Chen Chun, an academician of the Chinese Academy of Engineering: Hong Kong is a "sandbox" for the development of Web3.0, which can play a great role

Chen Chun, a member of the Chinese Academy of Engineering and a professor at the School of Computer Science and Technology at Zhejiang University, was invited to the Hong Kong Legislative Council yesterday to discuss topics such as digital economy and Web3.0 development with legislative council members. Chen described Hong Kong as a "sandbox" for developing Web3.0, promoting more innovative application scenarios under risk management, and believed it could play a significant role in the development of China's digital economy. During the exchange, legislative council members Ge Peifan, Wong Ying-ho, Wu Jiezhuang, and Yan Gang were concerned about how various industries in Hong Kong could deepen and broaden the digital economy and what other application scenarios Web3.0 has. Chen said that Web3.0 is the token economy, which can give non-platform participants more voice. Hong Kong is actively promoting the development of the digital economy, and based on its technological facilities and unique advantages, the development of Web3.0 should focus on serving the real economy, promoting application innovation exploration, such as digitizing traditional finance and physical assets, developing digital asset businesses centered on real asset tokenization, improving asset liquidity, reducing transaction costs, and increasing transparency, so that Hong Kong can occupy the position of a digital financial center in the new round of international competition.