TechFlow — Hong Kong's Financial Secretary Paul Chan Mo-po wrote in a blog post on the 27th that Hong Kong is actively seizing opportunities presented by digital entertainment and Web3.0 (the third-generation internet). He noted that Cyberport in Hong Kong has already gathered around 170 digital entertainment companies and over 180 firms related to Web3.0. Under appropriate and prudent regulation, the SAR government will proactively lead and drive the development of these industries.
Chan stated that Web3.0 technology applications extend beyond digital entertainment or virtual assets. The core blockchain technology behind Web3.0—characterized by decentralization, security, transparency, immutability, and low cost—can be applied across finance, commerce, trade, supply chain management, and even daily life, helping resolve many real-world challenges and pain points.
