Hong Kong Web3 Industry Faces Up To 100,000-Person Talent Gap Crisis

Hong Kong legislator Wu Jiezhuang’s recent statement regarding the talent gap in Hong Kong’s Web3 industry has brought attention to the limited availability of individuals possessing the necessary skills to contribute to the industry’s growth. According to Jiezhuang, the talent gap is reported to be between 50,000 to 100,000 people, with a scarcity of individuals who possess an international perspective and are familiar with the laws and regulations surrounding Web3.

Hong Kong legislator Jonny NG said that Hong Kong’s Web3 industry talent gap is about 50,000 to 100,000 people. Talents with an international perspective, who are familiar with laws and regulations, and who understand Web3 are absolutely scarce. He hopes to incubate 1,000 Web3…

— Wu Blockchain (@WuBlockchain) June 11, 2023

Jiezhuang, who is also a founding member of G-Rocket, a startup accelerator, intends to attract 1,000 Web3 businesses to Hong Kong over the next three years. Already, more than 400 companies have registered on the platform, and 100 have landed in Hong Kong. With the 10% goal already achieved in just four months, Jiezhuang estimates that the 1,000 Web3 companies goal may be completed by the end of next year.

In related news, Jiezhuang reported that Hong Kong welcomes global crypto exchanges such as Coinbase to apply for compliance exchanges and discuss stock listing plans. He expressed his willingness to provide assistance, citing OKX and Huobi compliance entities’ previous listing on the Hong Kong Stock Exchange.

I hereby offer an invitation to welcome all global virtual asset trading operators including @coinbase to come to HK for application of official trading platforms and further development plans. Please feel free to approach me and I am happy to provide any assistance. pic.twitter.com/bcIi1IjMlc

— Johnny Ng 吴杰庄 (@Johnny_nkc) June 10, 2023

The Web3 industry’s growth and development are crucial to the future of cryptocurrency, and it is vital to address the talent gap issue. Jiezhuang’s incubation plan is a step in the right direction, and with the platform already attracting hundreds of companies, it is clear that there is a demand for such initiatives. With Jiezhuang’s invitation to global crypto exchanges and his commitment to providing assistance, Hong Kong is positioning itself as a hub for Web3 innovation.

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