Dominic Kimani
The Hong Kong government will hold its annual fintech event this week to collect public opinions on how retail investors may be granted seamless access to virtual assets.
In an October 31 press release, the Hong Kong government issued a policy statement on the development of virtual assets, setting clear policies and approach towards developing a vibrant ecosystem in Hong Kong.
Hong Kong Annual Fintech Week
The government will host the annual fintech event from October 31 to November 4. The fintech event has brought together more than 300 speakers, including Yat Siu, the CEO of Animoca Brands, Sam Blackman-Fried, the CEO of FTX, and Daniel Pinto, the President and COO of JP Morgan Chase, among others. The event will also attract over 400 exhibitors, over 20,000 physical attendees, and more than 4 million combined views.
The Hong Kong government and regulators anticipate collecting public consultation to establish a proper regulatory framework and raise Hong Kong’s financial status to an international standard.
To demonstrate its commitment and determination to explore financial innovations, the Hong Kong government has launched three pilot projects, including tokenizing the government-backed Green bond, testing its e-HKD, and launching non-fungible tokens.
The government anticipates using those digital pilot projects to test the technological benefits of digital virtual assets and their further applications in the financial markets. Hong Kong government has adopted NFTs for the Hong Kong Fintech Week 2022.
Hong Kong Launches NFT Tickets
Those NFTs will serve as proof of attendance for attendees of the Hong Kong Fintech Week 2022, offering them a digital badge and memento using blockchain technology in celebration of their participation.
According to the announcement, all proceeds from the NFT sales will be used to offer special discounts on tickets for the fintech event next year and early notifications for participation in other Fintech events.
Additional funds will go towards the Fintech Proof-of-Concept Subsidy Scheme, Fintech training programs, and other potential fast-track incubation programs.
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This article was written for Business 2 Community by Dominic Kimani.
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