zCloak Network Accepted by Hong Kong Cyberport Incubation Programme
zCloak Network is excited to announce that in February 2023, we have been accepted into the Cyberport Incubation Programme in Hong Kong as a new member of the Cyberport community. According to Cyberport’s information, more than 180 companies participated in the selection process, and 45 of them were selected for the incubation program. zCloak Network is one of the six blockchain technology companies successfully selected for the program.
Cyberport is the largest financial technology community in Hong Kong, with over 380 fintech companies dedicated in various fields such as Blockchain, Network Security, Artificial Intelligence, Big Data, Wealth Management, and Trading Engineering. It provides comprehensive entrepreneurial support and value-added services to local and overseas fintech companies to help them in their course of development. Cyberport offers over 47,000 square feet of shared office space specially designed for fintech companies. It is also actively collaborating with global regulators, industry leaders, financial institutions, accelerators, and the academic community to enhance the fintech entrepreneurial environment.
The Cyberport Incubation Programme will provide incubatees with subsidies up to HKD 500,000 for talent and research, as well as support for professional training, business development, and professional consulting. These resources will help us better develop our technology and business, expanding our global reach. We believe zCloak technology will have a wide range of applications and large market potential in an international financial center like Hong Kong.
zCloak Network, a privacy-first DID service platform based on zero-knowledge proof technology, is committed to providing a secure, efficient, and privacy-first computing and identity solution. Based on core technologies such as W3C DID, verifiable credentials, and zero-knowledge proof virtual machines, we enable users to perform zero-knowledge proof computation on their local device, and disclose only the computation result without revealing any personal data. It provides a convenient, efficient, and secure privacy computing environment while fully protecting user privacy.
zCloak Network adopts the business model of “Zero-Knowledge Proof as a Service,” and aims at building a one-stop multi-chain privacy computing infrastructure. We hope to have the opportunity to work with major financial institutions in Hong Kong to provide safer, more efficient, and stronger privacy-level financial services, in order to help promote the digitalization of the financial industry, and contribute to the development of HK’s financial sector.
In addition, as the next development stage of blockchain technology, Web3 will become an important section of the digital economy. We hope to apply our technology to decentralized applications and decentralized finance to improve the development of Web3 in Hong Kong, and provide more diversified financial services to the world with Hong Kong as the starting point.
We also expect to work closely with the HKMA (Hong Kong Monetary Authority) and all major financial institutions to jointly promote technological innovation and digital transformation in the financial industry. We sincerely hope to bring more value and innovation to Hong Kong and global financial markets, and inject new vitality and energy into the digital economy, making Web3 in HK a new growth point and competitive advantage for Hong Kong.
