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Ex-chief of HKMA Heads Hong Kong’s New Web3 Institute

Norman Chan, former chief executive of the Hong Kong Monetary Authority, will head the Institute of Web 3.0 Hong Kong, a nonprofit organization established to facilitate Web3 development in the city. China Mobile International is one of the founding members of the institute, which aims to establish standards, facilitate collaboration in the industry, consult for the Hong Kong government, and develop talent in the sector. The organization will also focus on monetizing data, digitalizing traditional industries, and tokenizing assets through non-fungible tokens. Hong Kong aims to build itself into a global hub for the Web3 industry and has attracted over 80 Web3 firms to set up shop in the city.

(By TOM ZUO)

Hong Kong Web3
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