### Hong Kong's Financial Secretary, Paul Chan, recently declared that now is the right time to push forward Web3 technologies, despite the recent volatility in the crypto market. Chan highlighted Web3 technologies as one of the three priority areas he considered while developing Hong Kong's budget.

Chan also noted that education and awareness of Web3 in Hong Kong is rapidly increasing, and the country is actively working to foster an environment for its growth.



Globally, things are moving ahead with the adoption of Web3 and crypto, as it has become a global asset class, not specific to the United States. Despite the headwinds faced by the crypto market recently, Chan believes that it will continue to flourish and grow. Although there may be some slowing down in certain areas, especially in the US, disruption is happening.



Web3 technologies, which are built on blockchain and aim to create decentralized systems, have the potential to revolutionize industries beyond finance, including supply chain management, healthcare, and more. With Hong Kong's focus on education and awareness, coupled with a commitment to advancing Web3 technologies, it seems the city is poised to lead the charge in the adoption of these transformative technologies.

Hong Kong's Financial Secretary, Paul Chan, recently declared that now is the right time to push forward Web3 technologies, despite the recent volatility in the crypto market. Chan highlighted Web3 technologies as one of the three priority areas he considered while developing Hong Kong's budget.

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Sun Apr 23 2023 Hong Kong Goes All In: HK Financial Secretary Says Web3 Technology Ushers A New Era Of Innovation

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Sun Apr 23 2023

Hong Kong Goes All In: HK Financial Secretary Says Web3 Technology Ushers A New Era Of Innovation