#Blockchain technology has been growing in prominence in tech #innovations across the world, and there has been a rapid increase in its applications in FinTech. #ASTRI has been at the forefront of the #fintech revolution, having cooperated with many local banks to launch multiple blockchain projects, all of which are promoting the development of financial technology.
In a Sing Tao Daily interview, Dr Lucas Chi-Kwong Hui, ASTRI’s CTO, points out that blockchain technology will help speed up the verification process for #banktransactions, and is expected to facilitate cross-border transactions too.
Dr Hui also draws attention to the creation of a Central Bank Digital Currency (#CBDC) and a Commercial Data Interchange (#CDI), as laid out in the #FinTech2025 strategy announced by the Hong Kong Monetary Authority (HKMA). These initiatives will require #data transactions to be completed rapidly, and in different locations. Due to the large number of #regulatory procedures involved, multiple verifications will be required. He notes that blockchain is very suitable for managing this complex transaction process.
Sing Tao Daily Interview: https://bit.ly/3oDmauA
#TechforImpact #blockchain #financialtechnology
Insurer of the Future Summit 2022
29/11/2022
