ConsenSys will help Hong Kong explore the benefits of a state-owned cryptocurrency

ConsenSys, the company that develops the Ethereum ecosystem, will help the Hong Kong monetary authority (HKMA) in a project to study the advantages of the state cryptocurrency.

As part of the project, ConsenSys will help create the technology infrastructure for the HKMA project. The consulting firm PricewaterhouseCoopers Limited and Forms HK will also participate in the study of the state cryptocurrency.

In a statement, ConsenSys said that all three companies will work on the second phase of the implementation of the Inthanon-LionRock project, which was launched back in 2018. Charles d’Ossi (Charles d’haussy), Director of ConsenSys in Hong Kong, stressed:

“ConsenSys is looking forward to working on the implementation of state-owned cryptocurrencies for international payments.”

As part of the project, the company plans to use its Ethereum technology stack and test solutions to ensure the scalability and security of the Hong Kong state cryptocurrency.

Recall that at the end of August, ConsenSys bought a platform based on the Quorum blockchain from the us Bank holding JPMorgan Chase.