Hong Kong University Research

Sharing Our Expert Insights

Arcartera Provides Answers to Research Student’s Questions on Project Paper

We are pleased to share that a research student from the Hong Kong University recently reached out to Arcartera with some questions regarding their project paper. We were more than happy to assist and have provided comprehensive answers to their queries. With the student’s permission, we would like to share our responses with the readers of our website, as we believe that the insights we have provided may be valuable to those interested in the subject matter.

1. What are the comparative advantages of using Blockchain technology to register Intellectual Properties (BIM models, drawings and contributions), despite the comprehensive tracking and recording function of Common Data Environment? [What makes it necessary to do so?]

Blockchain technology provides an immutable record of transactions, allowing for a secure and transparent way to register intellectual properties in the construction industry. The advantages of using blockchain for IP registration include the ability to create a permanent record of ownership and transfer, facilitate collaboration between different parties, and prevent the unauthorized use of intellectual property. Arcartera is developing a blockchain-based platform specifically for the architecture, engineering, and construction industry that provides an efficient and secure way to register and track intellectual property. It is currently using NFT’s to time-stamp and verity agreed upon BIM files on the blockchain.

2. What would be the approximate range of the cost to establish a blockchain software for a construction project/company?

The cost of establishing a blockchain-based software for a construction project/company depends on a variety of factors, such as the size of the project, the number of participants involved, and the complexity of the blockchain solution. Generally, blockchain solutions require significant upfront investment in terms of development and infrastructure, but can result in long-term cost savings by reducing administrative overhead and improving efficiency. Hence the cost of developing a blockchain solution can range from tens of thousands to hundreds of thousands of dollars.

3. What kind of costs are included in establishing and operating a blockchain?

The costs of establishing and operating a blockchain solution include software development, infrastructure, maintenance, and ongoing operational costs. Developing a blockchain solution requires specialized knowledge and expertise, which can result in higher costs compared to traditional software development. The cost of establishing and operating a blockchain also varies depending on the complexity of the project and the level of customization required. Additionally, ongoing maintenance and operation costs should also be considered. However, Arcartera is committed to providing cost-effective solutions for its clients, and we work closely with our clients to understand their specific needs and budget constraints. By leveraging our expertise in blockchain technology, we aim to offer efficient and streamlined solutions at a reasonable cost.

4. How to avoid the gas fee in transfer of ownership?

Gas fees are a necessary part of the Ethereum blockchain and are used to incentivize miners to process transactions. However, gas fees can be a significant cost for frequent transactions, such as transfer of ownership. Arcartera is working on a solution that allows for the transfer of ownership without incurring gas fees by using off-chain solutions such as state channels or sidechains, enabling more cost-effective transactions. When on-chain solutions are needed, like minting NFT’s for a BIM (Building Information Management) file, they are generated on the Polygon Network, which has a much lower and hence attractive gas-fee structure.

5. How much time is required to establish a blockchain system for IP registration?

The time required to establish a blockchain system for IP registration can vary depending on the specific requirements of the project. In general, the development and implementation process can take several months to a year or more. However, at Arcartera, we pride ourselves on our agility and efficiency when it comes to delivering blockchain solutions. Simple IP registration smart contracts can be created in less than 2 weeks. This could be a Solidity (Ethereum compatible coding language) code that issues NFT’s to verify BIM files. However, complicated systems, with company specific rules can be a very time-consuming task that can take 3-12 month.

6. Should the blockchain be established in a project-based or company-based way?

The decision to establish a blockchain system in a project-based or company-based way depends on the specific needs and requirements of the company or project. Arcartera provides customized blockchain solutions that can be tailored to the specific needs of the client, offering both project-based and company-based solutions. Generally we believe that the decision to establish the blockchain in a project-based or company-based way depends on the specific needs and goals of the stakeholders involved. 

For instance, if the project involves multiple parties with different levels of involvement and responsibilities, a project-based approach may be more appropriate to ensure transparency and accountability. On the other hand, if the goal is to establish a system for managing all intellectual property across an entire company, a company-based approach may be more efficient and cost-effective. 

7. How to establish a consortium blockchain within a construction project with limited number of project participants, while maintaining the “distributed” feature of the blockchain?

