CryptoMediaClub
Wednesday, June 25, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

‘Breakthrough growth’ will be driven by Web3: Hong Kong financial secretary

28.08.2023
A A
0
123
VIEWS
ShareShare

Hong Kong’s financial secretary, Paul Chan Mo-po, has reiterated his support for blockchain technology, calling it the next wave of “breakthrough growth” in the digital technology industry.

In an Aug. 27 blog post, Chan wrote that emerging sectors within Web3, such as NFTs, GameFi, Play-to-Earn gaming, and immersive entertainment, are set to lead the next generation of digital entertainment.

“The core blockchain technology of Web3, with its characteristics of disintermediation, security, transparency, immutability and low cost, can be applied in many fields such as finance, commerce, trade, supply chain management, and even daily life.”

Chan’s statements came in the wake of his visit to a three-day blockchain-focused event called the Digital Entertainment Leaders Forum, hosted in Cyberport in Hong Kong.

Cyberport is a 25 hectare, mixed-use tech and multimedia hub which provides grants, funding and office space to a wide range of companies across the tech, digital entertainment and finance sectors.

Notably, Chan mentioned he had allocated an additional $50 million from this year’s budget to Cyberport earlier this year— to help it accelerate the development of a “vigorous” Web3 ecosystem.

Chan noted that Cyberport had already gathered over 180 Web3-related tech companies including startups and fully-fledged exchanges under its roof, highlighting that 20% of the companies have come from overseas.

Related: Hong Kong and Saudi Arabia collaborate on tokens and payments

While China has maintained a hardline anti-crypto stance for nearly half a decade — Hong Kong has released new crypto-friendly legislation to position itself as a global hub for digital assets.

The government of Hong Kong has unveiled a task force dedicated to driving the advancement of Web3. According to a June 30 statement, the group comprises a mix of key government officials and industry participants. https://t.co/Yo9gnUquvI

— Cointelegraph (@Cointelegraph) July 2, 2023

Part of Hong Kong’s ongoing commitment to invest in the megatrend of Web3 development saw the special administrative region create a Web3 task force — to provide recommendations on the sustainable and responsible development of the industry.

On Aug. 3, local crypto exchange HashKey announced that it successfully obtained all of the necessary licenses to begin offering crypto assets to retail investors — becoming the first exchange in Hong Kong soil to expand its business from solely serving institutional investors.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.

AI Eye: Apple developing pocket AI, deep fake music deal, hypnotizing GPT-4

Share9Tweet6ShareSharePin2

Related Posts

TRON Upgrade: Exciting v4.8.0 Proposal Promises Enhanced TRX Blockchain
Blockchain

TRON Upgrade: Exciting v4.8.0 Proposal Promises Enhanced TRX Blockchain

20.06.2025
0

Skip to content

Read moreDetails
Tether CEO Demands Ditching Cloud After Gigantic 16 Billion Password Data Breach

Tether CEO Demands Ditching Cloud After Gigantic 16 Billion Password Data Breach

20.06.2025
Major Leap: Upbit’s Banking Partner Joins Forces for South Korea Blockchain Advancement and Stablecoin Study

Major Leap: Upbit’s Banking Partner Joins Forces for South Korea Blockchain Advancement and Stablecoin Study

13.06.2025
Binance Alpha Spotlights Promising Pundi AI on Early Crypto Platform

Binance Alpha Spotlights Promising Pundi AI on Early Crypto Platform

12.06.2025
Chainlink CBDC Pilot: Pioneering Secure Digital Currency Exchange

Chainlink CBDC Pilot: Pioneering Secure Digital Currency Exchange

10.06.2025
Load More
Next Post
1inch wallet buys $10M in ETH following a $3.7M profit streak in July

1inch wallet buys $10M in ETH following a $3.7M profit streak in July

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

US Justice Department Pursues Return of $13M in Political Contributions Linked to FTX

US Justice Department Pursues Return of $13M in Political Contributions Linked to FTX

8 months ago
Bitcoin Price Recovers After Crypto Black Monday, Economists Suggest Emergency Rate Cuts: Forecast

Bitcoin Price Recovers After Crypto Black Monday, Economists Suggest Emergency Rate Cuts: Forecast

11 months ago
Crypto Analysts are Stacking This VR Token Before it Lists on Exchanges – What Do They Know?

Crypto Analysts are Stacking This VR Token Before it Lists on Exchanges – What Do They Know?

1 year ago
BlackRock’s Bitcoin ETF Surpasses Grayscale’s GBTC to Become the Largest Spot Bitcoin Product

BlackRock’s Bitcoin ETF Surpasses Grayscale’s GBTC to Become the Largest Spot Bitcoin Product

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

US-Listed Chinese Tech Firm Aurora Mobile Announces Crypto Reserve Strategy

Peter Thiel’s Founders Fund Backs $200M Raise for Polymarket at $1B Valuation

Eight South Korean Banks Join to Establish Won-Backed Stablecoin, Plans Two Key Models

ChatGPT Picks The Top 3 Coins To Take Positions in Before End of June 2025

Crypto Price Prediction Today 24 June – SHIB, TON, PEPE

Russian Crypto Mining Chief: Bitcoin Could Hit $130k Before Summer Is Out

Trending

BIS Frames Tokenization as Foundation of Next-Generation Financial System
All news

BIS Frames Tokenization as Foundation of Next-Generation Financial System

25.06.2025
0

The Bank for International Settlements (BIS) is urging central banks to take the lead in transitioning to...

Why Is Crypto Down Today? – June 25, 2025

Why Is Crypto Down Today? – June 25, 2025

25.06.2025
Mastercard Opens Direct Access to Crypto Purchases on DEXs

Mastercard Opens Direct Access to Crypto Purchases on DEXs

25.06.2025
US-Listed Chinese Tech Firm Aurora Mobile Announces Crypto Reserve Strategy

US-Listed Chinese Tech Firm Aurora Mobile Announces Crypto Reserve Strategy

25.06.2025
Peter Thiel’s Founders Fund Backs $200M Raise for Polymarket at $1B Valuation

Peter Thiel’s Founders Fund Backs $200M Raise for Polymarket at $1B Valuation

25.06.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz