<p>Ethereum development studio ConsenSys has been awarded a central bank digital currency (CBDC) study project by the Hong Kong Monetary Authority (HKMA).</p> <p>ConsenSys <a href="https://consensys.net/blog/press-release/consensys-selected-by-hong-kong-monetary-authority-for-phase-two-of-project-inthanon-lionrock/">announced</a> the news on Friday, saying that it will develop technology for the HKMA’s digital currency proof-of-concept. ConsenSys will work with PwC and fintech firm Forms HK on the project.</p> <p>Specifically, the trio would work on the second implementation phase of the project <a href="https://www.theblockcrypto.com/linked/46241/hong-kong-and-thailand-plan-to-release-their-digital-currency-project-report-by-q1-2020">Inthanon-LionRock</a>, that initially began in 2018. “ConsenSys is thrilled to lead this implementation of CBDC for cross-border payments,” said Charles d’Haussy, director of ConsenSys Hong Kong.</p> <p>Using its enterprise Ethereum stack, ConsenSys said it would test solutions that prioritize scalability, security, and interoperability.</p> <p>ConsenSys has previously worked with two central banks — <a href="https://www.mas.gov.sg/schemes-and-initiatives/project-ubin">the Monetary Authority of Singapore</a> (Project Ubin) and <a href="https://consensys.net/blockchain-use-cases/finance/project-khokha/">the South African Reserve Bank</a> (Project Khokha) — for developing their decentralized payment networks.</p>