Hong Kong's Cyberport Launches Funding Program for Blockchain and Web3.0 Development

The "Blockchain and Digital Asset Pilot Funding Program" offers up to HK$500,000 for innovative projects, supporting the growth of Hong Kong's digital asset ecosystem.

Summary

Hong Kong Cyberport has initiated the "Blockchain and Digital Asset Pilot Funding Program" to support impactful blockchain projects, offering up to HK$500,000 in funding. The program covers various fields, including tokenization and Web3.0 security, with applications open until August 1. Cyberport endorses the SAR government's Digital Asset Policy Declaration 2.0, highlighting its importance for regulatory clarity in the industry.

Terms & Concepts
  • tokenization: The process of converting rights to an asset into a digital token on a blockchain.
  • stablecoins: Cryptocurrencies designed to maintain a stable value by pegging them to a reserve of assets, such as fiat currency or commodities.
  • Web3.0 security: Security measures and protocols aimed at protecting decentralized applications and networks in the Web3.0 ecosystem.