Hong Kong has taken a major step forward in Stable Coin regulation and Block chain innovation, and Flare Network's pilot program with Red Date has attracted much attention. In order to make the public more aware of the potential of this technology, a special AMA event was held to delve into the possibilities of Stable Coin applications, Decentralization Identity (DIDs) and cross-border transactions. (Synopsis: Chinese state media: The United States tries to embrace BTC, marking the fall of the dollar era) (Background added: Flare milestone moment!) DecentralizationKYC status for Chinese visitors to Hong Kong This article is widely compiled and provided by Flare Network and does not represent the position of the region and is not investment advice, purchase or sale advice. For details, please refer to the liability warning at the end of the article. Flare Network AMA Highlights Review The world's first pilot program that could allow Chinese tourists to use Stable Coin in Hong Kong has been launched! Flare Network conducted an AMA with Red Date, and here is a summary of the highlights Hong Kong is preparing to announce new Stable Coin regulations that allow the use of publicly owned Blockon-chain digital goods. Flare and Red Date are leading the innovation of self-sovereign digital identities, enabling new ways of interacting with data and assets across borders, and demonstrating them through pilot programs. If the pilot is successful, technically feasible and subject to regulatory approval, the scheme will likely enable Mainland Chinese visitors to: Anonymously sign up for the Stable Coin app Use Stable Coin to buy crypto financial products Red Date CEO Yifan He emphasized: "This is a test of technical feasibility, and once we prove the viability of the entire system, the government will be able to better understand and closely integrate the pilot with compliance." Want to know more 1⃣ Why choose Stable Coin for a pilot with mainland Chinese tourists in Hong Kong? 50 million Mainland tourists visit Hong Kong every year Each tourist spends an average of 50,000 people's coins, totaling up to 2.5 trillion people's coin of offshore funds waiting to be released Stable Coin as an infrastructure helps to promote inter-agency and cross-jurisdictional economic trade 2⃣ What is China RealDID? Decentralization identity solution created in cooperation with China's Ministry of Public Security Verify identity using zero-knowledge proofs (ZK-proofs) without exposing personal data Complete identity verification while protecting user privacy Red Date CEO Yifan He stressed that any information about Chinese tourists using this solution in Hong Kong will not be exposed. 3⃣ Why did Red Date choose to work with Flare? Yifan He points out that Flare's uniqueness lies in its focus on data: "Cryptocurrency is data, and identity is data." Flare emphasizes Cross-Chain Interaction interoperability with oracles that connect data across different ecosystems The Flare Data Connector offers a powerful and decentralized alternative to traditional centralized KYC systems that give users control over personal data 4⃣ What the future looks like? When asked about the future, Flare CEO @HugoPhilion said: Flare's data protocol is very interesting in normalizing business, not just in the cryptocurrency space, this pilot is a great model for implementing on-chain identity, I think this model can be replicated in other fields. Yifan He believes that the mainland's ban on digital assets may be lifted as the cryptocurrency industry is gradually affected by regulation, when Chinese tourists can legally trade digital assets in Hong Kong, and he also foresees that anonymous KYC technology will be widely adopted by financial institutions. ___ Disclaimer: The content of this article is a publicity manuscript provided by the contributor, and the contributor has no relationship with the moving area, and this article does not represent the position of the moving area. This article is not intended to provide any investment, asset advice or legal advice and should not be construed as an offer to buy, sell or hold assets. Any services, programs or tools, etc. mentioned in the content of the publicity manuscript are for reference only, and the final actual content or rules are subject to the announcement or explanation of the contributor, and the moving area is not responsible for any possible risks or losses, and readers are reminded to check carefully before making any decisions or behaviors. Related reports Hong Kong government promotes financial innovation: the first AI policy guidelines for the financial industry are released, extending virtual asset tax incentives Vitalik Buterin is domineering: Give me respect! Ethereum Foundation sells ETH not to play people for suckerssucker, but to ensure operations and development Node, bipartisan economic policy, and follow-up market impact at the critical time of the US election Flare Network x Red Date: China's Visit to Hong Kong Stable Coin and Decentralization Identity Double BreakthroughThis article was first published in BlockTempo's "Dynamic Trend - The Most Influential Block Chain News Media".