Hong Kong, Hong Kong S.A.R. Sep 25, 2023 (Issuewire.com) – Blockchain Solutions, led by visionary CEO Liang Yongxi, has emerged as a trailblazing force in the APAC region. Renowned for pioneering one of the earliest cryptocurrency kiosks, the company has earned industry recognition, including the prestigious Tech of the Year Award 2023 from the Business GO Virtual Expo held in Hong Kong. Their steadfast belief in the impending widespread adoption of blockchain and cryptocurrencies as the go-to payment method drives their mission.

Hong Kong’s financial technology sector is increasingly emphasizing the advancement of blockchain technology. In an exclusive interview with this publication, Blockchain Research CEO Liang Yongxi highlighted the potential applications of blockchain in areas such as the Faster Payment System (FPS) and the assessment of credit ratings for retail banking customers. However, he also noted that a shortage of specialized talent in the field of blockchain research remains a significant obstacle to scientific development within Hong Kong.

Blockchain leverages distributed ledger technology (DLT) to replace centralized processing systems. Think of it as a digital ledger accessible to all participants. Following each transaction, the data undergoes verification and is permanently recorded in a block, rendering it immutable and ensuring the accuracy of the information.

With a commitment to delivering a superior customer experience, Blockchain Solutions seamlessly merges cutting-edge hardware with tailor-made user-friendly software. Liang Yongxi extends his gratitude to the Hong Kong Trade Development Council for facilitating the enlightening session titled ‘Bling Up Your Business with Blockchain & NFT’ during the Hong Kong International Jewellery Show. This session featured an insightful panel discussion with industry luminaries Henry Yeung, Vice Chairman of the Hong Kong Retail Technology Industry Association, and Kevin K T Lee, Founder of Redspots Creative (Hong Kong) Company Limited.

In the ever-evolving landscape of Web3, Blockchain technology is at the forefront, offering immersive shopping experiences and heightened traceability for jewellery products. Their interaction with numerous #Web3 project leaders and participants underscores the monumental potential of this technology.

At the core of Web3 lies the use of blockchain-based e-wallets, comprising anonymous numerical identifiers that safeguard personal information. These versatile e-wallets facilitate cryptocurrency and NFT transactions across diverse blockchain platforms, obviating the need for multiple bank accounts and repetitive KYC procedures, as defined by Liang Yongxi. The result is a consolidated transaction history, eliminating the hassle of managing disparate bank statements.

Web3 serves as the foundation for the emerging Metaverse, a concept introduced in the 1992 sci-fi novel “Snow Crash.” This virtual realm envisions a future where individuals possess avatars, as espoused by Meta, formerly Facebook. In this digital universe, people can create, explore, work, entertain, study, and shop alongside friends, underpinned by the Web3 framework. Blockchain technology forms the bedrock, complemented by AR/VR and artificial intelligence, serving as essential tools in constructing the Metaverse.

While the Metaverse remains an evolving concept with ongoing exploration across industries, notable developments have already surfaced. Microsoft, for instance, focuses on work-related services with products like Mesh for Microsoft Teams, enabling remote work and virtual meetings. Meta, on the other hand, has hosted virtual concerts and established virtual gyms within the Metaverse. Nevertheless, gaming remains the most prevalent application, given the inherent similarities between the Metaverse and existing gaming experiences.

Despite the immense potential of blockchain, Web3, and the Metaverse, several challenges persist, including technical complexity, user interface issues, and blockchain network throughput constraints. However, with the cryptocurrency bear market prompting companies to address these concerns, the dawn of the next Internet era is on the horizon.

Furthermore, Blockchain Limited, by Liang Yongxi offers a means to combat fraud and issues like ticket scalping. Through tokenization and smart contracts, ticket sales can be transparently regulated, preventing scalping by restricting the number of tickets per wallet and enforcing price controls during resale. Several sports events, including UEFA, have already experimented with blockchain-based ticketing to streamline verification and enhance transparency in audience data, facilitating more effective marketing strategies for organizers.

Liang Yongxi hails from a humble family background and achieved his bachelor’s degree at The University of Hong Kong. Additionally, he pursued postgraduate studies at the University of Warwick, where he was recognized with a Merit certificate. His perspective is rooted in the belief that while Blockchain technology might seem inaccessible to many, practical systems leveraging this technology are already functioning discreetly in our everyday lives.