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Hong Kong Universities Partner on $20 Million Blockchain Research Grant

The Hong Kong University of Science and Technology Business School recently received a $20 million grant to “improve the security capabilities of electronic payment systems”, reported China News.

The University is partnered with three other schools to realize this application of blockchain technology: The University of Hong Kong, The Chinese University of Hong Kong and The City University of Hong Kong, are all collaborating on this research project.

While they are working on the enhancement of the payment system, they will also explore different applications for blockchain technology and discuss the possibility of transforming Hong Kong into a global FinTech hub.

The continued investment in blockchain technology despite the cryptocurrency market’s downturn is indicative of the public becoming bullish on blockchain technology itself and could mean there will be some exciting developments down the road.