Published on November 16, 2023, 8:15 pm

Hong Kong has recently witnessed the establishment of Web3 Harbour, a non-profit industry association dedicated to creating a “model market” that promotes the long-term development of a decentralized internet. The main objective is to harness the societal and economic benefits offered by blockchain technologies.

The growth of Web3 is occurring at an unprecedented rate, with expectations that it will encompass billions of users and trillions of dollars in value by 2030. However, there are still several barriers hindering its progress, including obscure terminology, insufficient understanding, opaque policies, inconsistent regulations, and varying degrees of leadership conviction.

To address these challenges and accelerate Web3 innovation in Hong Kong, the coordinated community of Web3 Harbour aims to inform policy and regulation. This association consists of various stakeholders, including Web3 builders, investors, users, and leaders. Notably, Gary Liu, co-founder and CEO of Terminal 3 leads as the founding chair along with Lawrence Chu, co-founder and chairman of VSFG serving as the founding vice-chair.

Several esteemed organizations have joined as members of Web3 Harbour. These include AngelHub, Animoca Brands, DLA Piper, Finoverse, FoundersHK, hi.com, HKG DAO, Memeland PwC Hong Kong Stratford Finance Terminal 3 VSFG Web3 Marketing Association and WHub. Additionally InvestHK has expressed support for this initiative.

The primary objective of Web3 Harbour is to establish a pro-innovation and collaborative environment for Web3 development in Hong Kong. The association plans to officially launch community and research activities in July. These activities include regular forums for leadership exchanges,startup pitches,and industry education.

Lawrence Chu emphasizes that while the benefits of Web3 are evident,it requires an inclusive community that can actively promote responsible and sustainable change for its development.

As virtual asset trading and infrastructure continue thriving in Hong Kong,the presence of local organizations like Web3 Harbour becomes crucial in uniting bright minds within the industry. Yat Siu,co-founder and executive chairman of Animoca Brands, asserts that Web3 Harbour will play a significant role in advancing local development in Web3 and the open metaverse.

Minh Do, co-COO of Animoca Brands also expressed enthusiasm for the establishment of Web3 Harbour. The emergence of digital assets has brought endless possibilities for entrepreneurs. By creating a platform that encourages collaboration between startups, investors, business leaders, and regulators, they can collectively address opportunities and challenges associated with this emerging technology.

Karena Belin, co-founder of WHub and AngelHub,supports this initiative wholeheartedly. She believes that by fostering an open ecosystem and driving impactful change,this association will help equip and support Web3 innovators in Hong Kong.

In conclusion, the launch of Web3 Harbour in Hong Kong is an essential step towards realizing the full potential of Web3. With its dedication to fostering collaboration and innovation,this association aims to create a thriving decentralized internet landscape that maximizes the benefits offered by blockchain technologies.

The post HK business leaders form new group to push for Web3 innovations appeared first on FutureCIO.

Share.

Comments are closed.