

The acquisition of Velocity Black builds on Capital One’s history of partnering with industry innovators to create groundbreaking products:

  • Capital One partnered closely with Hopper to build Capital One Travel, a frictionless travel booking experience that delivers smart features not found anywhere else in the credit card industry.
  • Capital One acquired Wikibuy, an Austin, Texas-based company whose automated digital shopping tool used intelligent, real-time technology to help people save time and money when shopping online. The expertise and tech from Wikibuy has been central in powering Capital One Shopping, a tool that matches premium retailers with consumer shoppers to drive meaningful engagements and considerable financial benefits for all.
  • Capital One collaborated with SevenRooms to develop Capital One Dining which unlocks special access to hard-to-get reservations at a collection of highly curated restaurants, along with exclusive culinary experiences for cardholders.

Velocity Black was founded in 2014 by Zia Yusuf and Alex Macdonald, and ranked 32nd in the Financial Times Fastest Growing Companies list. To learn more about Velocity Black, visit https://velocity.black/.

Wachtell, Lipton, Rosen & Katz and Macfarlanes LLP served as counsel to Capital One, and Morgan Stanley & Co. LLC served as financial advisor to Capital One. Latham & Watkins (London) LLP served as counsel to Velocity Black, and Lazard & Co., Limited served as financial advisor to Velocity Black.

Forward-Looking Statements
Certain statements in this communication may constitute forward-looking statements, which involve a number of risks and uncertainties. Forward-looking statements often use words such as “will,” “anticipate,” “target,” “expect,” “think,” “estimate,” “intend,” “plan,” “goal,” “believe,” “forecast,” “outlook” or other words of similar meaning. Any forward-looking statements made by Capital One or on its behalf speak only as of the date they are made or as of the date indicated, and Capital One does not undertake any obligation to update forward-looking statements as a result of new information, future events or otherwise. Capital One cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information due to a number of factors. For additional information on factors that could materially influence forward-looking statements included in this communication, see the risk factors set forth under “Part I—Item 1A. Risk Factors” in the Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC and Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC.


Creating a blueprint for Web3: Hong Kong business leaders unite to accelerate innovation and investment in digital assets and the decentralised internet

29.05.2023
NEWS PROVIDED BY WEB3 HARBOUR


News


HONG KONG, May 29, 2023 – Web3 Harbour, a nonprofit industry association representing Web3 builders, investors, users, and leaders, today revealed its founding board and early member organisations during a panel session at Radical Finance Asia. The association also announced that it will officially launch community and research activities in July, including regular forums for leadership exchanges, startup pitches, and industry education.

Web3 Harbour’s founding chair will be Gary Liu, Co-founder and CEO of Terminal 3, and formerly the CEO of the South China Morning Post. Lawrence Chu, Co-founder and Chairman of VSFG, parent company of Hong Kong’s first SFC-approved virtual asset manager, will serve as the association’s founding vice-chair. Member organisations include AngelHub, Animoca Brands, DLA Piper, Finoverse, FoundersHK, hi.com, HKG DAO, Memeland, PwC Hong Kong, Stratford Finance, Terminal 3, VSFG, Web3 Marketing Association, and WHub. InvestHK has also expressed their support to the association.

“Web3 Harbour is committed to promoting a pro-innovation, pro-collaboration, and truly inclusive environment for Web3 development in Hong Kong,” said Mr Liu. “We look forward to working with stakeholders from across many sectors, including other associations that have been supporting the fintech, blockchain, and digital asset industries.”

Yat Siu, Co-founder and Executive Chairman of Animoca Brands, commented: “Hong Kong is becoming a global leader in virtual asset trading and infrastructure. It is important to have local organisations like Web3 Harbour that unite the industry’s brightest minds. Animoca Brands, headquartered in Hong Kong, is happy to join Web3 Harbour and amplify our collective efforts to advance the local development of Web3 and the open metaverse. Together, we will forge new frontiers and drive the mass adoption of the decentralised internet.”

