Fan Wenzhong, Executive Director of the China Finance Society: We are at a turning point from traditional money shops to modern banks, and the decentralized intelligent agent economy will reshape the future.
ChainCatcher on-site report: Fan Wenzhong, Executive Director of the China Society for Finance and Banking and former Chairman of Beijing Financial Holdings Group, delivered a keynote speech at the 2026 Hong Kong Web3 Carnival. He pointed out that we are currently at a historic turning point similar to the leap from traditional money houses to modern banking. AI is the advanced productive force in the physical world, while Web3 represents a new production relationship in the digital world. The integration of the two will give rise to a Decentralized Agent Economy (DAE).
He analyzed that AI Agents have the ability to execute tasks but lack independent identity, accounts, and trust mechanisms, which Web3 is precisely equipped to address through smart contracts, on-chain identity, and programmable currency. Conversely, AI Agents significantly lower the threshold for using Web3. He highlighted four main characteristics of DAE: agent sovereignty and 24/7 operation, high-frequency atomic exchanges, a collaboration mechanism based on technological trust rather than moral or legal frameworks, and organizational evolution from companies to DAOs and eventually to Decentralized AI Companies (DACs).
He warned that this transformation will impact the labor market, with white-collar workers being replaced before blue-collar workers. AI-driven quantitative funds are already delivering returns far superior to retail investors. He recommended that the government take the initiative to advance social security reform. Finally, he suggested that Hong Kong develops an autonomous high-performance public chain, pilots limited digital persona registration, attracts talent with expertise in both Web3 and AI, establishes a digital finance industry fund, and promotes synergy and innovation between the Hong Kong dollar stablecoin and digital RMB.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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