On August 3rd, CertiK, a leading global security organization, successfully concluded its offline salon at Hong Kong Cyberport. The theme of this salon was "Web 3.0 Security: Innovation, Challenges, and Key Points." The event not only brought together nearly a hundred Web 3.0 practitioners from the Greater Bay Area but also saw the presence of Professor Ronghui Gu, Co-founder of CertiK, Member of the International Technology Advisory Committee of the Monetary Authority of Singapore, and member of the Hong Kong Web 3.0 Development Special Task Force, as well as Professor Kang Li, Chief Security Officer of CertiK. They jointly discussed the development trends and breakthroughs in the Web 3.0 security track with many builders.
The reason why this salon event has attracted high attention and active participation from the industry is twofold. On the one hand, CertiK and Professor Ronghui Gu have extensive influence in the industry. On the other hand, since the end of last year, a series of heavyweight policies have been successively introduced, and the profound transformation and revitalization of the Web 3.0 industry have become an inevitable trend. However, the industry is also plagued by the phenomenon of "extremes," with one side experiencing waves of enthusiasm for Web 3.0 global hot conferences in 2023, such as Token 2049 in Singapore, Crypto Expo in Dubai, Mainnet in New York, and KBW in Seoul. On the other side, there have been frequent on-chain security incidents represented by Curve Finance suffering a loss of $52 million and increasing regulatory pressure represented by the SEC's accusations against Binance and Coinbase, which have been eroding people's confidence in Web 3.0. In this situation, accurate analysis and clear positioning of industry trends are strategically significant and valuable more than ever.
The salon organized by CertiK is precisely addressing this issue and providing a positive response. Professor Gu firmly stated that CertiK is willing to be the beacon of light in the dark jungle and protect the industry.
Here is a recap of the highlights of this event:
Q: Professor Gu, what prompted CertiK and Cyberport to hold this salon in Hong Kong?
Gu Ronghui: This offline salon is part of the Web 3.0 Collaboration Dialogue@Cyberport series of activities. We chose the theme of "Web 3.0 Security: Innovation, Challenges, and Key Points" and shared different perspectives on intelligent analysis and multiparty computation (MPC) technology. We hope that CertiK, as a leader in the security field, can help ordinary users or developers improve their security awareness and further enhance the security standards of the Web 3.0 industry.
Another significant opportunity for hosting this event in Hong Kong is that I was recently invited to join the Web 3.0 Development Task Force chaired by the Financial Secretary, Mr. Paul Chan Mo-po. Therefore, I also hope to promote communication among Web 3.0 companies and practitioners in Hong Kong and the Greater Bay Area through action.
Q: It is said that the salon was originally planned for only 50 people, but nearly a hundred people showed up. Many people must have been attracted by your and Professor Li's "academic prestige". Did you anticipate such a hot turnout on-site?
Gu Ronghui: First of all, thank you very much for everyone's strong support for CertiK! Based on the development trends and business opportunities of Web 3.0, after the popularization of blockchain technology and the continuous expansion of application scenarios, more and more advanced players are entering the Web 3.0 track.
These advanced players have a better understanding of the importance of security and also understand the urgent need for Web 3.0 to establish a complete compliance system, including legal regulations and industry standards. This is also the purpose of many partners coming here today, to discuss how to promote the development of Web 3.0 and ensure its sustainability through technological means and compliance measures.
Q: Based on this, what do you think will be the next development trend of Web 3.0?
Ronghui Gu: Web 3.0 is currently still in a rapid development stage. More innovation and possibilities means that it will continue to generate more opportunities and trends. However, from the perspectives of security, technology, and application, the challenges, thresholds, and barriers associated with it will also become higher. In response to this trend, elite talents and academia in this field will inevitably step into more and even higher domains. More professional talents and technical means can provide more comprehensive security and technical safeguards for Web 3.0.
On the other hand, the influx of elite talents also brings new momentum to the development of Web 3.0. These talents have rich experience and technical strength, and can provide more comprehensive support for the development of Web 3.0, thereby greatly recognizing the value and development space of Web 3.0. The layout of large-scale high-end players in Web 3.0-related projects and businesses means that their abundant resources and technical experience will also be introduced into this field, helping Web 3.0 to better cope with development challenges.
Q: What kind of impact will this development trend have on the industry?
