The World Blockchain Organization sets up “Digital Economic Zones” for digital economy era

Frank Zheng, Director-General of the World Blockchain Organization (WBO)

Blockchain technology and its economic, social, and technological implications, mainly in the form of the cryptocurrency Bitcoin, have become hot topics of conversation. The World Blockchain Organization (WBO) has set up several special economic zones in the Caribbean to promote preferential policies, such as industrial planning, access, investment attraction, and attracting talents for establishing a friendly industrial system. Preparing to launch the “Digital Currency Exchange” at the US Nasdaq Stock Exchange, WBO assessment will be an important force in the digital capital market.

With the bitcoin investment boom, blockchain technology has quickly attracted attention from all walks of life, and the application level continues to develop. Frank Zheng(鄭曉軍), Director-General of the World Blockchain Organization (WBO), said in an exclusive interview with NOWnews, WBO is a non-profit public welfare initiative established in August 1, 2017 in Delaware, USA, initiated by seven UN agencies. Organized and filed on October 10, 2017 at the UN Economic and Social Council as a non-governmental international organization; on May 1, 2018, it officially became a direct blockchain professional institution of the United Nations NGO.

WBO has more than 600 members, several committees, dozens of functional departments, several regional commissions and more than ten commercial organizations. It is the only non-government in the UN agency series that focuses on blockchain technology and industry. The organization is also the world’s largest blockchain international organization and has established “digital economic zones” in the Caribbean.

Frank Zheng said the “digital economic zones” are professional industrial parks for the digital economy which provides special services in industrial planning, industrial access, land lease, carrier construction, investment attraction, investment services, operational support, tax collection, and talent attraction. Preferential policies to build an industrial system that is friendly to digital economy industry investment, enterprises, projects and talents.

Their main policies including world-class digital economic zone positioning, unrestricted industry access, land lease price concessions, encouragement of construction industry carriers, incentives for investment, very simple offshore company and foundation registration process, and issuance of digital assets. Special preferential policies such as operating transaction licenses, issuing bank insurance payment licenses, comprehensive exemption of various taxes, and immigration and citizenship of shareholder directors.

The US Nasdaq Stock Exchange is also preparing to launch a digital currency exchange in the near future. WBO believes that with the development of the digital economy, the digitalization of the traditional securities market is a major trend due to regulation (the traditional securities market supervision system).

For the reasons of completeness and market, the mainstream digital asset exchange in the future will be a digital stock exchange. The Nasdaq Stock Exchange is highly sensitive to business, and the launch of digital currency exchanges and digital stock exchanges will be an important force in the digital capital market.

Recently, WBO’s work focuses on strengthening cooperation with UN agencies and actively applying to the UN for membership or observer qualifications in economic, social, educational, scientific, cultural, and industrial institutions. At the same time, WBO Professional Committee will be formed, including the International Relations Committee, the Strategic Investment Committee, the Digital Money Committee, and the Chain Reform Experimental Committee.

In addition, it has also actively established regional and national commissions, including the ASEAN Special Commissioner’s Office, the Hong Kong, Macao and Taiwan Special Commissioner’s Office, the Japan Special Commissioner’s Office, the Philippines, South Korea, Hong Kong and Canada.