Smart Contract Platform For Fintech Applications (ART/290CP) | ASTRI - Hong Kong Applied Science And Technology Research Institute Company Limited

Project Title:

Smart Contract Platform for Fintech Applications (ART/290CP)

Project Reference:

ART/290CP

Project Type:

Platform

Project Period:

31 / 03 / 2020 - 30 / 09 / 2021

Funds Approved (HK$’000):

8,050

Project Coordinator:

Mr Jack HO

Deputy Project Coordinator:

Deliverable:

Research Group:

Sponsor:

Tectonic Technology Innovation Company Limited (CS)) (Sponsor)
Nam Wah Intelligent Automation Ltd. (TL) (Sponsor)
Hunan Sunshine Holdings Limited (CS) (Sponsor)

Description:

Today smart contracts are suffering from increasing attack risks and potential logic errors because general programming languages are used. Besides, the current blockchain is not efficient due to the slow virtual machine, thus limiting the efficiency of the smart contract. Therefore, this project will build a set of domain specific languages (DSLs) to compose tailor-made smart contracts for various financial applications. Libraries will be developed with the knowledge extracted from the applications. And, an efficient compiler for the underlying blockchain network will be studied. With the proposed system, ASTRI can build a financial platform to sign and run smart contracts efficiently and accurately for small and medium-sized enterprises (SMEs) in Hong Kong. Besides, the abstract process makes the contract signing extensible for other applications. This leads to other potential collaboration chances in more markets such as mainland China.

Co-Applicant:

Keywords:

More about ASTRI

Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong’s competitiveness through applied research. ASTRI’s core R&D competence in various areas is grouped under five Technology Divisions: Advanced Electronic Components and Systems; Artificial Intelligence and Trust Technologies; Communications Technologies; Innovative Mind; and IoT Sensing and AI Technologies. It is applied across six core areas which are Smart City, Financial Technologies, New Industrialisation and Intelligent Manufacturing, Digital Health, Application Specific Integrated Circuits and Metaverse.

Over the years, ASTRI has nurtured a pool of research, I&T talents and received numerous international awards for its pioneering innovations as well as outstanding business and community contributions. As of 2023/24, ASTRI has transferred more than 1,500 technologies to the industry and has been granted over 1,100 patents in the Mainland, the US, and other countries.

As a Hong Kong R&D centre, one of ASTRI’s important goals is to help customers harness business opportunities from the thriving technology market and increase their competitive strengths. Customers and partners can improve their efficacy by drawing on ASTRI’s expertise and research achievements.