On June 30, the Hong Kong government announced the creation of a task force to promote the development of Web3. This is stated in the press release.
The group began work on July 1. It consists of 15 experts from various market sectors and is chaired by Hong Kong Financial Secretary Paul Chan along with experts from financial regulators and representatives of the government of the administrative area.
The main task of the task force experts is to provide recommendations for the sustainable development of Web3 in Hong Kong.
“The blockchain technology underlying Web3 is disintermediated, secure, transparent and low cost,” said Paul Chan.
In his opinion, these features will help solve many of the difficulties that arise in finance, trade, business transactions and everyday life.
Recall that in January 2023, Paul Chan announced the desire of the jurisdiction to accept companies from the crypto industry from around the world.
In April, the Hong Kong Financial Secretary confirmed the course to further develop and promote the Web3 ecosystem.
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