In May this year, Standard Chartered Hong Kong was selected to participate in the HKMA's "Digital Hong Kong Dollar" Pilot Project to test the application of analog digital Hong Kong dollars in different scenarios, especially in the absence of network or power supply, and to conduct a study on the inclusiveness, security and reliability of analog digital Hong Kong dollars in order to explore the potential of analog digital Hong Kong dollars.
Over the past few months, the Standard Chartered team has completed two rounds of testing and demonstration with over 10 different types of merchants and organizations and 200 participants, including: public transportation - Norman Chan, Founding Chairman of the Hong Kong Web 3.0 Association, Huen Wai-yee, Chief Executive Officer of Standard Chartered Hong Kong and Man Wai-shing, Head of Consumer, Private and SME Banking of Standard Chartered Hong Kong, who have experienced the application of the analogue Hong Kong Dollar in the relevant scenarios. The event was organized by the Hong Kong Association of Banks (HKAB) in collaboration with the Hong Kong Association of Banks (HKAB).
Campus - Interactive seminar with teachers and students of the School of Financial Technology of the University of Hong Kong to enhance students' understanding of the central bank's digital currency. Teachers and students also had on-site experience of simulated digital Hong Kong dollar to purchase lunch in offline payment mode.
Eatery - A small-value transaction was conducted at Starbucks, a subsidiary of Maxim's Group, to test the performance of a simulated digital Hong Kong dollar in a high-volume transaction scenario.
Staff Bazaar - To test the performance of analog digital Hong Kong dollars without cell phone network, a number of small traders and over a hundred staff members conducted transactions with analog digital Hong Kong dollars at the Staff Mid-Autumn Bazaar.
Standard Chartered Hong Kong said it is consolidating the data from the relevant tests and will announce the detailed results at a later date.
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.
Standard Chartered Hong Kong and Giesecke+Devrient have recently completed trials for the HKMA's Digital Hong Kong Dollar Pilot Program. These tests and experiential activities covered a range of application scenarios, including public transportation, restaurants, small businesses and university campuses.
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.
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.
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.
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.
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.
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.
Falcon Feedsio, a cyber security platform, posted on social media that Cyberport Hong Kong had been hacked. Hackers had stolen up to 400GB of personal data of Cyberport's start-up staff, including proof of identity documents. The hackers are now demanding US$300,000, equivalent to HK$2.35 million, for the information. The Office of the Privacy Commissioner for Personal Data said today (7) that it had received notification of the data leakage incident on August 18.
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.
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.
The Hong Kong Animal Adoption Association (HKAAA) will be organizing the "HKAAA@Cyberport Mall: Celebrate Summer with Dogs" event on July 22. The event will include pet adoption, pet training, and handicraft workshops, among other activities. Whether or not you have a pet, everyone is welcome to participate and enjoy the event with their family. The event provides an opportunity to find a furry family member.