Huobi University, a leading blockchain educational institute, hosted Global Blockchain Empowerment Summit in Silicon Valley, at the Plug and Play Tech Center in Sunnyvale, California on November 19, 2019. There were over 200 people from academic institutions, blockchain companies, and major technology firms in attendance.

Dr. Yu Jianing, the president of Huobi University, presented the keynote speech Blockchain Education: Bootstrapping Blockchain Innovations and Adaptations. According to Dr.Yu, “Blockchain is a trio of innovations: technological, financial, and industrial. With decentralized and cryptographic technologies, blockchain will transform business models and revolutionize business collaboration.” However, Dr. Yu believes that even the best technologies and business models cannot survive without appropriate regulations and business ethics. Therefore, he predicted that the main themes in the Blockchain 3.0 era would be compliance and regulatory alignment.

Yuan Yuming, CEO of Huobi Research, also delivered a keynote speech, which was titled Huobi and Silicon Valley New Technology: Adaptation of Blockchain to Empower the Real Economy. Yuan explained how blockchain projects try to empower real economies, such as the Coco Credit System, Shell Gas Station Group-buy System and IP service platform IPTM, among others. According to Yuan, “Huobi has a vision, mission, advantages and services all geared to supporting a global blockchain ecosystem.”

Comparing proof-of-stake to proof-of-work up for discussion in the summit’s technology breakthrough panel. Luca Cosentino, head of product and growth from Oasis Labs, suggested that proof-of-stake can be used to address the computing requirements for mining. However, Liu Fei, the founder of Kimii Wallet, stated that the proof of equity in the blockchain is not yet ready for wide adoption, and proof-of-work will still dominate the mining sector in the feasible future, probably for decades. Eli Reinhardt, head of business development department of Findora, countered by adding that proof-of-work is secure expensive due to its computing power requirements, but proof-of-stake has not yet to be proven to be a good alternative. Chen Xiaohu, of Moac blockchain project, and Gao Haiqiang, co-founder of Lambda COO, also participated in the panel

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The summit also saw a blockchain business panel and blockchain application panel. In the investment panel Scott Robinson, founder of the financial technology department of Plug and Play; Zhang Linrong, founder of the To Da Moon Crypto Lounge; Zhang Yiyun, the founder of the Geekbeans Capital; Zhang Xun, the founder of Linkdada; and Dmitriy Berenzon of Zenith Ventures were other speakers in the panel that discussed blockchain business strategies in the US and China. In the blockchain application panel, Stanford AFT Lab senior researcher Jonathan Padilla and Vite Labs product and growth department head Francesco Biscardi joined other global speakers in discussing the application trends and challenges of blockchain.