Recently, the world-renowned Chinese media Ta Kung Pao released a series of reports titled "Great Potential for Web3 in the Greater Bay Area". The report comprehensively demonstrated the long-term development potential of digital economic models such as Web3 in the Greater Bay Area under the background of the integrated development of the Greater Bay Area, by combing through the Web3 policies, industry innovation and ecological construction in Hong Kong and other cities in the Greater Bay Area, as well as visiting industry leaders and important industry organizations.

Justin Sun, founder of TRON, is one of the important industry representatives who has long been optimistic about the development of Web3 in Hong Kong, China and the Greater Bay Area. In an interview with Ta Kung Pao, he said that as an international financial center, Hong Kong, China has rich experience in capital operation and international vision, which provides excellent opportunities for innovation in the Web3 field. Regarding the proposal of the Hong Kong CPPCC members to establish an international SME innovation Web3 financing platform in the Guangdong-Hong Kong-Macao Greater Bay Area, Justin Sun believes that the establishment of a financing platform can provide a stable and compliant financing environment for the integration of technological innovation and financial services, and attract more international investors and Web3 startups to enter the market.

Justin Sun emphasized that policy support is the key to successfully building a Web3 financing platform. As an international financial center, Hong Kong's policy environment can serve as a demonstration area to show how to promote the commercial application and expansion of Web3 technology while ensuring compliance. For TRON, Hong Kong's friendly policy environment will greatly promote its business expansion and technology application.

TRON and other world-renowned encryption platforms and blockchain technology companies are actively deploying in the Hong Kong market, committed to promoting Hong Kong to become a global center of financial and technological innovation, and assisting the development of the Guangdong-Hong Kong-Macao Greater Bay Area in the field of Web3.

The following is the original report:

Bay Area web3 has great potential Series 3: Global attention and long-term development of the industry

Since last year, the world's major cryptocurrency trading platforms and blockchain technology companies have begun to deploy related businesses in Hong Kong: cryptocurrency trading platform OKX announced the establishment of a Hong Kong entity and plans to launch virtual asset services in Hong Kong; blockchain solution provider Ripple will cooperate with banks to use the retail version of electronic Hong Kong dollars to demonstrate the equity issuance of tokenized assets; blockchain trading platform Binance has listed Hong Kong concept dollar stablecoins and opened new spot trading pairs; TRON, which is committed to building global Internet and financial infrastructure, is also actively deploying global Web3... These companies are not only looking at Hong Kong's future prospects in the crypto industry, but also value the support for the overall development of the Guangdong-Hong Kong-Macao Greater Bay Area where Hong Kong is located. Therefore, it is an inevitable choice for companies in the industry to actively participate in the construction of Hong Kong's innovative environment and ecology in the field of Web3.

In this year's two sessions, the Metaverse, blockchain, Web3 and other fields became important contents in the proposals of the National Committee of the Chinese People's Political Consultative Conference members from Hong Kong, and it was suggested to "build an international SME innovation Web3 financing platform in the Guangdong-Hong Kong-Macao Greater Bay Area". In an interview, Justin Sun, the founder of TRON, said that as an international financial center, Hong Kong has rich experience in capital operation and an international perspective. By establishing a Web3 financing platform, it can not only promote the integration of technological innovation and financial services, but also provide a stable and compliant financing environment for blockchain projects. "For Web3 innovation platforms such as TRON, this will be a huge opportunity to further expand their business in Asia and even the world through such a platform. The establishment of such a platform will also promote Hong Kong to become an important center for global digital asset management and trading, which will help attract more international investors and Web3 startups."

Justin Sun said that policy support is the key to successfully building a Web3 financing platform. As an international financial center, Hong Kong's policy environment can provide a demonstration area to show how to promote the commercial application and expansion of Web3 technology while ensuring compliance. For Web3 platforms such as TRON, a policy-friendly environment will greatly promote the expansion of their business and the application of technology.

In fact, Hong Kong's status is not limited to its influence as a financial center. Its development in the crypto market can also drive technological and financial innovation in the entire Guangdong-Hong Kong-Macao Greater Bay Area, especially in promoting technological innovation and the application of blockchain technology. For example, blockchain technology can support innovations in multiple fields such as cross-border payments, supply chain management and identity authentication, providing technical support for the economic integration of the Greater Bay Area.

With the mutual promotion and common development between Hong Kong and other cities in the Greater Bay Area, it is very likely that an innovative ecosystem for the Web3 industry will be created, and it will become a global financial and innovation center that is no less than Singapore and Dubai, and jointly promote the long-term development of the industry. "At present, the Asian market is more open in terms of policies than Europe and the United States, and the compliance policies and legislative processes are more transparent and predictable. The benefit of this predictability is that companies can plan their own investment and development strategies. In addition, many professional institutions in Hong Kong are already involved in the encryption industry, and most of them are well-funded. I think Hong Kong may become an important center for the encryption industry, especially in terms of funding, and may even form a trend of Asian headquarters." OKX Global Chief Commercial Officer Jimmy Lai said.

Source: Economic Network

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