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20251217 - Prof Min DAI-01

Next generation of stablecoins: safer, smarter and more transparent

Cryptocurrencies, like Bitcoin, are often too volatile for everyday use. Stablecoins, digital coins linked to steady assets like the US dollar, make using crypto for daily payments more practical. Prof. Min DAI, Chair Professor in Applied Statistics and Financial Mathematics at the Department of Applied Mathematics, and Director of The Research Centre for Blockchain Technology at The Hong Kong Polytechnic University, presents a robust stablecoin design using option pricing theory and smart contracts on Ethereum. The dual-class structure delivers fixed-income and stablecoin options, effectively separates speculation from real usage and demonstrates resilience to extreme market event.  Over the past decade, the cryptocurrency market has experienced explosive growth, evolving from a niche innovation into a global financial phenomenon. However, the prices of cryptocurrencies remain highly volatile, limiting their effectiveness as reliable means of payment or stores of value. In response, stablecoins have rapidly emerged as a crucial solution, offering price stability and fostering broader adoption within the digital economy.    By using the option pricing theory and the Ethereum (ETH) platform that allows the running of smart contracts, Prof. DAI and his research team have spearheaded a pioneering study on the design of fixed-income-like stablecoins. This research integrates rigorous mathematical modelling with economic theory to address the challenge of achieving price stability in decentralised currencies.   Broadly, stablecoins can be categorised into two main types. The first type, exemplified by USDT and USDC, is fiat-collateralised. The second major category is crypto-collateralised stablecoins, with DAI being the most prominent example.    While these models promise improved capital efficiency and flexibility, their long-term stability is highly dependent on the robustness of their hedging strategies and the prevailing market conditions, introducing new layers of risk that must be carefully managed.   To tackle these challenges, Prof. Dai's research team has proposed a novel stablecoin architecture inspired by option pricing theory and implemented via smart contracts. The core innovation lies in a dual-class structure combined with automated upward and downward reset mechanisms. This structure not only enhances capital efficiency by allowing more flexible use of collateral, but also enables dynamic risk allocation through automated upward and downward reset mechanisms. These automated resets help isolate risk, enhance resilience, and ensure the stablecoin's value remains robust even during extreme market movements. The team’s analysis based on numerical tests confirms that the dual-class structure and reset mechanisms provide strong stability and resilience, outperforming traditional stablecoins like DAI, especially during extreme market events.   The dual-class structure presents a compelling and forward-thinking framework for achieving price stability in the highly volatile cryptocurrency landscape. By integrating risk tranching, automated upward and downward resets, and smart contract-based governance, this system not only isolates market risk but also significantly improves capital efficiency. The design enables differentiated exposure for investors, allowing conservative participants to enjoy fixed-income-like returns while risk-tolerant users pursue leveraged gains. This innovative architecture addresses key shortcomings of traditional stablecoins, such as their opacity and rigidity, and offers a scalable, transparent and decentralised solution that aligns with the evolving needs of modern financial ecosystems.   Source: Innovation Digest Issue 5  

