Skip to content

Internet Computer Plans for Hub in Hong Kong

The blockchain is also forming an ICP Asia Alliance, and is collaborating with local venture capital to boost the region's talent pipeline.

Table of Contents

Blockchain network Internet Computer, which is designed to provide a "World Computer that can replace traditional IT" and host a new generation of Web3 services and applications that run solely from the blockchain, plans to open a hub in Hong Kong.

Dominic Williams, the founder of Dfinity, which develops the Internet Computer (IC) blockchain and its ecosystem, said on Twitter that the hub will likely be located at start-up and tech hub Cyberport.

Williams was just in the city for Hong Kong's Web3 festival, where he delivered a speech at its opening ceremony. He previously said that "Asia will give Silicon Valley a serious run for its money in Web3"

A new internet?

The Internet Computer (ICP) is a set of protocols that allow independent data centers around the world to band together and offer a decentralized alternative to the current centralized internet cloud providers. It was created by the Swiss non-profit organization Dfinity Foundation and launched in May 2021.

The blockchain is designed to be a fully decentralized network that can host websites, apps, and other digital services. It allows developers to build and deploy software directly on the blockchain, without the need for a centralized server.

Internet Computer has already gained significant attention from investors and developers alike, with several high-profile partnerships announced in since 2021, including with major technology companies such as Samsung and Oracle, as well as partnerships with leading blockchain and decentralized finance (DeFi) projects.

Read more: Hong Kong Declares Crypto Has "All the Attributes of Property"

More recently, it announced a partnership with Carbon Crowd to bolster its carbon emissions tracking. It is also reportedly working on an integration between Ethereum and the Internet Computer protocol

Internet Computer's ICP token surged to its highest level since February, and is up 15% in the past week, currently sitting at US$6.13. The token is the 27th largest by market capitalization globally.

Internet Computer to USD (Data: CoinMarketCap)

The world of Web3 can be quite a whirlwind. Whether it’s crypto news in Singapore, South East Asia or even across the globe, we understand how busy the industry is keeping you, so we kindly send out three newsletters each week:

  • BlockBeat for a wrap-up of the week’s digital assets news
  • Blockhead Brief for weekend happenings as well as what to look forward to in the week ahead
  • Business Bulletin for macroeconomic updates and industry developments.

To avoid FOMO and access member-only features, click here to subscribe for FREE.