Tom Wan, an analyst on the 21co chain, posted on social media X (formerly Twitter) that after visiting the Cyberport Web3 Living Lab, he found that the biggest surprise was the central bank’s digital currency CBDC.
Hong Kong has highlighted the integration and composability of CBDC with Web3, allowing businesses to use eHKD as a payment method, and local banks are building wallets for eHKD.
This may extend Hong Kong support to other tokens (which are likely to be issued by whitelisted entities and will depend on which blockchain they are built on).
However, according to Tom Wan’s analysis, it is exciting for Hong Kong to explore the vision of integrating CBDC and Web3, but it may be surprising if eHKD is really implemented using a permission-free blockchain like Ethereum.
Because according to the list of partners of the CBDC pilot program, all partners except Ripple labs, a cryptocurrency company, are banks and financial technology platforms.