{"id":1044,"date":"2016-09-08T08:38:00","date_gmt":"2016-09-08T08:38:00","guid":{"rendered":"https:\/\/blog.holytransaction.com\/2016\/09\/hong-kong-central-bank-will-test-blockchain.html"},"modified":"2023-01-10T01:15:02","modified_gmt":"2023-01-09T23:15:02","slug":"hong-kong-central-bank-will-test-blockchain","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2016\/09\/hong-kong-central-bank-will-test-blockchain.html","title":{"rendered":"Hong Kong Central Bank will test Blockchain"},"content":{"rendered":"<div style=\"clear: both; text-align: center;\"><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Yesterday it was revealed that <b>Hong Kong Central bank <\/b>will<b> test Blockchain<\/b> and distributed ledger applications.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The HK bank, in fact, wants to open a new innovative lab to study it, thanks to the <b>funds received from the government<\/b> to improve its technology standards.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">To do so, the <b>Hong Kong Monetary Authority<\/b> (HKMA) is working on this program with the <b>Hong Kong Applied Science and Technology Research Institute<\/b> (ASTRI).<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<h3 style=\"text-align: justify;\"><b>&#8220;Neutral ground&#8221; Hong Kong central bank will test blockchain<\/b><\/h3>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">In a statement, the HKMA defined their hub is a <b>neutral ground<\/b> for testing this financial technology.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">HKMA chief executive <b>Norman Chan<\/b> &#8211; during a speech he gave at the <b>Treasury Market Summit 2016<\/b> &#8211; <a href=\"http:\/\/www.bis.org\/review\/r160906c.htm\">commented<\/a> that Hong Kong was not moving enough to exploit the FinTech revolution.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><i>&#8220;There is also a quite commonly-held perception that the development of Fintech in the financial services sector in Hong Kong has been slow. I do not subscribe to this view, at least insofar as the banking sector is concerned.&#8221;<\/i><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">In the next weeks HKMA will reveal more details and <b>additional projects<\/b> that will involve the hub: testing solutions that require substantial computing resources; discussions between regulators, incumbents and startups and more.<\/div>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Yesterday it was revealed that Hong Kong Central bank will test Blockchain and distributed ledger applications. The HK bank, in fact, wants to open a new innovative lab to study it, thanks to the funds received from the government to improve its technology standards. To do so, the Hong Kong Monetary Authority (HKMA) is working [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[101,333,336,471,630],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hong Kong Central Bank will test Blockchain -<\/title>\n<meta name=\"description\" content=\"Hong Kong Central Bank plans to test blockchain technology. 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