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Zawya
40 minutes ago
- Zawya
HKSTP Takes Nine Game-Changing AI Tech Ventures to WAIC 2025 to Advance China's AI Plus Vision in Transforming Business and Industry
HONG KONG SAR / SHANGHAI, CHINA - Media OutReach Newswire - 27 July 2025 - Hong Kong Science and Technology Parks Corporation (HKSTP) is embarking on a mission to advance China's AI Plus vision with nine Hong Kong AI park companies at the World AI Conference & High-Level Meeting on Global AI Governance (WAIC) 2025, taking place from July 26-29 in Shanghai, China. In collaboration with the Hong Kong Trade Development Council and Cyberport, HKSTP is leveraging Hong Kong's growing global AI innovation hub status to advance the China's strategic AI initiative and applying AI and big data to transform old and new industry sectors to boost a new era of growth. Mr. Eric Or, Acting Chief Corporate Development Officer, HKSTP, said: "Hong Kong is a crucible for world-class AI innovation and our unique HKSTP ecosystem provides an ideal platform to empower AI tech firms with global fluency and pave the way for global expansion. By taking local tech companies on a global growth journey and attracting more international startups to land Hong Kong and integrating into the Mainland China or even the Asia markets means a growing critical mass of world-class AI innovators is created. This influx of global talent and technology will accelerate the country's high-tech industry and economic development, further fueling the national drive for new quality productive forces." The nine park enterprises participating in the Hong Kong Pavilion cover technologies in life and health tech, fintech, entertainment, aerospace tech, digital education and more, highlights included: Hong Kong Space Robotics and Energy Centre Limited (HKSRE) is an InnoHK R&D centre focuses on aerospace technology R&D to foster international collaboration for the Chang'e-8 mission. It brings together institutions from local and overseas to jointly develop the mission's Hong Kong-operated robot—a multifunctional lunar surface operations and mobile charging system. Centre for Artificial Intelligence and Robotics (CAIR) Hong Kong Institute of Science & Innovation Chinese Academy of Sciences is another InnoHK R&D centre, showcases MicroNeuro, the world's first flexible robotic system for minimally invasive neurosurgery to address challenges of fragile brain tissue and confined spaces, surpassing human surgical limits. Digital Domain, a global leader in Hollywood visual effects and AI virtual human technologies, showcases the AI-powered video creation solution "HANBAO" and "AI DOMAIN", an all-in-one content creation platform, empowering creators to tailor high-quality short videos for online platforms. Digital Domain has set up its state-of-the-art R&D centre in Hong Kong, driving the innovative development among entertainment and cross-industry. In addition to the showcase of tech firms, HKSTP also hosted a provoking panel discussion at WAIC 2025, exploring the theme of: "From Hong Kong to global impact: Shaping the future with AI and New Quality Productive Forces for Cross-industry Growth", moderated by Ms Pheona Kan, Director of Business Development at HKSTP with the fellow scientists and experts from the field. The discussion highlighted how Hong Kong has a unique role in global AI development by uniting international talent and technology behind the city's AI vision which also aligns with China's vision to transform industry through quality productive forces. As the largest I&T ecosystem in Hong Kong, HKSTP is home to over 500 AI startups, including home-grown unicorns that are shaping the future of artificial intelligence. In alignment with Hong Kong's bold vision for technological leadership, the HKSTP San Tin Technopole Campus—a 20-hectare site within the soon-to-be-built San Tin Technopole—will serve as a critical catalyst for the city's next wave of innovation. Strategically located in the heart of the Northern Metropolis, the Campus is poised to become a flagship landmark for AI+ and beyond, aiming to promote its widespread development and application across sectors. This year, WAIC 2025, themed "Global Solidarity in the AI Era," will bring together top scientists, global leaders, entrepreneurs, policymakers, and innovators in the AI ecosystem. KSTP's participation at WAIC 2025 is a testament to Hong Kong's role as a bridge between Chinese and global innovators, fostering collaboration and exchange of ideas, technologies, and governance philosophies. Appendix 1: List of park companies at Hong Kong Tech Pavilion Centre for Artificial Intelligence and Robotics, Hong Kong Institute of Science & Innovation, Chinese Academy of Sciences (CAIR) ClusterTech Limited Digital Domain Hong Kong Centre for Cerebro-cardiovascular Health Engineering (COCHE) HK INBOT TECHNOLOGY LIMITED Hong Kong Space Robotics and Energy Centre Limited MattVerse Limited Metapool Technology Limited Ultipa Hong Kong Limited Hashtag: #HKSTP The issuer is solely responsible for the content of this announcement. About Hong Kong Science and Technology Parks Corporation Hong Kong Science and Technology Parks Corporation (HKSTP) was established in 2001 to create a thriving I&T ecosystem grooming 13 unicorns, more than 15,000 research professionals and over 2,300 technology companies from 26 countries and