With two types of digital transaction system as main drivers, the concept of cashless is transforming how business activities are carried out. The first type, known as an integrated platform, involves a trusted third party (e.g., AliPay, WechatPay, etc.) to help conduct payment transactions. In contrast, enabled by Blockchain or other distributed ledger technology, the second type cuts out the middleman and uses decentralized crypto-currencies (e.g., Bitcoin, Ethereum, etc.) to allow Peer-to-Peer transactions. What are the pros and cons of each system? Which one will fascinate Hong Kong more? Let’s explore.

Faster Payment System (FPS)—claimed to be the world’s pioneering government-initiated platform that allows real-time payments across different banks, e-wallets or other stored value facilities (SVF) anytime, anywhere—was recently launched in Hong Kong. What are the potential benefits and challenges brought forth by such a platform to consumers, merchants, banks, and SVF operators? Is the advent of FPS catalyzing opportunities for disruptive innovations such that HongKongers, still largely relying on cash and Octopus cards, will become more receptive to mobile payments? Explore with us.

Facilitated by social media, KOL (key opinion leader) marketing is becoming a popular means for brands to hit target market. Running a KOL campaign, however, can beget frustration since recruiting fit-to-brand influencers is an intricate process. Besides, influencers’ compensation is hard to measure when their performance is obfuscated by fake followers/engagements. Attempting to alleviate the challenges in KOL marketing, various data-driven platforms powered by AI and Blockchain technology are evolving. Are they promising? Find it out with us.

Dr SUNG Lap Kung, James (宋立功博士)
香港城市大學專業進修學院學術統籌
中國問題專家﹑政論專欄作家﹑公共政策評論員
社會經濟政策研究所主席
邁臻研究中心總監