According to PANews, Hong Kong legislator Lam Lam from the Democratic Alliance for the Betterment and Progress of Hong Kong (DAB) has emphasized the importance of developing Web 3.0 technologies to keep pace with ASEAN countries. Lam highlighted that failing to advance in this area could result in Hong Kong falling significantly behind. She proposed that the Special Administrative Region (SAR) government should focus on the digitalization and tokenization of real-world assets (RWA) and establish a legal framework for the circulation of RWA tokens in a timely manner.

Lam also suggested accelerating the implementation of a stablecoin pegged to the Hong Kong dollar, which would use a variety of assets as collateral. This stablecoin, based on multiple assets, could help maintain Hong Kong's position in the financial technology sector. The development of the Web 3.0 industry, according to Lam, would attract more companies related to this industry chain to set up operations in Hong Kong, bringing in substantial capital and talent, and thereby boosting the economy.