“We are building a platform for open discussion and cooperation to equip and support Web3 innovators in Hong Kong, and I am truly thrilled to be part of this remarkable journey,” added Karena Belin, Co-founder of WHub and AngelHub, and a founding board member for Web3 Harbour. “Aligned with our unwavering passion for driving impactful change and fostering an open ecosystem, WHub and AngelHub stand as dedicated partners of this association, and we are honoured to serve its mission alongside the esteemed board and exceptional member organisations.”

A coordinated community will help inform policy and regulation that accelerates Web3 innovation

Web3 is growing at an unprecedented pace, and even with macro headwinds, the market is expected to reach billions of users and trillions of dollars in value by 2030. Despite this massive opportunity, obscure terminology, insufficient understanding, opaque policies, inconsistent regulations, and varying degrees of leadership conviction remain barriers to Web3 growth. By convening and engaging a community to address these issues, Web3 Harbour aims to create a ‘model market’ in Hong Kong which is committed to the long-term development of a decentralised internet that maximises the societal and economic benefits of blockchain technologies.

Numerous industry leaders have been convening over the past year to exchange knowledge, opinions, and aspirations about Hong Kong’s Web3 environment. Among them is Lawrence Chu, Web3 Harbour’s founding vice-chair.

“While the benefits of Web3 are clear, its development will require an inclusive and action-oriented community that can promote responsible and sustainable change,” commented Mr Chu. “The entrepreneurial, investment, and policy momentum in Hong Kong make it a prime market for the launch of an association that will become the champion for this industry and its future.”

“The emergence of digital assets has created infinite possibilities for entrepreneurs,” added Minh Do, co-chief operating officer of Animoca Brands and a founding board member for Web3 Harbour. “Establishing a forum now in which startups, investors, business leaders, and regulators can collaborate and address the opportunities and challenges that come with this new technology will benefit everyone.”

For more information, please visit www.web3harbour.org or contact Kathy Brewin (kathy@web3harbour.org).

About Web3 Harbour
Web3 Harbour is a nonprofit association based in Hong Kong dedicated to engaging and representing Web3 builders, investors, users, and leaders to promote a pro-innovation, pro-collaboration, and truly inclusive environment for the development of the decentralised internet and virtual asset economy. The association’s core activities convene stakeholders from across sectors for open knowledge-sharing, upskilling, critical discourse, and networking.


Web3 and virtual asset industry groups, paired with new licensing regime, open up the potential of Hong Kong's digital economy

29.05.2023
NEWS PROVIDED BY WEB3 HARBOUR / HONG KONG LICENSED VIRTUAL ASSET ASSOCIATION


News


  • Hong Kong strengthens its commitment to becoming a global Web3 hub with the launch of new industry groups led by the city’s business elite.
  • The entrepreneurial, investment, and policy momentum in Hong Kong make it a prime market for Web3 and virtual asset associations that champion the industry’s future.
  • For the societal and economic benefits of virtual assets and other blockchain technologies to reach their full potential, the industry requires collaboration, representation, and informed regulation, coordinated by stakeholders from across sectors.

HONG KONG, May 29, 2023 – Two new Hong Kong industry associations, Hong Kong Licensed Virtual Assets Association (HKLVAA) and Web3 Harbour, today announced a shared commitment to the long-term growth and development of the virtual asset economy and decentralized internet in a joint debut at Radical Finance Asia. Industry leaders from Animoca Brands, DLA Piper, and WHub are among the founding board members of Web3 Harbour, with PwC Hong Kong as a knowledge partner, while HKLVAA counts representatives from SFC-licensed corporations with an uplift or approval for virtual asset activities in Hong Kong as founding members. These include HashKey Digital Asset Group Limited, Venture Smart Asia Limited, Victory Securities Company Limited, Axion Global Asset Management Limited, and MaiCapital Limited.

