Hong Kong Cyberport: Over 100 Web3 Companies Settled In 10 Months And Still Going

Key Points:

• Since the government issued its policy statement on virtual assets at the end of October last year, more than 100 web3 companies have entered Cyberport.
• Most companies’ business is mainly in the application sector, including financial services, life entertainment, and other areas.
• Although Hong Kong’s digitization process is not as good as other countries or regions, Cyberport hopes that Hong Kong can “skip a step” from the initially slow process, such as launching a digital Hong Kong dollar wallet.

According to Ming Pao News, Ren Jingxin, CEO of Hong Kong Cyberport, said that since the government issued a policy statement on virtual assets at the end of October last year, more than 100 web3 companies have entered Cyberport.

This merger has enabled more than 180 Web3 companies to be established. Across the ecosystem, the number of companies continues to grow healthy.

Most companies’ business is mainly in the application sector, including financial services, life entertainment, and other areas. There are more than 20 companies involved in Web3-related technologies, such as data analytics, and more than 10 blockchain infrastructure companies.

Ren Jingxin also said that although most of the new companies joining Cyberport are from abroad, many are Chinese. Since the mainland started to develop blockchain technology very early, but the virtual currency was banned in the mainland in 2018, many people have left the continent to set up companies abroad or join companies in the country to become the leading developers of the technology behind it.

He said that while Hong Kong’s digitization process is not as good as other countries or regions, he hopes that Hong Kong can “skip a step” from the initially slow process, such as launching a digital Hong Kong dollar wallet.

In terms of the metaverse, although less hot than last year, many apps with games and integrated technology, many users have joined. The downturn is also related to the current financial environment.

As a Web3 facility, Cyberport hopes to promote it through different channels while focusing on three aspects of development, including talent training, industry development, and awareness raising. It is expected that it will still take a certain amount of time to achieve mass application of Web3 in the future.

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