12 June 2017
Most recently, Mr Nicholas Yang, Secretary for Innovation and Technology, asserted the government’s intolerance of any illegal business conducted under the banner of the “sharing economy”. For most of the “sharing economy” businesses, the illicit element is to operate without the necessary licenses and permits. Hong Kong’s licensing and permit system was fashioned to protect consumers. Yet it is important to recognize the fundamental changes in our daily economic activiti
28 April 2017
Recently, Gobee.Bike has become the centre of media attention. The company was widely touted as a part of “the sharing economy”. Gobee.bike parks their bicycles at public bicycle racks and allows users to unlock these bicycles by scanning a QR code on the bike, charging HK$5 per half an hour. Users can end their rental and leave the bicycle at the location they themselves desire. Regrettably, poor planning has led to a series of setbacks: users experienced unauthorized deduction of deposit f
17 February 2017
Hong Kong has always been a zealous believer in the free market and its fair process of selecting winners. Government officials tend to prevent accusations of colluding with the private sector by avoiding allocation of resources for specific industries. Even when the government introduces industry-specific funds, applicants always have to swim through a sea of red tapes which have deterred many bright and hopeful entrepreneurs. This bureaucratic culture may be one of the reasons why Hong Kong ne
02 December 2016
Among a wide range of blockchain applications, “smart contracts” are ones with great potential. “Smart contracts” are essentially computer programs that are saved on the blockchain and execute their own terms and conditions automatically. For example, sellers are paid when buyers confirm they have received the goods on time. This process is currently executed by a third party. With “smart contracts” the middlemen or third parties may become obsolete.
31 October 2016
Many ancient civilisations dedicated significant effort in registering the tax-paying portion of their populations to ensure income and sustain the various social functions. The census can be deemed the mother of public data. The Ancient Roman Republic and Empire recorded their male adults that were capable of fighting, and the Qin dynasty also registered its population to coordinate taxes and duty. In the modern era, the use of data has become much more widespread. These data, ranging from ID c
25 August 2016
Around October last year, the People’s Daily published an article titled “Hong Kong’s Crisis of the Octopus Card, a sirens’ call for whom?” The gist of the article goes: Hong Kong’s Octopus card technology used to be a role model for the country and the world, but it has been stagnant and stuck at the stage of physical cards and is lagging behind the more advanced means of electronic payment around the globe such as Alipay and WeChat Pay; the situation is indicative of the lack of