ASTRI’s Cervical Cancer Screening Management innovation honoured at Hong Kong ICT Awards 2019

  • [4 April 2019, Hong Kong] The Cervical Cancer Screening Management System (CCSMS) developed by the Hong Kong Applied Science and Technology Research Institute (ASTRI) has won the Smart Living (Smart Healthcare) Silver Award at the Hong Kong ICT Awards 2019. The awards presentation ceremony, officiated by Mrs Carrie Lam – Chief Executive of Hong Kong SAR – took place on 4 April 2019.

    ASTRI’s CCSMS is a convenient, effective and accurate scalable computer-aided diagnostic platform. The CCSMS application enables the user to process and view medical images from different vendors and image formats, provides diagnosis recommendations for the doctor’s reference. It also allows healthcare professionals to have remote medical diagnosis. The solution has been commercialised through one of the largest diagnostic service providers in the Mainland China and Hong Kong.

    Health Technologies (HealthTech) form one of the five pillars in ASTRI’s innovation strategy. Commenting on this award-winning project, ASTRI’s CEO Mr Hugh Chow said, “Our HealthTech strategy aims to increase the efficiency of healer services, enhance and personalise medical services, and ultimately improve the quality of people’s lives. Through new applications of CCSMS, ASTRI works to contribute the improvement in Hong Kong’s healthcare industry and positively influence the city’s technological competence – for the benefit of its people.”

    The Hong Kong ICT Awards was established in 2006 which aims at recognising and promoting outstanding information and communications technology (ICT) inventions and applications, thereby encouraging innovation and excellence among Hong Kong’s ICT talents and enterprises in their constant pursuit of creative and better solutions to meet business and social needs.

    ASTRI’s Cervical Cancer Screening Management innovation has been honoured at the Hong Kong ICT Awards 2019

    ASTRI takes part in CCBN 2019 – the leading international expo of Radio and TV networks

  • Taking part in the 27th International China Content Broadcasting Network Exhibition (CCBN) held in Beijing from 21-23 March 2019, ASTRI promoted its latest innovations in digital video production,  including Ultra-High-Definition video processing and AI-based video production solutions. The expo was a great platform for ASTRI to engage and collaborate with local and international experts and researchers from various application industries.

    In 2016, ASTRI established a joint laboratory with the Academy of Broadcasting Science (ABS), a subsidiary of the State Administration of Press, Publication, Radio, Film and Television, to promote technical standards and applications in the field of ultra-high definition video. At the exhibition, the two sides exchanged views on advancing this partnership to the next level through the joint laboratory.

    ASTRI takes part in CCBN 2019 – the leading international expo of Radio and TV networks

    CCBN is the largest exhibition of broadcasting industry the in the Asia-Pacific region. Drawing leading ecosystem players, it is also the world’s leading digital TV and broadband network industry event. The exhibitors and forum participants showcased a series of innovations and exchanged ideas in the event, including media convergence, next-generation ICT solutions, radio-TV and other converged media, smart broadcasting, artificial intelligence,  5G, cloud computing, big data, Internet of Things, Ultra-High Definition display, Virtual Reality (VR), Mixed Reality (MR), and deep learning applications.

    ASTRI is showcasing its latest technological achievements in two leading exhibitions in Shanghai

  • ASTRI is showcasing its latest technological achievements in two leading exhibitions in Shanghai – Vision China (Shanghai) 2019 and Laser World of Photonics China 2019. Taking place at Shanghai New International Expo Centre (SNIEC) from 20-22 March 2019, the exhibition is a leading international platform for innovations in Opto-electronics and Sensing technologies.

    ASTRI’s Intelligent Sensing Technology System team is showcasing a range of cutting-edge technologies, including 3D Automated Optical Inspection System, UV Fluorescence Analyser for Jewellery, LCoS spatial light modulator device, optical beam steering module for advanced displays, laser windshield head-up display (HUD), large FOV head-mount display (HMD) and many others. Participating in this mega event amid the presence of leading experts and researchers from all over the world, ASTRI is supporting the industry’s Industry 4.0 and Smart City development efforts.

