Cyberport CEO Ren Jingxin: Digital currency will become a “smart currency” in the future, and he is optimistic about the Web3 insurance industry

The outgoing CEO of Hong Kong Cyberport, Nicholas Yang, said in a recent interview that the biggest change brought by Web3 is in data, how to fully control the data assets we produce, and the ownership of data assets will change many different applications. Simply put, the landing applications, such as smart contracts, digital currencies are actually a kind of smart contract, and in the future, digital currencies can become smart currencies. In addition, Nicholas Yang also said that in addition to the financial industry and industrial applications promoted by the Hong Kong government, the insurance industry will have good development. On the one hand, with the development of more and more virtual assets, there may be different insurance products to reduce the risk of virtual assets. On the other hand, integrating blockchain technology into the insurance industry process can reduce costs. Cyberport is preparing to launch a Web3 pilot program, which will fund companies to participate in digital asset insurance and other services.