Hong Kong’s Secretary for Financial Services and the Treasury, Christopher Hui, is on a visit Portugal in an effort to promote the Chinese special administrative region’s financial technology.
“The visit aims to promote Hong Kong’s vibrant fintech scene and the latest financial innovations for a sustainable Web3 ecosystem,” the territory’s authorities said in a statement.
The Hong Kong government said that Christopher Hui, who departed on Sunday, intends to promote, during the visit, “the development of the industry and payment through digital assets, payment and the ‘tokenization’ of real-world assets”, the representation of physical assets by digital ones.
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Before returning to Hong Kong on June 8, Hui will also attend various events and receptions in Amsterdam, Madrid and Lisbon to hold bilateral meetings with government leaders and heads of financial institutions, as well as the fintech and business communities.
Web3 or Web3.0 refers to the development of the internet through decentralization, cryptocurrencies, digital assets and blockchain technology.
The blockchain is a decentralized record of transactions, a digital database, which underlies Bitcoin and other cryptocurrencies, but which has the potential to support a wide variety of businesses.
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