PolyU and the Cybaverse Academy Limited have signed a Memorandum of Establishment to set up the PolyU and Cybaverse Academy Joint Lab on Law and Web3 in Hong Kong. It will be a first-of-its-kind research laboratory, focusing on the intersection between the law and Web3, as well as pursuing research and development into technological solutions and looking at relevant legal and industry standards.

Web3 is a decentralised internet built on an open blockchain network that is not owned and controlled by large entities. As such, governments worldwide are considering how to provide an appropriate regulatory environment for the development. PolyU and Cybaverse Academy will collaborate to promote the safety, security and protection of privacy of Web3 users. The joint lab also aims to provide regulators and other stakeholders with essential tools to enhance protection for the investment community and the general public, as well as to provide a solid foundation for a better Web3 ecosystem.

PolyU’s expertise in blockchain technology has previously been recognised by CoinDesk, which ranked it first in the “Best Universities for Blockchain 2022” list. Leveraging the University’s excellence in blockchain technology education and research, the Research Centre for Blockchain Technology of PolyU, the first research centre in Hong Kong to cover research in full-stack blockchain technology, will provide a training programme related to Web3.