IOST Participates in Hong Kong Web3 Festival 2023 and meets with Cyberport to exchange on Web3 Ecosystem Development

On April 13, IOST and Cyberport engaged in dialogues to discuss the development of Web3 ecosystem and explore potential collaborations.

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IOST

6 min readApr 14, 2023

The Advancement of IOST Web3 in Hongkong

Presently, Web3 in Hong Kong is undergoing a phase of accelerated growth, revolutionizing traditional business practices and generating challenges and opportunities. In the budget proposal recently announced by the Hong Kong government, HKD 50 million will be allocated to Cyberport to accelerate the development of the Hong Kong Web3 ecosystem. Moreover, Cyberport inaugurated the “Web3 Hub@Cyberport” earlier this year to attract international Web3 startups and talent.

Since its establishment in 2017, IOST has forged a decentralized economic infrastructure characterized by high performance, robust security, transparent governance, ecological integrity, and sustainable development. IOST works with a vast community of developers, with its market influence extending to nearly 30 countries globally and offices in Beijing, Singapore, Tokyo, Seoul, Madrid, Lisbon, and Hong Kong.

Hong Kong’s Web3 industry has achieved noteworthy accomplishments as a financial epicenter. IOST regards Hong Kong as a key component of its ecosystem construction and will seize this critical juncture to connect global resources, place itself at the vanguard of the crypto industry, profoundly cultivate core blockchain technology, integrate and improve ecological construction, and continue to invest in and support Web3 potential projects worldwide.

IOST and Cyberport conducted exchanges on Web3 development

On April 13, IOST and Cyberport engaged in dialogues to discuss the development of the Web3 ecosystem in Hong Kong and explore potential collaboration. Key personnel from Cyberport’s management, IOST’s Chief Business Officer and Chief Marketing Officer, regional leaders from Japan and Hong Kong, OKCoin Japan’s Chief Executive Officer, some representatives of IOST’s top node ecosystem, and Hong Kong compliance consultants participated in the meeting.

Carter, Head of Hong Kong at IOST, shared his perspectives on the future of Web3 in Hong Kong and expressed his eagerness to forge collaboration with Hong Kong’s Web3 industry players in the following three aspects for 2023:

Collaborate with local financial institutions in Hong Kong to jointly advance IOST’s regulatory compliance progress in the region;
Accelerate the localization of IOST and apply its blockchain technology to facilitate Hong Kong’s local Web2 enterprises in transitioning to Web3 while promoting the city’s local projects to the global market;
Implement high-standard screening of exceptional global Web3 projects for incubation through the IOST x BitValue special fund, in accordance with relevant policies, and establish their presence in Hong Kong.

Web3 has landed in Hongkong, and amidst this era of opportunities and challenges, IOST will intensify its communication and cooperation with Cyberport and other industry players to create a more decentralized, secure, and efficient Web3 blockchain operating system, strengthen the core information exchange and resource integration of the science and technology industry, jointly build an innovative, diversified and sustainable “ Web3 Digital Ecosystem Integration Hub”, introduce high-quality Web3 projects to the Hong Kong region, and assist Hong Kong’s local Web2 projects in their Web3 digital transformation and innovative international development.
Carter, Head of Hong Kong at IOST

As a Web3 blockchain operating system, IOST has a large user base, developer community, and ecological partners, especially in the Japanese market. Our cooperation with these teams has lasted for more than five years, and they have further promoted IOST’s development in the Japanese market. At the same time, we also want to take this opportunity to introduce high-quality projects in the IOST ecosystem to Hong Kong to support the international development of Web3 in Hong Kong.
Makoto, Head of Japan at IOST

Over the past two years, I have been committed to delivering blockchain and cryptocurrency education series and training for various companies, Fintech firms, traditional financial institutions, government organizations, and universities in Hong Kong, with the aim of further promoting blockchain knowledge and fostering Hong Kong’s confidence in the cryptocurrency industry.
In the future, I will assist Hong Kong Web2 projects in their compliant transformation to Web3 and provide compliance policies and legal consulting services for various Web3 start-up projects and exchanges in the international market seeking to establish themselves in Hong Kong, helping in their successful entry into the region.
Gilbert Ng, renowned blockchain legal advisor of IOST in Japan and formerly part of the legal counsel at OKX and Huobi

Key partners of IOST in Japan, Overlay, Platinum Egg, and Ginco, also expressed their visions and expectations for joining the Hong Kong market.

The Overlay team has established solid partnerships with the Switzerland government and institutions in other European regions. They hope to join hands with Cyberport to jointly promote the construction of the Hong Kong encryption ecosystem.
Takashi, CEO of Overlay. Overlay, entity in swizerland by Japanese team, compliance-ready token fundraising protocol or IDO for regulated DeFi.

The Platinum Egg team has rich experience in traditional Web2 game development and has a solid user base. They are building a Web3 game platform to attract and assist Web2 users in integrating into Web3 application scenarios. Currently, the Platinum Egg team has registered an entity in Hong Kong.
Nariya, CEO of Platinum Egg. Platinum Egg, IOST Top node partner, Japanese Web3 gaming developer with proven records of Web2 traditional game development.

Web3 infrastructure has a five-year development foundation in the Japanese market. They mainly provide vault services to partners such as exchanges, NFT trading platforms, and financial institutions and assist platforms and users in transitioning to Web3. Ginco has registered an entity in Singapore and has reached deep cooperation with Japanese government agencies. They hope further to expand the Hong Kong market with Cyberport’s facilitation.
Business director at Ginco. Ginco, Japanese №.1 wallet provder and tier one Web3 developer, cooperating with Japanese enterprises.

The “acceleration” of digital economic innovation and development in Hong Kong

In recent years, the Hong Kong Special Administrative Region government has gradually strengthened its support for the progression of the digital economy, promoting the integration and development of traditional industries and the digital economy. This deep integration will bring new opportunities for Hong Kong’s innovative development of the digital economy.

Recently, the Financial Secretary of the Hong Kong Special Administrative Region government, Paul Chan Mo-po, published a blog entry about the development of Web3 and mentioned: “To ensure an innovative development of Web3, we must adopt a strategy that underscores ‘appropriate regulation’ and ‘development encouragement.’

On April 11th, the Hong Kong Web3 Association was officially established, and the Chief Executive of the Hong Kong Special Administrative Region, John Lee Ka-chiu , proclaimed: “The development of Web3 is on a sound basis, and we hope that the Web3 Association can cooperate with the government to accelerate Hong Kong’s development in innovation, technology, and finance.”

About IOST

Backed by significant financial and VC firms such as Sequoia, Matrix, and ZhenFund, IOST is a pioneering decentralized, high-throughput, gas-efficient Proof-of-Believability-powered smart contract platform built to tackle the scalability trilemma once and for all. For this, the concluding ranking from China’s CCID ranked IOST as the best blockchain platform under Basic Technology, better than Ethereum, EOS, and every other smart-contracting platform evaluated by the agency. This is a testament to the quality and ability to roll out a better, innovative product and reflects our genuine desire to be the best in the sphere.

Being one of the public chain leaders in adoption, performance, and utility, IOST remains committed to our mission to unleash the power of blockchain. IOST has an ever-expanding 500,000 members community in over 20 countries, over 400 nodes, a top-tier staking ecosystem, and symbiotic relationships with corporations dotted worldwide.

If you would like to hang out with the IOST community on chat or social media or discuss product development, we have something for everyone:

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