    ASTRI’s Intelligent Sensing Technology System team pursues the development of intelligent tools and solutions that support Smart City and development as well as Smart Manufacturing in Hong Kong and beyond. Fully aligned with the Hong Kong Government’s Smart City development blueprint and the Greater Bay Area development priorities, ASTRI strives to enhance Hong Kong’s global competitiveness in technology-based industries through applied research.

    ASTRI is showcasing its latest technological achievements in two leading exhibitions in Shanghai
    ASTRI is showcasing its latest technological achievements in two leading exhibitions in Shanghai
    ASTRI is showcasing its latest technological achievements in two leading exhibitions in Shanghai

    ASTRI leads in 5G and Cellular Vehicle-to-Everything (C-V2X) technologies, joins Mobile World Congress in Barcelona for the 8th Year

  • [25 February 2019, Hong Kong] ASTRI is showcasing a series of its latest 5G communications technologies at the Mobile World Congress Barcelona 2019 from 25-28 February 2019. Collaborating with Anktion (Fujian) Technology Co. Ltd. (previously known as Sunnada Network), Intel Corporation, Quanta Cloud Technology (QCT) Inc, Fu Huake Precision Industry (Shenzhen) Co. Ltd. (a subsidiary of Foxconn Industrial Internet Co. Ltd.), Rohde & Schwarz, Keysight Technologies and Spirent Communications, ASTRI is performing joint technology demonstrations/showcases at multiple partners’ booths.

    MWC Barcelona is the largest mobile event in the world, bringing together the latest innovations and leading-edge technology from more than 2,400 leading companies, assembling today’s visionaries to explore the hottest topics influencing the industry.The theme of this year’s event is ‘Intelligent Connectivity – the term which uses to describe the powerful combination of flexible, high-speed 5G networks, the Internet of Things (IoT), artificial intelligence (AI) and big data.

     

    ASTRI’s Communications Technologies R&D team, from left: Alex Mui, Director of Networking Software; Justin Chuang, Vice President of Next Generation Network, Eric Tsang, Director of Baseband solutions; and Victor Kwan, Deputy Director, 5G Wireless Systems
    ASTRI is performing joint technology demonstrations at Intel’s booth
    ASTRI is showcasing its 5G micro cell and Cloud-Radio Access Network (C-RAN) base station architectures with partners’ Remote Radio Unit (RRU) at the Hong Kong Technology Pavilion

     

    Technologies that ASTRI is showcasing at the MWC Barcelona 2019 include:

    5G Micro Cell

    ASTRI’s 5G micro cell provides a low-power and cost-efficient solution using NXP LX2160A ARM processors. The solution includes ASTRI’s ARM-based 5G physical layer software. ASTRI also realises CU-DU splitting with data path acceleration on LX2160A to support high throughput non-standalone (NSA) deployment.

    Two demonstrations are being presented on the show:

    • The first demonstration showcases ASTRI’s 5G micro cell ARM-based physical layer integrated with Fu Huake’s 5G eCPRI Remote Radio Unit (RRU). The solution can also be connected to Anktion’s 5G CPRI RRU with PCIe-CPRI conversion card. Keysight DSAV334A Infiniium V-Series Oscilloscope and 89600 VSA software for 5G NR modulation analysis will be used to demodulate and verify the four-layer 256QAM 5G NR standard compliant signal.
    • The second demonstration showcases ASTRI’s NSA micro cell with CU-DU splitting architecture. ASTRI has integrated NSA Central Unit (CU) on NXP LX2160A with data path acceleration. The CU connects to 4G and 5G Distributed Units (DUs) with up to 2 Gbps eMBB (enhanced Mobile Broadband) throughput for 5G traffic.

