Many governments around the world today are
exploring how they can use blockchain technology to improve service delivery to
citizens. The inherent characteristics of blockchain, its decentralised,
distributed and transparent structure, the irreversibility and immutability of
the transactions recorded on it, and high trust promise numerous benefits for
public sector operations and efficiency.
The Dutch Government has also embarked on an
exploratory journey into the world of blockchain, and its potential
applications. On November 16, OpenGov attended a Blockchain Symposium in
Singapore, where Koen Lukas Hartog, Program manager of Blockchainpilots.nl presented an overview of blockchain projects in the Dutch Government.
Blockchainpilots.nl was launched by the Dutch Public Service in the beginning of 2016 in order to
establish the opportunities and threats of blockchain or distributed ledger
technology. These projects are aimed at
achieving two specific goals: 1) Enhance knowledge regarding blockchain within
the participating organisations; and 2) Develop use cases for (future)
application of blockchain technology.
The first round of pilot projects started in
May of the same year. The participating governmental organisations developed a
use case and/or a prototype in collaboration with one or more technical
experts. Initially, the idea was to do three or four projects and then go back
to the central government with the lessons learnt and recommendations on what
the next steps should be.
Instead, more than 30 pilots were concluded
during the time period from May 2016 to November 2017. A variety of topics and
processes were covered, such as Income Tax, (digital) identity, logistics,
autonomous vehicles and debt counselling.
Typically for each project, over the course of three to four months, Blockchainpilots.nl would get together with a team of government experts on a particular process,
and work towards a blockchain use case. The outcome would also include a
roadmap towards the development of a first prototype.
“We didn’t do this alone, because I think the
key ingredient of the success of our pilot projects is that we were able to
create a large network of technical experts,” Mr. Hartog (above) said.
University start-ups, IT companies and student networks were willing and able
to work together with the government team and to help them figure out what
blockchain is, what it could do for the organisation and the government as a
whole, as well as what the first prototype should look like.
Many of those informal partnerships during the
pilot projects are still in place, and have led to several working prototypes.
Examples of pilot projects
Mr. Hartog went on to discuss some of the
The Dutch Tax Agency is using blockchain to
develop a better, more efficient, and more flexible system that wouldn’t
duplicate data for the chain of stakeholders
The Dutch Ministry of Infrastructure and Water
Management is currently developing a prototype for the process of transnational
transport of toxic waste. It is a highly administrative process that involves
several stakeholders who are duplicating work. They are planning to do a live
demo and are hoping to launch an actual working product afterwards.
The Ministry of Justice and Security has
explored several different blockchain projects at different agencies and
services belonging to the Ministry.
For example, the judicial information service
has looked into using blockchain for information sharing between stakeholders in
criminal trial proceedings. The blockchain could provide irrefutable evidence
to demonstrate who has access to what information at what moment, which could
help during the trial phase.
If the lawyer in the court falsely
tells the judge, that he/she has never seen this document before, and they need
time to read and study it, it could lead to rescheduling the trial and
additional costs incurred for the taxpayer. That kind of situation can be
avoided with the incorporation of blockchain.
The Central Judicial Collection Agency (CJIB)
has explored the use of blockchain for finding the ability of people to pay
fines. CJIB) is legally authorised to collect outstanding fines directly from
the bank account of Dutch residents. Agreements have been made with the banks
on efficient execution of this law.
If a person cannot their bills, then in most
cases, they would not be able to pay their government bills either. The problem
is no one within the government knows that the individual is going through some
problems like that. So, they will continue to send invoices or bills, that the
person won’t be able to pay, and the total the amount due keeps getting higher
and higher as penalties pile up. Because of privacy concerns information from
different governmental organisations cannot be shared and this ends up
amplifying people’s financial problems.
The agency has now come up with a solution where they can use smart contracts
and zero knowledge proof technology to find out if someone is unable to pay
their bills, without having access to all the personal data (a zero-knowledge proof or zero-knowledge protocol is a method
by which one party can prove to another party that a given statement is true,
without conveying any information apart from the fact that the statement is
indeed true). That enables the government to take the person’s inability to pay
the fine into account, without compromising the individual’s privacy.
Several pilot projects have been completed in
the field of healthcare. The team worked with the Dutch Healthcare Institute to
develop a working prototype of a blockchain-based health locker, which can keep
track of authorisations in the healthcare process. This means that if a patient
can could indicate through an app, who can take care of what activities, when
he or she is no longer able to do them, permanently or temporarily.
