Xiao Feng: DePIN has natural advantages in the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta region

Xiao Feng, Chairman of Wanxiang Blockchain and Chairman and CEO of HashKey Group, said in his keynote speech at the "2024 Hong Kong Web3 Carnival" that blockchain is inherently built on DePIN, and Bitcoin hardware mining is a primary version of DePIN. The relationship between DePIN and blockchain is divided into three stages. The first stage is Bitcoin and PoW mining. The second stage is the trusted data base proposed four or five years ago, which aims to connect IoT devices between many organizations to make these data credible; the third stage is after the emergence of AI big models in 2024. In order to adapt to the AI ​​productivity revolution, it is necessary to use DePIN and hardware for distributed storage, distributed computing, and distributed data collection. At the same time, Xiao Feng pointed out that he believes that there will be a fourth and fifth stage in the future, and the future value will be greater, deeper, and wider. Xiao Feng said: "Last year, we launched the Green Bitcoin Alliance to carbon neutralize the carbon emissions generated by Bitcoin mining power consumption. At present, 12% of the blocks have achieved carbon neutrality, and it will take another 10 years to achieve carbon neutrality for all blocks." Xiao Feng also pointed out that DePIN's natural advantages lie in the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta region, which are the global manufacturing bases for smart devices. Because all Bitcoin mining machines are manufactured in the Greater Bay Area, and the first generation of DePIN is manufactured and distributed in the Greater Bay Area of ​​China, it can be predicted that the manufacturing and distribution of DePIN equipment in the future should also be in the Greater Bay Area.