     

    5G Cloud Radio Access Network (C-RAN) Base Station

    ASTRI’s 5G C-RAN base station includes the L1 design based on Intel Xeon processor, integrated with Aricent L2/3, Anktion’s 5G CPRI RRU with PCIe-CPRI conversion card, and Fu Huake’s 5G eCPRI RRU. With ’STRI’s leading L1 design such as FPGA based LDPC decoder and up to four layers MIMO, the 5G C-RAN base station supports up to 2 Gbps throughput. The total solution offers a complete flexible and scalable 5G sub-6GHz base station reference design for Original Equipment Manufacturers (OEM) and Network Equipment Providers (NEP) for developing commercial-grade products – enabling them to effectively seize market opportunities. In the demonstration, ASTRI C-RAN base station forms 5G Enhanced Mobile Broadband (eMBB) data link with ASTRI UE 5G emulator. Radio units are based on Anktion’s 5G CPRI RRU and PCIe-CPRI conversion card solution. The 5G standard compliant signal is verified with an R&S RTO2000 oscilloscope and the R&S VSE-K144 vector signal explorer software for 5G NR measurements.

    Narrowband Internet-of-Things (NB-IoT) Base Station

    ASTRI’s NB-IoT base station solution is powered by its NB-IoT L1 software. The software is based on cost-efficient and low-power NXP BSC913x System-on-Chip (SoC). The solution has been integrated with Aricent’s L2/3 protocol stack and Anktion’s Operations Management and Maintenance (OAM) system to provide a complete NB-IoT base station reference design. The on-site demonstration includes the integration of ASTRI’s NB-IoT base station with a commercial NB-IoT EPC as well as NB-IoT dongles to support the end-to-end network NB data streaming. This reference design can support China Mobile NB-IoT QSite requirements and is ready for commercialisation.

    5G Standalone (SA) Core Network with Service Based Architecture (SBA)

    5G Core Network provides the essential flexibility to support different 5G applications and scenarios. ASTRI is performing live demonstration of its 5G Standalone (SA) Core on Intel x86 server. ASTRI’s 5G SA core complies with the new network architecture in 3GPP release 15 standards, with new capabilities of Control User Plane Separation (CUPS), Distributed User Plane (UPF), Service-based Architecture (SBA) support and flow-based QoS.  ASTRI’s 5G SA core can scale up to 200Gbps on a single x86 server. It supports cloud native deployment with containers support, cloud scale load balancing and scaling, log/metrics/alarms management as well as visualisation.

    Cellular Vehicle-to-Everything (C-V2X) Software System with Roadside Video Analytics for Road Safety and Traffic Management

    C-V2X technology plays a key role in facilitating interactions between vehicles, road users, and roadside infrastructure – enabling smart mobility applications.  ASTRI will demonstrate its C-V2X Software System that leverages capabilities such as rapid object recognition (e.g. pedestrians) and traffic situation detection. Using C-V2X technology, the system can detect imminent danger on roads, and issue real-time alerts like pedestrian crossing to drivers.  To minimise the latency, the video analysis algorithm is executed on ASTRI’s C-V2X Edge system, and the results are communicated between multiple C-V2X Road Side Units (RSUs) through direct Vehicle-to-Infrastructure (V2I) communications. This technology enhances road safety and traffic management, and brings significant benefits to road users and ordinary residents.

    Next-Generation Central Office

    As an ecosystem partner on the Next-Generation Central Office (NGCO) supported by Intel and QCT.  ASTRI incorporated the Next Generation Mobile Core Network into the NGCO architecture. It enables network transformation of traditional central offices at both the core networks and the edge to pave the way for 5G. For more details, please visit the NGCO showcases and refer to the recently published whitepaper: https://goo.gl/3bZzbc .

    China Mobile Hong Kong Partners with ASTRI and HKSTP to Accelerate Smart City Development in Hong Kong

  • First Network Provider in Hong Kong to Complete 5G Commercial Equipment Base Station Field Testing; Plans to Conduct the Autonomous Vehicle Trial, as Hong Kong Moves towards the 5G Era

    China Mobile Hong Kong (CMHK) and Hong Kong Applied Science and Technology Research Institute (ASTRI) today announced the signing of a strategic agreement to collaborate in research and development of 5G technology, autonomous vehicles, artificial intelligence, Internet of Things (IoT) data exchange, and other technologies to help accelerate Hong Kong’s development in establishing a Smart City. At the same time, CMHK is partnering with Hong Kong Science and Technology Parks Corporation (HKSTP) on various 5G technology-related projects at Hong Kong Science Park including an autonomous vehicle trial.

