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HKMA discussion started

Arcartera Limited has been in close contact with the Hong Kong Monetary Authority (HKMA) since the beginning of the public e-HKD discussion. A discussion paper was recently published, with 12 questions attached, to continue paving the way for an official digital Hong Kong Dollar, potentially as Stable Coin:

1. Do you agree that e-HKD can bring potential benefits as described? Do you see other potential benefits?

 
2. How can e-HKD implement the suggested use cases better than the existing e-payment means? Apart from programmability, what other technologies would bring new use cases for e-HKD?
 
3. How do you see the demand for e-HKD as a means of payment? What other design features would promote the use of e-HKD?
 
4. Do you agree with the description of challenges brought by e-HKD? Do you see other challenges? Are there any other measures that can mitigate the adverse impacts of e-HKD? How would these measures affect the attractiveness of e-HKD? 
 
5. How can e-HKD assist in the detection of illicit activities while preserving user privacy at the same time? 40 e-HKD: A Policy and Design Perspective 
 
6. What types of financial institutions should be responsible for distributing e-HKD? Should the functionalities of the e-HKD wallet be allowed to differ among the financial institutions? 
 
7. How should e-HKD be designed to achieve interoperability with existing payment systems? Are there any technological barriers that would prevent the acceptance of e-HKD? 
 
8. Should there be different types of e-HKD wallets based on the level of personal information required? If so, what should the corresponding transaction/holding limits for each type of wallet be? 
 
9. Are there more design considerations to be included in the e-HKD study? Would you be able to identify some trade-offs around such considerations? 
 
10. How could the private sector contribute to the e-HKD journey? 
 
11. Are there any other legal considerations, in addition to those discussed in this paper, which should be considered in designing a legally robust e-HKD? 
 
12. Are there any other policy considerations which are relevant to e-HKD but not covered in this discussion paper?
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Arcartera Coin and Utility Token have been minted

The Arcartera Coin and it’s Utility Token have both been successfully created on the Ethereum Layer 2 Network Polygon.

The contract address for the Arcartera Coin is:

0x25F1bD9E22e4c517f75eEA15977264132d74D9e8

Arcartera Coin is used to pay for Merchant Fees of Stable Coins (Such as HKD Token) that have been created on the Arcartera Protocol.

With the growing numbers of merchants, the need to purchase this coin will grow and the market demand will likely push the price higher.

There is a total supply of 88 Billion Coins, with an initial Liquidity Pool of around 55 Million Coins.

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Current status of our company and network

THE COMPANY

The company Arcartera Limited has finished the formation process and is now fully registered under the laws of the Hong Kong Special Administrative Region.

Our accountant had previously prepared the needed documents, which just had to be signed and handed in to the Company Registry.

The Company Registry had processed all documents and registered our company successfully.

THE NETWORK

On the technical side, we have successfully launched a few test-pilot launches on the Ropsten Ethereum Network. Tokens were created and moved along a prototype Sharding Account. The tests had been performed for our smart ARCARTERA TOKEN as well as for our DIGITAL HONG KONG DOLLAR STABLECOIN.

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Digital HKD Dollar Whitepaper – Abstract in Chinese

HK COIN TOKEN CRYPTO STABLE HKD

HKD Token 是基於香港支付系統的一種stable-coin。它附有智能手機的應用APP, 和一張RFID Card。RFID Card能方便的給兒童、老年人和遊客使用。

HKD Tokens 是穩定的,因為它是以1:1的比例與港元掛鉤。再加上Blockchain技術 的創新性,使它們能完美的結合在一起。它們很聰明,因為它們不但允許支付,而且 還可以紀錄你所支付的所有支持HKD Tokens商戶的Reward Points,或其他Loyalty 計畫。

如何操作?

用戶可以在支持HKD Tokens的合作商店內存入港元現金,或者直接過數到公司的銀行帳戶以兌換成HKD Tokens。

HKD Tokens 會存入到用戶的智能手機App,或者RFID card裡。存入的HKD Tokens的數量與用戶存入的港元金額是一致的。

HKD Token 能用於交易:使用你智能手機上的HKD Token App支付,或者使用 Token card支付。對於接受使用HKD Tokens的商戶,在每筆的交易中需要支付少量 的費用,而對於用戶是免費的。

用戶可以將其HKD Tokens兌換回港元。只需要使用該應用APP或登陸 www.HKD.to 並申請轉帳。

HKD Tokens 從系統中移除,用戶可將等量的港元返還至其銀行帳戶。

HKD Tokens由發行人嚴格控制,並以1:1的港元法定貨幣在一個特許的銀行帳戶中進

行兌換。這是維持系統償付能力的主要過程。

任何擁有HKD Token APP的用戶,都可以轉出和轉入它們。由於HKD Tokens Blockchain Assets, 用戶甚至可以將它們轉出到世界各地。

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Digital Hong Kong Dollar Whitepaper started

HK COIN TOKEN CRYPTO STABLE HKD

Preparing for first rounds of seed-funding, Arcartera Limited has started to write its white-paper, declaring its company vision, mission and more.

In the first part, an abstract and idea for a digital HK$ on the Blockchain was formed. We update you in our news step by step as new content is added, but you can also go to our official page : HKD Token the White Paper to see the full document.

PART 1: ABSTRACT

 

ABSTRACT IN ENGLISH

HKD Token is a stable-coin based payment system for Hong Kong. It comes with a smartphone app, and also has a physical RFID Card. Latter is a great idea for kids, senior citizens and tourists.

