1. BITBILIHome
  2. Article

Hong Kong has some big dreams for web3

• 89 views

TL;DR Breakdown

  • Hong Kong’s Financial Secretary, Paul Chan Mo-po, is championing the potential of Web3 technology.
  • Web3 promises innovations like NFTs, GameFi, and Play-to-Earn gaming, reshaping digital entertainment.
  • Cyberport, a tech hub in Hong Kong, is positioned as a hotbed for Web3 innovations with significant funding and over 180 tech companies.

Description

Bold ambitions are pulsing through Hong Kong’s tech hubs. Hong Kong’s financial compass, Paul Chan Mo-po, isn’t one to let sleeping dogs lie, especially when the future of the digital realm is unfolding right before our eyes. At the forefront of the digital revolution, Hong Kong stands tall, yearning for what the Web3 era has … Read more

Bold ambitions are pulsing through Hong Kong’s tech hubs. Hong Kong’s financial compass, Paul Chan Mo-po, isn’t one to let sleeping dogs lie, especially when the future of the digital realm is unfolding right before our eyes.

At the forefront of the digital revolution, Hong Kong stands tall, yearning for what the Web3 era has to offer.

The Future of Digital Entertainment: More Than Just Pixels

Web3 isn’t just another fancy tech term. Its foundations in blockchain technology signal a shift in how we perceive digital interaction. NFTs, GameFi, Play-to-Earn gaming, immersive entertainment—you name it.

These aren’t mere digital toys; they’re the vanguard of the digital entertainment’s next epoch. Blockchain’s decentralized nature introduces a sense of transparency and security, changing the way industries ranging from finance to supply chains operate. It’s no longer business as usual.

But here’s where things get juicy. Upon visiting the Digital Entertainment Leaders Forum at Cyberport, Chan threw his weight behind the potential of Web3.

For those in the dark, Cyberport isn’t just any tech park—it’s a sprawling, bustling hub for innovation. Home to tech enthusiasts, entrepreneurs, and pioneers, it’s a breeding ground for the digital dreams of tomorrow.

Cyberport: The Web3 Cauldron Boiling with Innovation

Earlier this year, Hong Kong’s financial guru allocated a whopping $50 million to Cyberport, ensuring that it’s turbocharged for Web3’s imminent dominance. This isn’t just a mere financial nod. It’s a bold statement to the world that Hong Kong means business.

With more than 180 Web3-tech firms under its massive canopy, Cyberport stands as a beacon for innovation. What’s even more tantalizing? A good chunk of these companies—about 20%—aren’t even homegrown.

They’ve jetted in from around the globe, seeking the fertile ground that Hong Kong offers. Now, let’s address the elephant in the room. China. Our northern neighbor has been giving the cold shoulder to cryptocurrencies for what feels like eons.

But Hong Kong? We’re charting our own course. By rolling out crypto-friendly policies, Hong Kong is paving the way to become the go-to global digital asset hub.

Hong Kong’s commitment doesn’t stop at mere words and financial boosts. The creation of a Web3 task force demonstrates a hands-on approach, ensuring the industry’s growth is both responsible and sustainable. And the fruits are already showing.

Come August 3rd, and Hong Kong’s crypto scene experienced a seismic shift. HashKey, a local crypto exchange, broke barriers. No longer was it tethered to the confines of institutional investors. The floodgates for retail investors were now wide open.

In a world where digital landscapes are continually shifting, Hong Kong is carving its niche. Paul Chan Mo-po’s drive and vision, combined with the relentless pursuit of innovation at hubs like Cyberport, means Hong Kong is not just ready for the Web3 era—it’s leading it.

The future might be uncertain for many, but for Hong Kong, it’s as bright as the neon lights that grace its streets. It’s high time the rest of the world takes notice.

Disclaimer: 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 has some big dreams for web3

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8月29日 10:19
Next 2023年8月29日 11:29

Related articles

  • Paradigm files amicus brief rejecting SEC’s lawsuit against Bittrex

    TL;DR Breakdown Paradigm has published an amicus brief in the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Bittrex The investment firm says that the SEC lawsuit should be dismissed for lack of a proper regulatory framework Description Paradigm, a crypto investment firm, has published an amicus brief concerning the Bittrex lawsuit by the U.S. Securities and Exchange Commission’s (SEC) lawsuit. The firm has rejected the regulator’s “unsupported attempt” in its crypto secondary market’s effort to expand its jurisdiction.  Paradigm says SEC lawsuit should be dismissed The SEC case against U.S.-based cryptocurrency exchange … Read more Paradigm, a crypto investment firm, has published an amicus brief concerning the Bittrex lawsuit by the U.S. Securities and Exchange Commission’s (SEC) lawsuit. The firm has rejected the regulator’s “unsupported attempt” in its crypto secondary market’s effort to expand its jurisdiction.  Paradigm says SEC lawsuit should be dismissed The SEC case against U.S.-based cryptocurrency exchange Bittrex should be “dismissed,” according to the firm’s special counsel Rodrigo Seira, who shared his thoughts in a thread on Twitter on July 11 following Paradigm’s filing of the…

    Article 2023年7月12日

  • Coinbase is so confident it will beat the SEC – Why?