The team figured out that they could make it
work technically. But there were concerns over tis compatibility with the
existing legal framework.
So, the team connected the healthcare
institute with a tech-focused law firm, and together they worked on what is now
the first blockchain legal certificate. This means that the law firm will take
a look at the prototype, make an assessment, and will indicate at what point
the smart contract or the application doesn’t work in accordance with the law. Then
the prototype can be adjusted to comply with regulations (changing regulations
is a much longer process for obvious reasons).
In recent months, the team has been receiving
more and more requests for blockchain projects, which also involve other
emerging technologies. For instance, the team is working on a project to trial
whether an object in a public space, such as a streetlight, can be an
autonomous economic actor. It means that if the streetlight stops working, it
can automatically send out a request for a micro-job. The request for repair
can be taken up by an authorised supplier, and once the repair is completed,
the system will automatically take care of the payment as well. A prototype
streetlight is being developed.
In a subsequent presentation, Mr. Frans Rijkers (below),
Senior Adviser at the Dutch National Office for Identity Data talked digital
identity in the blockchain era. The Department has been working on prototypes
for a ‘self-sovereign’ digital identity.
There are multiple governments ministries and
agencies involved in dealing with identity, including the Ministry of the
Interior and Kingdom relations, Ministry of Foreign Affairs/ Embassies,
Ministry of Justice and local municipalities. The municipalities often act as
the front-end where people go to get passports or update the government about
changes in address etc.
Mr. Rijkers described the current system of
adding people to the population registry as ‘digital paper’. Existing paper
processes and certificates were digitised. But in today’s world, where citizens
are moving and conducting transactions not just around the country, but around
the world, the existing system is no longer adequate.
The idea behind the self-sovereign identity is
to create a digital identity that citizens can use everywhere, not just in the
Netherlands and not just for public services, but for all kinds of services
within and outside the Netherlands.
“We’re looking at a system that gives you a
digital identity that moves with you, that you can connect with your personal
data wherever you are,” Mr. Rijkers said.
To explain how the identity might work, Mr.
Rijkers gave the example of an individual buying alcoholic drinks. He/she has
to show proof that they are over 18 years old. The ID card will have all kinds
of data, including photograph, ID number, name, date of birth. But the only
thing the person at the sales counter needs is a yes or no answer to whether
the prospective buyer is over 18 years of age.
With the new self-sovereign identity, the person
can check in with their phone, the data comes from the civil registry and
returns a green or red (yes or no). Maybe the check-in could also be connected
with the payment, so that entire transaction from age verification to payment
happens in one step.
The onboarding has to be reliable and easy. So,
a prototype has been developed by the National Office for Identity Data, Idemia
Delft, where in a person can go to a municipal
office and open an app developed in the prototype. The fingerprints and photograph
from the passport are read and matched against the local biometrics i.e. the
person’s actual fingerprint and photo.
Several use cases are being explored, such as designing
an entirely new pension system where pension funds, employers and employees all
keep their data in their own secure blockchains,
Another one is the granting of a loan from a
municipality for making homes more sustainable. This latter could potentially
be part of something much bigger, with residents having self-sovereign identity
living in a smart home with its own digital identity, which is connected into a
During the course, particularly of the second round of pilots earlier this
year, two things happened. The first one was the realisation that a lot of the
projects have an international dimension
and require international collaboration. At the same time, there was
significant interest from abroad.
The team decided to invest more in
international collaboration because they saw that other countries were working
on similar projects, trying to fix similar problems. The team is also in touch
with the European Commission. Collaboration opportunities are also being
explored with the World Bank and United Nations.
At the bilateral level, the Netherlands and
Belgium are going to launch a book on all the Dutch and Belgian blockchain
projects that have currently been launched. They have also been in touch with
governments in Dubai and Estonia working on similar initiatives.
Mr. Hartog concluded his presentation expressing
hope for further collaborations with forward-thinking countries like Singapore,
cooperating in setting up projects, exhcnaging information and cross-testing
each other’s prototypes.
Agencies under the Ministry of Education and Skill Development and Entrepreneurship have inked eight memoranda of understanding (MoUs) with a leading private tech company, aimed at advancing digital skilling and training in emerging technologies for India’s youth.
