Hong Kong is increasing efforts to develop its own central bank digital currency (CBDC) this year, but the ledger's nature, whether centralized or decentralized, has been left up to banks. At least one major bank is considering developing an e-HKD on a permissioned blockchain. Unlike China's e-CNY, the architecture of Hong Kong's CBDC has not been dictated by the central government. The e-HKD will likely be developed without public input, leaving huge security and privacy implications about whether it will be issued on a permissioned or permissionless chain. Hong Kong is currently a cash-heavy society where taxis typically require cash payment. (Coindesk)