Meet Polygon Projects Helping Hong Kong Become a Web3 Hub

In late May 2023, amid the aftershocks of the FTX collapse and with Terra’s founder still on the run, the Hong Kong government did something unusual. The administrative region’s Securities and Futures Commission said it will allow retail trading of cryptocurrencies.

Since then, Hong Kong regulators have licensed several crypto exchanges, put forward a framework for a stablecoin regime and are developing an approach to security token offerings. It’s no surprise then that the Asian metropolis has emerged as one of the regional hubs of Web3 activity.

The Polygon community has been very active in Hong Kong, and we’d like to highlight some of the recent events and projects in this blog.

Hong Kong FinTech Week NFT Drops

Aftermint, a Web3 social platform, dropped an NFT crafted by Goods of Desire exclusive to the attendees of Hong Kong FinTech Week. The NFT, minted on the Polygon PoS network, is more than just a collectible and serves as a gateway to tangible benefits across Hong Kong at a number of restaurants, bars and shops citywide.

Not to be outdone, the Hong Kong Monetary Authority (HKMA) released a collection of its own, celebrating the agency’s 30-year anniversary. There are only 1,000 NFTs minted and some might still be available at their counter at the convention center. Imagine the U.S. Fed doing a PFP drop on Polygon PoS… One day!

HSBC Experiments With Decentralized Identity 

Amazing as it is, the Internet wasn’t built with digital identity in mind. Web3 promises a digital identity that comes with privacy, portability and composability built-in. HSBC, one of the largest banking and financial services institutions in the world, has been exploring internal uses of decentralized identity. On stage at Hong Kong FinTech Week, HSBC team did a live demo of a prototype using Polygon ID, the self-sovereign, decentralized and private identity for the next iteration of the Internet.  

Read more: Why HSBC is Building a Decentralized Identity Solution With Polygon ID

Animoca x AWS Hackathon

Animoca Brands, Amazon Web Services (AWS) and Polygon Labs are collaborating to empower builders through a hackathon centered on the Mocaverse platform. Key hackathon tracks include Web3 Identity, Web3 Social and Web3 Growth, with the goal of elevating Mocaverse as the premier platform for Web3 loyalty programs. 

The inaugural cohort of this accelerator program will focus on building and extending Mocaverse's ever-expanding ecosystem, centering around the recent launch of Moca ID and Realm Points on the Polygon PoS network. The program’s first hackathon will task builders and projects to devise protocols that utilize and grow the Moca ID on-chain identity ecosystem, and integrate Realm Points as integral assets. Came back here in a bit for info on how to apply.

AWS x Cyberport POC program

Cyberport, AWS and Polygon Labs have teamed up to help companies make their Web3 debut. As part of the enablement program, AWS will provide cloud resources, tailored Web3 business and technical advisory and proven solution recommendations to make it possible to launch a Web3 campaign in under 60 days. AWS will also work with Cyberport and Polygon Labs to offer go-to-market promoting opportunities to help those companies to maximum market and community exposure.

Cyberport and AWS are also inviting startups to nominate their Web3 solutions for corporations to trial. Those selected will get an opportunity to showcase their solutions and have their products selected for use in Web3 campaigns. To apply for the enablement program, sign up here. Startups with Web3 offerings can sign up here.

Polygon Co-Founder’s Keynote at CVCF2023

Polygon co-founder Sandeep Nailwal gave a keynote presentation at Cyberport Venture Capital Forum on the subject of Web3 and AI. The speaker lineup also included Hong Kong Cyberport Chairman Simon Chan, Secretary for Innovation and Technology of Hong Kong Dong Sun and futurist Rohit Talwar.

If you are working on a Web3 project in Hong Kong, reach out to us here. Tune into the blog and our social channels to keep up with updates about the Polygon ecosystem.

Together, we can build an equitable future for all through the mass adoption of Web3!

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