During the signing ceremony, Union Minister of Education and Skill Development and Entrepreneurship, Dharmendra Pradhan, said that India, with its vast and youthful population, has tremendous potential. To leverage this demographic advantage, it is essential to empower the youth with the necessary skills to thrive in the modern workforce.
As part of the agreements, specially designed courses will be offered to empower the youth with future-ready skills. This partnership will concentrate on jointly developing curricula to educate students across various levels, including school education, higher education, and vocational skills. The courses will cover emerging technologies such as artificial intelligence (including generative AI), cybersecurity, cloud computing, and professional development skills. The collaboration encompasses three primary levels of education:
School Education: The private tech company will provide digital content for high school students, teachers, and trainers in schools identified by the Navodaya Vidyalaya Samiti (NVS), National Council for Teacher Education (NCTE), and Kendriya Vidyalaya Sangathan (KVS). The programme will be available online, through webinars, and in-person workshops organised by the company’s CSR implementation partners.
Furthermore, the company will update the CBSE’s (Central Board of Secondary Education) AI curriculum for Grades 11 and 12. It will also create a cyberskilling and blockchain curriculum for high school students.
Higher Education: Through the company’s CSR implementation partners, it will work closely with the Department of Higher Education, All India Council for Technical Education (AICTE), National Institute of Electronics & Information Technology (NIELIT), National Institute of Technical Teachers’ Training & Research (NITTTR), Chandigarh, and state skilling missions. The objective is to onboard affiliated students and faculty and grant them access to digital content, experiential learning opportunities, and new skill sets, equipping them for careers in the technical field.
Vocational Skills: The company will maintain its central partnership with MSDE and collaborate with the Directorate General of Training (DGT) as well as vocational education and skilling departments at the state level. The aim is to enrol job seekers, including those who have been unemployed for an extended period and individuals who have dropped out of school, into the company’s educational programme. This will empower them to acquire the technical and professional skills necessary for re-entering the workforce.
This collaboration represents a notable step towards realising the government’s vision of a ‘Skilled India’ and scaling up digital skills training and proficiency in emerging technologies through the private player’s educational programme. The MoUs will play a crucial role in enabling learners to fully harness the true potential of technology, transforming them into future wealth creators and successful entrepreneurs in society.
India has been actively working with tech giants and agencies to digitally upskill its youth. Earlier this month, the Ministry of Skill Development and Entrepreneurship partnered with two industry stakeholders to provide cloud skills training to 1,500 individuals. Through the programme, participants go through a workforce development initiative tailored to individuals who are unemployed or underemployed. It encompasses fundamental cloud skills training alongside valuable career guidance, such as creating resumes and preparing for interviews.
By using real-world scenario-based exercises, hands-on labs, and coursework, the learners receive training in various technologies. This includes Linux, Python, networking, security, and relational databases, ensuring a well-rounded skillset for their professional development.
The LKS Faculty of Medicine at the University of Hong Kong (HKUMed) is integrating technology into its teaching and training methods. Over the past decade, HKUMed has formed its own multimedia production team to create interactive online teaching materials.
The launch of simulation wards at the Academic Building on Sassoon Road in 2022, equipped with high-fidelity simulators, has significantly advanced nursing education and interprofessional education, garnering recognition with the ‘Teaching and Learning Strategy of the Year’ award at THE Awards Asia 2023.
HKUMed was also among the pioneers in Asia to introduce extensive point-of-care ultrasound (POCUS) education, providing senior medical students with portable devices for skill development in ultrasonography for bedside assessment and therapy. Furthermore, the institution has embraced cutting-edge augmented and virtual reality facilities for enhanced human anatomy education, ensuring students have continuous access to immersive learning experiences.
The Dean of Medicine at HKU emphasised the need for health professional students to broaden their perspective beyond clinical competence by appreciating the humanities in medicine and understanding sectors such as big data, artificial intelligence (AI), and informatics, which are transforming healthcare. He expressed gratitude to a philanthropist for his generous support to enhance AI integration into medical teaching, helping HKUMed maintain its excellence in training future healthcare professionals.
The transformative impact of AI on the world and the importance of meaningful applications in healthcare research, medical curricula and services to develop new therapies and enhance health and quality of life were stressed. He expressed his pleasure in supporting initiatives aimed at popularising AI education in Hong Kong and empowering the younger generation to utilise AI innovatively in education.
The philanthropist donated HK$30 million to HKUMed to support AI education, and in response, the institution committed to investing an additional HK$30 million to expand its digital learning capabilities, including hardware, software, and human resources, to further develop AI medical education. Scholarships and grants will be established to assist financially needy students and reward those excelling in AI learning.
