HashKey CEO Predicts Blockchain's Role in Fourth Industrial Revolution

HashKey Group Chairman and CEO Xiao Feng delivered a keynote address at the 2025 Hong Kong Web3 Festival, emphasizing the transformative impact of blockchain technology on global financial infrastructure. Speaking to an early morning crowd at the Hong Kong Convention and Exhibition Center, Xiao described blockchain as a new generation of financial infrastructure that fundamentally changes how financial transactions are recorded, settled, and governed.

Xiao highlighted the historical parallels between technological and financial evolution, noting that banking credit supported the British Industrial Revolution, stock markets enabled the electrical revolution in America, and venture capital fueled Silicon Valley’s information revolution. He predicted that cryptocurrency finance will become the core financial innovation supporting the fourth industrial revolution.

Xiao also emphasized key differences between traditional and blockchain-based finance, including the shift from bank accounts to digital wallets and the move from batch settlement systems to instantaneous transaction completion. He noted the significance of the recent decision by the U.S. Securities and Exchange Commission not to classify dollar-backed stablecoins as securities, suggesting this allows more institutions to participate in monetary creation processes.

Xiao pointed to major stock exchanges moving toward 23-hour trading cycles, compared to blockchain markets that operate continuously. He predicted that traditional exchanges will eventually need to adapt to compete with cryptocurrency markets that have operated 24/7 since day one.

The event featured several high-profile regulators, including the Financial Secretary of the Hong Kong Government, the Under Secretary for Financial Services and the Treasury, the Executive Director of Investment Products at the Securities and Futures Commission, and the Chief Fintech Officer of the Hong Kong Monetary Authority. While mainland China maintains strict prohibitions on cryptocurrencies, analysts view Hong Kong’s supportive stance as a strategic testing ground for the technology’s potential. This approach effectively creates a regulatory breathing space where blockchain innovations can develop under controlled conditions, potentially informing future policies across the broader Chinese economy.

The Web3 Festival continues through Wednesday with industry panels, demonstrations, and networking events, bringing together blockchain developers, investors, and technology enthusiasts from around the world.