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Hong Kong Monetary Authority: Cross-border Data Verification Platform Establishes Blockchain Nodes in Hong Kong and Shenzhen
Summary: According to Caixin, the Deputy Chief Executive of the Hong Kong Monetary Authority, Eddie Yue, announced that the 'Cross-border Credit Information Exchange' pilot program scheduled for 2024 will be regularized. The pilot program covers the Greater Bay Area and will first be implemented in Hong Kong and Shenzhen, with participation from local banks like HSBC, ...
According to Caixin, the Deputy Chief Executive of the Hong Kong Monetary Authority, Eddie Yue, announced that the 'Cross-border Credit Information Exchange' pilot program scheduled for 2024 will be regularized. The pilot program covers the Greater Bay Area and will first be implemented in Hong Kong and Shenzhen, with participation from local banks like HSBC, Standard Chartered, and Bank of China Hong Kong, as well as 3 local credit agencies. The pilot program has incorporated the Shenzhen-Hong Kong cross-border data verification platform, which establishes a blockchain node in each city. Users can independently obtain personal or corporate data from data providers, upload it to the platform, and generate a 64-bit hash code using encryption algorithms. The receiving party in the cross-border transaction matches the hash code to ensure data integrity and prevent tampering.
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Link: Hong Kong Monetary Authority: Cross-border Data Verification Platform Establishes Blockchain Nodes in Hong Kong and Shenzhen [Copy]
