Chinese University received $ 20 million for improvements in electronic payments

The Hong Kong house of studies agreed to the funds to develop the security capabilities within the electronic system

The University of Science and Technology of Hong Kong, located in China, received a budget of 20 million dollars that will be used to improve the security of electronic payment systems.

In particular, the School of Business of the institution was allied with the University of Hong Kong (HKU), theChinese University of Hong Kong (CUHK) and theUniversity of the City of Hong Kong (CityU) to develop this project .

It is also planned to study the different applications of blockchain and how to make Hong Kong a center of financial technology for the world.

The coordination of this research will be carried out by Tan Jaiyin, who is known in China for his work “Strengthening the strategic position of Hong Kong as a regional and international business center.”

The focus will be on the blockchain, network security and artificial intelligence (AI). It was also confirmed that the banks will have a certain participation in view that the study will explore the digital currencies and the services of design and distribution of financial products.

K. Tovar

Source: Cointelegraph

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