Digital asset financial services group HashKey Digital Asset Group, together with its partners, public cloud IaaS service provider Alibaba Internet and cloud infrastructure protocol PlatON will co-host HAPathon 2023, a global Web3 startup competition that will take place from March to April 2023 in four major cities in Asia: Singapore, Bangkok, Tokyo and Hong Kong, where the final will take place.

The competition is expected to draw more than 1,000 entrants from around the world, most of whom are developers and founders of startups within the Web3 community and ecosystem.

Each location will host a two-day offline competition, which will require contestants to present the projects they developed to a professional judging committee. The competition aims to provide global Web3 developers with a platform to demonstrate their innovative acumen and the ability to transform their creativity and business sense into a practical application in one of three themes: Financial Services Infrastructure, Technical Infrastructure and Tools, and innovative Web3 applications. The total value of the prize will be a minimum of $400,000.

This competition is one of the initiatives under an MOU signed in November 2022 between the three parties. The partnership aims to explore potential collaborations on various projects such as cloud computing and multi-chain Web3 infrastructure to build various Web3 applications and protocols in games, social media, and the metaverse, among others.

Web3 promises to rectify many of the problems that have arisen from the corporatization of the Internet over the past two decades. However, 2022 may be the worst year on record for Web3 security.

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Bill Gates expressed his pessimistic attitude towards new technology. Responding to a question from a Reddit user about whether today’s technology has the potential that the Internet had in the year 2000, Gates said: “AI is the biggest. I don’t think Web3 was that big or the metaverse stuff alone was revolutionary, but the AI ​​is pretty revolutionary.” The billionaire philanthropist has also been clear on his distrust of cryptocurrencies and NFTs, saying they are “100% based on the biggest fool theory,” and that he prefers asset classes like farms that have real results.