    As one of the city’s leading mobile communications brands, CMHK has been supporting the development of Smart City in Hong Kong. Through the strategic cooperation with ASTRI, Hong Kong’s largest applied science and technology research centre, CMHK will fund ASTRI’s research and development of an edge computing platform, which will potentially overcome the inadequacies of cloud computing, while enabling even faster data processing and analysis to support ultra-low latency applications such as autonomous vehicles. CMHK and ASTRI also plan to conduct an autonomous vehicle trial over 6 to 12 months at Hong Kong Science Park, to facilitate the system’s awareness monitoring within the 5G networks and to initiate research on related technologies.

    Announced earlier, CMHK is the first network provider to complete the Commercial Equipment Field-Testing of 28GHz 5G base stations and antenna in Hong Kong, carried out at Science Park. In these tests, the 5G network was connected to the 5G routers, which allowed non-5G mobile phones to connect to the Internet with connection speeds of up to 500Mbps*. The test was also demonstrated at the “Smart@Hong Kong: Our Smart City Journey” Conference today, symbolising a milestone in the collaboration between CMHK and HKSTP on 5G technology development. In addition, CMHK plans to relocate its 5G Innovation Centre “Hong Kong Open Lab” to Hong Kong Science Park in the first quarter of 2019, to join the innovation and technology ecosystem at the Park and further develop 5G mobile service applications.

    CMHK is also actively exploring other innovative 5G-related applications, such as applying AR/VR in entertainment and education. Other applications, such as palm print and facial recognition systems that apply biometric and AI image analysis, are expected to be utilised in payment tools and high-security authentication systems in the future.

    Mr Sean Lee, Director and Chief Executive Officer of China Mobile Hong Kong, said: “We are pleased to collaborate with ASTRI and HKSTP. The promotion and development of 5G are important elements in establishing Hong Kong as a Smart City. We proactively cooperate with different industries and apply 5G to advance our designs and services to promote Smart City development in Hong Kong. Concurrently, we also promote the nurturing of next-generation innovation and technology talents. Last October, the China Mobile OneNET Start-ups Marathon Competition was introduced in Hong Kong for the first time. We hope to create more opportunities for local talents to join the science and technology industry through this competition. We also hope to take the lead and attract more local companies to join and support those who have dreams in innovation. We encourage young people in Hong Kong to join the creative and innovation industry, cultivate more talent for Hong Kong, and contribute to the establishment of Hong Kong into a technology-leading smart city.”

    Mr Hugh Chow, Chief Executive Officer of ASTRI, said: “The evolution of Smart City will bring significant opportunities for sustainable economic development in Hong Kong and our neighbouring areas. I believe our collaboration with CMHK will deliver fruitful results, advance the development of the innovation technology ecosystem, establish Hong Kong as an international innovation centre, and steer towards the Hong Kong Government’s innovation-led vision.”

    Mr Albert Wong, Chief Executive Officer of HKSTP, said: “Hong Kong Science Park provides an ideal living laboratory for innovative solutions and leading technologies, with Smart City being one of the strategic focus areas of HKSTP. We are pleased to see that 5G technology has achieved positive trial results at the Park. We will continue to work with our partners in the innovation and technology ecosystem to promote the co-creation and applications of 5G technologies in various scopes, and achieve Hong Kong’s vision of a Smart City through joint efforts. ”

    CMHK established the 5G Innovation Centre Hong Kong Open Lab in Kwai Chung in March 2018, and became the first network provider to receive the 5G trial permit in Hong Kong. The 5G test results were announced on 27 July 2018, with CMHK the first network provider in Hong Kong to successfully complete end-to-end 5G network testing (client terminal to application) – using 5G routers to allow the 5G network to browse Internet websites. CMHK will soon launch several new technologies to promote smart city development in Hong Kong, and shape the future with 5G network.

    *The data is according to the Office of Communications Authority’s OFCA speed test.

    China Mobile Hong Kong, Hong Kong Applied Science and Technology Research Institute (ASTRI), and Hong Kong Science and Technology Parks Corporation (HKSTP) today announced multiple collaborations related to 5G at the “Smart@Hong Kong: Our Smart City Journey” Conference.

