Web3 Harbour and PwC Hong Kong have released the “Hong Kong Web3 Blueprint” to encourage greater investment in blockchain infrastructure development. The blueprint emphasizes the transparency, security, and user empowerment of decentralisation and aims to leverage Web3 superpowers through five key enablers: talent, market infrastructure, standards, regulation, and funding and economic contribution. It calls for participants to focus on open finance, trade finance, capital markets, asset management, and carbon markets. The blueprint comes amid recent regulatory progress, with Hong Kong passing its stablecoin ordinance, which is set to take effect in August. The report also outlines five action groups to focus on important areas of blockchain development, such as stablecoins, funds management, virtual asset trading platforms (VATPs), legal and compliance, and custody and over-the-counter trading. The blueprint does not address other types of cryptocurrencies, but focuses on the broader blockchain ecosystem that plays into the technology’s six identified “superpowers”: user ownership, immutability with transparency, privacy and digital identity, automation, security, and interoperability. It also promotes more public-private partnerships and government support for developing Web3 talent through programs such as accelerators and internships.