regions focused on developing healthtech, AI and robotics, fintech and smart city technologies, etc. Our growing innovation ecosystem offers comprehensive support to attract and nurture talent, accelerate and commercialise innovation for technology ventures, with the I&T journey built around our key locations of Hong Kong Science Park in Pak Shek Kok, InnoCentre in Kowloon Tong and three modern InnoParks in Tai Po, Tseung Kwan O and Yuen Long realising a vision of new industrialisation for Hong Kong, where sectors including advanced manufacturing, micro-electronics and biotechnology are being reimagined. Hong Kong Science Park Shenzhen Branch in Futian, Shenzhen plays positive roles in connecting the world and the mainland with our proximity, strengthening cross-border exchange to bring advantages in attracting global talent and allowing possibilities for the development of technology companies in seven key areas: Medtech, big data and AI, robotics, new materials, microelectronics, fintech and sustainability, with both dry and wet laboratories, co-working space, conference and exhibition facilities, and more. Through our R&D infrastructure, startup support and enterprise services, commercialisation and investment expertise, partnership networks and talent traction, HKSTP continues to contribute in establishing I&T as a pillar of growth for Hong Kong. More information about HKSTP is available at Hong Kong Science and Technology Parks Corporation
Crypto Insight
4 hours ago
- Crypto Insight
Wrench attacks drive crypto investors to centralized custodians
Crypto custodians are reporting increased interest in their services amid the rising frequency of so-called '$5 wrench attacks' on cryptocurrency traders, investors and project leaders. In the last year, several high-profile wrench attacks — physical attempts to steal someone's crypto — have targeted prominent investors and business executives in the blockchain industry. The crypto mantra of 'not your keys, not your coins' has lost its power among some investors who fear for their personal safety. Cold wallets may offer full control over digital assets, but they also present a single point of attack. As crypto adoption grows, and wrench attacks persist with the proliferation of more high-value crypto investors, custodians are seeing a shift in preference from self-custody to institutional control. Crypto wrench attacks drive security demand Wrench attacks are nothing new. Jameson Lopp, a Bitcoin advocate and chief technology officer of Bitcoin wallet Casa, published a GitHub repository logging hundreds of such incidents since 2014 — and those were only the ones reported in the news. In the last two to three years, as crypto adoption has sped up and become more mainstream than ever, attacks have grown more public and sophisticated. In January 2025, the founder of crypto wallet Ledger and his wife, David and Amandine Balland, were kidnapped, taken to separate locations and held at ransom. Just months later, the daughter of an exchange founder barely fought off attackers who attempted to kidnap her in a van on the streets of Paris. Concern over the rise in attacks and their similar methods led French Interior Minister Bruno Retailleau to meet with cryptocurrency professionals to discuss the issue. As concern over these attacks grows, crypto custodians are noticing an uptick in interest in their services. Emma Shi, over-the-counter and institutional sales director of HashKey, which offers custody and exchange services, told Cointelegraph, 'We're absolutely seeing rising retail anxiety translate into meaningful inflows. Wealthier retail investors are increasingly approaching regulated custodians after high-profile cases like the recent Manhattan kidnapping, where physical coercion was used to access private keys.' Shi said HashKey's custody business has noted increased interest in storage from 'family offices, crypto-native high-net-worth individuals and even those with nest eggs that are large enough to be vulnerable to theft.' Cold wallets have long been lauded by crypto advocates as a way to give investors full control over their assets and to keep them maximally secure offline. However, this single key also provides a 'single point of failure,' per Wade Wang, CEO of multiparty computation (MPC) crypto custody service Safeheron. Wang said that there is a 'flight to security' among crypto investors, where holders 'are actively seeking innovative solutions that eliminate that single point of failure to significantly raise the bar for attacking.' Already in 2023, a report from PricewaterhouseCoopers on the state of digital custody noted the challenge of cold wallets being prone to theft or loss. One solution posited in the report was MPC or multisignature wallet options. Can custody services stop wrench attacks? Crypto self-custody, while boasting a new technology, runs into the same problem as treasure hoarders throughout history — they were vulnerable to physical attacks and theft until they could share that risk with a stronger and securer institution like a bank. Robbing a bank is a lot harder than robbing a person. In the same fashion, crypto investors are now seeking to 'raise the cost' of the $5 wrench attack. Wang said that investors wish to 'return to the fundamental principle: making the cost for an attacker rise exponentially. For example, when it costs $3 million to steal $10 million, the incentive for attack is lost.' Third-party custody can achieve this and mitigate the problem of wrench attacks, adding time-locks and layers of approval and shifting the target from an individual to the custodian's employees. 