     

    CMHK and ASTRI plan to conduct an autonomous vehicle trial at Hong Kong Science Park

    Forum hosted by ASTRI and HKSTP explores a Connected Hong Kong Powered by 5G & IoT

  • ASTRI and the Hong Kong Science and Technology Parks Corporate (HKSTP) co-organised a forum on 5G and IoT technologies on 11 March 2019. The forum took place at the Charles K. Kao Auditorium in Science Park. Mr Hugh Chow, Chief Executive Officer of ASTRI; Mr George Tee, Chief Technology Officer of HKSTP; senior leaders from Government and industry players; and other key figures from the technology and communications industry including HKT, China Mobile Hong Kong, Hutchison Hong Kong and Huawei were present on the occasion.

    In his opening speech, Mr Hugh Chow said, “With 5G and IoT, Hong Kong has an enormous opportunity for sustainable economic growth. People, devices, knowledge and data are all going to be more interconnected than ever before.” He added that “The world around us is evolving with 5G and IoT technologies, and ASTRI is proud to be a part of that revolution.”

    As a pioneer in next generation network R&D, ASTRI pursues the latest advancements in 5G and IoT, local and regional use cases, and multifaceted applications for various sectors. Over 400 participants in the forum listened to industry stalwarts and technology experts, and experienced demonstrations of ASTRI’s most exciting innovations in this area. The forum facilitated exchange of deep insights and practical ideas – enabling collaborations and interactions within the ecosystem. Hong Kong is all geared up for the upcoming 5G revolution, so is ASTRI!

    Secretary for Financial Services and the Treasury visits ASTRI and inspires its FinTech R&D team to continue the great work

  • The HKSAR Government’s Secretary for Financial Services and the Treasury, Honourable Mr James Lau, JP, visited ASTRI on 4 January 2019, leading a delegation of Financial Services and the Treasury Bureau (FSTB) officials. The Secretary exchanged views and opinions on FinTech development in Hong Kong and received an update on ASTRI’s latest FinTech R&D endeavours. Mr Hugh Chow, Chief Executive Officer of ASTRI, welcomed the FSTB delegation to the premises of Hong Kong’s largest applied R&D centre. Dr MeiKei Ieong, Chief Technology Officer and Dr Martin Szeto, Chief Operating Officer, along with other senior executives of ASTRI, were also present on the occasion.

    The delegation witnessed presentations and demonstrations from ASTRI’s FinTech R&D teams focusing on Cybersecurity, Blockchain, Data Analytics, as well as the future FinTech development trend in Hong Kong. The delegation was also appraise of ASTRI’s collaborations across the ecosystem including partnerships with regulators, industry players, technology developers, and talent development schemes.

    Commenting on the visit, Mr Hugh Chow said, “Hong Kong, as a leading global financial centre with a strong ICT sector, is an ideal nurturing ground for FinTech excellence. ASTRI will continue to explore the FinTech development for Hong Kong. It has been such a great honour to share our inspiration and work with the Honourable Secretary for Financial Services and the Treasury.” On behalf of the entire ASTRI team, Mr Chow thanked Mr Lau and the Bureau for “believing in ASTRI and always supporting us with great conviction.”

    Secretary for Financial Services and the Treasury visits ASTRI and inspires its FinTech R&D team to continue the great work

    ASTRI’s R&D experts share latest developments in 3D Machine Vision at C-TOUCH & DISPLAY SHENZHEN 2018

  • Dr CJ Tsai, Director of Intelligent Sensing Technology System (ISTS) of ASTRI, was invited to share ASTRI’s latest developments in 3D Machine Vision technologies at C-TOUCH & DISPLAY SHENZHEN 2018 held on 22 November 2018 in Shenzhen Convention & Exhibition Centre. The participating team from ASTRI showcased their strong competence in 2D/3D imaging sensing technologies for manufacturing, successful industry application cases such as 2D/3D automatic optical inspection machine, 2D/3D glass defect inspection machine, and intelligent industry robot technologies.

    In his keynote presentation to the audience, Dr Tsai shared practical insights in the field of manufacturing industry, exploring the future technological development trends of artificial intelligence, deep learning based machine vision and related industrial inspection applications.

