The leader of the Hong Kong Web3Hub fund has suggested that the Monetary Authority issue digital Hong Kong dollars in the form of “stable currency”

On April 11th, it was reported that Wu Jiezhuang, co founder of G-Rocket, a startup accelerator, led the establishment of the Hong Kong “Web3Hub” fund this week. He stated that he had proposed to the Hong Kong Monetary Authority to issue digital Hong Kong dollars in the form of “stable currency”, which would help promote future online cross-border transactions and reduce the risk of financial crises. Wu Jiezhuang continued to say that if the Hong Kong government can reinvent itself and become the world’s first official stable currency to be issued with cash support to improve stability, it can avoid bankruptcy and also enter the Web3.0 market with the Hong Kong dollar.

The leader of the Hong Kong Web3Hub fund has suggested that the Monetary Authority issue digital Hong Kong dollars in the form of “stable currency”

I. Introduction
A. Background information on Wu Jiezhuang and G-Rocket
B. Overview of the establishment of the Hong Kong “Web3Hub” fund
II. The proposal for digital Hong Kong dollars
A. Explanation of stable currency
B. Advantages of digital Hong Kong dollars
1. Promotion of online cross-border transactions
2. Reducing the risk of financial crises
III. The potential impact of the proposal
A. Importance of government support
B. Hong Kong’s opportunity to lead in the Web3.0 market
IV. The future of stable currencies
A. Increased adoption of stable currencies
B. The potential effects on the global economy
V. Conclusion
A. Recap of the proposal’s benefits
B. Possibility of the Hong Kong dollar becoming a global leader in stable currency
VI. FAQs
A. What is a stable currency?
B. How does a stable currency differ from traditional cryptocurrencies like Bitcoin?
C. Will other countries follow Hong Kong’s lead in issuing stable currencies?

# On April 11th, it was reported that Wu Jiezhuang, co-founder of G-Rocket, a startup accelerator, led the establishment of the Hong Kong “Web3Hub” fund this week.
In an effort to promote future online cross-border transactions and reduce the risk of financial crises, Wu Jiezhuang proposed to Hong Kong Monetary Authority the issuance of digital Hong Kong dollars in the form of stable currency. With cash support preparing the Hong Kong government to become the world’s first official stable currency issuer, it can not only avoid bankruptcy, but also become a leading force in the Web3.0 market.
Since its inception, cryptocurrency and blockchain technology have been promoted as solutions to financial problems, including borderless transactions and financial stability. However, the volatile nature of cryptocurrencies has made it unsuitable for mainstream use. This is where stable currency comes in.
Stable currency is a type of cryptocurrency that is pegged to a stable asset, typically a fiat currency like the US dollar or the Euro. The benefit of stable currency is that it is less volatile, which makes it a more stable medium of exchange.
By issuing digital Hong Kong dollars in the form of stable currency, Hong Kong can promote cross-border transactions by offering a stable and secure means of payment. This would also contribute to financial stability since stable currency is less susceptible to price changes and market fluctuations.
For Hong Kong to become a leader in stable currency, it would require strong government support. This would require monetary authorities to conduct in-depth research and development, which would lead to the creation of a regulatory framework. A regulatory framework is essential for mainstream adoption, as it would provide a level of security and trust for users.
A stable currency issued by Hong Kong could potentially be a game-changer in the Web3.0 market. Web3.0 represents the next evolution of the internet, where blockchain will play a significant role in powering decentralized applications. A stable currency issued by Hong Kong could be a significant driving force behind the transition to Web3.0, leading to more widespread adoption of the technology.
The potential impact of stable currency could extend beyond Hong Kong, potentially leading to increased adoption of stable currencies globally. As governments explore the potential advantages of stable currency, it is possible that other countries will follow Hong Kong’s lead in issuing their own stable currencies.
In conclusion, proposed digital Hong Kong dollars in the form of stable currency has the potential to benefit both Hong Kong and the Web3.0 market. If the Hong Kong government can successfully become a leader in stable currency issuance, it could lead to increased financial stability and promote cross-border transactions. The rollout of a regulatory framework for stable currency would also have a significant impact on the mainstream adoption of blockchain technology globally.

##FAQs

1. What is a stable currency?
A stable currency is a type of cryptocurrency that is pegged to a stable asset, such as a fiat currency like the US dollar or Euro, in order to reduce market fluctuations and price changes.
2. How does a stable currency differ from traditional cryptocurrencies like Bitcoin?
Traditional cryptocurrencies like Bitcoin are extremely volatile in price and considered high risk. Stable currency, on the other hand, aims to be a more stable medium of exchange, since it is pegged to a stable asset.
3. Will other countries follow Hong Kong’s lead in issuing stable currencies?
It’s possible that other countries will follow Hong Kong’s lead in issuing their own stable currencies as more governments begin to explore the advantages of stable currency issuance.