Hong Kong Police Rolls Out a New Metaverse Platform
As part of its ongoing crypto expansion, Hong Kong is taking strategic steps to prevent any negative fallout. This is underlined by the decision of the cybersecurity unit of the Hong Kong Police Force to establish a metaverse, designed to raise public awareness about new threats and opportunities connected with Web3 and virtual space.
Following a beta-testing phase in May, the CyberDefender metaverse platform has now been unveiled. The introduction took place at a grand event held within a virtual space, which was attended by youngsters, parents, and teachers alike. The event drew a crowd of over 120 people.
The audience was shown three areas of the newly established platform: CyberDefender City, the Web3 Gallery, and a dedicated lecture hall.
Opening Ceremony of the CyberDefender Metaverse Source: сайт уряду Гонконгу
Guest speakers, Eric Yeung (founder of Hong Kong's Esports Association) and Aska Yeung (Chair of Hong Kong's Multimedia Design Association) shared their insights about the business potential of Web3 and the metaverse, career prospects in the NFT industry, and the possible influence of AI-generated art.
Additionally, a keynote was delivered by Ip Cheuk-yu, the Chief Inspector of the Hong Kong CSTCB, who emphasized that the metaverse could be infiltrated by various forms of cybercrime, ranging from unauthorized system breaches, theft, investment fraud to even sexual offenses. He further cautioned that the decentralized nature of Web3, coupled with the use of cryptocurrency, might inadvertently provide a conducive environment for the previously mentioned illegal activities.
Speakers at the Launch of the CyberDefender Metaverse Platform Source: Official Hong Kong Government Website
In response to a recent increase in fraud cases tied to virtual assets, the launch of this platform in Hong Kong is both timely and strategic. The goal is to enhance digital literacy, with a particular focus on teenagers, thereby equipping them for the opportunities and hurdles presented by the digital age.
It's important to note that this event took place on the eve of a significant event slated for June 1. From that date, cryptocurrencies, as well as associated trading and financial transactions, will be officially legalized in Hong Kong. However, this can only take place on specifically licensed platforms. Currently, this legalization does not include stablecoins.
In addition, Hong Kong is moving purposefully towards the introduction of a Central Bank Digital Currency (CBDC). The city's Monetary Authority has recently released a pilot program for a digital Hong Kong dollar (e-HKD). More details about this can be found in our separate article on the website.
Dmytro Litvinko
Author
Has been exploring the enigmas of the crypto industry since 2017, transforming them into accessible narratives. Relies on dark chocolate and nuts as a secret source of energy and inspiration.
