“Web3, the next iteration of the internet, has been highlighted by the Financial Secretary of Hong Kong, Paul Chan Mo-po, as a main propeller for global technology growth. Chan supports blockchain technologies, non-fungible tokens, GameFi, Play-to-Earn gaming, and immersive entertainment as the driving forces for this digital innovation wave.”
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Singapore’s Web3Go: Seizing the Crypto Universe with $4M Seed Funding and AI Unison
“Singapore-based blockchain startup Web3Go raised $4 million in seed funding, largely supported by Binance Labs. The firm is preparing to launch its native asset creation platform which addresses the personalized needs of content creators in the digital universe, paving the way for the Web3.0 revolution.”
Hong Kong’s Web3 Regulation: Balancing Innovation and Investor Protection
Hong Kong embraces Web3 regulation by incorporating virtual asset providers into the regulatory system, fostering innovation and strengthening market trust. New rules enforce Anti-Money Laundering guidelines and investor protection laws while permitting retail investors to trade virtual assets.
IMF’s Role in the Future of CBDCs: Pros, Cons, and Global Regulatory Debate
The IMF is working on a global infrastructure for interoperability between central bank digital currencies (CBDCs) to prevent underutilization. Meanwhile, France’s AMF advocates globally coordinated rules for DeFi, and Ethereum developers consider raising the maximum validator balance for network efficiency.
Hong Kong’s Crypto Surge: Analyzing Benefits, Risks, and the Role of Government Support
Hong Kong’s government has invested $7 million in accelerating Web3 development, attracting 150 Web3 firms to Cyberport, its digital innovation hub. As the government aims to build a strong crypto and fintech ecosystem by 2023, addressing potential risks and challenges posed by such innovative technologies is crucial for ensuring security and stability.