    New World Collaborates with ASTRI to Create Hong Kong’s First Property-Purchase Blockchain Platform With BOCHK as First Participating Bank

  • Saving Time and Resources through PropTech in Smart City with Property-Purchase 2.0

    (20 February 2019, Hong Kong) New World Development Company Limited (NWD) today announces the creation of Hong Kong’s first property-purchase blockchain platform, in collaboration with Hong Kong Applied Science and Technology Research Institute Company Limited (ASTRI). Bank of China (Hong Kong) (BOCHK) is the first bank to participate and apply the new platform to its services. Advanced blockchain technology allows the platform to provide an all-in-one support service to buyers, banks and related bodies. With the collaboration, PropTech (Property Technology) is the breakthrough that will fundamentally reshape Hong Kong’s real estate industry, saving time and resources in the property-buying process. First-time buyers will soon enjoy a fast and convenient user experience in the new era of Property-Purchase 2.0, coming on-stream in the second quarter of 2019.

    Building on the success of FinTech in the financial sector, PropTech heralds a revolution in Hong Kong’s real estate industry. Mr. Adrian Cheng, Executive Vice-chairman and General Manager of NWD, said, “In the past 30 years, the real estate market has very rarely seen high technology introduced into the purchasing process. Traditionally, buyers, real estate developers, banks and law firms all work separately – until now, there has been no one-stop platform to connect all parties. Today, NWD and ASTRI have created the first and brand-new cross-sector platform, with BOCHK as the first participating bank. The new PropTech platform’s greatest advantage is to open up the entire real estate industry chain; it also marks the first implementation of blockchain technology into the real estate industry. This is a landmark in revolutionising the traditional model while remaining fully in sync with the government’s vision in creating a smart city and a new era of PropTech.”

    Hugh Chow, Chief Executive Officer of ASTRI, said, “Distributed Ledger Technology (DLT – also known as Blockchain technology) could fundamentally change the dynamics of the property sector – making it more efficient, resilient and reliable. Blockchain is a major focus area within ASTRI’s overall R&D efforts – catering to FinTech applications and other industrial sectors. We are pleased to work with New World Development in leveraging Blockchain technology, relying on PropTech as a strong boost to the innovation-led growth of Hong Kong’s property sector. It will help to enhance the operational efficiency of developers, bring convenience and security to consumers and benefit the entire ecosystem of the property sector.”

    Mrs Ann Kung, Deputy Chief Executive of BOCHK, said, “BOCHK is committed to supporting and driving the development of financial technology in order to provide convenient services for the general public. NWD has collaborated with ASTRI to introduce the first property-purchase blockchain platform in Hong Kong, which helps enhance customer experience by offering a seamless integration of mortgage services in our customers’ property purchase journey. We are delighted to be the first bank in Hong Kong to use the platform. Going forward, we will continue to drive innovation and promote customer-oriented Fintech services.”

    The revolutionary advantage of integrating blockchain technology into the property-buying platform is that it allows an unprecedented reduction of time and work between signing the provisional agreement and finalising the deal. The one-stop blockchain platform can save up to 8 hours on a transaction by integrating all the time-consuming intermediary steps: the filling-in of long and complex application documents, the tedious back-and-forth between banks and lawyers, and the time-consuming research into information about mortgage loans. Moreover, the one-stop platform benefits service providers and saves around 47 hours of work. The entire industry chain will save around 55 hours in total.  

     

    Mr Adrian Cheng (Centre), Executive Vice-chairman and General Manager of NWD, Mrs Ann Kung (Right), Deputy Chief Executive of Bank of China (Hong Kong), and Mr Hugh Chow (Left), Chief Executive Officer of Hong Kong Applied Science and Technology Research Institute, announced the collaboration to work together in the new era of ‘Property-Purchase 2.0’.

     

    Six Key Advantages of Combining PropTech and Blockchain Technology

    1. 24/7 Streamlined Service with no Restrictions on Time or Location  

    With the aid of the new high-end encrypted network, buyers, property developers, banks and related bodies will break away from traditional procedures and will benefit from the seamless integration of each element in the whole industry chain. Completely free from location restrictions, buyers will be able to enjoy a far faster and more user-friendly service with easy access to all information, also benefitting from regular status updates on mortgage applications and procedures.

