Hongkongers' Money may All Evaporate with Digitalization of HK$? 港幣數碼化,港人積蓄凍過水?By Chapman Chen
Summary: In January, the Hong Kong Monetary Authority and the Bank of Thailand published a report (1) on the application of blockchain or distributed ledger technology and central bank digital currencies on cross-border payments. The Hong Kong Bank and ZA Bank, a virtual China-capital bank, are involved. Meanwhile, the Hong Kong Institute of Bankers (HKIB) onboarded 6 digital banks. When Hong Kong cash is completely replaced by digital HKD, the HK Government can confiscate an