Establishing a consortium blockchain within a construction project with a limited number of participants is a challenging task, as it requires balancing the need for a distributed system with the practical limitations of a small group. At Arcartera, we believe that this can be achieved by designing a blockchain network that is tailored to the specific needs of the project.

The first step is to identify the key stakeholders in the project, including the owner, designers, contractors, and sub-contractors. Once these stakeholders have been identified, we work with them to define the requirements for the blockchain system, such as the type of information that needs to be stored, the level of security required, and the rules for accessing the system.

Next, we design a blockchain network that is specifically tailored to the needs of the project. This may involve creating a private blockchain network that is only accessible to the key stakeholders in the project. The network may be based on an existing blockchain platform, such as Ethereum, or it may be a custom-built blockchain platform that is specifically designed for the project.

One of the key challenges of establishing a consortium blockchain is ensuring that the network is decentralized, even with a limited number of participants. To achieve this, we use a consensus mechanism that is designed to prevent any one participant from having too much control over the network. This may involve using a proof-of-stake or proof-of-authority consensus mechanism, rather than the more common proof-of-work mechanism.

Finally, we work with the project stakeholders to develop a governance framework for the blockchain network. This includes defining the roles and responsibilities of each participant, as well as the rules for making changes to the network. We also provide training and support to ensure that all participants are able to use the system effectively.

As an example, we recently worked with a small consortium of contractors and sub-contractors on a major infrastructure project. We established a private blockchain network that was based on the Ethereum platform and used a proof-of-authority consensus mechanism. The network was designed to store information about the project schedule, including key milestones and deadlines. We also developed a governance framework that defined the roles and responsibilities of each participant, as well as the rules for accessing the system. The project was completed on time and within budget, thanks in part to the transparency and efficiency provided by the blockchain network.

In a decentralized blockchain network, no single entity or person is responsible for operating the network. Instead, all participants in the network have a role in maintaining the network and validating transactions. Arcartera is developing a decentralized blockchain solution for IP registration in the AEC industry, which means that responsibility for operating the blockchain will be shared among all participants in the network. Arcartera will provide the necessary infrastructure and tools to enable participants to interact with the blockchain, but the network itself will be maintained collectively by all participants.

9. Would it create nuisance to design owners if they have to register their design? In what time interval should they deposit their design file onto the system?

Registering designs on a blockchain can actually streamline the process and provide added security for design owners. Arcartera’s blockchain solution for IP registration will allow design owners to easily and securely register their designs on the blockchain. The registration process will be automated and efficient, minimizing the burden on design owners. In terms of the time interval for depositing design files onto the system, this will depend on the specific requirements of each project. However, Arcartera’s blockchain solution is designed to be flexible and customizable, so it can be adapted to meet the unique needs of each project.

10. Would there be any security risk arise from the storage of original design file in the IPFS system?

The InterPlanetary File System (IPFS) is a decentralized file storage system that is used in conjunction with blockchain technology. IPFS provides a secure and reliable way to store large files such as design files, while maintaining the decentralized and immutable nature of the blockchain. Arcartera’s blockchain solution for IP registration will utilize the IPFS system for storing design files, which will be encrypted and distributed across the network to ensure maximum security. By using a combination of blockchain and IPFS technology, Arcartera’s solution provides a highly secure and efficient way to register and store design files.

Security Risks: Since IPFS is a distributed file system, there is a risk of security breaches if the network is compromised. For example, if an unauthorized user gains access to the network, they may be able to view and copy sensitive design files, leading to intellectual property theft or other security breaches. Additionally, since the files are stored across multiple nodes, there is a risk of data fragmentation or loss.

Technical Risks: Another potential risk of using IPFS for design file registration is technical issues with the system itself. For instance, if the IPFS network experiences congestion or latency issues, it may lead to delays or errors in file transfers. Moreover, if the network undergoes a major update or migration, there could be compatibility issues with existing design files, leading to data corruption or loss.

To mitigate these risks, it is important for companies like Arcartera to implement robust security measures, such as encryption and access controls, to safeguard design files stored on IPFS. Additionally, regular backups and redundancy measures can help prevent data loss in the event of technical issues or network failures. Finally, partnering with reputable and reliable IPFS providers can help ensure the integrity and availability of design files stored on the network.

