Wu Jiezhuang: Hong Kong's stablecoin development will move steadily forward; different industries can try bold experiments combining RWA and Web3.

According to ChainCatcher, Hong Kong Legislative Council member Ng Kit-chung posted on the X platform that he will continue to promote the development of Web3 in Hong Kong. He shared his views on topics including the future of stablecoins and the development of RWA, as follows:

We believe that the development of stablecoins in Hong Kong will not undergo significant changes and will continue to move steadily forward. The Stablecoin Ordinance Bill, passed by the seventh Legislative Council, is the result of a long period of deliberation and discussion. Overall development will align with the actual international and Hong Kong financial environment, proceeding steadily, starting with the local market as a trial, with the goal of developing the international market and leveraging Hong Kong's position as a financial and innovation hub.

RWA (Responsive Web Applications) is a widely discussed topic in both traditional and Web3 industries. Hong Kong has already implemented a regulatory sandbox, which will likely explore the importance of compliant development and the future direction of regulation. It is believed that different industries can boldly experiment with Web3 technologies, which will drive the development of numerous real-world applications.

Developer demand is increasing rapidly. More and more companies involved in Web3 public chains, compliant trading platforms, and underlying infrastructure are establishing operations in Hong Kong. The success of developers is inextricably linked to that of innovation and technology companies, and in the future, this will help the industry build a talent ecosystem, encouraging more developers and professionals to settle in Hong Kong.