Looking at Hong Kongs blockchain chess game from Li Xiaojia

5 years ago
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Its time for Hong Kong to act!

Looking at Hong Kongs blockchain chess game from Li Xiaojia

Hong Kong, once the financial center of Asia, is a model of globalization that people talk about. With the slowdown of global economic development in recent years, it has been greatly impacted and affected. As one of the key technologies of financial technology, blockchain is of great importance to Hong Kong, which is looking for a technological breakthrough with finance at its core.

Today (February 28), the Hong Kong Stock Exchange announced the Strategic Plan 2019-2021. In this three-year plan, the blueprint for the development of HKEx in the next three years is outlined.

Li Xiaojia, President of HKEX, pointed out in his interpretation of HKEXs Strategic Plan 2019-2021 that in the future, HKEX will accelerate the pace of innovation of core systems and improve the efficiency of market operations on the premise of ensuring the smooth operation of the market. In terms of the use of new technologies, the Hong Kong Stock Exchange will gradually explore the application of new technologies including blockchain and cloud computing through pilot projects. Blockchain technology.

At present, the development momentum of the blockchain is getting stronger and stronger, and embracing the blockchain is much like embracing the Internet back then. February 28,China Internet Network Information Center (CNNIC) released the 43rd Statistical Report on Internet Development in China. The report pointed out that as of June 2018, the number of blockchain companies in the United States, China, and the United Kingdom ranked the top three. A total of 298 companies are active in the blockchain industry ecology in my country. The top five cities in the number of blockchain companies are Beijing, Shanghai, Shenzhen, Hangzhou, and Guangzhou, of which Beijing ranks first with 175 blockchain companies. In 2017, the Hangzhou government planned to build a Blockchain City. This move was based on the 10 Block Chain policy packages issued by Guangzhou Huangpu District and Development Zone. In April 2018, the China Hangzhou Blockchain Industrial Park, consciously occupying an active position, actively guiding the development of the industry, and seizing the commanding heights.

Domestic mainstream first-tier cities have entered the blockchain one after another. Abroad, in 2014, the United States has begun to think about cryptocurrency supervision strategies. The SEC (US Securities and Exchange Commission) has repeatedly held dialogues with the cryptocurrency world. In recent years, the SEC has approved the STO project, New York The approval of the stable currency issuance by the Financial Bureau is closely related to years of research. In Singapore, the blockchain Sandbox mechanism launched in 2016 has played a role, and more than 200 Chinese companies have landed in Singapore.

Under the pressure of internal and external attacks, whether Hong Kong can take the lead in seizing the high ground and become a blockchain city to achieve another leap has become the focus of all parties attention.

In fact, Hong Kong has previously maintained a cautious attitude towards cryptocurrencies and exchanges with financial attributes. There are even constant remarks pointing out that Hong Kongs attention to blockchain does not match its financial status as other cities continue to deploy.

Until November 1, 2018, the Hong Kong Securities Regulatory Commission issued a new regulation for virtual assets - Statement on the Regulatory Framework for Management Companies, Fund Distributors and Trading Platform Operators for Virtual Asset Portfolios, officially regulating digital assets. The market speaks. Opening the road of regulatory development has also officially started a new round of clarion call.

Some voices pointed out that this seems to be a regulatory policy, but in fact, Hong Kong has accepted cryptocurrencies and their exchanges. There are even comments that Hong Kong has since become a digital currency port and can once again be on an equal footing with London and New York.

In fact, on November 2, 2018, Li Xiaojia revealed that the Hong Kong Stock Exchange is creating a blockchain system that will be integrated into the Shanghai-Shenzhen-Hong Kong Stock Connect. Today, Li Xiaojia once again emphasized this point in the Strategic Plan 2019-2021, which shows that Hong Kong is expected to use the Shanghai-Shenzhen-Hong Kong Stock Connect to seize the trend of Blockchain City.

Li Xiaojia also said that the Hong Kong Stock Exchange will cooperate with the mainland to trade in the northbound trading of Shanghai-Hong Kong Stock Connect, or introduce a blockchain clearing system. In addition, according to the Hong Kong Economic Daily, the Hong Kong Stock Exchange will launch a new three-year strategic plan next year. Li Xiaojia said at the forum that the Hong Kong Stock Exchange hopes to innovate and will start investment and comprehensive reform in the future, not only in regulatory rules, but also in Exchange business innovation, including considering research on automating procedures, experimenting with blockchain technology, and also considering establishing the worlds first data exchange for the first time.

Analysts pointed out that a series of policies and geographical advantages show that Hong Kong is becoming a hot spot for the development of the blockchain industry, and the strong development of financial technology will help Hong Kong take off again.


Reference article:


The Inflection Point of Hong Kongs Leap Again - Blockchain

Original article, author:王也。Reprint/Content Collaboration/For Reporting, Please Contact report@odaily.email;Illegal reprinting must be punished by law.

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