Hong Kong Can Serve Global Community through Web 3 Involvement: Ex-Financial Secretary

blockchain.news:

The former financial secretary of Hong Kong said Wednesday that the virtual economy would be important to Hong Kong, encouraging the young generation to be active through web 3 involvement and technology adoption.

Speaking at an online forum of Yahoo Finance All Markets Summit Extra Asia on Wednesday, John Tsang Chun-wah shared about his career in the virtual economy sector after stepping down as the financial head of the HKSAR’s administration.

With the rising trend of Web 3, the involvement of the Metaverse and the adoption of technology, “We are still at the early stage of technology of J curve for many areas, like AI or blockchain and so forth. But don’t expect a smooth transition at a leisurely pace; it’s more like a step function. In time, it might be a sort of like quite stable while it’s just get disrupted and jumped quite a few levels,” said Tseung, suggesting a mindset of globalisation would be a key element for the next generation to prepare the future of Web 3.

Tsang, also known as “Choi Yeah”, referring to the “Wealth God” in Chinese culture, has shown interest in non-fungible tokens (NFTs) and their applications, believing this kind of digital asset would be valuable in the next generation.

The former finance executive also recently participated in an NFT project by using his personal image to explore its potential value. Tsang also serves as an advisor for young entrepreneurs related to virtual insurance and digital wealth firm in the private sector.

By issuing free “Choi Yeah” NFTs to people, Tsang hopes that the minting of the NFTs can raise awareness and interest in the public “beyond the use of a speculative tool.”

“The intention of mine is simple. To (us), we are going through a difficult period here