6 Jan, 2026

Research and Innovation

20251231 - HKAE-02

PolyU scholar elected Fellow of the Hong Kong Academy of Engineering

Prof. Jianguo LIN, Chair Professor of Materials Technologies of the Department of Industrial and Systems Engineering at the Hong Kong Polytechnic University (PolyU), has been elected as a Fellow of the Hong Kong Academy of Engineering (HKAE). This prestigious honour recognises his distinguished expertise and impactful contributions to the advancement of engineering. Prof. LIN is an internationally renowned expert in materials modelling, advanced metal forming technologies, and sustainable manufacturing processes. The HKAE acknowledges his pioneering work in developing innovative theories and transformative technologies for lightweight alloys, which have enabled the production of complex, lightweight components for vehicles. These advancements have significantly reduced energy consumption and carbon emissions in transportation and related industries. Prof. LIN’s research has revolutionised the commercial manufacturing of complex‑shaped lightweight components once considered impossible, exemplifying the integration of fundamental breakthroughs with industrial applications. He has developed more than 20 patented technologies, including HFQ®, Flextrude®, and WiExtrude®, widely adopted in industry. He pioneered the use of state‑variable material descriptions combined with calibrated ordinary differential equations to integrate classical mechanics with physical metallurgy. This breakthrough has enabled the simulation of diverse high‑temperature metal‑forming processes and the precise control of metallurgical states and mechanical properties within components. His work spanned alloys such as aluminium and magnesium (150–550°C), ultra‑high strength steels (480–950°C), and titanium and nickel superalloys (850–1,050°C) for turbine blades. These efforts not only overcame long‑standing barriers to forming complex structural parts but also enabled accurate prediction, tailored microstructure, and low energy consumption during manufacturing. These advances are consolidated in his landmark book Fundamentals of Materials Modelling for Metals Processing Technologies. As a world-leading scholar in materials technologies, Prof. LIN has published over 300 refereed journal papers and influential books, including Fundamentals of Materials Modelling for Metals Processing Technologies. He established and led the UK’s largest university‑based metal forming research group at Imperial College London, which received two Imperial President’s Medals for its partnership engagement and research capabilities. He also founded four industry‑sponsored research centres there, securing over HK$250 million in support. In addition, Prof. LIN is a Fellow of the Royal Academy of Engineering and a Member of the European Academy of Sciences. He has coordinated large projects across nine countries with up to 20 partners and secured over HK$500 million in government‑sponsored research funding, underscoring that these innovations have delivered substantial industrial impact, enabled energy-efficient production processes, and reduced carbon emissions across the global transportation sector. The HKAE aims to foster collaboration, innovation, and excellence in engineering, thereby advancing society and developing Hong Kong and the Nation. It comprises a distinguished group of Fellows from various disciplines, recognised as leaders in their fields, with remarkable achievements in engineering science and its applications. Learn more: Meet PolyU Academicians— Professor Jianguo LIN

5 Jan, 2026

Awards and Achievements

20251230 - PolyU scholars honored as IEEE Fellows 2026-02

Two PolyU scholars honored as IEEE Fellow 2026

Two distinguished scholars from The Hong Kong Polytechnic University (PolyU) have been elected as Fellow of the Institute of Electrical and Electronics Engineers (IEEE) Class of 2026, in recognition of their exceptional contributions to the fields of distributed artificial intelligence and wireless communication. Prof. ZHANG Chengqi, Chair Professor of Artificial Intelligence of the PolyU Department of Data Science and Artificial Intelligence and Director of Shenzhen Research Institute, has been honoured for his outstanding achievements in graph neural networks and time series analysis. His research has significantly advanced data mining and intelligent data processing, with applications spanning finance, healthcare, urban computing and beyond. Prof. ZHANG has published more than 400 research papers with more than 35,000 citations in international journals and conference proceedings, and received numerous accolades, including the NSW Science and Engineering Award and the IEEE ICDM Outstanding Service Award. His election as an IEEE Fellow underscore both his individual academic leadership and the research excellence of PolyU’s artificial intelligence initiatives. Prof. Liang LIU, Associate Professor of the PolyU Department of Electrical and Electronic Engineering, has been recognised for his influential contributions to next generation cellular network, particularly in the areas of 6G integrated sensing and communication and massive IoT connectivity. His pioneering research enables future networks to transmit data while simultaneously sensing environments, supporting applications such as drone detection in the era of low-altitude economy, robotic navigation, and smart city infrastructure. Prof. LIU has received several high-profile honours including the IEEE Signal Processing Best Paper Award and the recognition as a Highly Cited Researcher by Clarivate Analytics. He currently serves as an IEEE Communications Society Distinguished Lecturer. Through this program, he is sponsored to share his research achievements worldwide by delivering a series of invited talks. His research on 6G is funded by Hong Kong RGC Collaborative Research Fund Young Collaborative Research Grant. IEEE Fellow is the highest grade of membership within IEEE, the world’s largest technical professional organisation dedicated to advancing technology for humanity. This prestigious distinction recognizes individuals whose extraordinary accomplishments have significantly advanced engineering, science, and technology worldwide.

2 Jan, 2026

Awards and Achievements

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PolyU presents 28 high-quality material sciences research at Advanced Materials

Celebrate 30th anniversary of The Hong Kong Polytechnic University (PolyU) with a special Advanced Materials issue ! Featuring 28 top-notch papers in materials science, showcasing PolyU's excellence in education, research, and global reach!  Ranked 54th in the QS World University Rankings 2026, PolyU boasts 420+ scholars among the top 2% most-cited scientists worldwide. We demonstrate a strong commitment to innovation and societal impact, supported by extensive research infrastructure and global partnerships. Dive into this special issue of Advanced Materials! 19 reviews, 8 research articles, and 1 perspective explore cutting-edge materials science: advanced manufacturing, electronic materials, energy solutions, and wearable technologies!  Emphasizing PolyU's vision, we bridge theory with technology, fostering collaborations and pushing boundaries in materials science. Thanks to all contributors for making this issue special !  Read the full issue: Special Issue: Materials Research at The Hong Kong Polytechnic University (Advanced Materials: Volume 37, Issue 48)  

