1. BITBILIHome
  2. Article

Hong Kong’s Cyberport becomes hotbed for Web 3.0 innovation, attracts top tech companies

• 108 views

TL;DR Breakdown

  • Hong Kong’s Cyberport witnesses a surge in Web 3.0 registrations, attracting top tech companies.
  • Finance Secretary allocates $6.39 million to Cyberport to nurture Web3 ventures.
  • Cyberport hosts 1,900 digital tech enterprises, including Hashkey Group and Consensys.

Description

Hong Kong’s Cyberport, a renowned technological business park backed by the government, has witnessed a staggering surge in the registration of Web3 enterprises over the past year.  In a blog post published on Sunday, Finance Secretary Paul Chan revealed that more than 150 firms had joined the Cyberport ecosystem, although he refrained from disclosing their … Read more

Hong Kong’s Cyberport, a renowned technological business park backed by the government, has witnessed a staggering surge in the registration of Web3 enterprises over the past year. 

In a blog post published on Sunday, Finance Secretary Paul Chan revealed that more than 150 firms had joined the Cyberport ecosystem, although he refrained from disclosing their identities.

Recognizing the immense potential of Web3 businesses and their contribution to the technology landscape, Chan announced a substantial allocation of HK$50 million (approximately $6.39 million) to Cyberport. This funding aims to attract and nurture the growth of Web 3.0 ventures that leverage cutting-edge technologies like blockchain, AI, IoT, and the metaverse.

Amid this surge, Cyberport already hosts an impressive lineup of digital technology enterprises, with over 1,900 companies either situated or registered within its premises. Among notable names include Hashkey Group, a regulated cryptocurrency exchange; Animoca Brands, a significant Web3 venture capital and game developer; and Consensys, the Ethereum software firm responsible for the popular crypto wallet MetaMask.

These developments further solidify Hong Kong’s position as a leading hub for innovative technology companies and reinforce its commitment to fostering a thriving digital ecosystem. The city has long been at the forefront of embracing emerging technologies and promoting digital transformation.

Hong Kong recently implemented licensing regulations tailored to exchanges catering to cryptocurrency retail investors in a significant move. This regulatory framework, which took effect on June 1st, ensures that exchanges operating in the city meet essential compliance standards, bolstering investor protection and instilling confidence in the crypto market.

The convergence of these factors, including the influx of Web 3.0 enterprises, the financial backing from the government, and the new licensing regulations, sets the stage for a vibrant and forward-looking digital landscape in Hong Kong. As the city continues to attract diverse tech-driven ventures, it becomes an attractive destination for entrepreneurs, investors, and professionals seeking to capitalize on the opportunities presented by the next generation of the internet.

Hong Kong’s commitment to embracing Web3 technologies and its proactive stance in fostering innovation within the digital sector showcases its dedication to technological advancement and positions it as a critical player in the global digital economy.

The future appears promising as Hong Kong’s Cyberport propels the city into Web 3.0, paving the way for transformative experiences and groundbreaking advancements in the digital realm.

The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Hong Kong’s Cyberport becomes hotbed for Web 3.0 innovation, attracts top tech companies

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年6月21日 13:22
Next 2023年6月21日 14:42

Related articles

  • Tech CEOs urge US to rethink China restrictions

    TL;DR Breakdown US tech leaders from Intel, Nvidia, and Qualcomm have expressed concern to the Biden administration about the effect of export restrictions to China on the American chip industry’s global leadership. These discussions occurred in the midst of increasing US-China tensions, which are forcing tech companies to limit their operations in their largest market, China. Executives argued that existing regulations limiting the export of AI hardware to China haven’t slowed China’s AI development as intended. Description In a bid to potentially reshape the United States’ stance on export restrictions to China, top tech executives recently aired their concerns to key Biden administration officials. Executives from Intel, Nvidia, and Qualcomm highlighted the potential risks to America’s leadership position in the chip industry and encouraged the administration to reconsider the ramifications of these … Read more In a bid to potentially reshape the United States’ stance on export restrictions to China, top tech executives recently aired their concerns to key Biden administration officials. Executives from Intel, Nvidia, and Qualcomm highlighted the potential risks to America’s leadership position in the chip industry…

