Original author: James Wo, Founder CEO, DFG
Thailand is emerging as a key player in Southeast Asia’s thriving cryptocurrency and Web3 ecosystem. With a population of over 70 million, Thailand has embraced blockchain technology, supported by government policies that encourage innovation and growth in the digital economy. Incentives such as tax exemptions on digital token investments have solidified Thailand’s appeal as a hub for blockchain investors. Across Southeast Asia, blockchain adoption is booming, fueled by a tech-savvy population and growing infrastructure. This momentum was evident during Devcon week, which included standout events such as Thailand Blockchain Week hosted by Cryptomind, EVM Summit 2024 hosted by KXVC (the venture capital arm of KASIKORN Business Technology Group), and NEAR’s [REDACTED] event. These gatherings highlighted Thailand’s leadership in Southeast Asia’s vibrant Web3 sector, laying the foundation for further growth and innovation.
DFG has been a staunch advocate of the Ethereum ecosystem, driving its development and innovation in various fields. This years Devcon in Bangkok brought together thousands of developers, researchers and industry leaders, showcasing Ethereums vibrant global community. Devcon and Thailand Blockchain Week highlighted groundbreaking projects, fascinating discussions and cutting-edge trends shaping the blockchain landscape. In a vibrant atmosphere, topics such as artificial intelligence, decentralized science (DeSci) and real world assets (RWA) became the focus of innovation and exploration during Devcon and its related side events.
Key Highlights
AI
The growing synergy between DeFi and AI agents took center stage at Mode Network’s event “Mode Devcon — DeFi x AI”, co-hosted by Big Brain, DFG, and Gate Ventures. Mode Network is repositioning its L2 infrastructure to support DeFi agents, differentiating itself from the rest of the L2 ecosystem by focusing exclusively on DeFi. This singular focus provides a clean data environment ideal for training AI agents tailored for financial applications. As a co-host, DFG is proud to connect and support Mode’s AI-driven initiatives.
NEAR also stood out for its [REDACTED] event, where I attended a panel on chain abstraction. NEAR advocates for user-owned applications that empower individuals and communities through innovative technology. The NEAR Horizon AI incubation program partners with decentralized AI projects to build infrastructure for complex applications. Notably, NEAR launched an AI assistant that leverages chain abstraction to enable seamless asset exchange, fiat currency integration, and automated task coordination, such as booking flights or managing operations between AI agents. These advancements showcase NEAR’s commitment to converging AI and Web3 in a way that prioritizes utility and user privacy.
The event “Agents Unleashed Bangkok + The Humans Unleashed Party” focused on the intersection of AI and blockchain, with discussions focusing on AIFi, decentralized AI products, and autonomous agents. Among many outstanding projects, Vana is revolutionizing the AI data landscape with its user-owned data economy. With over 140,000 contributors, Vana’s RdataDAO initiative is a prime example of the shift toward decentralization in AI. By allowing individuals to maintain control of their data while unlocking its value for AI training, Vana represents the future of ethical, user-first AI. Other promising tools, such as Almanak and Brianknows, further enrich the AI ecosystem by enhancing coordination and interaction in the AI field.
At DFG, we firmly believe in the transformative potential of AI. By combining AI with blockchain, we can create systems that empower users, protect privacy, and unlock unprecedented value, driving innovation and enabling a decentralized and user-centric future.
DeSci
The rise of decentralized science (DeSci) became a key theme at this year’s Devcon. Binance’s DeSci Builders event showcased projects ranging from life extension to hair loss prevention, most of which were part of Bio Protocol. The platform serves as a hub for DeSci innovation, connecting teams with resources and exposure, rather than just focusing on venture capital.
Notably, Vitalik Buterin and CZ also attended the event, highlighting the importance of DeSci. Vitalik’s participation highlighted his personal interest in longevity science and his commitment to DeSci’s potential to improve lives. CZ expressed his desire to support academic and scientific advancement through funding and partnerships. Binance’s role as a potential launchpad for leading DeSci projects bodes well for the industry’s future. By filtering scams and nurturing impactful initiatives, Bio Protocol can serve as a foundation for the sustainable development of decentralized science.
DeSci offers a significant opportunity for mainstream adoption by addressing real-world problems such as health and longevity. Collaboration with major players such as Binance can facilitate a smooth transition from experimental research to market solutions. Additionally, integrating DeSci mechanisms into research funding creates new avenues for scientists and investors, making decentralized science a compelling frontier for innovation and impact.
RWA
Real World Assets (RWA) remain an effective solution to long-standing challenges in blockchain applications. By tokenizing tangible assets such as real estate, commodities, or accounts receivable, RWA bridges the gap between traditional finance and decentralized systems.
During Devcon, I saw growing interest in RWAs from venture capital firms, reflecting its transformative potential. These discussions highlighted the potential of RWAs to bring liquidity, transparency, and accessibility to previously illiquid markets. As more robust frameworks emerge, RWAs can address issues such as asset verification, legal compliance, and scalability, ushering in a new era of blockchain applications.
