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Standard Chartered Bank stands out in Cyberport's Fintech Fast Track Programme

Standard Chartered Bank and PwC China's white paper highlights the significant impact that central bank digital currencies (CBDCs) can have on the personal and business ecosystem and payment landscape in the Greater Bay Area and other regions. CBDCs, with their combination of trust and programmability, have the potential to provide innovative services and opportunities for individuals and businesses in the banking industry and other sectors. Small businesses, in particular, often face challenges in establishing cost-effective loyalty reward programs or joining established loyalty reward alliances. However, programmable CBDCs can enable small enterprises or niche brands to form alliances online and offer attractive digital loyalty reward programs.

The white paper also explores the commercial applications of CBDCs, including how their programmable features can revolutionize retail, trade, and supply chain finance. Programmable CBDCs have the potential to enhance accessibility in these areas. However, many small and medium-sized enterprises still face difficulties in seeking financing due to a lack of scale, collateral, or credit records. According to Stephanie von Friedeburg, Chief of Staff to Standard Chartered Asia, Africa, and Middle East Regional CEO, CBDCs are expected to address these pain points and provide better working capital channels for small suppliers, enhancing the resilience of the entire supply chain against shocks.

Furthermore, the white paper emphasizes the need for appropriate smart contracts and data-sharing governance models to support broader commercial adoption of CBDCs in the business environment. Cooperation between cross-regional industry institutions and regulatory bodies is crucial to validate CBDC use cases and establish programmable banking ecosystems that unlock the potential of CBDCs.

In summary, the introduction of CBDCs will have a profound impact on individuals and businesses in the Greater Bay Area and other regions. CBDCs, with their combination of trust and programmability, provide innovative business models for small enterprises, enabling them to create cost-effective loyalty reward programs. Additionally, CBDCs can enhance accessibility in trade and supply chain finance, providing better working capital channels and strengthening the resilience of supply chains. However, achieving commercial applications of CBDCs requires appropriate governance models and strengthened cross-regional cooperation to establish programmable banking ecosystems. Cyberport will play an important role in supporting the promotion and application of digital currencies in this emerging field.

Hong Kong's Web3 industry has been developing at a rapid pace

Hong Kong's Web3 industry has been developing at a rapid pace

Hong Kong's Web3 industry has been developing at a rapid pace. Cyberport, as a wholly-owned enterprise of the Hong Kong government and a policy enforcer, has been instrumental in promoting the development of the Web3 ecosystem in Hong Kong. Since the announcement of Hong Kong's Virtual Asset Development Declaration in October last year, the industry has grown rapidly.

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Hong Kong Ballet hacked by ransomware

Hong Kong Ballet hacked by ransomware

The Hong Kong Ballet announced today (16th) that its computer network system has been hacked by ransomware, resulting in unauthorized access to its internal computer system. HKB has immediately conducted an internal investigation, hired a network security expert to assess the situation, and reported to the police and the Office of the Privacy Commissioner for Personal Data.

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BOC Hong Kong overlaid smart contracts in digital Hong Kong dollar

BOC Hong Kong overlaid smart contracts in digital Hong Kong dollar

BOC Hong Kong has successfully overlaid smart contracts in its Digital Hong Kong Dollar application. The first phase of the trial is open to some of the Bank's staff to purchase prepaid service contracts through the BoC Pay mobile payment application. After purchasing a pre-paid service contract from a preferred participating merchant, the customer's funds will be converted into a digital Hong Kong dollar.

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Digital Currency Trial: First Phase Opens to Banks, Financial Institutions

Digital Currency Trial: First Phase Opens to Banks, Financial Institutions

The first phase of the trial is open to some of the world's leading banks and financial institutions. The trial is designed to test the feasibility of using digital currency in a variety of ways. The second phase will be open to anyone who wants to take part in the trial. The third stage will be for those who want to participate in the digital currency trial.

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Hacking to be a problem in the future

Hacking to be a problem in the future

Cyberport and the Consumer Council have been hacked and blackmailed, resulting in the leakage of personal data. Mr. Yau Tat-kan, Legislative Council Member for Technology and Innovation, pointed out that hacking will definitely be a problem in the future. He suggested that the government should subsidize small and medium-sized enterprises (SMEs) to strengthen their network security systems.

