12 Oct '17, 9pm

Singapore central bank, bank association, Accenture in blockchain tie-up

NEW YORK (Reuters) - U.S. consulting company Accenture (ACN.N ) said on Thursday it has been appointed by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) to manage and develop a blockchain-based platform for interbank payments. Blockchain, a digital ledger of transactions, leaped to prominence as the technology that underpins the first digital currency, bitcoin. It has since attracted global attention because it can be used to track, record and transfer assets across all industries. The project aims to improve how central banks and financial institutions deal with the settlement of payments, Accenture said in a statement. It focuses on specific real-time gross settlement features and a liquidity-saving mechanism on a decentralized system without compromising privacy. The project is the second phase of an industry-wide initiative ca...

Full article: http://www.reuters.com/article/us-accenture-blockchain-si...

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