“The strong reception from stakeholders for these new industry groups is a testament to the need for greater collaboration across the sector,” said Lawrence Chu, Co-founder and Chairman of VSFG, parent company of Hong Kong’s first SFC-approved virtual asset manager, who serves on the founding boards of both associations. “While HKLVAA and Web3 Harbour serve different membership bases and will adopt unique approaches to address members’ needs, both prioritise knowledge sharing and regulatory clarity in their efforts to accelerate the development and adoption of Web3 technologies in Hong Kong.”

“Our shared principles and desire for cross-industry coordination will help establish Hong Kong as a Web3 innovation capital and virtual assets hub for the world,” said Web3 Harbour’s founding chair Gary Liu, Co-founder and CEO of Terminal 3 and formerly the CEO of the South China Morning Post. “We look forward to working with stakeholders from across many sectors, including other associations that have been supporting the fintech, blockchain, and digital asset industries.”

Both associations continue to accept membership applications and will launch community activities, research efforts, and educational programming in July.

In response to the new regulatory regime for virtual asset service platforms taking effect in Hong Kong on 1 June, Mr Chu commented, “HKLVAA represents the interests of virtual asset entities licensed, or seeking licensing, in Hong Kong, and we will continue to work with the city’s government and regulators to enhance and showcase Hong Kong’s comparative advantages as a global fintech hub.”

In reference to the industry’s future, Mr Liu noted, “Web3 is growing at an unprecedented pace, and even with macro headwinds, the market is expected to reach billions of users and trillions of dollars in value by 2030. By convening and engaging a community to address the opportunities and challenges in our industry, Web3 Harbour aims to create a ‘model market’ in Hong Kong which is committed to the long-term development of a decentralized internet that maximizes the societal and economic benefits of blockchain technologies.”

For more information about HKLVAA, please contact Natalie Ko (natalie.ko@vsfg.com).

For more information about Web3 Harbour, please visit www.web3harbour.org or contact Kathy Brewin (kathy@web3harbour.org).

About Web3 Harbour
Web3 Harbour is a nonprofit association based in Hong Kong dedicated to engaging and representing Web3 builders, investors, users, and leaders to promote a pro-innovation, pro-collaboration, and truly inclusive environment for the development of the decentralised internet and virtual asset economy. The association’s core activities convene stakeholders from across sectors for open knowledge-sharing, upskilling, critical discourse, and networking.

About Hong Kong Licensed Virtual Assets Association
Hong Kong Licensed Virtual Asset Association (HKLVAA) is a nonprofit association that serves as an active conduit between industry practitioners, regulators, and new participants in the industry. It aims to be a forum for collaboration and coordination between leaders and key stakeholders in the virtual asset industry in Hong Kong and around the world who are seeking to establish a presence in the city. HKLVAA hopes that by working together to build a stronger and appropriate regulatory framework, it can help position Hong Kong as a leading international virtual asset hub.


Virtual Asset Industry Leaders Launch Association in Hong Kong to Provide a Forum for Collaboration, whilst Spearheading the Best in Both Commercial Innovation and Sound Protection

29.05.2023
NEWS PROVIDED BY HONG KONG LICENSED VIRTUAL ASSET ASSOCIATION


News


29 May 2023 (Hong Kong) – To support Hong Kong’s position at the forefront of the global virtual asset (“VA”) space, a group of VA industry leaders in the city and around the world have come together to form a non-profit association that serves as an active conduit between industry practitioners, regulators, and participants in the industry.  The association, named Hong Kong Licensed Virtual Asset Association (“HKLVAA” or the “Association”), aims to be a forum for collaboration and coordination between leaders and key stakeholders in the VA industry in Hong Kong and around the world who are seeking to establish a presence in the city, and to help facilitate the development of Hong Kong as a leading international VA hub.

