February 29, 2024

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HKUST establishes DLT-focused joint lab

Image Credits: HKUST, Press Release

The Hong Kong University of Science and Technology (HKUST) and a Chinese multinational technology company announced the establishment of the Joint Laboratory on Blockchain Technology (the Joint Lab).

The Joint Lab aims to develop cutting-edge and influential blockchain technologies that are applicable to various industries and establish a high-performance blockchain ecosystem in the Guangdong-Hong Kong-Macao Greater Bay Area.

A signing ceremony was held on HKUST campus, marking the official launch of the Joint Lab and research collaboration.

The Dean of Engineering of HKUST and the Chief Engineer of ThunderChain at the tech firm signed the collaborative agreement.

Leveraging on HKUST’s strong research capabilities and the tech firm’s solid industry experience, a series of blockchain technology initiatives and development will be carried out under the Joint Lab.

Key research topics include consensus algorithm, cryptography and data protection. With the tech firm’s infrastructure support of ThunderChain and Thunder Chain File System (TCFS), HKUST’s world-class researchers and the firm’s technology experts will work together to improve existing consensus algorithm and explore brand new model, enabling individual users to share idle computing resources with small-sized hardware while establishing an overall blockchain system with higher security level so as to achieve sharing economy of computing network.

Another joint research project is to develop an encryption program that is applied to blockchain technology. This program will offer efficient and practical solutions for the third party to process data without accessing sensitive information to improve data privacy. The research team will also study other perspectives of blockchain technology to promote applications across wider sectors including cloud computing, new retail, supply chain, healthcare and philanthropy.

The Chief Executive Officer of the tech firm stated that the partnership will enable the exploration of blockchain tech and the translation of insights into impactful applications, together contributing to technological and economic development.

Moreover, it is hoped that the youth will join in this endeavour to make blockchain technology widely used and working for a better future.

HKUST engages actively at the forefront of emerging technologies, and blockchain is one of them. This collaboration will combine research strengths of the University and enterprise to bolster technology innovation and development in blockchain, fostering ground-breaking research and technology transfer, according to the Vice-President for Research and Development of HKUST.

The HKUST Dean of Engineering stated that the joint lab will not only facilitate academic exchange and industry collaboration, but it will also bring more learning opportunities for our students to equip with the advanced blockchain technologies and knowledge, contributing to the development of future technology talent.

Blockchain is one of the most revolutionary technologies in recent years that has great potential in making a transformative difference to the industries. The tech firm is one of the leading internet companies exploring and developing blockchain technology in China.

HKUST endeavours to provide a strong and highly visible leadership role in big data and data science research in Hong Kong and the world through multidisciplinary collaborative research projects and partnerships with the industry.

The Joint Lab seeks to bring economic and social benefits to society through its high-impact translational research and innovative applications on blockchain technology.

The partnering firm was founded in 2003, is a leading innovator in shared cloud computing and blockchain technology. The company provides a wide range of products and services across cloud acceleration, blockchain, shared cloud computing and digital entertainment to deliver an efficient, smart and safe internet experience.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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