Ethereum ecosystem development company ConsenSys will assist the Hong Kong Monetary Authority (HKMA) in a project to explore the benefits of government cryptocurrency.
Through the project, ConsenSys will help create the technological infrastructure for the HKMA project. The consulting firm PricewaterhouseCoopers Limited and Forms HK will also participate in the study of the state cryptocurrency.
ConsenSys said in a statement that all three companies will be working on the second phase of the Inthanon-LionRock project, which began back in 2018. Charles d’Haussy, Director of ConsenSys Hong Kong, stressed:
“ConsenSys is looking forward to working on the implementation of government cryptocurrencies for international payments.”
As part of the work on the project, the company plans to use its Ethereum technology stack and test solutions to ensure the scalability and security of the Hong Kong government cryptocurrency.
Recall that at the end of August, ConsenSys bought a platform based on the Quorum blockchain from the American banking holding JPMorgan Chase.