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The Establishment of Hong Kong Web3.0 Association and Web3Hub Fund: A Boost for Overseas Web3.0 Companies

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According to reports, the Hong Kong Web3.0 Association was established on the 11th, according to the Hong Kong China News Agency. In addition to relevant associations, Hong Kong wi

The Establishment of Hong Kong Web3.0 Association and Web3Hub Fund: A Boost for Overseas Web3.0 Companies

According to reports, the Hong Kong Web3.0 Association was established on the 11th, according to the Hong Kong China News Agency. In addition to relevant associations, Hong Kong will also establish a Web3Hub fund to support more overseas Web3.0 companies to settle in Hong Kong. The fund will be chaired by the Financial Secretary of Hong Kong, Chen Maobo, and will be managed by a management committee composed of experts from various fields such as fintech, blockchain, and cryptocurrency. The fund will collaborate with institutions such as the Hong Kong Science and Technology Park and the Innovation and Technology Department to provide one-stop services for overseas Web3.0 enterprises. It is reported that the fund has received applications for multiple Web3.0 projects from the United States, Europe, Singapore, and other regions, covering areas such as decentralized finance (DeFi), non homogeneous tokens (NFT), metaverse, and decentralized social media (Dsocial). The fund plans to start investing and supporting these projects in the second half of this year.

Hong Kong to establish Web3Hub Fund, chaired by Chen Maobo

The world of technology and digital innovation has evolved tremendously over the years, leading to the emergence of advanced technologies like blockchain, cryptocurrency, and Web3.0. Hong Kong, as a global financial hub, has not been left behind in this digital revolution. In a bid to support the growth of overseas Web3.0 companies, Hong Kong established the Web3.0 Association and the Web3Hub fund on the 11th of October 2021.

What is the Hong Kong Web3.0 Association?

The Hong Kong Web3.0 Association is a non-profit organization established to support and promote the development of Web3.0 technology in Hong Kong and overseas. The association is made up of relevant stakeholders, including experts from the Fintech, blockchain, and cryptocurrency industries. The association aims to bring together the best minds in the industry to share knowledge and expertise, collaborate on projects, and build a strong and vibrant Web3.0 community.

The Web3Hub Fund

Alongside establishing the Hong Kong Web3.0 Association, Hong Kong will also establish the Web3Hub fund, which will be chaired by the Financial Secretary of Hong Kong, Chen Maobo. The fund will be managed by a management committee comprising experts in different fields like fintech, blockchain, and cryptocurrency. The committee will work closely with institutions like the Hong Kong Science and Technology Park and the Innovation and Technology Department to provide one-stop services for overseas Web3.0 enterprises.

Support for Overseas Web3.0 Companies

The Web3Hub fund is set to provide a boost for overseas Web3.0 companies interested in setting up shop in Hong Kong. According to reports, the fund has already received several applications from Web3.0 projects in regions like the United States, Europe, and Singapore. The projects cut across different areas like Decentralized Finance (DeFi), Non-fungible tokens (NFTs), Metaverse, and Decentralized Social Media (DSocial).

Growing Interest in Web3.0

The emergence of Web3.0 technology has sparked interest in technology enthusiasts across the globe. The technology has promising applications across various industries like finance, gaming, social media, and more. Web3.0 technology is built on a decentralized infrastructure and aims to provide users with more control over their data and digital identities. The technology utilizes advanced concepts like smart contracts, blockchain, and decentralized applications (DApps) to achieve its goals.

Benefits of the Web3.0 Hub Fund

The Web3Hub fund is set to provide several benefits to overseas Web3.0 companies interested in setting up shop in Hong Kong. Some of these benefits include:
– Access to a vibrant Web3.0 community: Companies that set up shop in Hong Kong will have access to a vibrant Web3.0 community through the Hong Kong Web3.0 Association. The association seeks to bring together experts in the industry to collaborate on projects, share knowledge and expertise, and build a strong community.
– One-stop services: The Web3Hub fund will work with institutions like the Hong Kong Science and Technology Park and the Innovation and Technology Department to provide one-stop services for overseas Web3.0 enterprises. This will make it easier for companies to navigate the regulatory and legal requirements of setting up shop in Hong Kong.
– Investment opportunities: The Web3Hub fund plans to invest and support Web3.0 projects in areas like DeFi, NFTs, Metaverse, and DSocial in the second half of 2021. Overseas companies that meet the fund’s criteria will have access to funding and investment opportunities.

Conclusion

The establishment of the Hong Kong Web3.0 Association and the Web3Hub fund is a significant step towards promoting the growth of Web3.0 technology in Hong Kong and overseas. The association seeks to create a vibrant community of Web3.0 experts, while the fund provides support and investment opportunities for overseas Web3.0 companies interested in setting up shop in Hong Kong.

FAQs

1. What is Hong Kong Web3.0 Association?
A: The Hong Kong Web3.0 Association is a non-profit organization established to support and promote the development of Web3.0 technology in Hong Kong and overseas.
2. What is the Web3Hub fund?
A: The Web3Hub fund is a fund established to support overseas Web3.0 companies interested in setting up shop in Hong Kong. The fund is chaired by the Financial Secretary of Hong Kong and managed by a management committee comprising experts in different fields of Fintech, blockchain, and cryptocurrency.
3. What kind of Web3.0 projects will the Web3Hub fund support?
A: The fund will support Web3.0 projects in areas like Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs), Metaverse, and Decentralized Social Media (DSocial).
**Keywords:** Hong Kong Web3.0 Association, Web3Hub Fund, Overseas Web3.0 Companies.

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