Chen Chun, Academician of the Chinese Academy of Engineering: Hong Kong is a "sandbox" for the development of Web 3.0, which can play a great role in the development of China's digital economy

Chen Chun, an academician of the Chinese Academy of Engineering and a professor of computer science and TechAcademy at Zhejiang University, was invited to the Hong Kong Legislative Council yesterday to communicate with members of the Legislative Council on topics such as digital economy and Web 3.0 development. Chen Chun described Hong Kong as a "sandbox" for the development of Web 3.0, and it is believed that it can play a great role in the development of China's digital economy by promoting more innovative application scenarios under risk management. During the exchange session, Legislative Council members Ge Pei Fan, Huang Yinghao, Wu Jiezhuang, Yan Gang and others paid attention to how various industries in Hong Kong can deepen and expand the digital economy, and what other application scenarios of Web 3.0 are available. Chen Chun said that Web 3.0 is the token economy, which can give non-platform internal participants more voice over. Hong Kong is actively promoting the development of the digital economy. Based on Hong Kong's technical facilities and unique advantages, Web 3.0 development should mainly serve the real economy and promote application innovation and exploration. For example, digitize traditional finance and physical assets, develop digital asset business with real asset tokenization as the core, improve asset liquidity, reduce transaction costs, and improve transparency, so that Hong Kong can occupy the position of digital financial center in the new round of international competition.