Hong Kong Government Establishes Task Force for Web3 Development
Hong Kong is aiming to become a hub for Web3 development, according to Financial Secretary Paul Chan. In a press release on Friday, the Hong Kong Government announced the establishment of a task force for promoting Web3 development. The task force, chaired by Paul Chan, consists of 15 non-official members from relevant sectors and key government officials, along with financial regulators.
Key Points:
- The Hong Kong Government has established a task force for promoting Web3 development.
- The task force is chaired by Financial Secretary Paul Chan.
- It comprises 15 non-official members from relevant sectors and key government officials.
- The Government plans to allocate $6.4 million (HK$50 million) to develop its Web3 ecosystem.
- A virtual asset task force has also been announced.
Hot Take:
Hong Kong’s move to establish a task force for Web3 development shows its commitment to embracing blockchain technology and virtual assets. With the potential to solve complex problems in finance, business operations, and trade, Web3 has the ability to revolutionize various sectors. By investing in the development of its Web3 ecosystem, Hong Kong is positioning itself as a leading player in this emerging field. This proactive approach will likely attract innovators, investors, and businesses to the region, contributing to its growth and competitiveness in the global digital economy.
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