Source: Tech – South China Morning Post[Sponsored Article]<\/p>\n
Digitalisation has spurred growth and tackled many financial problems globally, and Fintech powers a broad range of practical applications, from all types of commercial activities and advanced banking transactions to many challenges encountered in our daily life. In response to this fast-paced development, City University of Hong Kong (CityU) organised the \u201cFintech Olympiad 2022\u201d (FTOL) with HSBC\u2019s support to cultivate the next generation of Fintech-savvy talents for the Greater Bay Area (GBA).<\/p>\n
To avoid purchasing \u2018lemons\u2019,\u00a0 a colloquial term for cars found to be defective after transactions, three CityU students formed a team, namely \u201cLemonT\u201d, and developed a tamper-proof method to record cars\u2019 odometers and repairs that works with an App, a data logging dongle and an encrypted data system powered by blockchain. With this idea, the team was awarded the Bronze Medal at the FTOL 2022.<\/p>\n
The three awarded CityU students, all hail from Germany and Australia with computer science and materials science backgrounds, impressed the judges with their innovative yet practical solution that aims to safeguard consumer interest and help honest used-car dealers enhance their reputation.<\/p>\n
\u201cThe team named their project\u00a0 \u201cLemonT,\u201d a creative twist to \u201clemon tea\u201d, an iconic local beverage, reflecting the project roots in its birth city,\u201d says Professor Raymond Chan, Vice-President (Student Affairs) of CityU, who praised this year\u2019s projects being practical and impactful Fintech and youth powered solutions for everyday problems.<\/p>\n
Launched in 2020, the competition was originally called \u201cBlockchain Olympiad\u201d. Due to its popularity with students and the burgeoning interests in the GBA, CityU has expanded the scope to covering Fintech and universities in the GBA with HSBC\u2019s support this year. \u00a0\u201cWe aim to enlarge the future pool of talent well-versed in Fintech who can work across the border,\u201d Professor Chan noted.<\/p>\n