Case Studies

E-Cheque Wallet Application

Hong Kong Case Study

In 2015, the E-Cheque wallet application was launched by The Hong Kong Monetary Authority. This technology was designed to streamline payment processes by negating the need for the physical delivery and presentation of paper cheques, simultaneously propagating the circulation of credit transfer activities.

The E-Cheque Wallet application developed in Hong Kong by LSCM provides a more convenient and efficient platform for e-Cheque transactions. This system carries all the features and benefits of paper cheques, while adding some additional perks: The online format carries enhanced security features to protect sensitive data and reduces the cost of manually processing paper cheques.

Enhanced Security and Additional Features

In contrast to most e-Wallets that use a traditional centralized ledger, LSCM E-Cheque Wallet utilizes Blockchain technology. Blockchain technology has been described as an incorruptible digital ledger of economic transactions, which can be used for recording any valuable data. This provides a safe, reliable system to eradicate replicated and counterfeit cheques and protect vital data. These measures serve to strengthen corporate’s confidence in the e-Cheque wallet application system.

With the help of file encryption and digital signature techniques, authenticity of the digital assets is guaranteed. Each digital asset is uniquely identified on the Blockchain, so the owner cannot resend the same digital asset to more than one recipient. It offers a trustworthy and speedy delivery of e-cheques. Issuers may issue digital assets and have them delivered to thousands of recipients in real-time.

In 2017, the E-Cheque Wallet application won the silver medal at the Geneva International Exhibition of Inventions.

If you have any questions about how E-Cheque Wallet applications can help your business or how LSCM can foster your sector’s innovation, feel free to contact us.

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LSCM: Logistics and Supply Chain MultiTech R&D Centre in Hong Kong

Logistics and Supply Chain MultiTech R&D Centre (LSCM) is Hong Kong’s leading Centre of technology research and development (R&D) across numerous sectors, both public and private. Since its founding in 2006, LSCM has been dedicated to fostering technological innovation to enhance the efficiency in the logistics and supply chain industries.

The role of Logistics and Supply Chain MultiTech R&D Centre (LSCM) in Hong Kong and Beyond

Hong Kong is considered as one of the world’s leading logistics hubs. LSCM aims to reinforce this position through the continuous enhancement of technological facilities within areas of logistics, supply chain, artificial intelligence, and e-commerce, etc.

Always on the move, LSCM seeks to ensure Hong Kong keeps up on a global scale, cementing our place on the world stage as a progressive adopter of innovative technology. With an extensive range of projects developed over the years, LSCM nurtures ideas for growth not only in Hong Kong but also in Mainland China.

Facilitating Innovation Across Multiple Industries

To promote economic growth through heightened efficiency, LSCM has spurred the development of numerous cutting-edge technologies, including supply chain technology, robotics technology for logistics, and an AIoT Chinese Medicine dispensing and delivery system. These projects were undertaken to not only enhance efficiency, but also to provide effective solutions for the ageing problems across multiple industries in Hong Kong.

LSCM has a wealth of case studies in our database. These range from sophisticated virtual reality training modules to secure E-Lock system and E-Cheque Wallet applications, and many more. Our case studies showcase the impact of technology deployment on different sectors, demonstrating how a seemingly simple idea can transform the entire industry operations.

Future Development of Logistics and Supply Chain MultiTech R&D Centre (LSCM)

Moving forward, LSCM will work closely with the Government, academia and the industry in Hong Kong to continuously foster the development and adoption of technological innovations that address emerging supply chain and logistics challenges. As part of this effort, we prioritise building a community that focuses on collaboration to accelerate the progress.

To become part of our committed community of leading researchers and professionals, take a look at our membership program. There, you’ll discover various networking opportunities for your enterprise. Ranging from events for exposure and networking, through to cutting-edge researches for technology advancement, our membership program is the best way to enjoy LSCM’s extensive services.

If you have any questions about what we do, how we do it or anything else, feel free to contact us.