Singapore University of Social Sciences

GWEI 2022-Singapore Concluded with 80+ Speakers, Attendees from more than Ten Countries and 70,000+ Online Viewers

July 17, 2022

Do you have passion, confidence and dreams for Web3?

On July 14, the first “GWEI 2022 – Global Web3 Eco Innovation Summit – Singapore” (GWEI 2022-Singapore) was held at the Marina Bay Sands Expo and Convention Centre in Singapore, co-organized by the Singapore University of Social Sciences (SUSS) and SUSS Node for Inclusive FinTech (SUSS NiFT), and 8BTC’s new overseas brand “DeFiDAONews”.

The summit is title-sponsored by OKX, the world’s leading Web3 ecosystem builder.

Nearly 80 industry thinkers from financial authorities, universities, investment institutions, financial institutions, trading platforms, NFT, GameFi, DAO and other Web3 areas took the stage.

Over 1,000 attendees from at least 11 countries and regions around the world attended the Summit. More than 70,000 people from around the world watched the Summit via live streaming. GWEI 2022-Singapore was covered or reported by at least 20+ Chinese media and 20+ overseas media.

(For some of the great ideas about Web3 shared during GWEI 2022-Singapore, please see From 40+ ‘Super Brains’, We Found the Beauty of Web3 at

In addition to these great insights, GWEI 2022-Singapore is also a window to observe the current state of global Web3 development.

Web3 is becoming a popular trend

GWEI 2022-Singapore was Singapore’s first major offline Web3-themed summit since the epidemic. Before the Summit, the organizing committee sent out about 500 invitations to guests around the world, and we received more 1800 applications to attend.

The turnout was far greater than expected. At the Pre-Summit Dinner, we had nearly 400 guests and speakers. On the day of the Summit, more than 1,000 people attended, and the organizer had to add 100 chairs, totalling up to 800 chairs in both venues.

Many speakers described this Summit as the most crowded and informative blockchain event in Singapore since COVID-19 and that it is a mega social venue.

Attendees of the Summit include Web3 players and many big names from the internet space. People were networking; lunch and dinner meetings were arranged. Some guests were surprised that the Web3 industry is more popular and the practitioners are more enthusiastic than expected.

Web3 is a global trend! The Chinese community plays an important role

The Summit was held in Singapore, traditionally one of the core nodes of global finance, with many of the leading companies in the Web3 space setting their own office (‘nodes’) in Singapore.

The very fact that the Summit was held in Singapore proved that GWEI 2022-Singapore was a global Web3 gala. The 1,800 applications for attendance came from more than 10 cities, including Hong Kong, Taipei, Kuala Lumpur, Bangkok, Sydney, Mumbai, Montreal, Berkeley, London and Rotterdam.

While English is the global language for Web3 practitioners, Chinese was undoubtedly the “official language” of the Summit, not only because it is a commonly spoken language in Singapore, but also because Singapore is home to many Web3 practitioners from the Chinese-speaking world. Some of the Chinese guests at the Summit were overwhelmed with emotion – a mixture of sadness and joy, all because of Web3.

Perhaps more importantly, GWEI 2022-Singapore is the first industry summit in the world where both English and Chinese are spoken. You can hardly find another summit brand that links Web3’s Chinese and English communities.

Cross-border dialogue with consensus reached: Web3 is the future

GWEI 2022-Singapore invited representatives from some of the top projects from various Web3 tracks to share their views. This includes well-known Web3 companies or projects such as Ethereum Foundation, OKX, KuCoin, KuCoin Ventures, Huawei Cloud, Coinbase, Huobi Global, QCP Capital, PingCAP, Klatyn Foundation, HCM Capital, Artichoke Capital and many more.

Among the participants were also many companies, such as Deloitte, Sygnum Bank, and Hong Lai Hua Group. Top executives from top-tier global internet technology companies such as Meta, YouTube, JPM, Microsoft, Google, Amazon, and Netflix were among the attendees.

Sopnendu Mohanty, Chief Fintech Officer of Monetary Authority of Singapore, Tansaya Kunaratskul, Senior Specialist at the Office of Corporate Strategy at the Bank of Thailand and Prof Cheong Hee Kiat, President of the Singapore University of Social Sciences, shared their insights on Web3 at the Summit.

Many attendees commented that this was the highest profile and most prestigious Web3 summit they had ever attended, with industry leaders bringing the most authoritative interpretations of Web3 trends. In particular, the active participation and dialogue on regulation made them look forward to the industry’s future.

This may also reflect a trend that Web3 is not on the fringes. Rather, regulators, internet giants and more are all looking for an entry point to embrace Web3.

Singapore – a core node of the Web3 world

Singapore is a small country, but it is very open to financial and technological innovation and actively promotes industry development. Such open mind and active participation are evident in the GWEI 2022-Singapore.

At the Summit, the Monetary Authority of Singapore (MAS), Singapore University of Social Sciences (SUSS) and the Global Fintech Institute (GFI) signed a Memorandum of Understanding (MOU) on the SME Financial Empowerment (SFE) programme, which aims to provide micro, small and medium enterprises (MSMEs) with basic digital financial literacy training.

DeFiDAONews has also worked with SUSS Node for Inclusive Fintech (NiFT) to jointly publish the report A Review of Global Web3 Eco-Innovation, co-authored by both parties by a DAO-like working model, covering core Web3 tracks such as infrastructure, DeFi, NFT, GameFi, DAO, Metaverse and regulation. It is the definitive and essential guide for the public to understand the Web3 ecosystem and its implications.

GWEI 2022-Singapore came to a close, and Singapore will be home to a huge number of blockchain events from July to September. The guests believed that GWEI 2022-Singapore was the first to ignite the enthusiasm of the Singaporean public. Going forward, Singapore’s position as a core node in the Web3 space is becoming increasingly apparent.

Responsible Innovation & Web3

Prof Daivd Lee, Centre Advisor of SUSS (NiFT) again highlighted the importance of responsible innovation, and GWEI actually also represents Good Work, Ethics and Innovation. Web3 technology is still designed & written by humans, and there needs to be a mechanism to ensure good ethics and outcomes.

Almost none of the entrepreneurs starts out with the premises of irresponsible innovation, but we might lose our way as the going gets tough. Hence, having strong values and commitment to what we believe in helps to keep us on track. Always ask ourselves what kind of results are we producing, and what kind of impacts it has to our society. This is where conferences and summits like GWEI comes in, where tech entrepreneurs get to learn from experienced professionals of the industry and to avoid repeated mistakes. 

SUSS NiFT also provides fintech-related workshops, technical trainings to better prepare students and the public for digital transformation, and a platform for all professionals and tech entrepreneurs to connect for possible collaborations. 

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