Hong Kong leads Web3 race; China tackles digital divide [Video]

Barely 20 years since its launch, Hong Kong’s Cyberport has recorded astronomical growth, living up to its expectation as the primary driver of the government’s Web3 ideals. Elsewhere, China is pushing for greater collaboration with advanced and developing countries to address the digital divide.

According to a discussion paper released by Hong Kong’s Legislative Council, Cyberport has grown to host over 270 Web3 entities since its inception. It also highlighted Cyberport’s giant leaps while informing the public of the initiative’s progress in Web3 development.

The 14-page report showed that the government-owned commercial hub is now leading Hong Kong’s emerging technology ambitions, supporting the advancement of blockchain technology, artificial intelligence (AI), and Big Data.

The report notes that 270 blockchain firms reside in the hub, three of which are unicorns. These companies are building solutions in smart living, digital entertainment, fintech, and data security “to facilitate the development of a vibrant ecosystem.”

While most of the …