In an exclusive interview with Asia Blockchain Review, Dr. Waishun Lo, Co-chairman of the Hong Kong Blockchain Association, Adjunct Professor of The Chinese University of Hong Kong, and Visiting Professor of Beijing University, expects that with more adoption and application of blockchain in the coming years, Hong Kong is well-positioned to be a financial technology leader in Southeast Asia.

Dr. Lo remains optimistic about blockchain and related technology development, taking strong exception to those who say blockchain is merely a concept with no real-world application. Dr. Lo said that: 

Blockchain is already in use in many large enterprises, including many payment companies, for example.

Dr. Lo added

These may be undisclosed, or have little public awareness for the time being, but we should take a long-term perspective. I believe more interesting blockchain application projects will appear in the future

In the interview, the Professor made clear that his confidence is not merely wishful thinking. “The Hong Kong government is very supportive on science and technology, as well as blockchain” he explained. “For instance, last November’s introduction of a conceptual framework for virtual assets from Securities & Futures Commission (SFC), implying a potentially positive influence on the ‘more regulated’ STO.” Dr. Lo cites.

“Hong Kong is not lag behind other global markets, including the United States, in terms of government’s supportive for blockchain.  As more financial institutions adopt blockchain-based solutions, along with Hong Kong’s position as the largest financial center in Southeast Asia, these advantages will make it extremely attractive to the fintech and its investors,” he added.