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The leader of the Hong Kong Web3Hub fund has suggested that the Monetary Authority issue digital Hong Kong dollars in the form of “stable currency”

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On April 11th, it was reported that Wu Jiezhuang, co founder of G-Rocket, a startup accelerator, led the establishment of the Hong Kong \”Web3Hub\” fund this week. He stated that he

The leader of the Hong Kong Web3Hub fund has suggested that the Monetary Authority issue digital Hong Kong dollars in the form of stable currency

On April 11th, it was reported that Wu Jiezhuang, co founder of G-Rocket, a startup accelerator, led the establishment of the Hong Kong “Web3Hub” fund this week. He stated that he had proposed to the Hong Kong Monetary Authority to issue digital Hong Kong dollars in the form of “stable currency”, which would help promote future online cross-border transactions and reduce the risk of financial crises. Wu Jiezhuang continued to say that if the Hong Kong government can reinvent itself and become the world’s first official stable currency to be issued with cash support to improve stability, it can avoid bankruptcy and also enter the Web3.0 market with the Hong Kong dollar.

The leader of the Hong Kong Web3Hub fund has suggested that the Monetary Authority issue digital Hong Kong dollars in the form of “stable currency”

I. Introduction
A. Explanation of G-Rocket and its co-founder
B. Overview of the establishment of the “Web3Hub” fund
II. Discussion of stable currency
A. Definition of stable currency
B. Its significance in the online cross-border transactions
III. Proposal for digital Hong Kong dollars
A. Explanation of digital Hong Kong dollars
B. Advantages of digital Hong Kong dollars in reducing financial risks
IV. Reinventing Hong Kong
A. Relevance of stable currency to Hong Kong
B. Importance of Hong Kong government’s innovation in stable currency
V. Conclusion
A. Summary of the article
B. Call to action
# Article:

Hong Kong’s Proposal for Digital Hong Kong Dollars

On April 11th, Wu Jiezhuang, co-founder of G-Rocket, a startup accelerator, made an announcement about the establishment of the Hong Kong “Web3Hub” fund. The fund aims to promote the use of blockchain technology and digital assets in Hong Kong. In his statement, Wu Jiezhuang proposed an innovative solution that he believes would help Hong Kong become a major player in the Web3.0 market – digital Hong Kong dollars in the form of “stable currency.”

What is Stable Currency?

Stable currency refers to a type of cryptocurrency that is pegged to the value of a stable asset, such as the US dollar, gold or even other cryptocurrencies. The main benefit of stable currency is that it is not volatile, unlike other cryptocurrencies. This makes it an ideal medium of exchange and a store of value.

Digital Hong Kong Dollars

Wu Jiezhuang proposed the issuance of digital Hong Kong dollars in the form of stable currency. Digital Hong Kong dollars are a digital version of physical Hong Kong dollars, with the same value and legal status. They can also be used for online transactions and cross-border payments, making them ideal for the Web3.0 market.

Advantages of Digital Hong Kong Dollars

Issuing digital Hong Kong dollars in the form of stable currency comes with multiple advantages. Firstly, it reduces the risk of financial crises by providing stability to the currency. Secondly, it promotes cross-border transactions, making it attractive to investors and businesses. Finally, it strengthens Hong Kong’s position as a global financial hub, increasing its competitiveness in the international market.

Reinventing Hong Kong

If the Hong Kong government can reinvent itself by issuing stable currency, it can become the world’s first official stable currency to be issued with cash support, improving stability and avoiding bankruptcy. Furthermore, it can enter the Web3.0 market with the Hong Kong dollar, giving Hong Kong a competitive edge over other countries.
In conclusion, Hong Kong’s proposal for digital Hong Kong dollars in the form of stable currency has the potential to revolutionize the financial market. It would provide stability to the currency and promote cross-border transactions, making it an attractive option for businesses and investors. If Hong Kong’s government can reinvent itself and become a stable currency issuer with cash support, it will avoid bankruptcy and become a major player in the Web3.0 market with the Hong Kong dollar.

FAQs

1. What is stable currency?
Stable currency is a type of cryptocurrency that is pegged to the value of a stable asset, such as the US dollar, gold or other cryptocurrencies. It is not volatile, making it an ideal medium of exchange and a store of value.
2. What are digital Hong Kong dollars?
Digital Hong Kong dollars are a digital version of the physical Hong Kong dollar, with the same value and legal status. They can be used for online transactions and cross-border payments, making them ideal for the Web3.0 market.
3. What are the advantages of issuing digital Hong Kong dollars in the form of stable currency?
Issuing digital Hong Kong dollars in the form of stable currency reduces the risk of financial crises, promotes cross-border transactions, and strengthens Hong Kong’s position as a global financial hub.

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