Ronghui Gu: In addition to the aforementioned elite talents, the research results and technological advancements in academia are also continuously providing a solid foundation for the development of Web 3.0. Academia is exploring more application scenarios and development directions of Web 3.0 technology, which also provides important support for the development of Web 3.0.
With the development of Web 3.0 and the entry of higher-level players, more people will realize that security issues, compliance, and risk reduction are the key points and trends that cannot be ignored in the future.
In this context, the overall trend will lead to more industry attention and demand for the security field, thereby further playing an important role in protecting the Web 3.0 ecosystem and establishing a virtuous cycle for ecosystem health.
Q: Why do you think security will be the key point and trend in the future?
Gu Ronghui: Of course. Just talking from the academic community, not long ago, I won the 2022 VMware Systems Research Award. This award aims to recognize and support emerging research with potential and prospects in the field of computer science systems, and focus on breakthrough research that has the potential to greatly promote the development of computer science. This award indirectly proves that CertiK, which I represent, has received recognition from the academic community for its foundational contributions to system verification theory. It is also a great encouragement for us to transform theoretical research findings into flawless and secure system software applications and expand their application areas.
It is not only the various benefits in the academic community, but we have been committed to the security education of Web 3.0 precisely because security is not a single-layer concept. It is an indispensable part of building a complete ecosystem. The larger the scale of Web 3.0, the more audience it has. At the same time, it means that the security threats faced by the world will be higher, which in turn will affect the utilization rate of Web 3.0.
Let's take another simple example. If a project establishes trust through security measures, it not only achieves fairness and compliance, but also prevents malicious actors and proves to honest actors that it has sufficient security standards.
The hosting of this salon can also explain many things: everyone has realized that ensuring the security of Web 3.0 is not only a technical challenge, but also a social responsibility. Only through continuous technological innovation and win-win cooperation can we ensure the security of Web 3.0 and promote its healthy and sustainable development.
Q: What do you think is the greatest value of a security-themed salon like this?
Gu Ronghui: By organizing a salon with security as the theme, practitioners can gather together to share our experiences and knowledge in the field of security and jointly explore how to improve the security of the Web 3.0 industry. Through such a salon, practitioners can learn about the latest security technology trends and best practices, in order to better protect their own interests and the interests of others. Offline communication can also promote collaboration between different teams in the industry, thereby improving the overall security of the industry. This value and significance can be measured by data - the decreasing risk rate and loss of assets in the Web 3.0 world.
As we can see, well-known media such as Loong, Odaily, PANews, and Foresight have provided support for this offline salon, which also confirms that security is a key topic that all practitioners cannot bypass.
Q: For those who could not attend the event, can you briefly describe the key points of the speeches?
Ronghui Gu: In addition to me, the guest speaker this time is Professor Li Kang, the Chief Security Officer of CertiK. Professor Li Kang is the Dean of the School of Cybersecurity and Privacy at the University of Georgia in the United States and a professor in the Department of Computer Science. He has extensive research and management experience in the field of computer network and system security. In his speech, he used multi-party computation (MPC) and trusted execution environment (TEE) as entry points to explain how emerging technologies empower the security of Web 3.0 wallets. He emphasized the security threats related to MPC wallets that are often overlooked, and explored and solved these challenges to better protect Web 3.0 users.
The main content of my sharing is the practice of intelligent analysis in security auditing. Currently, we are using cutting-edge formal verification technology, security intelligent auditing technology, and security expert manual auditing to ensure the security of projects by scanning and monitoring blockchain protocols and smart contracts. One of the representative products is CertiK's Skynet Security Rating feature, which evaluates the security status of Web 3.0 projects using a weighted average score of a series of security indicators, allowing users to easily assess the security of projects at a glance. As practitioners in the security industry, we hope to enhance the security of more Web 3.0 projects in the future and give users "peace of mind" along their security journey.
In conclusion
With the continuous development of Web 3.0 technology, the security prospects of Web 3.0 will receive more and more attention and focus. Although there are still many challenges to face, we believe that the joint efforts of all parties will build a more secure, reliable, and sustainable Web 3.0 ecosystem.
CertiK is willing to be a bright knight in the dark forest of Web 3.0, providing developers and users with a better security experience, promoting the further development and popularization of the Web 3.0 industry, and contributing to the prosperity and development of the global economy.