11. Could you comment on the below proposed conceptual framework of the blockchain-based registration system?

When considering a blockchain-based registration system for architects, several front-end and back-end data segments would be required, as follows:

Front-end data segments:

  1. User interface (UI): The UI should be user-friendly, interactive, and easy to navigate. It should provide architects with the ability to register their intellectual property (IP), view their registrations, and perform various other functions.
  2. Intellectual Property (IP) information: This segment should include information such as the title, description, author, date of creation, and other relevant details of the IP that is being registered.
  3. Legal agreements: The system should provide users with legal agreements that they must agree to before registering their IP. This agreement should clearly state the terms and conditions of using the registration system.

Back-end data segments:

  1. Blockchain: The blockchain is the foundation of the system and stores all of the registered IP. The blockchain segment should be scalable and secure to handle a high volume of data.
  2. Smart contracts: Smart contracts can automate processes such as registration, verification, and transfer of ownership of IP. These contracts can help ensure that all parties involved in the transaction follow the agreed-upon terms.
  3. InterPlanetary File System (IPFS): IPFS is a decentralized storage system that is used to store large files, such as 3D models and drawings. It is ideal for storing IP that is too large to be stored on the blockchain.

The front-end data segments would be visible to users, and the back-end data segments would be invisible and handled by the system. The IPFS system would store the large files, and the blockchain and smart contracts would ensure the security and immutability of the registration process.

In conclusion, your proposed framework has a good structure. But a blockchain-based registration system for architects would mainly require a user-friendly UI. Besides that, there should be a strong focus on IP information, legal agreements, blockchain, smart contracts, and IPFS. The system would provide an efficient and secure way for architects to register their IP, ensuring that their work is protected and their ownership is established.

12 .How does smart contract facilitate the grant of access to other project participants?

Smart contracts can facilitate the grant of access to other project participants by automating the process of granting permissions and managing access control. With a smart contract in place, participants can be granted access to specific resources or information based on predefined conditions, such as the completion of certain tasks or the fulfillment of certain requirements.

For example, in a construction project, a smart contract can be programmed to automatically grant access to the project design files to contractors once they have completed their portion of the work and have been approved by the project manager. The smart contract can also ensure that access to the design files is automatically revoked once the project is completed or if the contractor’s work is deemed unsatisfactory.

Additionally, smart contracts can also provide transparency and accountability in the grant of access process. The use of blockchain technology ensures that all actions taken within the contract are transparent and auditable, and can be traced back to specific participants. This can help prevent unauthorized access to sensitive information and provide a tamper-proof record of all access requests and grants.

Overall, smart contracts can simplify and streamline the process of granting access to project participants while also ensuring security and accountability.

13. How to connect a project’s BIM model to a smart contract? How should the “if…then…” code in the smart contract set to grant access to other project participants?

Connecting a project’s BIM model to a smart contract involves a few steps. First, the BIM model needs to be stored on the IPFS network, which provides a decentralized storage solution. Next, an NFT (Non-Fungible Token) can be created to represent the BIM model. The NFT can contain metadata such as the location of the BIM model on IPFS, the name of the project, and other relevant information.

Once the NFT is created, it can be used to define the terms of the smart contract. The smart contract can specify the conditions under which access to the BIM model will be granted to other project participants. For example, the smart contract could specify that access will only be granted if certain conditions are met, such as the payment of a fee or the completion of certain tasks.

The “if…then…” code in the smart contract can be set to grant access to other project participants based on specific criteria. For example, if a contractor has completed a certain percentage of the project, they may be granted access to the BIM model. However, it is important to note that the smart contract should be designed in a way that does not allow for the granting of access to be altered or changed after it has been uploaded. This ensures that the decentralized and independent nature of the blockchain is maintained.

Overall, the front-end data segments for a UI would include information about the project, such as project name, project stage, and access control settings. The back-end data segments would include the BIM model stored on IPFS, the NFT that represents the BIM model, and the smart contract that defines the terms of access to the BIM model. By using smart contracts and NFTs, a blockchain-based registration system for architects can provide a secure and transparent way to grant access to project participants while maintaining the decentralized nature of the blockchain.

