Yesterday, Hong Kong’s Financial Secretary, Paul Chan, published a blog post that was very supportive of web3 and the metaverse. And the Hong Kong Monetary Authority (HKMA) released its fintech roadmap aiming to encourage greater use of AI and DLT in the financial sector, particularly by banks.
Mr. Chan’s blog post referred to a recent Web3 event focused on entertainment held by Cyberport, a digital tech ecosystems and business park that’s owned by the Hong Kong government.
He mentioned a few use cases such as farmers digitally tagging their livestock which enables them to track the animals in real time using IoT. Combined with an immutable blockchain, it allows the livestock to be used as collateral for financing.
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