The collaboration between The Hong Kong University of Science and Technology (HKUST) and OKX has been announced to undertake a groundbreaking research project focusing on zero-knowledge (ZK) proofs and the development of innovative cryptographic protocols.
The primary goal of this initiative is to enhance the efficiency and scalability of ZK decentralized exchanges (ZKDEXs).
Aligned with the Hong Kong government’s recent emphasis on Web3, this partnership highlights the commitment of both OKX and HKUST to foster the regional Web3 ecosystem and accelerate the advancement of Web3 innovations.
Led by Professor Dimitris Papadopoulos, the HKUST team possesses advanced expertise in technology, with a notable track record in artificial intelligence, ZK-proofs, and cryptography.
By leveraging this collaboration with the extensive knowledge of the OKX Web3 team in blockchain and virtual assets, the aim is to translate cutting-edge blockchain technologies into practical commercial applications.
The potential impact of this partnership on the overall growth of the blockchain sector, both locally in Hong Kong and on a global scale, is substantial.
Jason Lau, Chief Innovation Officer at OKX, emphasized, “OKX is dedicated to integrating emerging technologies into the market. Our utilization of ZK technology in Proof of Reserves enhances customer privacy, while its application in our layer 2 network, X Layer, provides scalability advantages.”
Echoing this sentiment, Dimitris Papadopoulos, Associate Professor at the HKUST Department of Computer Science and Engineering, affirmed, “HKUST strongly supports the HKSAR Government’s vision to establish Hong Kong as a prominent international Web3 and virtual asset hub.”
Papadopoulos stressed the importance of developing new, state-of-the-art technologies to drive innovation and raise public awareness and acceptance of relevant technologies. The collaboration with OKX is viewed as a pivotal step in this direction.
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