Turn into a crypto educator? Former New World CEO Adrian Cheng appeared at the Consensus Hong Kong conference

This year, the New World Group faced a housing bubble in Hong Kong, with its assets shrinking significantly. Former CEO Adrian Cheng stepped down and left quietly, but it seems he had already planned for his future. Cheng appeared at the well-known Web 3 crypto event Consensus Hong Kong, attending in his capacity as the chairman of the board of the Hong Kong Academy for Wealth Legacy. Hong Kong's mainstream media such as Sing Tao Daily and Wen Wei Po reported on this.

Adrian Cheng Becomes a Crypto Educator

Cheng's new identity is the chairman of the Hong Kong Academy for Wealth Legacy, which aims to provide education and training for wealth asset owners, including knowledge sharing and strategies for wealth inheritance. In addition to Cheng, the board members include business leaders from family offices and academics, with the goal of connecting global family office members.

At the Consensus Hong Kong conference, Cheng stated that the Hong Kong Monetary Authority has launched the Ensemble sandbox to support the tokenization market applications in Hong Kong, with the (Chinese) government authorities encouraging the development of crypto assets. Hong Kong also accepts crypto assets as proof of assets for investment immigration (CIES net asset review). With the application of RWA and the construction of blockchain infrastructure, wealth can be passed on to families and the next generation. He believes that Hong Kong can become a global digital asset financial center (note: digital assets include but are not limited to Central Bank Digital Currencies (CBDCs), crypto, RWA, or other blockchain-based assets and infrastructure).

Background of the Hong Kong Academy for Wealth Legacy

According to the news release on the official website, the Hong Kong Academy for Wealth Legacy was established by the Hong Kong Special Administrative Region government through the Hong Kong Financial Services Development Council, aiming to promote industry exchange, knowledge sharing, and talent training for the family office sector, and to build a thriving ecosystem for global family offices.

Hong Kong was previously the largest financial center in Asia, but in recent years it has been affected by the collapse of the Chinese real estate market, with the stock and property markets both languishing. However, Hong Kong's blockchain development has been thriving, with almost all major American blockchain conferences being held in Hong Kong. The Hong Kong Academy for Wealth Legacy can be seen as a bridge connecting China with American and global blockchain players and family offices, using education and exchange to bring in Old Money and create New Money. As Hong Kong is still a Special Administrative Region, even though the Chinese government has not issued clear regulations on blockchain, by appointing the well-known crypto collector Adrian Cheng (the largest holder of Azuki NFT) as the chairman of the education institute, there is a sense of wanting to "Make Hong Kong Rich Again" through crypto.