The Web3 Hong Kong Festival: A Journey of Insights and Connections

Hong Kong recently played host to one of the most anticipated events in the digital world – the Web3 Hong Kong Festival. As a participant and observer, Nicole, our founder,  had the privilege of experiencing firsthand the dynamic atmosphere, engaging discussions, and transformative insights that characterized this remarkable gathering. 


Fintech & Digital Economy:

Driving HK’s Growth At the heart of the festival were discussions on the pivotal role of fintech and the digital economy in propelling Hong Kong’s growth trajectory. Mr. Bernard Chan, Under Secretary for Commerce and Development, eloquently articulated how these sectors serve as key drivers, not only fueling tangible aspects such as MICE, tourism, and business promotion but also solidifying Hong Kong’s stature as a global tech hub.

iDEA Launch:

Pioneering Global Connections One of the highlights of the festival was the launch of the International Digital Economies Association (iDEA). Led by visionary leaders such as Amor Maclang and Chia Hock Lai, iDEA aims to establish itself as a global soft landing pad for digital economy businesses across more than 35 countries. With support from over 20 institutions and associations, this initiative promises to forge robust global connections and facilitate cross-border collaborations.

HK’s $62B Fund Commitment: Catalyzing Digital Innovation 

The commitment of a staggering $62 billion fund by the Hong Kong government into web3, AI, and green financing underscores its unwavering dedication to staying at the forefront of digital innovation. Leveraging its rich common law tradition and a steadfast commitment to compliance, Hong Kong is poised to emerge as a hub for the convergence of web2 and web3 technologies, particularly in the realm of payments innovation.

Insights on Partnership in Payments Innovation 

Panel discussions delved into the evolving landscape of payments innovation, offering valuable insights into alternative gateways for web2.5 and web3 applications to collaborate with traditional businesses. A notable highlight was the exploration of partnership/license application via card processing businesses as a viable alternative to direct engagement with banks or financial institutions.

Looking Ahead: 

Embracing the Future The Web3 Hong Kong Festival served as more than just a gathering of minds; it was a convergence of ideas, aspirations, and possibilities. As Nicole reflects on the enriching experiences and meaningful connections forged during the event, this was the great opportunity to represent APAC DAO and the Vietnam Fintech Festival. With excitement and anticipation, APAC DAO and also Nicole eagerly await the next chapter of this journey, eager to continue exploring, learning, and connecting in the vibrant landscape of digital innovation.

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