Bloomberg mentions Arcartera Limited

Arcartera, a developer of blockchain infrastructure for the Architects and Building & Construction industry, has been acknowledged by Bloomberg for its notable work with the Hong Kong Central Bank, according to a press release. The company’s use of cutting-edge technology has enabled the bank to streamline its operations and deliver efficient services to customers. Bloomberg, a world-renowned news company, has taken notice of Arcartera’s innovative approach to financial technology.

The CEO of Arcartera, Gregor Hans Schoener, expressed his excitement, saying, “We are thrilled to receive recognition from such a respected news organization like Bloomberg. Our team is committed to providing innovative technology solutions that exceed the expectations of our clients.”

Since 2022, Arcartera has been collaborating with the Hong Kong Central Bank, providing them with technology consultation, mainly about blockchain-based payment systems and data analytics.

Bloomberg’s recognition of Arcartera’s work is a testament to the company’s dedication and hard work. The COO of Arcartera, Arthur Ha Ming Chak, stated, “We are proud of the work we have done with the Hong Kong Central Bank and look forward to continuing to provide them with the best technology solutions.”

Arcartera is committed to developing cutting-edge technology solutions for the financial services industry.

Arcartera’s public AEC Industry DAPPs

Arcartera To Launch Blockchain Dapps for AEC Industry

The Architecture Engineering and Construction (AEC) industry has traditionally been slow to adopt new technologies. However, recent advancements in Blockchain technology have the potential to revolutionize the way construction projects are managed and executed. By creating transparent and secure digital records of transactions and activities, Blockchain can improve project management, reduce disputes and delays, and increase transparency and trust among all stakeholders. With this in mind, Arcartera Limited, a leading provider of Web3 solutions for the AEC industry, has created a number of public Blockchain Decentralized Applications (Dapps). They include a Blockchain BIM solution that automatically creates a public ledger of a building construction status by minting an NFT for an .ifc file, providing greater transparency and security to the construction process.

China, Hong Kong, March 8th, 2023

Arcartera Limited, a leading provider of Web3 solutions for Architecture Engineering and Construction (AEC) companies, has been working on developing Smart Contracts, Supply Chain Management, and Payment Gateway for Contractors since 2022. However, Arcartera is now pleased to announce the launch of a number of public Dapps that can be used by anyone interested.

As the first Dapp to be launched, Arcartera will introduce a Blockchain BIM (Building Information Modeling) solution that automatically creates a public ledger of a building construction status by minting an NFT (Non-Fungible Token) for an .ifc (Industry Foundation Classes) file. These .ifc files are used in BIM software to exchange information between different applications and systems in the AEC industry. The Arcartera Dapp works by offering the user to upload an .ifc file, and the user has to pay a number of ARCA coins using their Metamask wallet. ARCA coins are Arcartera’s own Blockchain tokens used to pay for services and network fees. Once the file is uploaded to an Arcartera server, the user will receive an NFT that authenticates and time-stamps the uploaded file. This innovative solution offers greater transparency and security to the construction process, while also facilitating the exchange of critical information between all stakeholders involved.

Arcartera Limited has a proven track record of delivering cutting-edge solutions to the AEC industry. The company was endorsed by the Hong Kong Central Bank (HKMA) for its stable-coin project and was officially mentioned as a contributor on their website and press release. This endorsement further solidifies Arcartera’s commitment to developing innovative solutions that meet the needs of its clients. With the launch of its public Dapps, Arcartera is once again demonstrating its ability to adapt and evolve to the changing needs of the market.

For more information about Arcartera Limited and its innovative solutions for the AEC industry, please visit www.Arcartera.com or contact us by following @ArcarteraLTD on Twitter and Telegram.

Arcartera Officially Listed by Hong Kong Central Bank

Arcartera Officially Listed by Hong Kong Central Bank

Hong Kong Government Continues to Embrace Crypto and Digital Assets, Invites Participants to Provide Guidelines on Stable Coins

China, Hong Kong, 1st February 2023

Arcartera Limited is a web3 start-up that is building blockchain infrastructure for the Architecture, Engineering, and Construction (AEC) industry. The company is a pioneer by having an actual unique use-case for blockchain technology: It’s protocol has the potential to improve AEC segments like Facility Management, Supply Chain Management, as well as Architect and Contractor Payments. With the Hong Kong Government continuing to embrace crypto and digital assets, Arcartera Limited is proud to announce that they have been officially listed by the Hong Kong Central Bank as a participant in their Stable-Coin Project.

