[Regularization of the Shenzhen-Hong Kong Cross-Border Data Verification Platform Using Blockchain Technology]
Deputy Chief Executive of the Hong Kong Monetary Authority, Howard Lee, stated that the 'Cross-Border Credit Information Sharing' pilot program will be regularized in 2024, covering the Guangdong-Hong Kong-Macao Greater Bay Area, with initial trials in Hong Kong and Shenzhen. The Shenzhen-Hong Kong Cross-Border Data Verification Platform utilizes blockchain technology, with one node set up in each region. Users can upload encrypted hash codes to enable the lawful cross-border transfer of data. Pilot participants include seven banks such as HSBC, Standard Chartered, and Bank of China (Hong Kong), as well as three credit reporting agencies.