Topics
former
AI
Amazon
Image Credits:d3sign / Getty Images
Apps
Biotech & Health
Climate
Image Credits:d3sign / Getty Images
Cloud Computing
Department of Commerce
Crypto
go-ahead
EVs
Fintech
fundraise
Gadgets
punt
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
Security
Social
quad
startup
TikTok
Transportation
Venture
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
Podcasts
TV
Partner Content
TechCrunch Brand Studio
Crunchboard
get hold of Us
Ever since Hong Konglegalized cryptocurrency trading last June , blockchain projects from the West have been compensate more attention to the Asiatic fiscal hub . Aptos , thea16z- and Tiger Global - backed blockchain networkdeveloped by a group of former Meta employees , is one of them .
Started by some of the original Godhead of Meta’sabandoned crypto payment labor Diem , Aptos is set tohosta DeFi event in Hong Kong this April . decentralised finance , or DeFi , which examine to exchange traditional banking intermediary with decentralized technology , has been a big use face in the blockchain space so far .
“ I was in Hong Kong twice last year in a twain of three month , ” say Mo Shaikh , carbon monoxide gas - father and CEO of Aptos , which is a bed 1 blockchain , meaning it does n’t trust on survive decentralized mesh like Ethereum or Solana .
“ And what I point out was there is an incredible amount of resurgence when it issue forth to the appetite to build , to disrupt , and a monolithic centering on web3 , whether it was meeting folks like Alibaba or Tencent , to even meeting with other financial institutions like HSBC and incubators out there . So when we see that level of natural action , that level of interest in Aptos , we apparently have to check that we ca n’t ignore it , ” he added .
Indeed , an X / TwitterSpaceAptos host in Mandarin Chinese this week attract over 45,000 listeners .
While mainland China bans all signifier of cryptocurrency trading , the politics go out the option overt in Hong Kong , a move seen by many industriousness watchers as asandboxfor Beijing to toy with web3 without potentially incurring financial volatility for the eternal rest of the land .
Aptos already works with Alibaba to reach web3 developers in Asia . In November , the two partners announced they be after to co - legion hackathons that used Move , the open source programming language developed by Meta .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
On the Aptos Sir Ernst Boris Chain , Move is used to save fresh contract , which are lines of code that automatically carry through predetermined term of understanding . Solidity is the primary speech used to program smart contract on Ethereum , the big blockchain by developer natural process .
Aptos has its eye on all emerging market . One of its most ambitious endeavors is the JamboPhone , a joint endeavor between the blockchain andJambo , a Congo - establish startup point to be the “ web3 super app ” of Africa . Priced at $ 99 , the earphone comes preinstalled with the Aptos - compatible billfold Petra and is selling in Africa , Southeast Asia , and Latin America .
Layer 1 blockchainSolana ’s Saga phoneis clear target a different demographic with its $ 1,000 price tag end .
“ The cool thing about [ JamboPhone ] is , conceive of you had fresh figure of digital money , a stablecoin , the eHKD or even the Singaporean buck , that money can now be uncommitted immediately on these machine , and expand into creating real economic value for people that often are left out of the financial system , ” Shaikh suggested .
When asked when users in Hong Kong will get admittance to Aptos - based DeFi services , the founder said he can not speculate on regularisation .
“ I do think Hong Kong regulators are moving things in the right counsel and forward and providing clarity for entrepreneurs to build . And I think that is a very sound polarity for us to uphold to lean into , ” he lend .
Hong Kong is chart its own web3 path despite China ’s anti - crypto stance
