The third and last initiative we are working jointly with Shenzhen relates to talent development. You may recall that last year we launched the Fintech Career Accelerator Scheme and, since then, more than 70 Hong Kong students have been working on fintech projects in 12 banks and the HKMA. Building on the success of this scheme, and with the support of the Shenzhen OFDS, we have secured commitments from several high-tech firms in Shenzhen, including Ping An Technology, WeBank, Tencent and others, to offer summer intern positions for Hong Kong students to learn the latest technologies, not only in financial application but also in areas such as big data analytics or artificial intelligence. This people-to-people approach will deepen collaborative ties between Hong Kong and Mainland China in fintech development to our mutual benefit. 3/4  BIS central bankers' speeches  Enhanced research 15. Finally, I want to talk about enhanced research, which is one of the seven initiatives in the package helping Hong Kong to migrate to the new era of Smart Banking. Today we will publish our second whitepaper on DLT. You may recall that we released the first DLT whitepaper around this time last year, in which we explained how the technology works, outlined proof-of-concept projects and, more importantly, identified potential implementation challenges and issues.
The next step would be for the HKMA to work with the banking industry and the fintech community to turn the findings and advice in the second whitepaper into a set of practical guidelines for the use of DLT in the banking sector in the future. Given the rapidly evolving nature of DLT, this is no easy task to undertake. We welcome comments and input from the stakeholders and stand ready to share the findings of our research and practical experience with our international peers. Conclusion 19. Ladies and gentlemen, now is an exciting time for financial innovation. Technology is a game changer for the future of banking, payment and other financial services. It will differentiate winners from losers. I am very pleased to share with you today the important progress made by Hong Kong in cross-border collaboration and the use of DLT applications. As I said in my speech last month, the transformation of our banking system to a new and higher level of Smart Banking is not just something that is nice to a have, it is a must! To stay relevant and ahead of the game in this new era, I am sure you will agree that the collaborative efforts and research developments that I just mentioned are the essential building blocks to facilitate financial innovation and prepare Hong Kong to advance to the new Smart Banking Era. 20.