Hong Kong Web3 Industry Faces Up To 100,000-Person Talent Gap Crisis

Key Points:

• Hong Kong Web3 industry is experiencing a significant talent gap, hindering its growth and development.
• Legislative Council member Wu Jiezhuang intends to incubate 1,000 Web3 companies in Hong Kong over the next three years to address the talent gap issue.

Hong Kong Web3 industry faces a talent gap, with only a few possessing the necessary skills. Jiezhuang aims to incubate 1K Web3 companies to tackle this. Relatedly, HK welcomes global exchanges like Coinbase to apply for compliance exchanges.

Hong Kong legislator Wu Jiezhuang’s recent statement regarding the talent gap in Hong Kong’s Web3 industry has brought attention to the limited availability of individuals possessing the necessary skills to contribute to the industry’s growth. According to Jiezhuang, the talent gap is reported to be between 50,000 to 100,000 people, with a scarcity of individuals who possess an international perspective and are familiar with the laws and regulations surrounding Web3.

Jiezhuang, who is also a founding member of G-Rocket, a startup accelerator, intends to attract 1,000 Web3 businesses to Hong Kong over the next three years. Already, more than 400 companies have registered on the platform, and 100 have landed in Hong Kong. With the 10% goal already achieved in just four months, Jiezhuang estimates that the 1,000 Web3 companies goal may be completed by the end of next year.

In related news, Jiezhuang reported that Hong Kong welcomes global crypto exchanges such as Coinbase to apply for compliance exchanges and discuss stock listing plans. He expressed his willingness to provide assistance, citing OKX and Huobi compliance entities’ previous listing on the Hong Kong Stock Exchange.

The Web3 industry’s growth and development are crucial to the future of cryptocurrency, and it is vital to address the talent gap issue. Jiezhuang’s incubation plan is a step in the right direction, and with the platform already attracting hundreds of companies, it is clear that there is a demand for such initiatives. With Jiezhuang’s invitation to global crypto exchanges and his commitment to providing assistance, Hong Kong is positioning itself as a hub for Web3 innovation.

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