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Cyberpolice International Forum to be held in France

Cyberpolice International Forum to be held in France

The Cyberpolice International Forum, organized by the Police Force, will be held for three consecutive days from today (13) The recent hacking of Cyberport has aroused public concern over cyber security. Senior police officers and cybersecurity experts from more than 40 countries or regions, including France, Australia and Israel, participated.

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Cyberport claims to have lost 400 gigabytes of personal data to hacker group

Cyberport claims to have lost 400 gigabytes of personal data to hacker group

Cyberport is suspected to have lost more than 400 gigabytes (GB) of personal data to a hacker group that claimed today (December 12) that the data had been "leaked" Cyberport claims that it has contacted the potentially affected persons directly and will provide them with free identity monitoring services.

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Cyberport says it has contacted affected individuals

Cyberport says it has contacted affected individuals

Cyberport is suspected to have lost more than 400 gigabytes of personal data to a hacking group last month. The data included personal names and contact details, information on employees, former employees and job applicants, and a small amount of credit card information. Cyberport said it had contacted the potentially affected individuals directly and would provide them with free identity monitoring services by professional security consultants.

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Hackers hacked Cyberport's staff's documents

Hackers hacked Cyberport's staff's documents

Cybersecurity platform Falcon Feedsio posted on social media that Cyberport was hacked. The hackers were in possession of the Cyberport startup's staff's identification documents, company documents, photos, etc., amounting to more than 400GB of data. The relevant information is now priced at US$300,000, equivalent to HK$2.35 million.

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Hong Kong: A New Starting Point for Cryptocurrency and Digital Hong Kong Dollar

Hong Kong: A New Starting Point for Cryptocurrency and Digital Hong Kong Dollar

Hong Kong will allow individual retail investors to trade cryptocurrencies, including Bitcoin and Ethereum, starting from June. This move signifies an important step by the Hong Kong government towards opening up cryptocurrency trading and embracing innovation in the Web3 space. Additionally, the Hong Kong Monetary Authority has launched a pilot program for a digital Hong Kong dollar. While the underlying technology of virtual assets can address the issue of trustless automated transactions, the risks associated with them cannot be ignored, making them unsuitable as widely used payment tools or for expanding financial inclusion. Therefore, the 'digital Hong Kong dollar', backed by strong endorsement, has now garnered public attention as it will serve as a backbone linking fiat currency and virtual assets, providing necessary digital financial infrastructure for the development of Hong Kong's Web3 ecosystem and digital economy.

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Cyberport Dollar: Pioneering the Future of Virtual Assets and International Payments

Cyberport Dollar: Pioneering the Future of Virtual Assets and International Payments

The Hong Kong Monetary Authority (HKMA) has officially launched the Digital Hong Kong Dollar Pilot Project, with 16 companies selected to participate in testing across six major application scenarios. The Digital Hong Kong Dollar will serve as a bridge between traditional currency and virtual assets, primarily used for settlement of tokenized assets and international cross-border trade payments. It is expected to reduce intermediaries and transaction costs in cross-border payments.

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Successful Hosting of TechWave Web3.0 Project Day: Hong Kong Marks a Milestone in Blockchain Industry Development

Successful Hosting of TechWave Web3.0 Project Day: Hong Kong Marks a Milestone in Blockchain Industry Development

"TechWave Web3.0 Summit" is an event organized by Huawei Cloud and co-organized by Hong Kong Cyberport, Hong Kong Web3.0 Association, and Techub News. The event was successfully held at Hong Kong Cyberport. During the event, Huawei officially announced the Web3.0 Node Engine Service (NES) and Enclave Secure Computing, both blockchain services. Huawei Cloud also launched a Web3.0 Zone on its app store, with the initial batch of dozens of partner applications being featured. The event featured guest speeches from Mr. Peter Yan, CEO of Hong Kong Cyberport, Mr. Wang Yang, Vice President of Hong Kong University of Science and Technology, and Mr. Gao Jianghai, General Manager of Public Cloud Business, Huawei Cloud. Additionally, hundreds of representatives from global Web3.0-related companies, professionals, and industry leaders participated in the event to discuss topics such as Web3.0 industry development, infrastructure, application compliance, and the integration of data and reality.

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