HKLVAA was co-initiated and chaired by Mr. Lawrence Chu, Chairman of Venture Smart Financial Holdings Limited (VSFG). Its subsidiary, Venture Smart Asia Limited, is the first SFC-approved virtual asset manager. Mr. Chu remarked: “We are thrilled to establish this association in Hong Kong to promote a stronger dialogue between those currently in the VA industry, traditional institutional firms, clients and supervisory bodies. We have always seen opportunities for VA development, but a lack of clarity has often prevented market participants from entering this space.  By leveraging our collective expertise, resources and influence, we can help build a more robust and sustainable ecosystem for VA in Hong Kong that will benefit clients, investors and market participants around the world.”

Among the founding members of the Association are SFC-licensed corporations with an uplift or approval for VA activities in Hong Kong, including but not limited to Axion Global Asset Management Limited (AGAM), HashKey Digital Asset Group Limited, MaiCapital Limited, Venture Smart Asia Limited and Victory Securities Company Limited. Other core members include those who are applying for SFC licences for VA-related activities, such as Hong Kong Virtual Asset Exchange Limited (HKVAX), as well as other global industry players, for instance Animoca Brands, a global leader in metaverse and blockchain games, and other companies such as BEOSIN Technology Limited, BitGo Inc. and GSR International Inc. have also joined the Association.

“We’re excited to support HKLVAA to help develop industry standards and guidelines to promote compliance with regulatory requirements and best practices, whilst continuing to foster innovation resulting from new technologies and business models,” said Mr. Michel Lee, Executive President of HashKey Digital Asset Group Limited, a member of the corporate group behind HashKey Pro, one of the first virtual asset exchanges in Hong Kong to obtain a licence from the SFC.

Mr. Kennix Chan, Executive Director of Victory Securities Company Limited, also expressed enthusiasm to be one of the founding members of HKLVAA, stating: “Our team is looking forward to working alongside all industry pioneers to build a sustainable and inclusive VA ecosystem that benefits all stakeholders.” Victory Securities Company Limited is the first licensed corporation to be permitted to provide the full spectrum of virtual asset dealing and advisory services in Hong Kong and which has recently obtained approval of the SFC to manage investment funds comprising up to 100% virtual assets.

AGAM, a specialised digital asset manager, welcomed the establishment of the Association. “We are thrilled to be part of this important industry initiative to propel the VA industry forward by bringing together key stakeholders, facilitating collaboration, and promoting best practices.” said Mr. Gavin Ho, Strategy Director of AGAM.

Henry Yu & Associates (HYA) will serve as the Secretary General of the Association. Mr. Henry Yu, founding partner of HYA and one of the first blockchain lawyers in Hong Kong, is excited about the establishment of the Association and is happy to take on a role in the Policy Committee, stating: “Regulations and standards are always important. Through HKLVAA, we are happy to help coordinate and formulate VA-related directives, and, at the same time, provide public education on the latest guidelines and trends in the industry.”

The establishment of HKLVAA reflects the growing importance of VA in Hong Kong and the need for a more coordinated approach to regulation in this emerging industry. To play an active role in the industry, HKLAVAA will provide input on government, legislative and regulatory policy consultations and proposals in order to help develop norms and standards for the VA industry, while holding regular meetings and events to facilitate dialogue and information sharing among its members. The Association hopes that by working together to build a stronger and appropriate regulatory framework, it can help position Hong Kong as a leading international VA hub, and cement Hong Kong’s position in building the future of finance.

Member application is now open. More details and the official launch date of the Association will be announced in Q3, 2023.

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For more information, please contact Natalie Ko (natalie.ko@vsfg.com).

 

About HKLVAA

Hong Kong Licensed Virtual Asset Association (“HKLVAA”) is a non-profit association that serves as an active conduit between industry practitioners, regulators, and new participants in the industry.  It aims to be a forum for collaboration and coordination between leaders and key stakeholders in virtual asset industry in Hong Kong and around the world who are seeking to establish a presence in the city.   HKLVAA hopes that by working together to build a stronger and appropriate regulatory framework, it can help position Hong Kong as a leading international virtual asset hub.


