Hong Kong's HKUST Business School, which is constantly ranked as one of the world’s biggest economic powerhouses, was granted $20 mln to explore Blockchain-based payment applications as a part a large research project on e-commerce. By capitalizing on Blockchain, Hong Kong wants to solidify its status as a global financial center. The aforementioned research will be conducted in a tight partnership with two other Chinese universities. Back in July, Hong Kong has also made an announcement about introducing a Blockchain-based finance platform in September in order to boost the local banking industry by increasing automation and improving processing time.
Hong Kong University Receives $20 Mln to Explore Blockchain’s Influence on Electronic Payments