Blockchain enabled e-Cheque App

Overview

This e-Cheque Wallet application provides a more convenient platform for e-Cheque transactions, and facilitates new business models and entrepreneurship in e-Commerce/e-Logistics.

  • Blockchain enabled e-Cheque App 0
Research completion
2017
Commercialisation opportunities
technology licensing
Problem addressed

The application adopted Bitcoin technologies to achieve the objectives of duplicate prevention and traceability for e-Cheque transaction without a centralised repository. In e-Cheque transaction, the transfer of e-Cheque from a payer to a payee shares many similar characteristics of payment by Bitcoin. Utilising Bitcoin technology can fulfil the traceability need of e-Cheque.

Innovation
  • In contrast to most e-Wallets that use a traditional centralised ledger, this e-Cheque app utilises the Blockchain technology which provides a safe and reliable system to eradicate replicated and counterfeit cheques and strengthen corporate’s confidence in e-Cheques.
  • 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.
Key impact
  • If a distributed environment is without a centralised repository, e-Cheques could be transferred from “wallet” to “wallet”. With this project, every transaction is stored on blockchain, transaction immutability, duplicate prevention and traceability/forensics is achieved.
  • It offers trusted and speedy delivery of e-cheques. Issuers may issue digital assets and have them delivered to thousands of recipients in real time.
Award
  • Silver medal at the 45th International Exhibition of Inventions Geneva in 2017
Application
  • Blockchian enabled e-Cheque wallet


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

Logistics and Supply Chain MultiTech R&D Centre (LSCM) was founded in 2006, with funding from the Innovation and Technology Fund of The Government of the Hong Kong SAR, and is co-hosted by the University of Hong Kong, the Chinese University of Hong Kong and the Hong Kong University of Science and Technology. It aims to strengthen the local logistics sector and related industries by providing a one-stop resource for applied research and technology transfer, and to reinforce cooperation between the industry and research institutes to bring about meaningful and significant impact on the industry and the community. 

LSCM serves the industry by initiating research projects, contract research, as well as providing business matching opportunities, technology transfer and intellectual property commercialisation. LSCM initiates technology and knowledge transfer to the marketplace to promote industrial digitalisation, facilitate technology advancement and strengthen Hong Kong’s position as a leading logistics and commercial hub.

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