The HKMA has released the “e-HKD Pilot Programme Phase 1 Report,” which discusses the findings and assessment of 14 pilots conducted by 16 participating firms. The report highlights the potential benefits of an e-HKD, including faster and more cost-efficient transactions, programmability, tokenization, and enabling new economic transactions. However, the pilots were conducted on a small scale, and further investigation is needed to determine if these benefits can be realized on a larger scale. The HKMA has not yet decided on the introduction of an e-HKD but will use the insights gained from Phase 1 to refine its approach. The next phase will explore new use cases and delve deeper into select pilots.
Phase 1 Report: https://www.hkma.gov.hk/media/eng/doc/key-information/press-release/2023/20231030e3a1.pdf
Resource: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2023/10/20231030-3/