The Director of Education Technology at HKUMed outlined plans to enhance health professional students’ digital health competencies through curriculum expansion. Initiatives include incorporating Generative AI (GenAI) technologies to simulate realistic patient scenarios, fostering a multimodal learning experience, and improving history-taking, clinical reasoning, and interpersonal skills. AI will also be used to capture and analyse interactions during teaching and assessments, providing timely feedback to enhance teaching, learning practices, and inter-professional health education.
Since the curriculum reform in 2019, HKUMed has involved students in innovative teaching and pedagogical developments through the ‘Student in Medical Education’ initiative, promoting a culture that recognises teaching as part of professional development. Active student participation in AI advancements continues through the Generative AI Resource Hub, a student-educator partnership initiative aimed at enhancing GenAI literacy for students and faculty members.
With the donation and matching fund, the enhancement of digital learning capacity at HKUMed will better prepare tomorrow’s healthcare professionals to meet society’s healthcare needs and safeguard public health in the future.
The initiatives undertaken by the LKS Faculty of Medicine at the University of Hong Kong (HKUMed) align with the broader efforts of the Hong Kong Special Administrative Region (HKSAR) government to promote innovation and technology in various sectors, including healthcare.
HKUMed’s focus on integrating AI and digital learning into medical education contributes to the HKSAR’s goal of becoming a hub for technological innovation, fostering a skilled workforce capable of addressing the region’s healthcare needs and advancing the application of AI in healthcare services, thus reinforcing Hong Kong’s position as a leader in innovation and education.
OpenGov Asia reported earlier that HKPC Academy collaborated with a specialist company to incorporate interactive training content and hands-on exercises into the programme. This addition aims to make the programme more practical and industry-relevant, providing participants with the skills needed to master cutting-edge educational technologies and application solutions.
The Ministry of Information and Communications (MIC) unveiled a draft decree earlier this year concerning the management, provision, and use of internet services, slated to replace the existing Decree 72. Under the proposed regulations, social networks will be required to remove content that violates the rules, with corresponding measures taken against offending accounts, community pages, and content channels. According to MIC, these heavy sanctions are expected to help clean up cyberspace.
The new draft decree includes more stringent requirements and more severe penalties for offenders. Organisations and individuals offering services, whether within Vietnam or internationally, are mandated to prevent and delete content that breaches the law immediately, once this is required by MIC. In cases where unreasonable content is not removed as instructed, MIC will employ technical measures to block websites, applications, and platforms that offer these services.
A notable addition in the draft decree compels social networks to temporarily or permanently suspend the accounts, community pages, community groups, and content channels that frequently breach regulations or engage in severe violations that impact national security. The regulations designed by MIC aim to address the sources of violations and reduce the time and resources expended by agencies in blocking and removing content in violation.
An industry expert has noted that that information is spreading rapidly across both domestic and international social networks. Failure to promptly address harmful information could lead to significant consequences for individuals and businesses. Moreover, inaccurate information concerning government policies circulating on social networks could severely undermine the reputation and functioning of state agencies.
The call for the immediate removal of violating content and the decision to suspend offending accounts can effectively resolve multiple issues simultaneously. In such a scenario, platforms will bear the responsibility of monitoring user posts, while users will need to be accountable for the content they generate.
It is essential to establish clear guidelines regarding the types of violations that need to be addressed and how much time platforms are allowed to do this. If the violations have relations with national security, they must be handled immediately. In this case, platforms must remove information in violation as soon as the watchdog agency sends links containing the violating information, with no need to send written requests. For other types of violations, it may be more practical to provide platforms with a reasonable amount of time to conduct thorough investigations into the cases before taking action.
With the ongoing digital transformation, the volume of sensitive data stored on digital platforms has surged, underscoring the importance of securing data as a critical priority. The National Cyber Security Centre (NCSC) has issued a warning regarding an increasingly serious scam involving the utilisation of deepfake technology to capture the movements and voices of unsuspecting victims for fraudulent purposes. This manipulation has resulted in financial losses for numerous individuals. It is anticipated that this artificial intelligence (AI)-based deception will evolve further in the future, becoming even more sophisticated and deceptive.