Dr. George Lam Officially Joins VSFG as Honorary Chairman

16.05.2023
NEWS PROVIDED BY VSFG


News


Leading VSFG to integrate traditional wealth management with the future of finance

Promoting and facilitating the development of Hong Kong as an International Virtual Assets Centre and Green Finance Hub

Dr. George Lam, BBS, JP

16 May 2023 (Hong Kong) – To drive the strategic development of innovative financial services, Venture Smart Financial Holdings Limited (hereinafter referred to as “VSFG” or “the Group”) officially announced the appointment of Dr. George Lam, BBS, JP (“Dr. Lam”) as Honorary Chairman today.  Dr. Lam will lead VSFG to integrate traditional wealth management with the future of finance, and fully support and collaborate with the Hong Kong Special Administrative Region (HKSAR) Government in promoting and facilitating Hong Kong family office businesses and developing the virtual assets sector. This is not only to support Hong Kong’s development into an International Virtual Assets Centre and Green Finance Hub, but also more importantly, to shore up the leading position of Hong Kong as an international financial centre.

Dr. Lam has been championing digital transformation, financial technologies, innovation and entrepreneurship, sustainable development, green finance and environmental, social and governance (ESG) investments over the years.  Dr. Lam had served as Chairman of Hong Kong Cyberport, a part-time member of the Central Policy Unit of the HKSAR Government, a member of the Committee on Innovation, Technology and Re-industrialisation, a member of the Sir Murray MacLehose Trust Fund Investment Advisory Committee, and a non-official member of the Financial Services Development Council New Business Committee.  Currently, Dr. Lam is a member of the Governance Committee of the Hong Kong Growth Portfolio of the HKSAR Government, a non-official member of the HKSAR Government Development Bureau Common Spatial Data Advisory Committee, Chair of the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) Sustainable Business Network (ESBN), Chair of the ESBN Task force on Sustainable and Inclusive Finance, Vice Chairman of the Pacific Basin Economic Council (PBEC), a member of the Belt and Road and Greater Bay Area Committee of the Hong Kong Trade Development Council, and Chairman of the Technology and Innovation Committee of the Belt and Road General Chamber of Commerce.

Dr. Lam said, “I have accepted the invitation from Mr. Lawrence Chu, Chairman of VSFG, because we share the same vision for the future development of Hong Kong’s financial industry. We hope to create synergies to attract more family offices from overseas and the Mainland to set up in Hong Kong while also quickly driving the growth and development of virtual assets and green finance in Hong Kong, in order to help enhance the competitive edge of Hong Kong as an international financial centre.”  VSFG is the first virtual asset manager in Hong Kong licensed by the Hong Kong Securities and Futures Commission (“SFC”).  Far back in 2018, VSFG already initiated a discussion with the SFC on full compliance between traditional and virtual assets to develop innovative financial services.  This is in line with Dr. Lam’s view on enhancing Hong Kong’s unique competitive advantages as an international financial centre and promoting and facilitating financial technologies.

Mr. Lawrence Chu, Chairman of VSFG, also expressed his sincere appreciation to Dr. Lam for joining and supporting VSFG, “As a farsighted visionary, Dr. Lam has always been driving the integration of the new and traditional economies without neglecting the importance of regulations and corporate governance. As we strive to integrate traditional wealth management with the future of finance, we must achieve full compliance first while effectively linking traditional and virtual assets together.  It is of utmost importance to put in place sound internal controls. As a solicitor of the High Court of HKSAR (formerly a member of Hong Kong Bar), a Fellow of the Hong Kong Institute of Arbitrators, the Hong Kong Institute of Directors and CMA Australia, and an Honorary Fellow of CPA Australia, Dr. Lam not only provides us with valuable constructive suggestions on laws and regulations and corporate governance, but also delivers strategic advice on the Group’s sustainable development policies, lifting our service offerings to the next level in a comprehensive manner.”