    TL;DR Breakdown Coinbase is confident in winning the ongoing lawsuit against the SEC. The legal battle signifies a challenge to the existing regulatory framework governing digital assets. Coinbase’s stance is a conscious effort to redefine regulation, seeking clarity, fairness, and alignment with industry evolution. Description Coinbase, the prominent U.S.-based cryptocurrency exchange, is poised and ready to face down the U.S. Securities and Exchange Commission (SEC). But what fuels this bold confidence? Are they merely posturing, or is there a valid reason behind their unflinching assurance of victory? It’s time to break down why Coinbase believes it will come out triumphant … Read more Coinbase, the prominent U.S.-based cryptocurrency exchange, is poised and ready to face down the U.S. Securities and Exchange Commission (SEC). But what fuels this bold confidence? Are they merely posturing, or is there a valid reason behind their unflinching assurance of victory? It’s time to break down why Coinbase believes it will come out triumphant against the federal regulator in the ongoing lawsuit. Standing up against the SEC From the moment the SEC filed its lawsuit against…

    Article 2023年8月5日

  • SEC granted extention to respond to Coinbase’s defense in landmark legal battle

    TL;DR Breakdown The SEC has been granted a two-week extension to prepare its response to Coinbase’s legal defense. Coinbase filed a motion for judgment on the pleadings and submitted a detailed answer to the SEC’s complaint. The court rescheduled the pre-trial conference to a pre-motion conference and the SEC’s response will be presented on July 13. The outcome of the case holds implications for the crypto industry and regulatory frameworks. Description The United States Securities and Exchange Commission (SEC) has been granted an extension of two weeks to prepare its response to Coinbase‘s legal defense. According to a court order issued on Thursday, the SEC will present its response on July 13. In a recent filing, the SEC requested a three-business-day extension to adequately address the … Read more The United States Securities and Exchange Commission (SEC) has been granted an extension of two weeks to prepare its response to Coinbase‘s legal defense. According to a court order issued on Thursday, the SEC will present its response on July 13. In a recent filing, the SEC requested a three-business-day extension…

    Article 2023年7月3日

  • Goldman expects no more hikes until Q2 2024

    TL;DR Breakdown Goldman Sachs bank foresees no further rate hikes for the remainder of this year.  The economists at Goldman predict a series of reductions of 25 basis points per quarter. Description Goldman Sachs Group Inc.’s economists predict that the Federal Reserve will initiate a decline in interest rates by the end of the next June next year. This reduction is anticipated to occur measuredly, occurring quarterly after that time. Goldman’s economists, Jan Hatzius and David Mericle, have elaborated that the adjustments outlined in their projection stem … Read more Goldman Sachs Group Inc.’s economists predict that the Federal Reserve will initiate a decline in interest rates by the end of the next June next year. This reduction is anticipated to occur measuredly, occurring quarterly after that time. Goldman’s economists, Jan Hatzius and David Mericle, have elaborated that the adjustments outlined in their projection stem from the intention to readjust the funds’ rate from its current constraining level, particularly when inflation draws nearer to the targeted range. Goldman sees 25 basis points cut per quarter The Goldman team has projected…

    Article 2023年8月14日

  • Crypto platforms in South Korea called to bolster compliance capacity

    TL;DR Breakdown South Korea intensifies efforts against crypto-related crime. KoFIU focuses on strategic analysis to combat criminal activities involving cryptocurrencies. Domestic crypto service providers employ innovative AI technology to detect fraud. Description South Korean authorities have stepped up their efforts to combat crypto-related crime. Without specific laws addressing these challenges, the government has taken proactive measures to assist virtual asset service providers in complying with regulations and curb criminality in the crypto space. The Financial Services Commission’s recent statement revealed that the Korea Financial Intelligence Unit (KoFIU), … Read more South Korean authorities have stepped up their efforts to combat crypto-related crime. Without specific laws addressing these challenges, the government has taken proactive measures to assist virtual asset service providers in complying with regulations and curb criminality in the crypto space. The Financial Services Commission’s recent statement revealed that the Korea Financial Intelligence Unit (KoFIU), an agency dedicated to combating money laundering and terrorist financing, has convened a consultative body meeting to strengthen the compliance capacity of virtual asset service providers. This move comes hot on the heels of forming…

    Article 2023年7月27日
TOP