Hang Seng Bank: Has created a private blockchain for token insurance and established a hypothetical digital Hong Kong dollar wallet to manage tokens
Li Wenlong, the director of strategy and corporate development and the office of the CEO at Hang Seng Bank, announced at the Hong Kong Fintech Week forum that the bank's pilot program has created a private blockchain for token insurance and established a hypothetical digital Hong Kong dollar wallet to manage the tokens. The bank has created two use cases, including a merchant reward program and government subsidy expenditures. The former can be programmed to help small and medium-sized enterprises digitize payments with the hypothetical digital Hong Kong dollar, while the latter can easily track the effectiveness, destination, and location of subsidies, including Cyberport and the Chinese University of Hong Kong.
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