In a blog post, Chan highlights blockchain as a technology that can be integrated in virtually any industry for overall advancement
Hong Kong, one of the Chinese special administrative regions, is one of the governments taking a proactive role in positively regulating their crypto sector- a move greatly applauded by crypto enthusiasts around the world. So far, the Hong Kong administration has established a specific task force for ethically promoting web3 development in the region; the task force is said to contain 11 key government officials and 15 web3 industry participants. Further, the Securities and Futures Commission (SFC) in Hong Kong has implemented a crypto licensing regime to protect all market participants.
As part of the latest web3 developments in Hong Kong, now the financial secretary Paul Chan Mo-po emphasises his support for blockchains. Notably, he calls it the next wave of immense growth for the host of emerging digital technologies.