EOS Network Foundation Establishes Partnership with the Hong Kong Government

A few days ago, April 9, CEO and founder of the EOS Network Foundation (ENF), Yves La Rose, landed in Hong Kong for his 9-day trip in the city where he’s been set to attend over 20 events. Since his arrival in Hong Kong last week Yves has been working from the EOS Network Foundation’s (ENF) office in the city.

Yves’ mission on this trip has been to engage with potential partners in the city. Also to try and collaborate with the Hong Kong government (officials) in order to find ways in which EOS can be beneficial to them.

The urgency of having a strong presence in the city comes after the recent announcement that the special administrative region of China (Hong Kong) is opening up trading of cryptocurrencies like Bitcoin and Ethereum to retail investors in June. A major development for the Asian region considering that mainland China has effectively banned all crypto-related activities, including trading.

On Wednesday, April 12, Yves La Rose shared on his Twitter that he had a promising meeting that could lead to EOS being integrated into New World Development’s suite of services.

Tweet

New World Development is a Hong Kong-based company that’s focused on property, hotels, infrastructure and services and department stores. New World Development (NWD) is a publicly listed company with the Stock Exchange of Hong Kong (SEHK) since 1972, and generates billions of dollars in revenue each year.

Following the meeting regarding the NWD integration, Yves had a meeting with InvestHK, the department of the Hong Kong government responsible for Foreign Direct Investment, by helping overseas businesses to set up and expand in Hong Kong. The meeting proved to be a fruitful one as the ENF’s VC arm, EOS Network Ventures is said to collaborate with the Hong Kong government.

The collaboration will result in millions of dollars in investments, support, and subsidies being made available for blockchain/Web3 developers in Hong Kong. This will most likely encourage Hong Kong developers to adopt and build on EOS. Great news for the growth of the EOS ecosystem as it tries to find ways to quickly establish itself globally as the leading Web3/blockchain platform for applications and businesses.

The news also comes roughly six months after the ENF announced the signing of a memorandum of understanding with the city of Busan (second largest city in South Korea) to invest in blockchain companies in the city. The partnership between the ENF and the Busan Metropolitan City government, as well as five other VC firms, saw the establishment of a $100 million VC Fund to help further these goals.

With this recent development of a partnership with the government of Hong Kong, the ENF looks to now be actively involved in the growth and adoption of blockchain technology, which puts EOS in a favorable position. As a highly-performant, scalable, and an affordable blockchain option, EOS can drive the ambitious pursuits of Hong Kong, and South Korea’s Busan City, as they aim to be the leading FinTech hubs of not only the Asian region, but also globally.

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Sources

● Great meeting with InvestHK (Tweet)

● ENF Signs MoU with Busan Metropolitan City to Establish Venture Capital Alliance of Busan Blockchain

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