30 Dec, 2025

Awards and Achievements

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The Hong Kong Polytechnic University accelerates research and innovation across the Mainland

The Hong Kong Polytechnic University has successfully established 2 research institutes in Shenzhen (Nanshan and Futian), 12 translational research institutes across the Mainland and one translational research centre by the end of 2025. PolyU is committed to fostering innovation to drive the transformation of research outcomes into applications, serving the high-quality economic and social development. More information

30 Dec, 2025

Partnership

20251229 - PolyU scholar elected member of The Hong Kong Academy of Sciences-02

PolyU scholar elected member of The Hong Kong Academy of Sciences

Prof. Raymond Wai-Yeung WONG, Dean of the Faculty of Science, Associate Director of Otto Poon Charitable Foundation Research Institute for Smart Energy, Clarea Au Professor in Energy and Chair Professor of Chemical Technology at The Hong Kong Polytechnic University (PolyU), has been elected a member of The Hong Kong Academy of Sciences (ASHK). This honour recognises his leadership in chemical technology and long‑standing contributions to advancing sustainable energy solutions and promoting scientific innovation for societal benefit. Prof. WONG is an internationally renowned chemist whose research focuses on the design and synthesis of molecular functional materials and metallopolymers (1D and 2D) with photofunctional properties for energy applications. His work underpins major advancements in technologies for light and electricity conversion, supporting more efficient solar energy utilisation and paving the way for next‑generation organic solar cells and organic light-emitting diodes (OLEDs). Among his significant research achievements is the development of flexible, low‑cost OLED light sources that outperform traditional LCDs in energy efficiency. These OLED light sources can be printed onto surfaces using inkjet or screen‑printing technologies and are compatible with curved digital display screens, opening new possibilities for advanced display systems. His leadership also extends to strengthening Hong Kong’s research infrastructure. He spearheaded the establishment of Hong Kong's first Fourier‑transform Electron Paramagnetic Resonance (FT‑EPR) spectrometer facility, enhancing interdisciplinary research capacity and collaboration. Prof. WONG’s research excellence is widely recognised internationally. He has been ranked as the 26th most‑cited scientist globally in inorganic and nuclear chemistry by a Stanford University index, with an extensive publication record of over 900 scientific articles in international journals and an h‑index of 101 (Scopus). His distinguished career has earned him numerous prestigious honours, including the Croucher Senior Research Fellow Award (2009), Chemistry of the Transition Metals Award by the Royal Society of Chemistry (2010), First Class Prize (2010) and Second Class Prize (2022) in Natural Science Award from the Ministry of Education of the People’s Republic of China, FACS Distinguished Young Chemist Award (2011), Ho Leung Ho Lee Foundation Prize for Scientific and Technological Innovation (2012), Second Class Prize in State Natural Science Award of the People’s Republic of China (2013), the inaugural Research Grant Council (RGC) Senior Research Fellow Award (2020), and Foreign Fellow of the European Academy of Sciences.

29 Dec, 2025

Awards and Achievements

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PolyU develops “zero-hallucination” AI literature review system to usher in new era of super research brain

