Hybris's Event System is based on the Spring Event System, and provide an EventService and wrappers for Events and EventListeners (AbstractEvent and AbstractEventListener). So, under the hood, you deal with Spring's ApplicationEvent and ApplicationListener.
The goal of "event processing" is to provide a pass-through functionality between platform components, in the way, when "interested" components subscribe for an events, and receive notifications when certain event occured (published).
Hybris allow events to be published in a clustered environment, between cluster nodes, by implementing ClusterAwareEvent interface. These events are processed asynchronously. All other events processed synchronously, but it is possible to publish them asynchronously too, by overriding spring definition of PlatformClusterEventSender bean, with injection of thread pool.