Developing Web3 in Hong Kong: Regulatory Attitude, Flow, and Talent Influx as Key Advantages

On April 10, it was reported that in the round table forum of “Big Wave Washing Sand | Web3 Continuous Entrepreneurs’ Xiangjiang Dialogue”, Liang Hanjing, head of financial technology of Invest Hong Kong of Hong Kong, said that the government’s regulatory attitude, flow and talent influx would become the advantages of developing Web3 in Hong Kong. （ForesightNews）

Head of Financial Technology, Invest Hong Kong of Hong Kong: regulatory attitude, flow and talent influx are the advantages of developing Web3 in Hong Kong

In a recent round table forum entitled “Big Wave Washing Sand | Web3 Continuous Entrepreneurs’ Xiangjiang Dialogue”, Liang Hanjing, head of financial technology of Invest Hong Kong, shared her insights on how the government’s regulatory attitude, flow, and talent influx can greatly benefit the development of Web3 in Hong Kong.

What is Web3?

Before diving into the advantages of developing Web3 in Hong Kong, it’s important to understand what exactly Web3 is. Also known as the decentralized web, Web3 is the next generation of the internet where data is stored and transmitted on a decentralized network that is not controlled by any central authority. This new technology is built on blockchain, which is a digital ledger that records transactions in a way that is transparent, secure, and immutable.
Web3 has the potential to completely transform the current centralized internet by enabling peer-to-peer transactions and removing the need for intermediaries. The decentralized web also offers greater privacy, security, and control over personal data.

Regulatory Attitude

According to Liang Hanjing, the government’s regulatory attitude is one of the key advantages of developing Web3 in Hong Kong. The Hong Kong government has a reputation for being a pro-business regulatory environment that encourages innovation and growth. This is evident in the various initiatives and support programs that the government has put in place to create a favorable environment for startups and entrepreneurs.
In addition, the Hong Kong government has also been proactive in regulating the use of blockchain and cryptocurrencies in the region. The Securities and Futures Commission (SFC) has issued guidelines on initial coin offerings (ICOs), which has helped create a transparent and regulated environment for this new form of fundraising.

Flow

Another advantage that Hong Kong offers is its strategic location as a gateway to China and the rest of Asia. Hong Kong has a well-established infrastructure that makes it easy for businesses to access other markets in the region. This includes a modern transportation network, state-of-the-art telecommunications, and a highly skilled workforce.
Furthermore, Hong Kong has a strong financial sector with a well-developed banking system that is friendly towards blockchain and cryptocurrency transactions. This provides a fertile ground for the growth of Web3 startups that are looking to leverage blockchain technology to disrupt the financial industry.

Talent Influx

The third advantage that Liang Hanjing highlighted is the influx of talent into Hong Kong. Hong Kong is home to a growing number of startups and entrepreneurs who are drawn to the city’s favorable regulatory environment and strong infrastructure. This has led to an increase in the number of talented individuals who are skilled in blockchain development, digital marketing, and other Web3-related fields.
Moreover, Hong Kong is also a hub for international talent. The city’s diverse culture and international connections attract people from all over the world, which creates a highly skilled and diverse talent pool for businesses to tap into.

Conclusion

In conclusion, the development of Web3 in Hong Kong is poised for success due to the government’s regulatory attitude, the city’s strategic location and infrastructure, and the influx of talent into the region. Hong Kong is well-positioned to become a key player in the Web3 revolution and to lead the way in the adoption of blockchain technology in the financial industry.

FAQ

Q: What is the Web3 revolution?
A: The Web3 revolution refers to the shift towards a decentralized web that is built on blockchain technology and removes the need for intermediaries.
Q: Why is Web3 important?
A: Web3 offers greater privacy, security, and control over personal data, and has the potential to completely transform the current centralized internet by enabling peer-to-peer transactions.
Q: What are the advantages of developing Web3 in Hong Kong?
A: Hong Kong offers a pro-business regulatory environment, a strategic location as a gateway to China and the rest of Asia, and an influx of talent that is skilled in Web3-related fields.