A brand new Hong Kong authorities initiative seeks to draw professionals in Distributed Ledger Know-how (DLT) by simplifying the immigration coverage, in response to a press launch revealed August 28.
On Thursday, the federal government of Hong Kong revealed its first Expertise Checklist aimed toward attracting “extremely expert” consultants in 11 completely different fields, together with fintech, DLT, and cyber safety, from world wide. The transfer designates the federal government’s intention to “help Hong Kong’s growth as a excessive value-added and diversified financial system.”
In accordance with the press launch, Hong Kong will facilitate profitable candidates underneath the Expertise Checklist via the High quality Migrant Admission Scheme (QMAS). The QMAS has an annual quota of 1,000 folks. The Chief Secretary for Administration and Chairman of the Human Sources Planning Fee, Matthew Cheung Kin-chung, mentioned:
“The promulgation of the Expertise Checklist is one in every of our main initiatives to boost our aggressive benefits in attracting worldwide abilities, creating cluster results, stimulating the event of native abilities and propelling Hong Kong ahead.”
Whereas Hong Kong continues taking regulatory actions in direction of digital currencies and Preliminary Coin Choices (ICOs), stating that the brand new know-how “comes with dangers,” it appears to have set sights on turning into a world blockchain hub.
Final month, the Hong Kong Financial Authority (HKMA) introduced the launch its personal blockchain commerce finance answer with 21 banks in August, aiming to considerably cut back paperwork, prices, and safety dangers for members.
In June, the HKMA signed a fintech collaboration settlement with the Monetary Companies Regulatory Authority of the Abu Dhabi World Market “to start out a dialogue on the chance to construct a cross-border commerce finance community utilizing [DLT].” That month, Alibaba subsidiary Ant Monetary trialled its first blockchain remittances, sending a transaction in three seconds between its AliPayHK app in Hong Kong and Filipino cost app GCash.
The Hong Kong College of Science and Know-how Enterprise Faculty (HKUST) lately acquired a $20 million analysis grant to enhance the safety capabilities of digital cost methods earlier this month.
Moreover, the HKUST in partnership with the College of Hong Kong are planning to discover blockchain know-how purposes, and talk about the potential of Hong Kong’s transformation into a world fintech hub.