PANews reported on August 3rd that according to the Hong Kong Wen Wei Po, Hong Kong Democratic Alliance for the Betterment and Progress of Hong Kong Legislative Council member Lam Lam pointed out that ASEAN countries have started to develop Web 3.0. If Hong Kong does not develop it, it will lag far behind. She suggested that the SAR government should develop the digitization and tokenization of real assets (RWA) and formulate and introduce a legal system for the circulation of RWA tokens in a timely manner. She suggested that the implementation of stablecoins denominated in Hong Kong dollars and using multiple assets as collateral should be accelerated, and the Hong Kong dollar stablecoin issued based on multiple assets should be promoted. The vigorous development of the Web 3.0 industry can enable Hong Kong to maintain its position in financial technology and attract more companies in related industrial chains to settle in Hong Kong, including a large amount of funds and related talents, to drive the economy.
