Tron founder, Justin Sun, observes that Hong Kong increasingly recognizes cryptocurrency technology as a legitimate way to help its economy. As an experiment base, Hong Kong offers a degree of freedom that mainland China doesn’t. Hong Kong is a crucial global financial center and a vital hub for the tech industry, hosting many cryptocurrency start-ups.
He believes that cryptocurrency has become more mainstream, and the central bank is becoming more open-minded in China, making it an ideal place for the country to test its digital currency. For cryptocurrencies to make any headway with banks, governments, or regulators, Justin Sun believes they need to be recognized as legitimate financial instruments rather than just tools for speculation.
Justin Sun also lays out his goals as a philanthropist and entrepreneur, saying he wants to see Hong Kong become like an international financial center again and discusses how blockchain technology can improve government efficiency. He believes it’s essential for cryptocurrency technology to work at solving the problems that traditional institutions would otherwise solve but do so more effectively.
Justin Sun says cryptocurrency is an efficient way to fix corruption and poverty worldwide. He also says crypto could help domestic businesses in China that find themselves struggling economically. Many cryptocurrency exchanges are based in Hong Kong because it’s more conducive to doing business. The Chinese government is also starting to recognize the benefits of blockchain technology, which may increase transparency within the country’s banking and financial sectors. Blockchain technology will also help monitor consumer spending, which is something in which China takes great pride.
Original source to learn more: https://www.hejustinsun.com/