Hong Kong Blockchain and FinTech Development Review in Asia and Global Market

  • For solidifying Hong Kong Financial Hub and being the leading position in Blockchain Community

HKIBFA Position Paper (Preliminary and Brief Note)

By Hong Kong International Blockchain and Financial Association(HKIBFA)

(Updated: 2018-08-14)

 

 

Executive Summary (Abstract)

 

      • To whom
      • How this is produced
      • General argument for Hong Kong in the industry
      • For what
      • How this can be utilized and taken as reference

 

The Background

 

        1. Rapid Development of Blockchain Technology and its Marketization

        2. Opportunities for Role of Hong Kong in the Global Financial Market and FinTech Innovation

        3. Education Reform with Blockchain and FinTech Ingredient on Curriculum and the Future Workforce in the face of Disruptive Blockchain Technology

 

Understanding Current Hong Kong Position in Blockchain and Fintech

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1. Financial Technology and Blockchain Industry Environment in Asia

        1. ASEAN (Philippines, Malaysia and Singapore, Thailand, Indonesia, Laos and Vietnam)

        2. SAARC (India)

        3. East Asia (Taiwan and Mainland China)

(graphics for stakeholder analysis with descriptions)

 

2. All Stakeholders

        1. Hong Kong Government

        2. Private Companies and SMEs

        3. Listed Companies

        4. Hong Kong Science and Technology Park

        5. Cyberport Hong Kong

        6. Securities and Futures Commission and Monetary Authority

        7. Communities, Associations and Societies

 

3. The Ecosystem

        1. The dynamics and interaction of the stakeholders

        2. Software of the ecosystem such as funding and others

(graphics for stakeholder analysis)

 

4. The Need of Policy Innovation for Market Facilitation

 

The Propositions

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1. The Position of Hong Kong in Financial Technology and Blockchain Industry in Asia

          1. The Greater Bay Area (Hong Kong – Macao – Guangdong Area)
          2. Lok Ma Chau Loop
          3. Asia Pacific and The Belt and Road of Mainland China

 

2. The Re-shape of Position of Hong Kong as Financial Hub in Global Market

 

3. Role and Responsibility of Hong Kong International Blockchain and Financial Association

 

        1. Collaboration with other existing and rising communities and circles of blockchain entrepreneurs, investors and scholars in Hong Kong, Asia and the Pacific

        2. Education and The Future Workforce – A Development of Succession and Market Sustainability with Competitiveness Common learning courses for primary and secondary education

        3. Public Relations and Missions – Reinforcement of Market Attractions in Hong Kong and More Landing of FinTech and Blockchain Businesses in Hong Kong

        4. Media and Public Awareness

        5. Re-think and Develop Serial Impact and Investment Fund for FinTech and Blockchain Related Companies as Healthy and Sustainable Investment Ecosystem

            1. Partnership with Cyberport Hong Kong for Blockchain Incubator and Accelerator

            2. Possible recurrent loop of resources and trained talents to re-invest in education upon successful business in blockchain market

            3. Possible resources for companies displaying and exhibiting the blockchain technology in conventions and summits

        6. Compliance Support and Industry Standard

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The Past Experience and Authoritative Testimony

 

About Hong Kong International Blockchain and Financial Association

 

1) The business nature of the Association:

 

Should be a non-profit organization to promote Hong Kong, China financial enterprises with the blockchain concepts and ideas, promote blockchain technology among financial sectors with early adoption. Work with Cyberport and Science Park to promote Hong Kong as Super -coordinator in the Belt & Road initiatives with latest technology. In this respect, Hong Kong could be the most competitive business and financial hubs in the FinTech world and promoting, representing and safeguarding the interests of the Hong Kong, China business community.

 

HONG KONG International Blockchain and Financial Association Limited (香港國際區塊鏈金融總會) would provide members with the business intelligence and opportunities and broaden the network with Hong Kong, Mainland Chinese and international companies through a wide variety of channels and events in the coming future.

 

Our mission is to promote, represent and safeguard the interests of the financial business community in Hong Kong and China and at the same time provide blockchain technology support, networks, and business services to help the business community to grow.

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2) Our key functions will be:

 

    • Expand financial industry blockchain concepts, political network with local & foreign government officials, consuls general, government advisors to enrich financial business network by mingling with the cream of Hong Kong’s blockchain technology community, financial business community, local, Mainland China and international businesses operating in HK.
    • Broaden international network by meeting with overseas and Mainland delegations, as well as participating in overseas missions to cities in the Mainland and around the world.
    • To promote, represent and safeguard the blockchain interests of the Hong Kong financial business/FinTech community and to consider all questions connected with the blockchain, financial industry, commerce and industry of Hong Kong.

 

 

Desired Outcomes Through the Positions

      1. Encourage support by Hong Kong and Mainland China Governments, and Hence the Facilitation and Collaboration Among Governments in Asia

        1. With formation of task-force and round-table for regular meetings and policy review, market updates and technology exchange

      2. Bringing Up The New Normal of Hong Kong as International Financial Technology Hub

      3. Long Term Encouragement of Youth Entrepreneurship through Disruptive Technology

      4. Refurnishing Hong Kong Socio-Economic Image in the World

      5. Sustainable Market and Economic Growth of Hong Kong

 

Reference

      1. Smart City Blueprint (by Hong Kong Smart City Consortium)

      2. The Smart City Blueprint in Hong Kong (by Office of Government Chief Information Officer