The Hong Kong government established the Web3.0 Development Task Force, chaired by Financial Secretary Paul Chan

Babbitt News, on June 30, the Hong Kong government announced the establishment of the Third Generation Internet (Web3.0) Development Task Force. The task force is chaired by the Financial Secretary Paul Chan Mo-po, and its members include 15 non-official members from relevant industries, as well as representatives of relevant key government officials and financial regulators. Non-official members will serve for a two-year term commencing July 1, 2023.

Financial Secretary Chen Maobo said: "The blockchain technology behind Web3.0 has the characteristics of disintermediation, security, transparency and low cost, and can solve many difficulties and pain points in finance, transactions, business operations and even life. As As an international financial center and a metropolis emphasizing innovation and technology, Hong Kong embraces the general trend of Web3.0 development. On the premise of balancing “appropriate supervision” and “promoting development”, it actively leads and drives related innovation exploration and development, and creates more New application models, and strive to bring together top companies and talents in this field to build a thriving ecosystem. The task force brings together relevant industry leaders and professionals. I believe their valuable opinions will help Hong Kong develop into a Web3.0 hub .”