The Hong Kong Federation of E-Commerce (HKFEC) has revealed that it is entering into a partnership with Dowsure Technologies that will see the development of an e-commerce platform powered by blockchain technology.
Hong Kong Trust Mark, established by the HKFEC in 2016, was founded with the aim of handling issues relating to intellectual property, trust in marketplaces, and strengthening consumer confidence in doing business with Hong Kong retailers.
At a recent conference held at the Trade & Industry Department’s Support and Consultation Centre for SMEs, the HKFEC announced that it will be collaborating with Dowsure to develop the blockchain e-commerce platform to drive the Hong Kong Trust Mark.
HKFEC Chairman Joseph Yuen said in a statement, “We are glad to leverage the InsurTech solution by Dowsure for a secure blockchain insurance service for ecommerce merchants with many great insurance companies. It certainly [proves] to the world again that Hong Kong has the capability to lead in a healthy digital development as a Smart City.”
Dowsure — a leading insurtech company founded in China — is recognized for its insurance products which utilize blockchain, big data, and artificial intelligence (AI) for data analysis, risk control, and pricing.
Byron Pei, founder and CEO of Dowsure, said, “E-commerce in Hong Kong shows great prospects for development, however, counterfeit and shoddy goods perplex the consumers and sellers. We are very honored to work with HKFEC to create a better and safer environment for Hong Kong cross-border e-commerce.”
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