Website DesignApp DesignStartupsWebsite DevelopmentApp DevelopmentFunding
Back to News

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

BOC Hong Kong (2388) has officially launched a simulated digital Hong Kong dollar trial to validate the use case of digital Hong Kong dollar pre-paid services. The first phase of the trial is open to some of the Bank's staff to purchase pre-paid service contracts through the BOC Hong Kong mobile payment application, BoC Pay, and eligible customers will be invited by participating SMEs to join the trial thereafter.

BOC Hong Kong has successfully stacked smart contracts in the Digital Hong Kong Dollar application and conducted a trial in a pre-paid consumer application scenario. In this trial, the Bank introduced about 10 merchants covering industries such as beauty, medical, fitness and education. After purchasing a pre-paid service contract from a preferred participating merchant via BoC Pay, the pre-paid funds will be converted into a digital Hong Kong dollar under the customer's name, which will be managed by the smart contract operation. When the customer makes a purchase, the smart contract conditions will be automatically enforced to automate the payment to the merchant.

Mr. Chen Guang, Deputy General Manager of the Digital Currency Task Force of BOCHK, said, "Under the guidance of the Hong Kong Monetary Authority (HKMA), BOCHK has been actively supporting the Central Bank's digital currency research and trials. As one of the first banks to participate in the HKMA's Digital Hong Kong Dollar (HKD) Pilot Program, the Bank has officially launched the Simulated Digital Hong Kong Dollar (SDHK) trial after thorough preparations in the early stages. The simulated digital Hong Kong dollar trial is conducted through the existing BOC Hong Kong BoC Pay and BoC Bill, which effectively lowers the technical threshold and additional resources for merchants to participate in the trial of pre-payment for purchases. The Bank looks forward to capitalizing on the opportunity presented by the HKMA's Digital Hong Kong Dollar Pilot Scheme to create a new business model for retail SMEs and build a healthy ecosystem of pre-payment consumption."

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.

Read More
Cybersecurity: More than 70% of enterprises have suffered cyber security attacks in the past year

Cybersecurity: More than 70% of enterprises have suffered cyber security attacks in the past year

More than 70% of the surveyed enterprises had suffered from cyber security attacks in the past year, which is a record high. Phishing attacks are the most common type of cyber security attack encountered by almost all affected enterprises. Financial Services (64.9 points) and Information and Communications Technology (63.3 points) sectors continue to be ranked in the "Manageable" category.

Read More
Hang Seng Bank to test programmable payment

Hang Seng Bank to test programmable payment

Hang Seng Bank is one of the banks with three selected use cases, including programmable payment for merchant reward schemes and disbursement of government qualifications. Four real-world simulation tests were successfully completed in September. Over 500 simulated digital Hong Kong dollar transactions were processed.

Read More
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.

Read More
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.

Read More
Cyberport hacked, data stolen

Cyberport hacked, data stolen

Cyberport was hacked in mid-August, involving the theft of up to 400GB of staff data. According to the hacker's latest website, the information has been "leaked" and can be downloaded for free from the dark web. A computer security researcher criticized the Cyberport for its poor security awareness.

Read More
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.

Read More
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.

Read More
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.

Read More
The Losses of Hong Kong's Financial Industry Development

The Losses of Hong Kong's Financial Industry Development

Charles Li, the former Chief Executive of Hong Kong Exchanges and Clearing Limited (HKEX), has passed away at the age of 76. He made significant contributions to the development of Hong Kong's financial and securities industry. Zhang Huafeng, former member of the Legislative Council representing the financial services sector, expressed that his death is a loss to Hong Kong's financial industry and expressed eternal remembrance for him.

Read More
"Housing Association Center in the Northern Metropolitan Area Opens, First Real Estate PropTech Co-Working Space "Smart-Space PropTech" Begins Operating

"Housing Association Center in the Northern Metropolitan Area Opens, First Real Estate PropTech Co-Working Space "Smart-Space PropTech" Begins Operating

The Hong Kong Housing Society and Cyberport held an inauguration ceremony yesterday at the new office, "Housing Society Centre," announcing the establishment of the first-ever shared workspace for property technology (PropTech) in Hong Kong. The shared workspace, named Smart-Space PropTech, is located in the northern metropolitan area and has already accommodated 13 start-ups since July. These start-ups will develop innovative PropTech products and solutions and conduct concept verification and testing. This project marks the first initiative in the northern metropolitan area concerning the development of property technology.

Read More
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.

Read More

color

border style

  • * Accept either 'px' or % as unit, e.g. 0px, 5px, 5%

typography

  • Heading (H1, H2, H3, H4, H5, H6)
  • Body Text (Paragraph, Label)
  • Link

button

  • * Accept either 'px' or % as unit, e.g. 0px, 5px, 5%
  • * First number: top and bottom padding
    * Second number: left and right padding
    * Units: px
  • Hover Effect

form