Odaily News: The Hong Kong government has announced the establishment of a dedicated task force for the development of Web3.0. The task force will be chaired by Financial Secretary Paul Chan, and will consist of 15 non-official members from relevant industries, as well as representatives from key government officials and financial regulatory bodies. The term of the non-official members will take effect from July 1, 2023, and last for two years.



Financial Secretary Paul Chan stated, "The blockchain technology behind Web3.0 possesses the characteristics of decentralization, security, transparency, and low cost, which can address many difficulties and pain points in finance, transactions, business operations, and even daily life. As an international financial center and a metropolis that values innovative technology, Hong Kong embraces the major trend of Web3.0 development. With a balanced approach of ‘appropriate regulation’ and ‘promoting development’, we actively lead and drive innovative explorations and development in this field, create more new application models, and strive to gather top companies and talent in this field to build a thriving ecosystem. The task force brings together leaders and professionals from relevant industries, and I believe their valuable input will help Hong Kong become a hub for Web3.0."