    Article 2023年7月23日

  • U.S. financial sector takes on new capital rules

    TL;DR Breakdown U.S. financial sector faces new capital regulations intended to reinforce the financial system. The proposal requires banks to increase their capital reserves by 16% to reflect risk levels of certain assets. Industry lobby groups argue that the regulation could impede lending to consumers and slow the economy. Description As U.S. financial markets evolve, the sector finds itself contending with new capital regulations that have the potential to reshape the landscape. In the shadow of recent financial crises, regulators in the nation’s capital have implemented a vast overhaul of capital requirements, causing ripples of concern and critique within banking industry circles. However, despite the … Read more As U.S. financial markets evolve, the sector finds itself contending with new capital regulations that have the potential to reshape the landscape. In the shadow of recent financial crises, regulators in the nation’s capital have implemented a vast overhaul of capital requirements, causing ripples of concern and critique within banking industry circles. However, despite the backlash, the regulators persist in their endeavor to fortify the U.S. financial system. Capital Regulations Reinforcing the…

    Article 2023年8月8日

  • HashKey Pro seeks lucrative virtual asset license upgrade in Hong Kong

    TL;DR Breakdown Hashkey Pro, an Asian-based crypto exchange, has applied for a license upgrade to the Securities and Futures Commission (SFC) of Hong Kong The exchange is looking to expand its operations in the region Description HashKey Pro, an Asian-based crypto exchange, has applied for a license upgrade to the Securities and Futures Commission (SFC) of Hong Kong to offer virtual asset services.  Regional media sites report that the exchange does not foresee any issues with getting its application granted. In the upcoming weeks, it aims to start offering services for … Read more HashKey Pro, an Asian-based crypto exchange, has applied for a license upgrade to the Securities and Futures Commission (SFC) of Hong Kong to offer virtual asset services.  Regional media sites report that the exchange does not foresee any issues with getting its application granted. In the upcoming weeks, it aims to start offering services for virtual assets to small-scale cryptocurrency investors. HashKey Pro is looking to expand its operations HashKey Pro recently mentioned that it sees an opportunity to develop itself as a key player in…

    Article 2023年7月10日

  • Crypto wallet maker Ledger launches controversial recovery service amid backlash

    TL;DR Breakdown Ledger, a leading crypto wallet maker, has launched a controversial recovery service, Ledger Recover, which secures user seed phrases but requires users to provide a government-issued ID. The crypto community has reacted strongly, arguing the service undermines the purpose of hardware wallets and infringes on privacy principles, particularly in light of Ledger’s previous security breach. Despite the backlash, Ledger’s leadership defends the service, claiming it’s an optional, secure measure and a necessary step to attract new crypto users. The modern-day debate between privacy and convenience has found its way into cryptocurrency. Ledger, the Paris-based producer of hardware wallets at the heart of the dispute, offers cryptocurrency holders the highest level of security. A new feature introduced by Ledger, known as “Ledger Recover,” has sparked a significant backlash, fueling a broader discussion about the future of crypto security. Exciting update, Ledger has a new product, Ledger Recover, that’s launching soon: https://t.co/nT1VHnnSYz 🧵Here’s what Ledger Recover is and what it isn’t, explained by @P3b7_ & in the thread below. pic.twitter.com/RW1w07H6pK — Ledger (@Ledger) May 16, 2023 The innovation: Ledger’s response…

    Article 2023年5月17日

  • Gold prices in Japan soar past 10,000 yen per gram amid economic uncertainty

    TL;DR Breakdown On Tuesday, the retail cost of gold in Japan crossed the 10,000 yen ($68.31) per gram mark for the first time, reaching 10,001 yen per gram. Japanese yen depreciation against the U.S. dollar continues due to Fed credit control, rising interest rates, and rising gold prices. Description On Tuesday, the retail cost of gold in Japan crossed the 10,000 yen ($68.31) per gram mark for the first time, reaching 10,001 yen per gram on that day, marking a 28 yen surge from the previous day’s price. The value of gold in yen has been climbing due to the yen’s decline against the … Read more On Tuesday, the retail cost of gold in Japan crossed the 10,000 yen ($68.31) per gram mark for the first time, reaching 10,001 yen per gram on that day, marking a 28 yen surge from the previous day’s price. The value of gold in yen has been climbing due to the yen’s decline against the dollar. This rise is linked to a rising desire for gold as a secure investment, prompted by worries…

    Article 2023年8月29日
TOP