|Project Title:||e-Cheque Apps Development Cloud|
|Hosting Institution:||LSCM R&D Centre (LSCM)|
|Abstract:||Initiated by Hong Kong Monetary Authority (HKMA), e-Cheque is expected to roll out in Hong Kong in the first quarter of 2016. As a newly introduced payment method, although more convenient and efficient than paper Cheque, e-Cheque will need to go through an inception period before it will gain wider acceptance by both business and general public. The objective of this project is to research and develop technologies to facilitate financial institutions, payment service providers and businesses to build applications on e-Cheque, and as a result promote the use of e-Cheque in Hong Kong.
e-Cheque, although a different concept from digital currency like Bitcoin, shares similar security concern like double spending. This project will research the Block Chain concepts and the application of Proof-of-Work in the e-Cheque application environment. Research outcomes will be disseminated through an “e-Cheque Apps Development Cloud”. To facilitate apps development, the Cloud also develops and provides APIs and software building blocks for other essential components such as e-Cheque API, Encryption & Proxy Re-encryption, Key Management, e-Cheque Wallet Components, e-Cheque Forensics, Sanity Utilities for e-Cheque clean-up and a Simulated Platform for testing e-Cheque applications.
This project is expected to boost the development of e-Cheque applications and as such will help promoting the use of e-Cheque, and facilitating new business models and entrepreneurship in e-Commerce/e-Logistics.
|Project Coordinator:||Dr Chung-dak SHUM|
|Approved Funding Amount:||HK$5.5M|
|Project Period:||01 Sep 2015 - 28 Feb 2017|