As part of their work on Web3 Payments, Arcartera developed a protocol that can also be beneficial for the Hong Kong Monetary Authority (HKMA). This protocol was submitted to the HKMA in 2022 and has been officially endorsed by them. The inclusion of Arcartera in their official report on the government website further underlines Arcartera’s work and the recognition it has received from a central bank. This is a significant achievement for Arcartera Limited and highlights the potential of blockchain technology for improving payment systems in the AEC industry.

Gregor Hans Schoener, Arcartera’s CEO, expressed his pride in this achievement, saying, “We are extremely proud of this achievement. It’s a milestone for any web3 startup to be recognized, but being officially mentioned on a government website really shows our ambitions for the Arcartera Protocol and the whole AEC / Blockchain industry.”

Arcartera Limited is a blockchain infrastructure start-up that was founded in January 2022. The company’s primary focus is on building blockchain-based solutions for the AEC industry, and it has quickly achieved significant milestones in this area. In addition to being listed as a participant in the Hong Kong Central Bank’s Stable-Coin Project, Arcartera was also chosen by the Hong Kong FinTech Week as a designated speaker to discuss how blockchain can benefit the AEC industry.

For more information about Arcartera Limited, please visit our website at www.Arcartera.com, or follow our Twitter or Telegram at @ArcarteraLTD.

Arcartera Limited officially listed by HKMA

Architecture Engineering & Construction Panel on Blockchain Benefits

Welcome to our video on the benefits of Blockchain in the Architecture, Engineering, and Construction (AEC) industry. The AEC industry is known for its complex and multifaceted projects, and Blockchain technology offers a solution to improve efficiency and transparency in these projects.

One major benefit of Blockchain in the AEC industry is the ability to securely share and access project information in real-time. With Blockchain, all stakeholders – including architects, engineers, contractors, and clients – can access and update project data in a secure and tamper-proof manner. This improves collaboration and reduces delays caused by a lack of access to critical information.

Another benefit of Blockchain in the AEC industry is the ability to track and verify the authenticity of materials and components used in a project. By using smart contracts and RFID tags, Blockchain technology can create an immutable record of materials and components used in a project, ensuring that they meet the necessary standards and regulations.

In addition, Blockchain technology can also improve the efficiency of the bidding and procurement process for AEC projects. By using Blockchain-based platforms, contractors can submit bids and proposals in a secure and transparent manner, reducing the risk of fraud and corruption.

Overall, Blockchain technology has the potential to revolutionize the AEC industry by improving collaboration, transparency, and efficiency in projects. We hope this video has provided you with a better understanding of the benefits of Blockchain in the AEC industry and how it can be applied to improve the building process.

Thank you FinTech Week

We highly appreciate the opportunity to support the Hong Kong FinTech Week 2022 as designated speakers. A special thanks has to go to Finoverse, the organizers of the event, as well as to Hong Kong HKMA and Invest HK who gave the initial sparks for us to follow this path.

We will post the speech soon, how Blockchain can benefit the AEC Industry (Architecture Engineering and Construciton).

In the photo Left: Arthur Ha Ming Chak, Arcartera Limited Chief Complience Officer

In the photo Right: Gregor Hans Schoener, Arcartera Limited Chief Executive Officer

Photo Credits: Finoverse Limited

Speaker at FinTech Week

Arcartera Limited’s CEO, Gregor Hans Schoener, will be a speaker at this year’s FinTech Week in Hong Kong. HKFTW (Hong Kong FinTech Week 2022) invited Arcartera to be a designated content supporter at the event.

Creator of the Arcartera Protocol, the company focuses on Blockchain Infrastructure for AEC. AEC stands for Architecture, Engineering and Construction, a field that is widely believed to benefit most from the introduction of Web3. This industry is often critiqued because of its inefficiency and low productivity. Smart Contracts can control Building Management and trigger payments to Contractors. Arcartera. had previously been endorsed for their Stable Coin payment gateway by the HKMA, Hong Kong’s defacto central bank.

