PolyU Faculty of Business (FB) has joined forces with OSL, a digital asset platform backed by fintech and digital asset company BC Technology Group, to establish the ‘OSL–PolyU Faculty of Business Research Centre for Web 3.0 AI’. The Research Centre, which was unveiled at the PolyU-hosted ‘Navigating the Web3 Frontier’ event in October 2023, brings together expertise from the digital asset industry and academia to develop Web 3.0 technologies and artificial intelligence (Web 3.0 AI), with a focus on the tokenisation of real-world assets through security token offerings (STOs).
Demystifying the terminology of Web 3.0
The digital landscape is evolving at a pace seldom seen before, driven by the disruptive force of Web 3.0 technology. As it evolves, the specialised terminology of this field can mystify the uninitiated. As one goal of the Research Centre is to help the community adopt these new Web 3.0 technologies, it is important to first demystify them and understand what they are. Web 3.0. Artificial intelligence (AI). Digital assets. Tokenisation. Blockchain. What are these? And why they are important for the future of business and society? Here is an overview:
Web 3.0 is the next generation of the internet, where users can interact with each other and with data in a more decentralised, secure, and transparent way. This means that users have more control over their own data and identity, and can access more diverse and trustworthy information and services. AI is the technology that enables machines to perform tasks that normally require human intelligence, such as learning, reasoning, and decision making, thereby helping solve complex problems and improving efficiency. Digital assets are any assets that exist in a digital form, such as cryptocurrencies, digital art, or digital certificates. Tokenisation is the process of converting real-world assets, such as stocks, bonds, or real estate, into digital tokens that can be traded on a blockchain platform—a technology that keeps track of who owns what and when via a secure, transparent network of transactions. Tokenisation can offer many benefits for businesses and investors, such as improved asset liquidity, lower transaction costs, and broader market participation.
Taken together, these technologies enable new forms of value creation, exchange, and innovation that are important for the future of business and society. By establishing the OSL–PolyU Faculty of Business Research Centre for Web 3.0 AI, FB and OSL intend to pave the way for a future where blockchain is a cornerstone of innovation.
The future of digital assets: Web 3.0 AI and tokenisation
The primary focus of the Research Centre is the development of Web 3.0 technologies and AI (Web 3.0 AI), with an emphasis on the tokenisation of real-world assets through STOs. STOs use blockchain technology to offer a cheaper and faster way for companies to raise money than traditional IPOs. This is a transformative trend that offers improved asset liquidity, improved investment accessibility, and improved security.
As Hong Kong's first SFC-licensed digital asset platform, OSL Digital Securities is at the cutting edge of research and innovation in this area. Its commitment to excellence and industry advancement makes it an ideal collaboration partner to make digital assets more accessible and useful in everyday life, with the potential to transform investment and capital markets.
Opening the doors to a new era of transparency
As well as serving as a nexus of innovation, another objective of the Research Centre is to dispel the myths surrounding blockchain and digital assets—for example, that they are reserved for the privileged few—and showcase the benefits of transparency, accessibility, and security that they offer. As rapid developments in technology often baffle the uninitiated, they are often misunderstood. The inner workings of blockchain technology may seem daunting to an outsider. However, at its core, the purpose of blockchain technology is simple: it exists to make digital assets more accessible through increased security and transparency. Increased security is achieved through the decentralised nature of blockchain. This reduces risks, which in turn builds trust that traditional systems lack. Transparency is achieved by making transactions visible to all: each transaction leaves an indelible mark, making it traceable, minimising errors, and enhancing accountability.
The reality is that blockchain, once understood, opens doors to a new era of transparency. Its potential lies in its ability to reshape industries, empower individuals, and ultimately usher in a new era of digital possibilities. The Research Centre will position itself to explore the frontier of what blockchain technology can achieve.
Empowering through education and innovation
A cornerstone of the collaboration between PolyU and OSL is the synergy it creates between education and innovation. The partnership aspires to empower those who feel tentative about embracing digital assets by organising joint initiatives, workshops, and outreach programmes to improve understanding of Web 3.0 AI and tokenisation, thereby empowering more people to use these new digital technologies.
Building together for mass adoption
The Research Centre is more than a space for academic discourse; it is a catalyst for innovation and change, pointing towards a future where the benefits of Web 3.0 AI and tokenisation are accessible to all, and where the digital landscape is owned and shaped by the collective vision and aspirations of the community. By demystifying, innovating, and empowering, the Research Centre is poised to deliver meaningful change to the community.
As the OSL–PolyU collaboration unfolds, it will send a subtle yet powerful message: anticipate, engage, and be part of the digital transformation. By building products together, expanding the ecosystem, and actively addressing the challenge of mass adoption, FB and OSL are setting the stage for a new digital revolution.
