Hong Kong Government Plans Blockchain Tech Incubation at Cyberport
In his ninth budget speech last week, Hong Kong’s Financial Secretary John Tsang highlighted the Hong Kong government’s plan to foster the utilization of blockchain technology in the city’s financial services industry and incubate such technology at Hong Kong’s Cyberport.
In his speech, Tsang stated:
“Government will encourage the industry and relevant organisations to explore the application of “Blockchain” technology in the financial services industry, with a view to developing its potential to reduce suspicious transactions and bring down transaction costs. The Cyberport will provide training to the industry through its incubation programme to promote relevant technologies for developing more services and products.”