AI Sentiment: Bullish
Reason: The article is bullish on Arc, a Web3 infrastructure and services company, as it details the company's positive outlook on the Asian market's approach towards Web3, driven by high mobile penetration, super apps, and the region's openness to innovation.
At the Consensus: Hong Kong 2025 conference, Elroy Cheo, Head of Asia at Arc, a Web3 infrastructure and services company, shared insights on how Asia is approaching the Web3 space differently. Cheo articulated that the Asian market has a different perspective towards Web3, which is largely driven by cultural, historical, and socioeconomic factors.
According to Cheo, Asia is not just following the Western playbook, but is innovating and creating its own path. He highlighted the factors that make the Asian crypto market unique, which include high mobile penetration, the presence of super apps, and the region's historic relationship with technology. Asian countries have higher mobile penetration rates and are more accustomed to mobile payments, which allows Web3 to be more easily integrated.
Super apps, which are prevalent in Asia, also play a crucial role in shaping the Web3 landscape. Super apps are multifunctional applications that provide various services such as communication, social networking, shopping, payments, and more within a single platform. Cheo believes that these apps could serve as a gateway to Web3 for many Asian users.
Cheo also highlighted the historical relationship of Asian countries with technology. He pointed out that countries like China, Japan, and South Korea have been at the forefront of technological advancements for decades, which has fostered an environment conducive to the adoption of Web3.
Another significant point raised by Cheo is the regulatory environment in Asia. He noted that while there are regulatory challenges, Asian countries are generally more open to innovation and experimentation, and are thus more willing to embrace Web3. Cheo concluded by stating that these unique characteristics and conditions in Asia could potentially result in a different trajectory for Web3 in the region, one that deviates from the Western model.