In a call for action for a bigger investment to accelerate the development of the blockchain infrastructure, the web3 Harbor group and the accounting firm PwC Hong Kong published on Monday the “Hong Kong web3 Blueprint”, capitalizing on the recent momentum in the city.
Stressing the “transparency, security and empowerment of users” of decentralization, the plan seeks to take advantage of what he calls “web superpowers” thanks to the development of “five key catalysts”: talent, market infrastructure, standards, regulations and financing and economic contribution. He calls on participants to focus on open finances, trade financing, capital markets, asset management and carbon markets.
The report has been set up with contributions from web port members and other industry stakeholders. Web president Harbor, Gary Liu, formerly CEO of The Post, said that private private public collaboration was among its objectives, but it was mainly a guide to find out where the private sector should concentrate its efforts.
“It is us, having what the private sector will be concentrated on so that web3 technologies and virtual or decentralized assets are really part of the financial infrastructure here in Hong Kong,” said Liu.
The stablecoins keep their stable value by being fixed to a reference asset, generally supported one by one with a fiduciary currency such as the US dollar.
