HKUST Business School Magazine

Biz@HKUST Biz@HKUST 22 23 // Cover // Thought Leader Awareness is Growing The good news is that there is now a growing awareness of security and privacy concerns. Jørgensen notes that people are becoming more mindful and quicker to react to instances of abuse. A recent Pew Research Center survey conducted in April 2021 shows that 56 per cent of Americans think that major technology companies should be regulated more than they are now, and 68 per cent believe that some of the tech firms have too much power. Humankind has taken an enormous digital leap during the COVID-19 pandemic. The world got to see the enormous advantages and possibilities in using digital platforms, but the pandemic also highlighted tech’s limitations and shortcomings, such as a lack of human connection. As the world journeys further into the age of digital transformation, education must play a key role in meeting the demand for new skills and competences, and providing relevant research, Jørgensen says. He thinks that education can help companies to set the right boundaries, and allow them to find a balance between privacy and data use. Responsible digital leadership is about culture and learning Will there be a decrease in central bank digital currency because people are afraid to use it? Will we see a more or less equitable world with the increased adoption of crypto currencies? Since the “right to privacy” and the “right to be forgotten” does not apply to the traceable crumbs left behind by digital payment, what resources do customers have to protect themselves from the state and disproportionate power of corporations? Is the future of transparency about transforming all information into “open data” so that there isn’t an imbalance of information? Søren Jørgensen Director of the Responsible Digital Leadership Project Stanford University Dilemmas & Challenges Identified Post-Graduate Students Worldwide Involved 60 70 Blockchain and Cryptocurrency - Food for Thought The Responsible Digital Leadership project hosted an inspiration session in mid of 2021, with a focus on blockchain and cryptocurrency regulation. The project’s researchers presented a number of ethical dilemmas that were imposed by the adoption of the Central Bank Digital Currencies (CBDG). Questions and ethical challenges that were raised included: M O R E M O R E