Category: MIL-OSI

Source: Hong Kong Government special administrative region

The following is issued on behalf of the Legislative Council Secretariat:
 
     The Legislative Council Subcommittee on Issues Relating to the Development of Web3 and Virtual Assets visited the Hong Kong Web3 Festival being held at Hong Kong Convention and Exhibition Centre today (April 7) to gain insight into the latest developments in Web3 technology and cryptocurrency.
 
     The Hong Kong Web3 Festival is one of the largest global Web3 events, connecting industry leaders to engage in keynote speeches and discussions, with a view to driving innovation and co-operation. Members received a briefing from representatives of the Hong Kong Web3 Festival on the key features of various stages, which had themes including blockchain infrastructure, crypto finance, as well as Web3 security and compliance, facilitating exchanges among members of the industries.
 
     During the visit, Members also exchanged views with industry representatives on how to further promote the development of Web3 in Hong Kong.
 
     Members who participated in the visit were the Chairman of the Subcommittee, Dr Johnny Ng, Subcommittee members Ms Elizabeth Quat, Mr Lam San-keung, Mr Duncan Chiu, and Mr Edmund Wong.

Source: Hong Kong Government special administrative region

     The Financial  Secretary, Mr Paul Chan, will meet the media at around 6.15pm today (April 7) at the lobby of the West Wing, Central Government Offices (CGO), 2 Tim Mei Avenue, Tamar. Media coverage is invited.

     Media representatives are advised to proceed to the venue through the Press Entrance on the ground floor of the East Wing of the CGO.  

Source: Government of India

Posted On: 07 APR 2025 2:33PM by PIB Hyderabad

The UNESCO Regional Office for South Asia, in collaboration with the Union Ministry of Electronics and Information Technology (MeitY) and Ikigai Law as the implementing partner, will be organizing a stakeholder consultation on the AI Readiness Assessment Methodology (RAM) in India. This event will take place on April 8, 2025, at 1:30 PM, at T-Works in Hyderabad.

A key segment of the event is a fireside chat on the IndiaAI Mission, featuring Mr. Abhishek Singh, CEO, IndiaAI Mission, and Additional Secretary, MeitY. The event will also include a panel discussion on “Shaping Ethics in AI Governance: Government and Multilateral Perspectives”, with participation from senior officials representing the MeitY, Office of the Principal Scientific Adviser to the Government of India, Amrita University, UNESCO, and the Government of Telangana. Participants will also engage in four thematic breakout groups on governance, workforce readiness, infrastructure, and use cases, facilitating deeper dialogue and input on key dimensions of India’s AI readiness.

About AI RAM initiative

This is the third of five multi-stakeholder consultations under the AI RAM initiative by UNESCO and MeitY, following earlier sessions in New Delhi and Bangalore. Aimed at shaping an India-specific AI policy report, the initiative focuses on mapping strengths and opportunities in the ethical AI ecosystem. Open to policymakers, technologists, academia, and practitioners, this consultation is an opportunity to help shape a responsible, future-ready AI roadmap for the country. Interested participants may register on this link: https://forms.gle/3emuaGpgZuvMghYq9

This initiative comes at a pivotal time as India rolls out its ambitious INDIAai Mission, backed by over ₹10,000 crore in funding. At its core is the Safe and Trusted AI pillar, reinforcing the Government of India’s commitment to ethical, accountable, and secure AI development. By advancing indigenous frameworks, governance tools, and self-assessment guidelines, the mission seeks to empower innovators and make the benefits of AI accessible across sectors.

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Dharmendra Tewari Navin Sreejith

(Release ID: 2119746) Visitor Counter : 87

Source: Government of India

Posted On: 06 APR 2025 2:15PM by PIB Delhi

The Indian Navy’s stealth frigate INS Tarkash participated in a PASSEX with the Royal New Zealand Navy’s Anzac-class frigate Te Kaha on 04 Apr 25 in the Gulf of Aden. This exercise marked the culmination of the New Zealand led CTF 150 Joint Focused Operation ANZAC Tiger (27 Mar – 04 Apr 2025), a Combined Maritime Forces (CMF) operation in which INS Tarkash was mission deployed.

The PASSEX involved a range of interoperability drills, including cross-deck landings, cross boarding, Sea Rider exchanges, and tactical manoeuvres, all integrated with communication procedure exercises. This provided a valuable opportunity for the two navies to exchange best practices, further strengthen their bilateral maritime cooperation and enhance interoperability.

Conducted in the strategic Indian Ocean Region, this event underscores the strong and enduring relationship between India and New Zealand, reaffirming the Indian Navy’s role as a key and preferred security partner committed to regional maritime stability.

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VM/SKS  

(Release ID: 2119659) Visitor Counter : 24

Source: Hong Kong Information Services

Financial Secretary Paul Chan

As a city where East meets West and tradition intertwines with innovation, we are proud to host you to collectively chart the course of Web3.

As a technology, blockchain is displaying its vast potential, significantly increasing transaction efficiency, lowering costs and enhancing market transparency. Today, we are witnessing a marked increase in the institutional adoption of Web3, with traditional banks, asset managers and brokers increasingly integrating digital assets into their offerings.

As more jurisdictions embrace cryptocurrencies, the market has been energised with optimism, marked by a bullish trend over the past year or so.

