Hong Kong's Financial Secretary Paul Chan said that despite market volatility, now is the right time for the city to turn to Web3.
Emphasizing that Hong Kong has the potential to be a major player in the emerging digital economy and is well positioned to take advantage of the opportunities offered by Web3, Chan said Web3 technologies such as blockchain, smart contracts and decentralized finance could potentially transform various sectors, including finance, supply chain management and social governance. Chan said the next phase of development will be on blockchain applications and related technologies that can benefit the economy and existing business models.
Chan said in January that the city would continue to advance the development of Web3 technologies to become a regional center for the sector.
