Congratulations to our partner Hong Kong Federation of Insurers (HKFI) on winning the Gold Award for MIDAS in the Banking, Insurance and Capital Markets category, from the Hong Kong ICT Awards (HKICT) 2020.
MIDAS, known as Motor Insurance DLT-based Authentication System, is a collaborated initiative between the Hong Kong Federation of Insurers (HKFI) and CryptoBLK. This award recognizes MIDAS for its authentication service powered by blockchain technology and the pioneering nature of its privacy protection.
MIDAS aims to serve all the motor insurance companies in Hong Kong, the Hong Kong Transport Department, and the general public, adding greater security, accountability, transparency, and representing a major milestone in the digitization efforts of the Hong Kong insurance industry. Since the launch of MIDAS in 2018, more and more insurers have embraced MIDAS and produce e-cover notes via the platform.
Dr Duncan Wong, CEO and Co-founder of CryptoBLK, said, “We know HKFI is constantly looking for innovative ways to create an ecosystem and deliver values to its members, stakeholders and the insuring public. We are pleased to help attain such goal through deploying cryptographic technologies. Once again, MIDAS demonstrates how DLT can act as a catalyst to accelerate an industry-wide digital transformation.”
In addition to winning the HK ICT Award, MIDAS also won the Innovation of the Year Award from the Asia Insurance Award 2019 and the Technological Achievement Award from the Hong Kong Awards for Industries 2019.
About Hong Kong ICT Award
The Hong Kong ICT Awards aims at recognizing and promoting outstanding information and communications technology (ICT) inventions and applications, thereby encouraging innovation and excellence among Hong Kong’s ICT talent and enterprises in their constant pursuit of creative and better solutions to meet business and social needs.
The Hong Kong ICT Awards was established in 2006 with the collaborative efforts of the industry, academia and the Government. Steered by the Office of the Government Chief Information Officer, and organized by Hong Kong ICT industry associations and professional bodies, the Awards aims at building a locally espoused and internationally acclaimed brand of ICT awards.