'But it is not an optimal solution,' per Wang. Trust is still put in a single, centralized institution and, as exemplified by the recent breaches at Coinbase and Bybit, even major regulated crypto businesses are vulnerable to employee misconduct and phishing. Wang suggested that distributed custody, such as MPC, 'is a superior solution because it fundamentally solves the problem. The core principle of MPC is to use technology to decentralize the single point of control and risk […] into a 'multiparty' structure.' In such a system, control doesn't belong to any one person, and transferring funds requires complex consensus protocols from multiple parties. Decentralized solutions may better reflect the ethos of the blockchain industry, but 'we cannot neglect the benefits of centralized custodians,' Wang said. 'Reliable security measures bring better assurance of keeping clients' assets safe, a familiar way of doing things for lots of new crypto players.' Centralized or decentralized, crypto investors could still be at risk if the public image of crypto investors is that they are all walking around with cold wallets full of Bitcoin. Shi said, 'The perception of risk matters, too. Attackers often assume holders store funds themselves, so public awareness that more crypto is held in custodial solutions may deter opportunistic assaults.' Wrench attacks a 'temporary problem' solved by adoption Public perception is indeed changing. Retail investors are increasingly making crypto part of their portfolio, according to a 2024 report from Ernst & Young. New regulations in large financial markets like the EU and the US are creating the frameworks necessary for institutional investors to get involved. This regulatory shift has been good for the custody industry as well, as it 'legitimizes professional custody for everyday investors and is leading to more offerings from not only crypto-native firms but traditional banks as well,' said Shi. 'We're seeing crypto adoption accelerate in regions with regulatory clarity, which creates entirely new custody considerations for investors who previously relied solely on self-custody solutions.' Regulations also raise the stakes of wrench attacks, per Wang. Better regulatory frameworks with more jurisdictions 'proactively setting robust regulations' will 'inevitably lead to more severe law enforcement actions, which will significantly increase the cost of such attacks and fundamentally curb such behaviors.' 'We see the physical attacking as a temporary challenge,' Wang concluded. The crypto industry has evolved through many stages, but the rise of wrench attacks on prominent investors and executives shows that it has yet to reach the maturity of traditional financial markets. In the meantime, executives are not only moving their assets to centralized and decentralized custodians but also finding muscle of their own. Personal security firms have also seen an uptick in interest from crypto's elite to protect their homes and persons. Source:
Al Etihad
4 hours ago
- Al Etihad
UAE's Calidus concludes successful participation at IDEF 2025 in Istanbul
27 July 2025 20:02 ISTANBUL (WAM)UAE-based Calidus Holding Group has concluded its successful participation in the 17th edition of the International Defence Industry Fair (IDEF 2025), held at the Istanbul Expo Centre from July 22 to 27, as part of the UAE National Pavilion, supervised by Tawazun Council for Defence Enablement (Tawazun).The Calidus stand witnessed strong engagement from senior officials, military leaders, and official delegations from around the world, who praised the advanced capabilities of the UAE's defence industry and commended Calidus products for their reliability, precision, and competitiveness on regional and global the exhibition, Calidus signed several agreements and memorandums of understanding, including an MoU with Türkiye's Presidency of Defence Industries (SSB) to support supply chain collaboration and industrial localisation programmes, as well as an MoU with CTech to explore joint satellite communications and data link projects for military Director and CEO of Calidus Holding Group, Dr. Khalifa Murad Al Blooshi, stated that the participation significantly boosted the company's international presence and showcased the technological innovations of the UAE's defence sector, particularly in AI-driven and next-generation defence solutions, all designed and manufactured exhibited a range of advanced solutions, including the MATV armoured combat support vehicle integrated with the Al Hedaa missile launcher, six variants of the Al Hedaa system, models of the B-250 light attack and B-250T advanced trainer aircraft, a mock-up of the CLS military vehicle production facility, and cutting-edge electro-optical and infrared company also presented its locally manufactured military chassis, built for high-load and extreme-condition performance. The company emphasised that its IDEF 2025 participation aligns with its broader vision to strengthen the UAE's role as a key player in the global defence landscape through technology localisation, strategic autonomy, and regional and international market expansion.
