HomeCBDCBIS ProjectsBoosting Small Business Growth Through Innovative Solutions: Project Dynamo

Boosting Small Business Growth Through Innovative Solutions: Project Dynamo

Project Dynamo, a groundbreaking prototype, is designed to facilitate the financing of small and medium-sized enterprises (SMEs) by institutional investors through digital trade tokens on a public blockchain. Leveraging non-fungible tokens and smart contracts, it addresses the financial challenges faced by SMEs. SMEs are vital to global economies but often struggle to secure affordable financing, with half lacking access to formal credit. In developing nations, the unmet financing needs of micro, small, and medium-sized enterprises (MSMEs) surpass USD 5.2 trillion annually. The prototype promotes greener and socially responsible supply chains by integrating Environment, Social, and Governance criteria. Collaborating with private sector participants, it explores programmability and digital identity. Additionally, the Hong Kong Centre conducts a comprehensive market study on central bank digital currencies, deposit tokens, and stablecoins. These initiatives foster responsible innovation to benefit SMEs and the real economy. Future research will delve into decentralized identifiers, digital payment method interoperability, and AI for SME credit risk assessment.

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