Hong Kong University Receives $20 Mln Research Grant for Payment Systems, Blockchain

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The Hong Kong University of Science and Technology Business School has received a $20 million research grant to improve the security capabilities of electronic payment systems, China News reported Aug. 12.

The Hong Kong University of Science and Technology (HKUST) Business School has reportedly partnered with the University of Hong Kong (HKU), the Chinese University of Hong Kong (CUHK), and the City University of Hong Kong (CityU) to work on the research project.

Apart from the enhancement of the electronic payment security system, the parties will also explore blockchain technology applications, and discuss the possibility of Hong Kong’s transformation into a global financial technology hub.

The interdisciplinary research will reportedly be coordinated by professor Tan Jiayin, who is known for his work on the “Strengthening Hong Kong’s Strategic Position as a Regional and International Business Center” with a focus on blockchain, network security, and artificial intelligence (AI). He welcomed the participation of banks as the research will also explore digital currencies and