Aiming to “develop the industry,” Hong Kong wants to promote the advancement of the Internet through decentralization, cryptocurrencies, digital assets and blockchain technology.
Hong Kong Treasury and Financial Services Secretary Christopher Hui will visit Portugal to promote financial technology in the Chinese special administrative region.
“The visit aims to promote the vibrant ‘fintech’ scene [tecnologia financeira] of Hong Kong and the latest financial innovations for a sustainable Web3 ecosystem,” the territory’s authorities said in a statement, adding that Christopher Hui left on Sunday night to visit the Netherlands, Spain and Portugal.
Web3 or Web3.0 refers to the Internet development through decentralization, cryptocurrencies, digital assets and blockchain technology..
The “blockchain” is a decentralized record of transactions, a digital database, underlying Bitcoin and other cryptocurrencies, but which has the potential to support a wide variety of businesses.
The Hong Kong government said Christopher Hui intends to promote, during his visit, “the industry development and payment through digital assetspayment and the ‘tokenization’ of real-world assets”, the representation of physical assets by digital assets.
The secretary will hold bilateral meetings with government leaders from the three countries, according to the same note.
Before returning to Hong Kong on June 8, Hui will also participate in several events and receptions in Amsterdam, Madrid and Lisbon to meet with leaders of financial institutions, as well as the business and fintech communities.
Source: Observadora
