Hong Kong Requires New Management Model for Digital Currency Transactions

According to Odaily, Chen Chun, who previously provided blockchain-themed collective learning for the Political Bureau, stated at the Hong Kong Democratic Alliance Digital Economy Exchange meeting yesterday afternoon that Hong Kong needs a new management model to deal with issues arising from digital currency transactions. Even when using blockchain technology in cyberspace, it is still necessary to ensure its value is reflected in real society. In the information space, to promote production development, it can be unrestricted by real-name systems. However, when it comes to ethical issues, technical means are needed to control risks. The design of the management system needs a braking mechanism. It is very important to establish a sandbox management system when risks may be amplified or reduced through cyberspace. For example, when issuing stable coins, its scale should be limited within a certain range, such as 200 million or 2 billion, and ensure clear management boundaries.