Blockchain
Digital Economy of the Future: FORMS HK Unveils FINNOSpace in Support of the HKMA’s Fintech 2025 Strategy
FORMS HK, a cross-border FinTech Thought Leader, Incubator and Enabler, has unveiled its new FORMS FinTech Innovation Centre (“FINNOSpace”), echoing the Fintech 2025 strategy of the Hong Kong Monetary Authority (“HKMA”). FINNOSpace will help Hong Kong strengthen its position as an international finance hub amid the digital transformation of the finance world.
With access to Hong Kong’s global financial industry expertise and world-class scientific research talents in Shenzhen, China’s innovation engine, the Greater Bay Area (“GBA”) is the ideal springboard for global FinTech innovation. Recognizing its unique potential, FORMS has positioned the new FINNOSpace at the core of its strategy to support the future growth of the industry. FINNOSpace will become a hub to acquire and develop world-class FinTech talents and conduct visionary FinTech research to make Hong Kong the centre of gravity for future innovations. This is in line with the HKMA’s mission to expand the fintech-savvy workforce and nurture the fintech ecosystem. FORMS HK is the first to answer the HKMA’s call for the establishment of more fintech labs to promote fintech development under the Fintech 2025 strategy.
“In today’s digital economy, the world is seeking more from its financial centres than IPOs. FinTech innovation capability is a key enabler for any international hub looking to shape the future of banking and finance, whilst contributing to a more sustainable, inclusive and greener world. At FORMS HK, we believe FINNOSpace will unleash Hong Kong’s potential for the next generation of global banking and finance,” said Alex Chan, CEO at FORMS HK.
“It gives me great pleasure to witness the launch of FORMS HK’s FINNOSpace, a fintech innovation lab established in response to our Fintech 2025 strategy announced in June. The unveiling of FINNOSpace is in line with our carefully devised strategy to expand the fintech-savvy workforce and build a robust fintech ecosystem. The HKMA has every confidence that the setting up of innovation centres and research laboratories like FINNOSpace will foster the development of innovative solutions and create opportunities for fintech talents, and help consolidate Hong Kong’s position as an international finance hub under the new context of a digital economy,” said Nelson Chow, Chief Fintech Officer of the HKMA.
FINNOSpace fosters collaborations and conducts visionary FinTech research
In line with the HKMA’s Fintech 2025 strategy, FORMS HK’s FINNOSpace will work with research partners on five key segments to support FinTech development in GBA and in the global stage. One of the focus areas of the Fintech 2025 strategy is to future-proof Hong Kong for CBDCs. In the Blockchain Innovation Centre, FORMS HK and its research partners will explore the use of digital assets and CBDCs at the wholesale and retail levels, as well as prototype new ways that blockchain technology can be used to manage digital assets. Meanwhile, its Green Finance segment will explore new evolving business and operating models, recommend standards and practices to facilitate financial inclusion, and pilot technologies and practices to automate ESG data collection, insight discovery and regulatory reporting.
In the Digital Experience Studio, FINNOSpace will research client experience trends to uncover the desirable digital experiences needed for financial inclusion, and explore the latest and evolving technologies to further improve and optimise the digital experience. Lastly, FINNOSpace’s Composable Banking CoE arm will be responsible for developing distributed technologies, standards, and components that facilitate open banking and API economy adoption. All four of these segments are supported by a cutting-edge AI and Data Analytics Centre that stimulates technology adoption and enables FinTech applications through data collection, analysis and reporting infrastructure.
Blockchain
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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