It is for the team’s vast knowledge and experience in Blockchain Development that their CEO was chosen as speaker, and naturally his speech will concentrate on how Smart Contracts can benefit the Construction Industry.


Gregor Hans Schoener studied Computer Science in Germany before emigrating to Hong Kong. He speaks 7 languages fluently and strongly believes that Blockchain should have real life use cases with revenue streams in place.

Arcartera is a Hong Kong based Developer of Blockchain Infrastructure that has previously received an official Letter of Appreciation from the country’s Monetary Authority (HKMA). 

Gregor Hans Schoener is a speaker at the Hong Kong FinTech Week 2022

Blockchain for the Construction Industry

New video is online now:

How Blockchain can benefit Architectural Engineering and Construction 

The construction industry is often critiqued because of its inefficiency and low productivity. 

The disaggregated structure of the construction industry, its sequential nature where works need to be done in a sequential and chain resembling system, and the number of stakeholders with different interests involved in each project are named as root causes of its problems. 

Blockchain is one of the tools that can help to overcome the acknowledged lack of trust and inadequate information sharing technologies in Architecture, Engineering, and Construction industry. Blockchain, due to its working system, would eliminate the need for trust between the parties or the need for confrontational contractual relationships due to the lack of trust. 

We have identified six areas of blockchain technology’s applications in the built environment sector: 

  • 1)  Smart contracts
  • 2)  Supply chain Management
  • 3)  Building Information Modeling (BIM)
  • 4)  Facility Management
  • 5)  Sustainability
  • 6)  Metaverse


A smart contract can be defined as a computer program consist of if/then statements dividing the work into smaller measurable work packages and automating the process of compliance and payment. 

The conditions where each work package or milestone is considered complete is defined, and the completion of each one would trigger the predefined compensation automatically. 

The information recorded in blockchain would clearly show who is responsible for what work at what time. Any tempering and change in the project data would make that block of information invalid, and it is fully traceable to the party at fault. In other words, the data recorded in the blockchain network is secured and tempered proof. The underlying assumption of construction contracts is that most of the rights and obligations of stakeholders are against each other. This environment is in direct contrast to the new collaborative project delivery methods, such as BIM requires. 


The decentralized and fragmented structure of the construction industry’s supply chain very well pair with the decentralized ledger system of blockchain. Blockchain can provide the infrastructure needed to securely and reliably advance material traceability. Smart contracts can play a role in supply chain management and material tracing too. Both supplier and buyer can be assured that they are going to get compensated for their money/product by using a smart contract. 

Building Information Modeling (BIM) 

The introduction of BIM to the AEC industry provided a shared data environment where all the information is stored in a shared project file. The location and maintenance of this shared data environment presented a new challenge. Blockchain technology is a promising solution to such a problem. An always current distributed ledger system with high security, which can be used as an infrastructure for maintaining up to date BIM models during the project Lifecycle between the 

involving stakeholders. BIM provides a single project environment where all the information regarding the project is created and stored there. Blockchain provides a single platform to maintain and update that project environment and connect it with the reality of site work. This would provide a time-stamped, tampered proof data. 


Integration of blockchain and BIM or Building Maintenance System (BMS) would provide a reliable integrated system which can provide the complete history of the project and also trace every detail of the building to its source. Furthermore, this integration can stretch to the future and use smart contracts when maintenance is needed to automatically place a work order and upon the verification of completeness, release the payment to the contractor. 


The material transparency discussed in supply chain section would have an impact in sustainability in areas such as whole life cycle cost, carbon emission estimates, and raw material verification. For instance, the designers or users can make a sustainable choice by using material traceability through blockchain up to the source of any product’s raw materials. 


Existing CAD files for a real world building project can be converted into a Meta-Verse, to be shared among designers and also with customers. Once approved, the Meta-Verse displaying the actual building can be a place for Sub-Contractors that are responsible for a particular material or location, fulfilling their smart-contracts mentioned above. 


Arcartera Limited has a strong team of Blockchain Software Engineers. Our knowledge can assist your Architectural journey to the blockchain. Contact us today to learn more about what we have done already and what can do for you.

Contact Arcartera Limited for more details on Blockchain benefits for your government or company, we develop custom infrastructure solutions for you.

