Unlocking Value
- Peter K F Cheung SBS
- May 21, 2024
- 3 min read
FADE IN
Act 1
Mobile in hand, PETER is in thoughts.
PETER (V.O): I've a brainstorming session at lunch today.
FLASHBACK
INT. ASIA SOCIETY - 18:45 (April 26, 2024)
World Intellectual Property (IP) Day reception. Addressing the AUDIENCE, the FINANCIAL SECRETARY talks about: ...Hong Kong as an international IP trading hub...
PETER (V.O): Good that it's on the Govt's agenda.
Later, Peter has a conversation with ENTREPRENEUR#1.
PETER: You're interested in crypto? If it's backed by IP, the crypto should make a difference.
ENTREPRENEUR#1: Let's have a brain-storming session over lunch sometime.
RETURN TO PRESENT
Act 2
INT. LINGNAN CLUB - 13:00
Over lunch, Peter discusses with ENTREPRENEURS#1 & 2, a blockchain EXPERT, an investment BANKER and a LAWYER.
PETER: Many potentially valuable IP assets aren't commercialized.
EXPERT: Not to mention it's time-consuming and costly eg to get a patent.
PETER: I've been thinking about leveraging blockchain technology to create a crypto that's backed with IP assets.
PETER (Cont'd): The IP assets range from an author's copyright works to a bundle of essential patents by many inventors.
BANKER: But IP rights can be complex...
LAWYER: They can be taken care of via smart contracts.
BANKER: The fewer the right holders, the better.
EXPERT: Through layering, a crypto backed by IP rights can be technically transferable.
Peter nods, as the investment banker is in thoughts.
PETER: Are you worrying about the liquidity issue?
EXPERT: Yes.
PETER: To create a new market is never easy.
ENTREPRENEUR#1: If there's no demand for the coin...
PETER: Bitcoins weren't wanted in its early years...
ENTREPRENEUR#1: True.
ENTREPRENEUR#2: I subscribe to your value to make Hong Kong a value centre.
PETER: Crypto backed by IP is just one aspect of the concept of IP trading that should boost the demand for Hong Kong's high-end professional services.
ENTREPRENEUR#1: The Govt should take the lead.
PETER: At the WIPO reception, I learned that the bureaucrats were waiting for entrepreneurs to take the lead.
The Banker helps Peter with some food.
PETER (Cont'd): When I was with Govt, I acted differently. But after my retirement, the momentum I created was gone.
Recalling.
PETER (Cont'd): In my personal capacity, I did try to collaborate with interested quasi-governmental institutions in Hong Kong and in the Greater Bay Area.
Desserts are served.
PETER (Cont'd): For the former, the mission was too daunting for them. For the latter, the pilots weren't international...
Meeting ends.
EXT. MTR CABIN - 14:45
Crowded. Standing, Peter is in thoughts.
PETER (V.O): While it's hard to lead change, collaboration is the key.
Pausing.
PETER (V.O) (Cont'd): But people are fearful of the unknown and loss of control. Organizations have their inertia.
Thinking.
PETER (V.O) (Cont'd): There're competing priorities. And support, particularly financial resources, are scarce.
Thinking
PETER (V.O) (Cont'd): If I miss transforming Hong Kong into a value centre, I'd still make myself a value centre!
Act 3
INT. STUDY - 22:00
Peter inserts an AI drawing entitled "Unlocking Value..." to a draft.
PETER (V.O): Unlocking value is what an IP-backed cryptocurrency, or the general concept of IP Trading, aims to achieve.
Thinking.
PETER (V.O) (Cont'd): Leveraging blockchain technology and harnessing the value of IP should be the key activities of a tech-cum-IP economy.
Pausing.
PETER (V.O) (Cont'd): I'd refine my business models and continue to exercise my best endeavors to make my dream come true.
FADE OUT
THE END
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