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Norman Chan, chief govt 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 growth of the next-generation Web constructed round blockchain, synthetic intelligence and Web of Issues, in response to 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 trade, seek the advice of for the Hong Kong authorities, and develop skills within the sector.The group may even give attention to the monetization of information, digitalization of conventional industries and the tokenization of property, particularly by non-fungible tokens.The nonprofit group contains former high-ranking authorities officers, members from town’s legislative council and know-how entrepreneurs from mainland China.Hong Kong may even launch a Web3Hub fund to draw overseas corporations to town, in response to the report.Hong Kong goals to construct itself into a worldwide hub for the Web3 trade, and has thus far attracted over 80 Web3 corporations 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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