It’s a good time to be involved in digital assets in Hong Kong. In the territory’s 2016-17 budget, Financial Secretary John Tsang laid out a plan for the government to support blockchain technology development by encouraging its application in financial services, including reducing suspicious transactions and bringing down transaction costs.
The 2016-17 budget aims to support 150 fintech startups over the next five years in Hong Kong Island’s Cyberport, and arrange for 300 students to train in fintech overseas. It will also provide training for the financial services industry in blockchain matters and promote relevant technologies to develop products and services.
As Hong Kong’s government takes positive steps to foster blockchain technology and wider fintech incubation, Bitcoin Magazine spoke to ANX International’s CEO Ken Lo to get his perspective on the benefits to adopting blockchain technology and recent developments in Hong Kong.
ANX International is at the center of the innovation in Hong Kong’s digital assets ecosystem, offering a one-stop shop for blockchain development. As well as carrying out coin development, building white label trading platforms in primary and secondary markets, and integrating digital currencies into debit cards, ANX is pioneering the use of the blockchain in compliance.
While the regulators are proactively encouraging blockchain technology, do you feel that banks and financial services firms are sufficiently aware of the cost savings available from adopting this technology?
Blockchain is still very new and perceived as risky by many banks and financial services firms. In the past year, these institutions have done their research and are now aware of the benefits of blockchain technology.
This is really where ANX excels, as we have been helping companies realize and implement the benefits of blockchain technology for over two years now. We are the only one-stop shop for institutions and businesses to be able to get […]
