According to ChainCatcher, Hong Kong Democratic Alliance for the Betterment and Progress of Hong Kong Legislative Council member Chen Zhongni wrote an article entitled "Enabling the Application Development of Web3.0 in the Financial Industry", in which he pointed out that the Hong Kong government must vigorously develop Web3.0 infrastructure that can support the long-term development of Web3.0.
Hong Kong must actively guide the exploration of innovative combinations of Web3.0 and traditional finance, such as data connectivity between government departments and banks, traditional financial payments and settlements, personal and corporate credit business, supply chain finance, etc., promote the standardization of asset chain protocols, and formulate and introduce the RWA token circulation legal system in a timely manner to promote seamless integration, data sharing and asset transfer between the two ecosystems of traditional finance and virtual assets.
Given that the current mainstream public blockchain platforms have defects in privacy protection and other aspects, Hong Kong should support the research and development of basic blockchain platforms that are secure, privacy-protecting, high-performance, low-cost, energy-saving, compliant, modular and have a global vision. It also needs to invest more resources and technologies to encourage scientific research and innovation, and formulate policies and regulations to provide support for the development of blockchain technology.