The Hong Kong government has established a dedicated task force for the development of Web 3.0, with Financial Secretary Paul Chan as the chairman

ChainCatcher news, the Hong Kong government has announced the establishment of a dedicated task force for the development of the third generation of the Internet (Web 3.0). The task force is chaired by the Financial Secretary Paul Chan, with 15 unofficial members from relevant industries, as well as representatives from key government officials and financial regulatory bodies. The term of the unofficial members will take effect from July 1, 2023, for a period of two years.

Financial Secretary Paul Chan said: "The blockchain technology behind Web 3.0 features decentralization, security, transparency, and low cost, which can address many difficulties and pain points in finance, transactions, business operations, and even daily life. As an international financial center and a metropolis that values innovative technology, Hong Kong embraces the major trend of Web 3.0 development, actively leading and driving related innovative exploration and development while balancing 'appropriate regulation' and 'promoting development', creating more new application models, and striving to gather top enterprises and talents in this field to build a thriving ecosystem. The task force brings together the elites and professionals from relevant industries, and I believe their valuable insights will help Hong Kong develop into a Web 3.0 hub." (source link)