In the midst of an accelerated digitalization of the global economy, the rise of digital payments and Central Bank Digital Currencies (CBDCs) are driving the transformation of the global financial ecosystem. More than 110 countries, which account for over 95% of global GDP, are exploring the potential of CBDCs.1 Among them, 18 of the G20 countries are currently at an advanced stage of CBDC development.2
In Hong Kong, the Government of the Hong Kong Special Administrative Region has launched various initiatives with an aim of driving a widespread adoption of digital payments across industries. These include the Faster Payment System (FPS) and the Common QR Code Specification for retail transactions, and there are more to come - the city has launched the trial of e-HKD and joined the cross-border multi-CBDC pilot which aims to connect economies through CBDCs. In short, businesses and consumers can benefit from a more efficient payment experience, while cross-boundary transactions could be better facilitated.
In this panel discussion, panellists will discuss the hottest trends and initiatives in this rapidly expanding field, with a particular focus on such development in Hong Kong. Potential benefits of digital currencies and payment solutions, as well as some major implementation challenges, will be discussed. The panel will also share their insights into how the latest technologies and practices such as blockchain and the Internet of Things are transforming business activities and consumer behaviour.
Don't miss out on this exciting opportunity to learn more about the future of finance in Hong Kong and beyond.
FSDC Panel
Date: 25 April 2023 (Day 2)
Time: 5:25-6:05pm (HK Time) / 10:25-11:05am (UK Time)
Topic: CBDC and Digital Payment – Trends and Developments in Hong Kong
Other distinguished speakers in the panel include:
- Andrew Weir, Senior Partner, Hong Kong & Vice Chairman, KPMG China, KPMG (See bio)
- Benedicte Nolens, Head of the BIS Innovation Hub (See bio)
- Tim Bailey, Vice President of Global Sales, Red Date Technology (See bio)
Moderator:
- King Au, Executive Director, FSDC (See bio)
More details on: https://www.cityweekuk.com/