HKD Tokens are stable, because they are pegged to the Hong Kong Dollar on a 1:1 basis. Coupled with the innovative nature of blockchain technology makes them a perfect combination of both worlds. They are smart because they not only allow for payments but can also be extended to be used with Reward Points or other Loyalty Schemes. 

How do they work?

  1. A user deposits Hong Kong Dollar Cash at a store that supports HKD Tokens, or direct into the company’s bank account.
  2. HKD Tokens are sent to the users’ Smartphone App, or a Card is issued. The amount of issued HKD Tokens that enter circulation is equal to the users’ deposited amount of Hong Kong Dollars.
  3. The HKD Tokens are used for transactions: Pay with the HKD Token App on your smartphone, or use the physical Token Card. Merchants that accept HKD Tokens pay a small fee for the process, while the process is free to the user.
  4. A user can change their HKD Tokens back to Hong Kong Dollars. Simply use the app or visit www.HKD.to and request a transfer.
  5. The tokens are removed from circulation, and the user receives the equal amount of Hong Kong Dollars back to his bank account.

HKD Tokens are strictly controlled by its issuer and backed 1:1 by HK$ Fiat Currency in a special bank account. This is the main process by which the systems solvency is maintained.

Anyone with the HKD Token App can send and receive them. Since HKD Tokens are Blockchain Assets, users can even send them world wide.

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HKD Token – A digital Hong Kong Dollar on the Blockchain

Arcartera Limited, a pioneer of digital currency, is disrupting the conventional financial  system in Hong Kong with their new HKD Tokens.

What is it? 

HKD Token is a stable-coin based payment system. It comes with a smartphone app, but also has a physical card, which is similar to existing cards that you know from public transport. This makes HK Tokens a perfect entry to Blockchain, for you, for kids, senior citizens and tourists.

And HKD Tokens are stable, because they are pegged to the Hong Kong Dollar on a 1:1 basis. Unlike Crypto Currency, they don’t change value. They are just like a digital Hong Kong Dollar. 

A traditional payment system, coupled with the innovative nature of blockchain technology makes them a perfect combination of both worlds. 

How does it work? 

There are 5 steps in their life cycle:

Step-1: A user deposits Hong Kong Dollar Cash at a store that supports HKD Tokens, or direct into the company’s bank account.

Step-2: HKD Tokens are sent to the users’ Smartphone App, or a Card is issued. The amount of issued HKD Tokens that enter circulation is equal to the users’ deposited amount of Hong Kong Dollars.

Step-3: The HKD Tokens are used for transactions: Pay with the HKD Token App on your smartphone, or use the physical Token Card. Merchants that accept HKD Tokens pay a small fee for the process, while the process is free to the user.

Step-4: A user can change their HKD Tokens back to Hong Kong Dollars. Simply use the app or visit https://www.HKD.to and request a transfer.

Step-5: Arcartera removes the tokens from circulation, and sends the equal amount of Hong Kong Dollars back to the users bank account.

Arcartera is the only party that can issue HKD Tokens into circulation or take them out of circulation. This is the main process by which the systems solvency is maintained.

Aside from the aforementioned process, users can also send and receive HKD Tokens currently in circulation. Anyone with the HKD Token App can send and receive them. Since HKD Tokens are Blockchain Assets, users can even send them world wide: Any person that has a crypto wallet, can receive HKD Tokens. 

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Successful Testnet launch for Arcartera Token

Hong Kong, 9th of March 2022 – Arcartera Limited has successfully launched a Testnet Prototype of their Arcartera Token. Unlike HKD Tokens, which are pegged to the HK$ as a Digital Hong Kong Dollar, Arcartera Tokens are planned to be a crypto-currency.

Arcartera is testing scenarios for such Altcoin, which for example could be used to pay for the merchant fees, when HKD-Tokens are used in the market.

The next step will be a progression to a live Block-Chain for further testing. Right now, the Token is on the Ropster network, which is based on Ethereum.  

Ropsten Ethereum (also known as “Ethereum Testnet”) is an Ethereum test network that allows for blockchain development testing before deployment on Mainnet, the main Ethereum network. 

Ropsten is the successor of Morden, the first Ethereum Testnet.

The development of HKD Token as a stable coin, pegged 1:1 to the Hong Kong Dollar, is not affected. 

Stablecoins are cryptocurrencies that attempt to peg their market value to some external reference. Stablecoins may be pegged to a currency or to a commodity’s price such as gold.

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HKD Token procured IP Rights

Hong Kong, 28th of February 2022 – Arcartera procured IP Rights by registering trademarks for their stable coin brand HKD Token.

The included marks are: HKD TOKEN, HK TOKEN as well as HKG TOKEN. While HKD TOKEN refers to the HKD Currency, as in Hong Kong Dollar Token, the other 2 marks are part of a series. HK TOKEN as well as HKG TOKEN refer to HONG KONG TOKEN.

Arcartera decided to protect its brand in the following 4 classes: 9, 35, 36 and 38.

Class 9:

Software for use in connection with transferring, managing and processing cryptocurrency, digital currency, virtual currency, and digital tokens based on blockchain technology.

Class 35:

Systemization of data into blockchain databases; data search in blockchain databases for others; organization / operation and supervision of loyalty and incentive schemes.

Class 36:

Banking and financial services; providing digital currency, virtual currency, cryptocurrency and digital tokens based on blockchain technology.

Class 38:

Electronic transmission of data, namely, digital currency via electronic communication networks and electronic device