Press Release HKMA & Arcartera

PRESS RELEASE, Hong Kong 22nd July 2022

HKMA recognises Arcartera’s work on Digital Blockchain Assets

Arcartera Limited, a Hong Kong based Developer of Blockchain Infrastructure, has received an official Letter of Appreciation from the country’s Monetary Authority. 

Governments around the world are aware of the rapidly changing financial environment brought to us by Crypto Currencies. Keeping this objective in the spotlight, they have been putting in a mixed effort to influence the use of those digital assets.

Though a major concern has risen over the regulation of block-chain products, Arcartera Limited has chosen to embrace officially endorsed government works, in contrast to many decentralised tokens such as Bitcoin.

The team had been developing Web3 Infrastructure for many years, with a special focus on stable-coins. These are tokens that are usually pegged across a fiat, or physical currency, which act as the means of moving in and out of trading cryptocurrencies.

Involving governments in improvising and creating their own stablecoins would provide them a source for practicing conditional cash transfer programs under profitable conditions. Realizing such potential benefits of inducing digital currencies within the current system, Arcartera Limited has been putting in some great efforts.

As an answer to these efforts, Arcartera received an official Letter of Appreciation from the Hong Kong Monetary Authority (HKMA) on the 19th of July 2022. This letter was based as an appreciation for the consultation and feedback provided on the e-HKD token, a project where the HKMA plans to set up their digital currency, which would act as a stablecoin. The e-HKD token would be developed across the blockchain technology, and it would significantly act as the electronic Hong Kong dollar for the users.

As HKMA has been working on creating this digital innovation, they issued a discussion paper earlier this year, which was taken as the basis of the feedback by Arcartera Limited. The letter was sent as an appreciation reply for such an in-depth overview aligning with the current conditions. Talking about the feedback provided by Arcartera Limited, it also constituted a complete technical proposal that outlined the outlook of the digital innovation along with the risks that would be associated with its creation and utility.

Arcartera’s founders have put in their role in building blockchain technology and assorted infrastructure for many years. Getting an official letter from such a renowned government organization is a great endorsement of their work and efforts in the industry.

The team is looking forward to the HKMA’s official report on the project that is to be published in the later months of 2022, which would enable them to provide further cooperation toward positive development.

HKMA Stable Coin Letter of Appreciation Hong Kong Monetary Authority Arcartera Limited

HKMA signs LOA

On July 19th, 2022, HKMA has issued an official Letter of Appreciation to Arcartera Limited, for their their consultation and feedback. As Hong Kong’s official monetary authority, HKMA plans to build a digital currency, a so called stable coin, based on blockchain technology, an electronic Hong Kong Dollar.

In the letter, HKMA thanks Arcartera for sharing their thoughts on the e-HKD discussion paper which was issued earlier this year. Arcartera had made a technical proposal, detailing how such electronic Hong Kong Dollar could technically look like, and what risks may be involved. 

Arcartera’s founders had been involved in building Blockchain technology and infrastructure for many years. An official letter from such renowned government organisation is a great endorsement for their work. The team shall look forward to HKMA’s official report which will be published later in 2022, and potential further cooperation is highly anticipated.

About HMKA

HKMA is Hong Kong’s official Monetary Authority.  It is Hong Kong’s central banking institution. It is a government authority founded on 1 April 1993 when the Office of the Exchange Fund and the Office of the Commissioner of Banking merged. The organisation reports directly to the Financial Secretary.

About Arcartera Limited

Arcartera Limited was registered in May 2022, but its founders have many combined years of experience in crypto-technology as well as blockchain infrastructure. The creation of stable coins as a means of electronic payment is one of the company’s core strengths. The company consults blue-chip listed corporations in their transformation from WEB2 to WEB3 with block-chain integration into their existing IT environment. It’s two directors are Greg Schoner and Arthur Ha: Greg worked for Germany’s largest bank where he implemented the first internet banking structure in 1998. Arthur has intensive experience in Service & Payment environments. Together they look forward to revolutionise the emerging crypto world. We invite you to learn more at www.Arcartera.com .

HKMA Stable Coin Letter of Appreciation Hong Kong Monetary Authority Arcartera Limited