Personal data serves as the foundational building blocks for government and business databases. As a result, these data are regarded as invaluable resources for organisations and individuals to gather and use. The legitimate and lawful use of this data yields significant value. However, illegal activities that compromise personal data, leading to infringements on national security, social order, and security, can have severe consequences.
Visiting China has just become more convenient for Singapore residents, thanks to an innovative feature added to the Changi Pay digital wallet. Launched in 2021 by Changi Airport Group (CAG), a wholly-owned subsidiary under the purview of Singapore’s Ministry of Finance. This digital wallet has introduced a game-changing collaboration with a fintech company and an innovative technology provider.
One of the most significant benefits of this collaboration is the ability for Changi Pay users to make secure payments at a wide range of merchants in China. The focus is on leveraging a third-party mobile and online payment platform in China, where mobile payments through QR codes have become vastly more popular than traditional methods involving cash or conventional bank cards.
Lim Peck Hoon, CAG’s Executive Vice President for Commercial, expressed her enthusiasm about the collaboration and its positive outcomes, stating, “We have been turbocharging our digitalisation efforts to enhance the travelling experience for our passengers, and we are proud to see this collaboration bear fruit.”
One of the immediate advantages that users will appreciate is the ability to transact in China without incurring the typical transaction fees associated with overseas credit card payments. This is a significant boon for travellers who often find themselves burdened by extra charges when making purchases abroad. Changi Pay has effectively eliminated this hassle, allowing users to enjoy their shopping and dining experiences without worrying about hidden fees.
Besides, Changi Pay has gone the extra mile by providing users with attractive exchange rates. This means that when making payments in China, users will benefit from favourable rates, ensuring that their money goes further. This is a practical advantage that can significantly enhance the overall travel experience, making it more affordable and enjoyable.
Further, Changi Pay has introduced an enticing incentive for its users. Those who opt to make payments in China using the digital wallet will receive e-vouchers. These vouchers can be redeemed for purchases at Changi Airport upon their return, effectively offering users extra value for their spending. It’s a win-win situation that adds another layer of appeal to using Changi Pay for international transactions.
This collaboration has not only streamlined international payments but has also aligned perfectly with CAG’s overarching mission to elevate the traveller’s journey through digital innovation. By addressing the pain points associated with overseas transactions, Changi Pay has demonstrated its commitment to making travel more convenient, cost-effective, and rewarding for its users.
Digital wallets streamline the entire travel payment process, eliminating the need to carry bulky wallets filled with cash and numerous payment cards. This convenience not only simplifies transactions but also enhances the overall travel experience by reducing stress and hassle.
Likewise, digital wallets often offer favourable exchange rates and eliminate or reduce transaction fees typically associated with foreign currency payments. This translates to savings for travellers, allowing them to allocate their budgets more efficiently.
Hence, digital wallets have evolved into tools that modern travellers simply cannot do without since they provide a streamlined, risk-free, and time-saving solution for them to manage the financial aspects of their trips.
Also, digital wallets increase the excitement and accessibility of exploration by making travel more comfortable, cost-effective, and rewarding. Because of this, digital wallets are quickly becoming an essential companion for travellers all over the world.
In a groundbreaking move that promises to usher in a new era of innovation and sustainability, the Infocomm Media Development Authority (IMDA) has joined forces with the Mandai Wildlife Group in a visionary two-year partnership.
This collaboration seeks to drive digital transformation in Singapore’s wildlife parks, with a focus on three pivotal areas: Autonomous Mobile Robots (AMRs), sustainability, and immersive experiences. This bold initiative was formally launched with the signing of a Memorandum of Intent (MoI) at the iconic Singapore Zoo, setting the stage for Mandai Wildlife Group’s parks to become a veritable “living lab for innovation.”
“Our partnership with Mandai Wildlife Group expands on our existing digital transformation and innovation efforts, with the parks serving as a ‘living lab for innovation’ to support this endeavour,” said Leong Der Yao, Assistant Chief Executive, Sector Transformation, IMDA.
The IMDA-Mandai Wildlife Group partnership is not merely a symbolic gesture but a commitment to co-develop innovative solutions that will have real-world applications. At its core, this collaboration aims to tackle pressing challenges and identify untapped opportunities within the realm of wildlife conservation and entertainment. It’s a partnership that envisions a future where technology and nature converge to create a harmonious and sustainable coexistence.
