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Norman Chan, chief government of the Hong Kong Financial Authority from 2009 to 2019, will head the Institute of Net 3.0 Hong Kong, set as much as assist improvement of the next-generation Web constructed round blockchain, synthetic intelligence and Web of Issues, based on a report by Hong Kong China Information Company.
See associated article: Hong Kong monetary secretary eyes Web3 push regardless of market fluctuations
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China Cellular Worldwide, the worldwide enterprise arm of China Cellular, is without doubt one of the founding members of the institute. China Cellular’s chairman and CEO Li Feng will probably be one of many nonprofit’s honorary chairperson.The institute goals to ascertain requirements, facilitate collaboration within the business, seek the advice of for the Hong Kong authorities, and develop skills within the sector.The group may also give attention to the monetization of knowledge, digitalization of conventional industries and the tokenization of property, particularly by way of non-fungible tokens.The nonprofit group contains former high-ranking authorities officers, members from the town’s legislative council and expertise entrepreneurs from mainland China.China Cellular Worldwide Ltd., the worldwide enterprise department of China’s telecommunication big China Cellular, is without doubt one of the founding members of the Institute, and Li Feng, the Chairman and CEO of the corporate, will probably be one of many Institute’s honorary chairmen.Hong Kong may also launch a Web3Hub fund to draw overseas firms to the town, based on the report.Hong Kong goals to construct itself into a world hub for the Web3 business, and has to date attracted over 80 Web3 companies to arrange store within the metropolis, together with these from mainland China the place cryptocurrency buying and selling was banned in September 2021.
See associated article: China state-owned banks flip crypto-friendly in Hong Kong: Bloomberg
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