Early glimpse of CBDC (Central Bank Digital Currency) – Are Asian countries ready for it?

Central banks in many Asian countries are working on the possibility of introducing Central Bank Digital Currency (CBDC). The public’s preferences concerning the usage of CBDC for paying and saving are important determinants of the success of CBDC. The potential adoption of a Central Bank Digital Currency (CBDC) is a topic of increasing interest. What are some hurdles and challenges of implementing a CBDC? What are the implications of CBDCs to traditional banks and virtual banks? How do CBDCs work with global payments network?

In this seminar, we have invited leaders from the regulator, traditional bank, virtual bank and technology developer to explore these topics with the participants.

About the Speakers

• Mr. Nike Kong, Chief Information Officer, Hang Seng Bank

  Mr. Kong is responsible for technology services within the bank and its subsidiaries including Hang Seng Indexes. He has over 30 years of technology management experience in the financial services industry, taking on various senior roles in the HSBC Group including the recent two years leading the IT function of Hang Seng Bank. Mr. Kong has extensive knowledge in enterprise system development and technology change management across different segments including retail, commercial and investment banking. He holds a Bachelor of Mathematics Degree from the University of Waterloo.

• Mr. Brian Lam, Senior Manager at the Fintech Facilitation Office, The Hong Kong Monetary Authority

  Mr. Lam is responsible for facilitating the healthy development of the fintech ecosystem in Hong Kong and promoting Hong Kong as a fintech hub in Asia. Prior to this assignment, he has helped setting up the operation of the Trade Repository of the HKMA for the over-the-counter derivatives trades reporting regime. Before joining the HKMA, he worked for a number of global investment banks and “Big-4” accounting firms, both in Hong Kong and London. He holds a Master of Engineering degree from the University of Oxford, England.

• Mr. Gary Lam, Chief Technology Officer, livi Bank
  Mr. Lam works as technologist for over 20 years from retail insurance to commercial banking and wealth management industries. He has gained a lot of exposure in various technology architecture and platforms. In recent years, he focused on the Asia-Pacific region and leveraged customer-centric design principles. He has developed a few key digital products including WeChat mini-banking, trade finance blockchain platform and other digital banking products for retails and ultra-high net-worth individuals. In livi bank, he is now fully dedicated to promoting financial inclusion and delivering secure, safe and customer-centric banking experience to HK customers.

• Mr. Peter Lee, Chief Technology Officer, IBM Hong Kong

  Mr. Lee is also the Distinguished Engineer, Technology Unit, IBM Greater China Group, and has over 25 years of IT experience and leads pre-sales technical support and architect infrastructure solution based on IBM Server Solutions, System Storage and System Software. Mr. Lee is a veteran in IBM Systems who led technical communities and made outstanding contributions to business and industry via number of large scale project implemented, e.g. Banking Card Infrastructure at China Union Pay; Banking solutions deployment at countrywide Banks & RCCB in PRC; AI solution deployment in GCG region; ERP Infrastructure deployment at Fortune500 companies; TOP500 High Performance Computing projects at China Meteorological Administration & Taiwan Central Weather Bureau etc. Mr. Lee has recently played Technical Advisor role to IBM China Standards Council, helping IBM China to monitor, feedback and comply with many evolving China Regulations. It does not only help IBM to safeguard our business in China, but also facilitate our customers to better understand China Regulations and to land their business in China with IBM as their Trusted Technology Partner. With that, Peter Lee has been appointed to be the first Distinguished Engineer of IBM Systems in IBM Greater China Group since 2014.