We focus on RWA because it can democratize access to wealth accumulation opportunities, thereby promoting greater inclusion in the global economy. By building infrastructure to support RWA, we can promote seamless integration between blockchain networks and the real-world economy, paving the way for a more inclusive and efficient financial ecosystem.
DFG activities
DFG has been a strong supporter of major Ethereum conferences, including Devcon. Over the years, we have actively participated in various roles such as panel presentations, moderators and judges to connect with innovators in the blockchain space. At this years Devcon, we expanded our participation and held two side events: Cultivating the Full Lifecycle and Venture Night: Crypto Edition. In addition, we co-organized Mode Devcon — DeFi x AI with our portfolio company Mode Network. These events provide a platform for discussing emerging trends and showcasing the transformative potential of blockchain technology, especially in the fields of AI and DeFi.
I’m excited to be participating in the Chain Abstraction DeFi panel at NEAR’s [REDACTED] event ! I’m excited about NEAR’s future as I believe it’s setting a high bar in terms of user experience and AI innovation. Chain abstraction, in particular, is becoming a critical feature, not only for NEAR but for the broader blockchain ecosystem. It’s great to see NEAR leading the way in simplifying cross-chain interactions while driving the development of user-centric utility applications.
I was delighted to give a short talk at Pudgy Penguins’ event, The Green Room: Bangkok Edition. Events like this highlight the huge potential of NFTs, and Pudgy Penguins embodies this with their innovative approach to building community and delivering value. Their success demonstrates how NFTs can drive engagement, creativity, and utility within the broader blockchain ecosystem.
Mode Networks event showcased six innovative AI projects incubated under its umbrella. Each project demonstrated a unique application of AI, highlighting Mode Networks commitment to promoting cutting-edge innovation in its DeFi L2 ecosystem. We are very proud to support Mode and its activities!
Our investment team is excited to once again participate in Meet the VC Brekky events for meaningful one-on-one meetings with promising projects. The energy and creativity in these discussions continues to inspire us in our commitment to supporting the next wave of transformative businesses.
Both of our events were a huge success! Cultivating the Full Lifecycle was a great opportunity to learn, connect, and explore the Web3 ecosystem at all stages from innovation to impact. I was excited to share my thoughts on AI and web3, the evolving DeFi landscape, and how DFG’s investment strategy aligns with these transformative trends. We also invited Ethereum hackathon winners Hanseek, Memora, and ZeroX Network to share their experiences tackling real-world challenges at the forefront of expanding Web3’s potential.
We are so grateful to all the guests and VCs who braved the rain to attend Venture Night: Crypto Edition! It was a truly memorable patio night filled with delicious food and insightful conversations. It was a great opportunity to connect with such a vibrant group and discuss the latest trends shaping the cryptocurrency and blockchain landscape.
DFG team members actively participated in various activities at Devcon, serving as panel speakers, moderators, and judges. DFG and Jsquare CMO Angela Tong hosted the Exploring RWA on the Blockchain panel at De.Fi World 2024, discussing the evolving role of real-world assets in the blockchain ecosystem with industry leaders.
DFG Marketing Manager Kexin Ye participated in a panel on Web3 Marketing organized by TaskOn to discuss community building in Web3 and how to drive growth for DFG portfolio companies through event synergy.
DFG Research Analyst Geng Kai participated in the “Democratizing AI Applications and Agents: Building a Collaborative Economy of Common Ownership” panel at the ChainOpera event to discuss strategies to bridge the gap in bringing “AI on Demand” to Web3. AI remains a major investment focus for DFG.
Until next time, Devcon!
Devcon 2024 demonstrated the Ethereum ecosystems relentless pursuit of innovation, with significant progress in AI, DeSci, and RWA. The Ethereum ecosystem has achieved solid business growth and strong revenue streams in a variety of applications, while new innovations continue to emerge, which strengthens our commitment to supporting Ethereum through active participation and investment in primary and secondary markets. Looking ahead to 2025, we expect a big bull run, and Ethereum will undoubtedly continue to shine as it continues to develop. We are excited to contribute to accelerating the adoption of blockchain and help shape the industry of the future.
Original article: https://dfg-official.medium.com/dfgs-devcon-recap-insights-thailand-and-sea-s-crypto-ecosystem-in-full-swing-ff543bca60fd
About DFG
Digital Finance Group (DFG) is a global leading Web3 investment and venture capital firm founded in 2015. DFG manages over $1 billion in assets and invests in different areas of the blockchain ecosystem. Our portfolio has invested in more than 100 pioneering projects including Circle, Ledger, Coinlist, Near, Solana, Render Network, ZetaChain, etc.
At DFG, we are committed to creating value for our portfolio companies through market research, strategic consulting and sharing our vast resources globally. We are actively working with the most transformative and promising blockchain and Web 3.0 projects that are poised to revolutionize the industry.
DFG website: https://dfg.group
DFG Twitter: @DFG__Official
DFG LinkedIn: DFG