Literature review underpins all academic studies. Whether for governments formulating national strategies or corporations seeking to gain industry insights, this requires reading, screening, sorting and analysing a very considerable number of sources. Prof. LIU Yan, Associate Professor and Group Leader of the Artificial Intelligence and Robotics (AIR) Research Group at the Department of Computing of The Hong Kong Polytechnic University (PolyU), has led her team to develop the AI literature review system “Write For You”, which can conduct in-depth analysis across extensive bodies of literature and generate reports. Since its launch in the first quarter of this year, it has registered over 40,000 active users worldwide. The academic paper on this system was presented at the AI conference held by the Association for the Advancement of Artificial Intelligence in February this year. Prof. Liu Yan explained that the team was inspired by Prof. CAO Jiannong, PolyU Vice President (Education), who suggested in 2022 that AI could be utilised to automate educational research. Mr ZHANG Zhi, a PhD student of the department, then leveraged the latest techniques of intelligent agents to address the problem of generating inaccurate content due to AI “hallucination”, succeeding in achieving “zero-hallucination” literature reviews with reliable logical reasoning and the capability to integrate academic resources across languages. Meanwhile, Dr CHEN Gong, a PhD graduate of the same department, designed and developed a user-friendly system for literature review generation, enabling users across industries to obtain a comprehensive and in-depth report in a matter of minutes by simply describing their topic of interest. Prof. Liu Yan added, “Compared with traditional reading that requires considerable time and human resources, the ‘Write For You’ system can significantly enhance research efficiency while also reducing costs. It has therefore been well received by users around the world. In just a few months since its launch, users have spanned dozens of countries and regions.” Prof. Cao Jiannong noted, “With the trend of AI-empowered education and research, PolyU is committed to leveraging leading generative AI technologies to enhance research efficiency. Our team has successfully addressed the challenge of AI hallucination, substantially improving the system’s reliability and overcoming commonly faced technical hurdles. Looking ahead, the team will build on its literature review foundation, seizing the opportunity to boost new AI-powered quality productive forces. Committed to developing autonomous intelligent systems, the team seeks to construct an ‘AI Super Research Brain’ that covers all disciplines and the entire research process, helping humanity push the boundaries of knowledge while leading the development of a new global paradigm of technological innovation with Hong Kong-developed AI technologies.” Project website: https://www.writeforyou.net/

23 Dec, 2025

Research and Innovation

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PolyU and Foshan Communications Group’s Technology Company sign collaboration framework agreement to drive transport innovation

The Hong Kong Polytechnic University (PolyU) and Foshan Communications Group’s Technology Company  have signed a collaboration framework agreement in Foshan on 22 December, marking the start of a strategic partnership focused on transportation materials, structures and technologies. The two parties will jointly establish a research and technology commercialisation platform to accelerate collaborative innovation and support the transformation of research outcomes into real-world applications. Prof. Jin-Guang TENG, PolyU President and Prof. Christopher CHAO, PolyU Senior Vice President (Research and Innovation), together with distinguished guests, witnessed the signing of the collaboration framework agreement.  PolyU is renowned for its world‑class research achievements and strong talent base, particularly in civil and environmental engineering, as well as composite and steel structures. Prof. XIA Yong, Professor of the PolyU Department of Civil and Environmental Engineering and Director of Joint Research Centre of Marine Infrastructure, has led pioneering research in structural health monitoring, damage detection, and substructure methods for large-scale civil engineering projects, with his advanced technologies successfully applied to landmark infrastructure developments. Since its establishment in 2019, Foshan Communications Group’s Technology Company  has developed six major R&D and commercialisation bases across China, with extensive experience in  translating research outcomes into market-ready solutions. This collaboration aims to open new channels for innovation commercialisation, promote two-way talent exchange, and incubate strategic emerging industries, thereby driving technological progress and industrial upgrading in the transport sector. Following the signing ceremony, representatives from the Foshan municipal government and PolyU held a discussion session to deepen cooperation in technological innovation, industry transformation, and talent development. Both sides expressed their commitment to building a long-term strategic partnership that will contribute to high-quality development in the Guangdong–Hong Kong–Macao Greater Bay Area.  

22 Dec, 2025

Partnership

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PolyU builds advanced human-robot collaboration system, empowering high-end manufacturing tasks