    2. Saving 6 Hours in Mortgage Application Procedures
    First-time buyers are usually directly involved in comparing mortgage proposals from at least four banks, a process which requires repetitive, complex and extensive paper work. The blockchain platform will send the purchaser’s authorised, encrypted and digitally signed provisional agreement to the selected banks, saving buyers at least six hours of following up with the different banks, and thus dramatically shortening the time spent in the application process.

    3. Instant Intelligence – Keeping Buyers on Track
    First-time buyers have to sign legal documents and complete payments in a given time-frame. It is easy to miss transfer deadlines or leave out certain steps, and this can lead to unnecessary loss and delay. Buyers also need to follow up with lawyers to get updates on status, each transaction needing at least 15 phone calls on average, thus resulting in considerable inconvenience to buyers. The blockchain platform incorporates procedural notifications to remind buyers of important dates such as the settlement of deposits, key agreement dates, and final submission of formal paperwork. The new platform allows a brand-new hassle-free purchase experience for all customers, where buyers can easily access instant updates and relevant information, saving around 2 hours during the process.

    4. Quick Digital Verification of Buyer’s Information
    Under the old model, developers, banks and related bodies each needed to input the buyers’ information and verify it manually and separately. All information required painstaking input and verification by hand. But in the new system, buyers can authorise banks and related bodies to access their securely encrypted information through the blockchain platform. This can drastically reduce time and procedures, making the process far more efficient.

    5. Environmentally Friendly and Paperless Procedures
    In the past, whether for bank mortgage application, a lawyer’s preparatory document, or a developer’s progress report, if buyers were applying mortgages with four different banks, it was necessary to print a large number of documents involving at least 120 sheets of paper. With the introduction of the blockchain platform, all parties can reduce unnecessary document printing, and the entire process become far more environmentally friendly, while saving precious time and resources.

    6. Open Up More Exciting Possibilities for the Real Estate Industry
    NWD is active in reforming traditional industries. Last year, we created a brand-new online registration service for first-time buyers. We introduced initial deposit by credit card to replace cheque payment, thus eliminating wasted time for buyers forced to wait in bank queues. In these ways and more, our blockchain platform will reshape the whole real estate industry and establish a new era: Property-Purchase 2.0.

    BOCHK is the first bank to participate in the property-purchase blockchain platform in Hong Kong. NWD invites other banks to join the platform so that a wider range of mortgage plans can be offered to new NWD property buyers, satisfying their diverse needs more effectively.

    Safe and Reliable Blockchain Technology  
    Blockchain is an innovative technology. It utilises a distributed system to verify each transaction so that transfers are guaranteed to be safe and secure. Information held on a blockchain exists as a database, shared by buyers, sellers, banks and lawyers. The records are truly public, transparent and traceable so it is difficult for a transaction record to be corrupted. Information security is thereby greatly enhanced.

    ASTRI joins HKU Space to help build Hong Kong’s FinTech talent pipeline

  • Grooming the next generation of technology talents is one of the biggest challenges facing Hong Kong. ASTRI, the largest applied R&D institution in the city, takes on this challenge as part of its overall mission to enhance Hong Kong’s competitiveness in the technology-based sectors. A great milestone to that end accomplished today with ASTRI partnering with HKU Space. Dr Lucas Hui, ASTRI’s Senior Director of Security and Data Sciences, joined the MOU signing ceremony for this partnership. Mr Charles Mok, JP, Legislative Council Member; Professor William Lee, Director of HKU Space; and Mr Frankie Li, Director & Threat Analyst of DTL, joined the occasion too.

    Through this partnership, ASTRI’s R&D experts will teach and train the students with practical and industry-relevant content. ASTRI’s Cyber Range facility will also allow the students for hands-on simulated exercise.

    With its unique position within the FinTech ecosystem, ASTRI is connected to both the supply and demand ends of the value chain. ASTRI not only provides FinTech and Cybersecurity training to industry professionals and rising talents, it also uses the network across the industry and universities, to inspire potential talents to embrace FinTech as an inspiring career choice.