Bitcoin And Cryptocurrencies In Hong Kong

Bitcoin And Cryptocurrencies In Hong Kong

by October 17, 2017

Hong Kong, a shipping and banking hub, is embracing blockchain technology as the city looks to become a leader in fintech.

BItcoin Crypto Hong Kong

Image: Bitcoin via Pixabay

An increasing number of Hong Kong entrepreneurs and policy makers are convinced that blockchain will eventually reshape everything from financial services to supply chains. They believe the city’s hands-off approach towards regulation, along with its expertise in finance and logistics, make it a natural hotbed for blockchain and cryptocurrency development.

Over the past years, Hong Kong’s blockchain and crypto startups scene has demonstrated rapid growth, creating some of the most established startups in Asia such as cryptocurrency exchange platform Gatecoin, global remittance platform BitSpark, and cryptocurrency derivatives trading platform BitMEX.

Hong Kong’s central bank itself is developing its own digital currency and is testing blockchain for trade finance, mortgage applications and e-check tracking.

The upcoming Blockchain Conference Hong Kong, taking place on November 10 at the Renaissance Hong Kong Harbour View Hotel, is the second installment of the annual blockchain event series organized by Fintech Worldwide.

The conference will bring together industry leaders, thought-leaders and policy makers to discuss the future of blockchain as well as the recent developments in the field.


China’s crackdown on cryptocurrencies: an opportunity for Hong Kong?

Beijing China

Image: Beijing China via Pixabay

China, which until September 2017 had been leading the cryptocurrency trading space, was dethrone when the government began cracking down on the industry, banning ICOs and ordering the closure of bitcoin and cryptocurrency exchange platforms.

China’s crackdown on cryptocurrencies has reinforced the case for a hub in Hong Kong, which despite being under Chinese rule still operates its own legal and regulatory systems, according to Aurelien Menant, the founder and CEO of Gatecoin.

“We have received a high number of inquiries from blockchain project founders based in the mainland who would like to list their tokens on our exchange,” Menant told the South China Morning Post.

“With the rumors of a possible tightening on the regulation of exchanges in the mainland, we have experienced a surge in the number of Chinese clients registering on our platform.”

The two-day Blockchain Global Summit was originally expected to kick-off in Beijing on September 10. The event was postponed a few days before its commencement and eventually moved to Hong Kong in the face of the Chinese government crackdown on cryptocurrencies.

As countries like China are tightening their grip on cryptocurrencies, others are quickly emerging as global leaders in the space. Switzerland for instance has embraced the technology and now hosts some of the world’s most innovative startups.

The Crypto Valley Association, an independent, government-supported organization, was established earlier this year to formally represent the thriving sector.

In January 2018, the city of St. Moritz in the Swiss Alps will host the world’s first global Crypto Finance Conference. The event, taking place on January 17, 18 and 19, 2017 right before the annual World Economic Forum, will bring together both private and institutional investors and leading providers of the crypto and blockchain space.

“With its Crypto Valley, Switzerland has taken the lead in the global blockchain landscape,” said Marc P. Bernegger, an organizer of the event and a serial web entrepreneur and fintech investor.

“It just makes sense to organize this first global investor conference in Switzerland. And St. Moritz in the Swiss Alps provide the right atmosphere to this fast-moving community.”

The CFC’18 brings together both private and institutional investors and the leading providers of the crypto & blockchain universe. The 3-day conference offers expert education, investment opportunities, excellent networking opportunities and last but not least a great setting in one of the World’s best ski resorts in the Swiss Alps.

For more information and registration, visit here:

Featured image: Unsplash