With human-robot collaboration at the core of Industry 5.0, a research team at The Hong Kong Polytechnic University (PolyU) has made significant progress in this field, developing a new generation of “human-machine symbiotic” collaborative manufacturing systems. In addition to perceiving complex environments in real time and accurately interpreting operators’ intentions, the system can achieve skill transfer and self-learning via simple demonstration, while carrying out autonomous process code generation and automatic adjustment for highly accurate task execution. It has been successfully applied to high-end manufacturing tasks such as autonomous drilling on large aircraft and the disassembly of electric vehicle batteries, laying a solid foundation for a new model of human-centric smart manufacturing. The goal of human-robot synergy is to combine the adaptability and responsiveness of humans with the precision and stability of machines. Led by Prof. ZHENG Pai, Endowed Young Scholar in Smart Robotics and Associate Professor of the PolyU Department of Industrial and Systems Engineering, the research team has developed the “Mutual Cognitive Human-Robot Collaboration Manufacturing System” (MC-HRCMS). With a shift away from pre-programmed operations, this system is centred upon holistic scene perception—by collecting and analysing multimodal sensing data including vision, haptics, language and physiological signals, it enables highly accurate and comprehensive environmental analysis, while carrying out autonomous decision-making and flexible task execution. The system features advanced machine learning and 3D scene perception capabilities that deliver efficiency and safety, greatly enhancing fluid human-robot interaction in complex manufacturing scenarios. Through industry collaboration projects, the team has tailored human-robot collaboration systems for multiple leading enterprises and successfully deployed them across various scenarios that involve precision and/or complex work procedures. Prof. Zheng said, “The global manufacturing industry is shifting towards a human-machine symbiotic paradigm that emphasises more flexible automation. Our research aims to develop a paradigm that offers multimodal natural perception, cross-scenario skill transfer and domain foundation-model autonomous execution, so that robots are no longer just tools, but intelligent agents that can evolve with human operators. This provides smart factories with a new path beyond pre-programmed automation.” Semi-structured and unstructured production scenarios, such as personalised manufacturing, often involve large-scale, complex assembly, disassembly and inspection processes that demand high cognition and rapid adaptation. In this regard, the team introduced a “novel vision-language-guided” planning framework that combines Large Language Models (LLMs), Deep Reinforcement Learning (DRL), and Mixed-Reality Head-Mounted Displays (MR-HMD), enhancing the ability to execute personalised and other unpredictable production tasks. A key innovation of the framework is the combination of a vision-language-guided target object segmentation model with language-command-driven task planning, allowing the system to integrate visual information with language-based instructions. This enables robots to comprehend complex task semantics, interpret dynamic scenes and collaborate efficiently with human operators. In particular, the head-mounted device enables real-time data acquisition and provides immediate, intuitive guidance to operators, redefining the human-machine interaction interface. Prof. Zheng said, “The future of smart manufacturing is not about machines getting smarter to replace humans, but about creating systems where humans and robots learn, adapt and succeed together to achieve higher productivity and flexibility. To meet this need, the next-generation robot manipulators should be capable of continual learning and optimisation under human guidance, enabling efficient and natural human-robot interaction.” To further advance human-robot collaboration, Prof. Zheng will also lead his team in exploring self-configurable human-robot networks, skill transfer mechanisms and autonomous multi-agent task execution. By building a deeply human-centric intelligent manufacturing system and expanding it into more key domains, the team strives to guide society towards a technology-empowered, empathetic and human-oriented smart era. With his dedication to researching “human-machine symbiotic” collaborative manufacturing systems, Prof. Zheng was awarded funding from the Excellent Young Scientists Fund by the National Natural Science Foundation of China in 2024. He now leads the RAIDS research team on the above projects. For more details, please visit: https://www.raids.group/ 

18 Dec, 2025

Research and Innovation

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PolyU and RGC jointly hosted the RGC Research Summit, spearheading the Research and Innovation in Hong Kong

PolyU is proud and honoured to join hands with Research Grants Council (RGC) and the University Grants Committee (UGC) to co-host the RGC Research Summit on 11 December at Hong Kong Science Park. Celebrating the RGC 35th Anniversary with the theme “Forging Frontiers: Shaping the Future of Knowledge and Discovery”, this landmark event gathered over 700 leading researchers, academics and industry experts from Hong Kong and around the world, fostering dialogue on impact research and global collaboration.  We were privileged to have Dr Choi Yuk-lin, the Secretary for Education, HKSAR Government, as our Guest of Honour, who highlighted Hong Kong’s readiness to become a strategic hub for innovation, backed by a strong research track record and commitment to nurturing emerging talent. PolyU was honoured to feature an exceptional line-up of distinguished keynote speakers from home to aboard for this full-day programme, sharing insights that underscored Hong Kong’s potential as a global innovation hub driven by interdisciplinary collaboration and fresh research perspectives. The summit also featured the Presidents’ Roundtable session, bringing together leaders from all eight UGC-funded universities to explore Hong Kong’s role in shaping the future of research. PolyU President Prof. Jin-Guang Teng joined as one of the panellists.  Prof. Christopher Chao, Senior Vice President (Research and Innovation) and Prof. Hongxia Yang, Associate Dean (Global Engagement) of the Faculty of Computing and Mathematical Sciences, and Executive Director of the PolyU Academy for Artificial Intelligence, contributed to the summit as the speakers of thematic session. They shared valuable insights on global collaboration, particularly between the Chinese Mainland and beyond, as well as research trends and impact. To encourage forward-thinking dialogues, the summit’s breakout sessions also brought together top academics from seven countries, including China, the US, the UK, Singapore, the UAE, and Switzerland. PolyU remains committed to advancing knowledge, driving innovation, and fostering global partnerships to address pressing challenges and create a better future for society.

18 Dec, 2025

Events

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