One of the primary focal points of this collaboration is the development and deployment of Autonomous Mobile Robots (AMRs). These robots are poised to revolutionise the way wildlife parks operate, enhancing both efficiency and visitor experience. Unlike traditional AMRs designed for flat surfaces, the challenge here lies in adapting these robots to navigate the intricate and often uneven terrains of outdoor environments.
The IMDA and Mandai Wildlife Group are initiating a Call for Proposal that specifically targets outdoor AMRs equipped with tele-operation capabilities. This ambitious endeavour seeks to address existing industry challenges and technology gaps, with the ultimate goal of making these AMRs an integral part of daily park operations.
The identified use cases for these outdoor AMRs are diverse and compelling. A central operations platform, powered by tele-ops, will facilitate the management and coordination of multiple AMRs throughout the park premises. This not only streamlines operations but also ensures that these robots can work seamlessly together, enhancing overall efficiency.
Additionally, the introduction of AMRs for F&B delivery both to staff and visitors within the parks promises to revolutionise the dining experience. Visitors can now enjoy the convenience of ordering meals through a dedicated app, further enhancing their overall enjoyment of the park.
The collaboration also aims to automate and streamline visitor management services, such as location and ticketing services. This will significantly enhance the guest experience by reducing wait times and providing more personalised assistance. Moreover, the implementation of AMRs for surveillance purposes promises to improve security within the parks. These robots can navigate dimly lit and challenging terrains with ease, enhancing staff’s ability to respond swiftly to any guest needs or emergency incidents.
While these innovations are exciting on their own, they are part of a broader initiative by IMDA to enable the large-scale deployment of AMRs for commercial use. This partnership with Mandai Wildlife Group represents a critical step in achieving this vision.
By fostering collaboration between enterprises, technology partners, and the AMR community, IMDA aims to drive the adoption and interoperability of AMR systems across both indoor and outdoor environments. This initiative is poised to bring about tangible benefits for businesses in Singapore, ranging from increased productivity to the creation of new, high-value jobs.
The Hong Kong Science and Technology Parks Corporation (HKSTP) announced a partnership with the Hong Kong Insurance Authority (IA) to spearhead the Open Insurance movement. This initiative is being realised through the launch of the OpenAPI Platform for the Insurance Sector, often referred to as the Central Register.
Open insurance revolves around the concept of facilitating the exchange of insurance-related information among insurance companies and third parties using Application Programming Interfaces (APIs), thus fostering innovation in insurance products and services.
The OpenAPI Platform for the Insurance Sector serves as a trusted repository that houses open insurance APIs. Its primary function is to connect authorised insurers, licensed insurance intermediaries, and their third-party service providers, allowing them to seamlessly display and manage their product and service information. By granting public access to this valuable data, this central hub serves as a catalyst for enhanced connectivity, further fuelling the development of groundbreaking insurance products and services.
The Head of the STP Platform at HKSTP expressed her enthusiasm for this initiative, stating that it is a significant step toward the realisation of Open Finance. By harnessing the potential of open APIs, businesses can unlock new avenues for growth through enhanced connectivity, collaboration, and innovation. The OpenAPI Platform for the Insurance Sector empowers both insurance companies and tech ventures to leverage open APIs, thereby delivering transformative financial experiences to the industry.
The Associate Director of the Policy and Development Division at the IA urged the insurance industry to embrace the OpenAPI Platform as a driver of innovation and collaboration. He emphasised that the establishment of this platform underscores IA’s unwavering commitment to fostering greater cooperation among market players, while also promoting the application of Insurtech both within and beyond the insurance sector. IA remains dedicated to working in tandem with HKSTP and other stakeholders to nurture a dynamic Insurtech and Open API ecosystem.
HKSTP has been at the forefront of catalysing Hong Kong’s thriving API ecosystem by enabling businesses to undergo transformative changes through data and technology. The recent introduction of the API Hub further solidifies its role as a dependable source of data and functional APIs for a wide range of industries.
Enterprises now have easy access to a vast array of market-ready data and digital solutions, while technology enablers can seamlessly connect with partners and customers. Additionally, HKSTP has established partnerships with 27 banks, providing access to over 1,200 Open Banking APIs, thereby enriching the API landscape and promoting further innovation in the financial sector.
The collaboration between HKSTP and the IA to launch the OpenAPI Platform for the Insurance Sector marks a significant milestone in the evolution of Open Insurance. This innovative platform is poised to reshape the insurance landscape by facilitating the seamless exchange of information and fostering collaboration among industry stakeholders.
