Animoca Brands' Yat Siu Joins Hong Kong Task Force for Web3 Development
Yat Siu's appointment to the Task Force is a huge step forward for both Animoca Brands and the blockchain gaming sector.
Hong Kong taps Animoca Brands' top dog for Web3 push
Animoca Brands, a leading figure in digital entertainment, blockchain, and gamification, has announced that Yat Siu, its co-founder and executive chairman, has been appointed to Hong Kong's Web3 Task Force.
The Task Force, which consists of 15 non-official members, aims to promote the expansion of Hong Kong's Web3 ecosystem. This Task Force was formed in response to the Government's Policy Statement made in October 2022, which outlined Hong Kong's position on the development of virtual assets. As part of the 2023-24 Budget, the Financial Secretary announced the formation of a Task Force to provide insights on the sustainable and responsible growth of Web3 in the Asian financial hub.
"I am honored to be appointed to the Task Force, and I look forward to contributing to this forward-thinking initiative," said Yat Siu, co-founder and executive chairman of Animoca Brands. "The Task Force firmly establishes Hong Kong as the leading example of a mature and highly modernized economy that embraces the remarkable opportunities presented by Web3, blockchain, virtual assets, and the open metaverse."
Siu also believed that this Task Force would be crucial internationally, not just in Hong Kong. "I believe that the work of the Task Force will help to shape not only Hong Kong but also globally in the adoption of blockchain technologies, particularly in the areas of regulation, ecosystem building, industry development, and talent development."
"[Web3] has the potential to solve many difficulties and pain points encountered in finance, trade, business operations, and even day-to-day life," said Financial Secretary Mr. Paul Chen in response to the Task Force formation.
"Premised on balance between appropriate regulation and promoting development, Hong Kong seeks to lead and drive innovative exploration and development, create more new application models, and strives to draw together top-notch companies and talent in the arena to build a thriving ecosystem. With the Task Force bringing together leaders and professionals in the sectors involved, I believe their valuable advice will help Hong Kong develop into a Web3 hub."