With his extensive industry experience in corporate governance, strategy consulting, policy advocacy, international cooperation, investment banking, direct investment and asset management, Dr. Lam will provide leadership for VSFG to fully leverage its strengths in participating in the development of Hong Kong as an International Virtual Assets Centre and Green Finance Hub, integrating traditional wealth management with the future of finance, creating new milestones for Hong Kong’s financial development going forwards.

About VSFG

Venture Smart Financial Holdings Limited (VSFG) is a global financial services platform headquartered in Hong Kong.

VSFG strives to integrate traditional wealth management with the future of finance.  In 2020, Venture Smart Asia Limited, subsidiary of VSFG, became the first virtual asset manager in Hong Kong approved by HKSFC to manage portfolios that may invest up to 100% of assets in crypto assets.  VSFG is dedicated to the research and development of products and services that can integrate traditional and virtual assets under a compliant regulatory framework, helping individuals and institutions to allocate their assets in an orderly manner in both traditional and virtual worlds. In addition, VSFG and its affiliated companies are committed to proactively developing and delivering relevant services to promote the development of both family office businesses and virtual assets, shoring up Hong Kong’s position as a global financial centre .  For further information on VSFG, please visit www.vsfg.com.

Media Contact

VSFG marketing@vsfg.com

Strategic Financial Relations Limited
Cindy Lung / Brigid Lee / Cynthia Ng
sprg_vsfg@sprg.com.hk


AMF1 announces new lifestyle partnership with Velocity Black

03.03.2023
NEWS PROVIDED BY VELOCITY BLACK


News


Aston Martin Aramco Cognizant Formula One™ Team (AMF1) is delighted to announce Velocity Black as its new Official Luxury Lifestyle Partner.

Velocity Black branding will feature on the nosecone of the AMR23 car from this weekend’s season-opening Bahrain Grand Prix. (PRNewsfoto/Velocity Black)

LONDONMarch 3, 2023 /PRNewswire/ — Founded in 2014, Velocity Black is a digital members’ club and luxury concierge that harnesses cutting-edge technology and world-class experts to offer its members effortless access to unique tickets, events and lifestyle experiences.

In partnership with AMF1, Velocity Black members will benefit from access to the squad and its drivers, as well as VIP tickets to races and special events.

Velocity Black and AMF1 will together deliver Velocity Black members with the ultimate opportunities to live and experience the world’s greatest motorsport series.

Velocity Black branding will feature on the nosecone of the AMR23 car from this weekend’s season-opening Bahrain Grand Prix.

Jefferson Slack, Managing Director Commercial & Marketing, AMF1, said:
“At AMF1, we are always looking for unique ways to harness the prestige and desirability of our brand, and we are delighted to have partnered with Velocity Black to deliver a range of new and exciting ways of doing this. Through our partnership, Velocity Black members will receive unprecedented access at races, meet our drivers and enjoy our hospitality in the paddock. We are looking forward to meeting many Velocity Black members across what is set to be an intense and exciting championship season.”

Zia Yusuf, Velocity Black CEO, said:
“At Velocity Black we believe life is short, and that every second matters. Our members are high-performance people, and we help them live extraordinary lives. This ethos made AMF1 a kindred spirit and natural partner. Our review of last year made the tripling of member demand for F1 experiences impossible to ignore. We’re proud to be the Luxury Lifestyle Partner of the Aston Martin Aramco Cognizant Formula One™ Team. It means we can offer our members effortless access to the most extraordinary Formula One experiences in the world. In doing so, we will help forge memories between loved ones that will last a lifetime.”

Discover more about Velocity Black.

Photo – https://mma.prnewswire.com/media/2015525/Velocity_Black_AMR23.jpg
Logo – https://mma.prnewswire.com/media/2015524/Velocity_Black_Logo.jpg

Media Contact: media@velocity.black