As businesses and tech ventures embrace open APIs, the insurance sector is set to experience a wave of innovation and transformation, ultimately leading to more impactful financial experiences for all stakeholders involved. The dedication of both organisations to nurturing a vibrant Insurtech and Open API ecosystem further underscores their commitment to driving positive change within the industry. With the groundwork laid by this partnership, the future of insurance in Hong Kong looks brighter than ever.
The partnership between the Hong Kong Science and Technology Parks Corporation (HKSTP) and the Hong Kong Insurance Authority (IA) to launch the OpenAPI Platform for the Insurance Sector aligns with key goals of the HKSAR Government. It promotes innovation and technology development in the insurance industry, enhancing the efficiency and accessibility of financial services while fostering the growth of Insurtech.
The platform also contributes to financial connectivity and regulatory cooperation, supporting Hong Kong’s status as an international financial hub. Furthermore, it exemplifies the government’s commitment to digital transformation across industries, collectively positioning Hong Kong for sustained economic growth and global competitiveness.
OpenGov Asia earlier reported that Invest Hong Kong (InvestHK) soft-launched the FintechHK Community Platform, a centralised fintech platform to connect local and global fintech companies with Corporate, Investor, and Service Champions.
The platform is fully supported by the Financial Services and the Treasury Bureau (FSTB) and curated by InvestHK; the initiative comes as an extension of the Global Fast Track Programme, which garnered great industry participation in 2022.
In a bid to support startups struggling to train AI models in the country, the government plans to establish a major graphics processing unit (GPU) cluster. The move will also encourage investments in the field of chip design for AI applications, enhance domestic intellectual property, and improve the country’s global standing in the AI and semiconductor industries.
A GPU cluster is a network of computers with GPUs on each node to train neural networks for image and video processing. According to the Minister of State for Electronics and Information Technology, Rajeev Chandrasekar, the GPU will be set up under the India AI programme. The government will help startups and foreign enterprises interested in developing domestic intellectual property in chip design for AI applications through the IN₹ 11 billion (US$ 132 million) – IN₹ 12 billion (US$ 144 million) design-liked incentive systems.
Chandrasekar noted that presently, most conversations about AI revolve around applications such as ChatGPT. However, the project’s main aim is to develop practical AI applications for the real world. The emphasis will be on developing AI-specific integrated circuits for real-use cases in healthcare, governance, and education.
Alongside this announcement, the Minister mentioned that construction for a semiconductor packaging and assembly plant has been started by a leading American semiconductor manufacturing company in Sanand, Gujarat. The project has a total investment of US$ 2.75 billion. The project will receive significant support, including 50% fiscal backing from the central government, along with additional incentives representing 20% of the overall project cost from the state of Gujarat. The facility will encompass 500,000 square feet of cleanroom space and will commence operations in late 2024.
Following Prime Minister Narendra Modi’s unveiling of the semiconductor vision and the intended investment of IN₹ 760 billion to stimulate and develop India’s semiconductor ecosystem, significant advancements have been achieved in the past 18 months. The Sanand plant represents a significant milestone in India’s journey toward becoming a leading semiconductor industry.
The India Semiconductor Mission (ISM) is a distinct and autonomous Business Division operating within the Digital India Corporation. It aims to cultivate a dynamic semiconductor and display ecosystem, positioning India as a worldwide leader in electronics manufacturing and design. Spearheaded by international experts in the semiconductor and display sectors, ISM serves as a central hub for the effective and coordinated implementation of the Program for the Development of the Semiconductor and Display Ecosystem. This is achieved through close collaboration with government ministries, departments, agencies, industry partners, and academic institutions, ensuring a comprehensive and streamlined approach.
ISM is developing a comprehensive and long-term strategy to nurture sustainable semiconductor and display manufacturing facilities. It promotes the implementation of secure microelectronics and cultivates a reliable semiconductor supply chain, including raw materials, speciality chemicals, gases, and manufacturing equipment.
ISM will also provide essential support through Electronic Design Automation (EDA) tools, foundry services, and other suitable mechanisms for early-stage start-ups. It will enable cutting-edge research, including evolutionary and revolutionary technologies, through grants, global partnerships, and mechanisms involving academia, research institutions, and industry stakeholders. It actively promotes collaborative initiatives with national and international agencies, industries, and institutions. These efforts accelerate commercialisation and skill development, enabling the transfer of technologies (ToT) to foster innovation and growth.