But beyond finance and the enthusiasm on cryptocurrency, we all agree that blockchain can bring real benefits to the people. For example, ReFi (regenerative finance) is gaining traction. Tokenised carbon credits enable the transparent tracking of emissions reductions, reinforcing trust in voluntary carbon markets.

Meanwhile, the convergence of Web3 and AI is unlocking new frontiers. In finance, decentralised AI algorithms enhance credit assessments, audit smart contracts with greater precision, and deliver hyper-personalised investment strategies. Beyond finance, this synergy streamlines supply chains, revolutionises healthcare data management, and creates new immersive gaming experiences. Web3 and AI are transforming businesses and public services, driving innovation and efficiency at every turn.

HK: driving Web3 innovation

Allow me to take a few minutes to talk about Web3 in Hong Kong, our attitude and approach towards Web3, and our role in this global transformation.

Hong Kong is pro-Web3. Over two years ago, we published a high-level policy statement on the development of virtual assets, affirming our commitment to a dynamic Web3 ecosystem. Central to this is the principle of the “same activity, same risk, same regulation” approach. Through a balanced and pro-innovation regulatory approach, we seek to maintain a level playing field for market participants and encourage innovative activities in this space.

We have been walking the talk, and have delivered a number of initiatives. We were among the first in the world to have established clear licensing frameworks for virtual asset trading platforms, or VATPs. Indeed, the Securities & Futures Commission has already issued 10 VATP licences. We have also authorised VA (virtual asset) spot ETFs (exchange-traded funds) last year, and Hong Kong now hosts the largest VA ETF market in the Asia Pacific, bridging traditional finance with crypto innovation.

Meanwhile, legislation for stablecoin regulation is set for imminent passage. My colleagues at the Financial Services & the Treasury Bureau and the Hong Kong Monetary Authority (HKMA) are working hard to get the relevant licensing regime to go live within this year.

The Government will also conduct consultations on the licensing regimes of over-the-counter trading services and custodian services for VAs. This will solidify Hong Kong’s comprehensive regulatory architecture.

Let me make clear that Hong Kong’s approach to Web3 is not simply about regulation. We aim to strike a balance, ensuring market integrity without stifling innovation. After all, innovation entails risks. The lesson we have learnt is that we need to put it under a balanced regulatory framework so as to enable the sector to grow in a responsible and sustainable manner.

One essential element in our regulatory regime is sandboxes, such as the HKMA’s Project Ensemble. Project Ensemble allows innovators to test various use cases, such as tokenised real-world assets, with early regulatory feedback. This signifies our pro-innovation approach, as we put regulators and innovators in a co-creation process.

Later this year, we will unveil a second policy statement on the development of virtual assets. It will cover how to make use of Web3 to fast-track the development of traditional financial services, empower the real economy and strengthen the application of digital asset technologies.

A few thoughts on Web3

Now, looking ahead, allow me to share a few thoughts we consider important for the future development and success of Web3.

First, it is the very vision of Web3 to enable more equitable use of the Internet, and make transactions more efficient and less costly. Innovation is core to this goal, and regulators should adopt a technology-neutral approach. It would only be counterproductive if jurisdictions or regulatory authorities favour particular types of cryptocurrencies, or rule out technologies or applications at the outset. Markets, not mandates, should decide which innovations prevail.

Second, we all know Web3’s true potential lies well beyond digital assets or cryptocurrencies. Combined with AI, it can be a valuable tool to optimise impact investments, promote inclusive finance, support decarbonisation initiatives, advance sustainable development goals, and more. The global Web3 community should and can strengthen collaboration to support these worthy causes.

Finally, it is essential that new technologies be developed and applied responsibly. AI, for instance, is evolving at speeds that are unexpectedly faster. Decentralised networks bring enormous benefits, but when coupled with AI, challenges such as algorithmic bias, deepfakes and cybersecurity require attention and co-operation at the regional and global levels. Here in Hong Kong, we advocate for suitable guardrails – frameworks that protect investors, consumers and users while encouraging innovation activities. We support a multi-stakeholder approach where governments, regulators and market players across different territories and regions come together to drive forward the sustainable development of Web3.

Concluding remarks

Ladies and gentlemen, to secure a promising and successful future for Web3, we need not just technological innovation, but also a common will to harness creativity and innovation for the benefit of the people. Let me assure you that Hong Kong is committed to this goal. We are here to collaborate with innovators and entrepreneurs from around the world, pushing the boundaries of what is possible, and leveraging the transformative power of Web3 for the greater good.

Financial Secretary Paul Chan gave these remarks at the Hong Kong Web3 Festival on April 7.

Source: Hong Kong Information Services

The Chief Executive today approved the immediate three-year appointment of Vivian Cheung as the Airport Authority’s (AA) Chief Executive Officer.

Congratulating Mrs Cheung as she takes office, Secretary for Transport & Logistics Mable Chan said: ‘’I trust that under Mrs Cheung’s leadership, the AA will continue to strengthen the leading position of Hong Kong International Airport as an international aviation hub and promote the long-term development of the airport.”

Ms Chan highlighted various aspects of the airport’s development going forward, including the immense opportunities brought by the Three-Runway System, the airport’s transformation into a world-leading Airport City, integration with the Greater Bay Area through enhanced intermodal connectivity, and promoting continuous innovation in the aviation sector overall.

She added that the Government will continue to work closely with the AA to take the city’s aviation industry to new heights.