31 May '17, 1pm

Singapore opens up on DLT trials

First unveiled in November, Project Ubin saw the Monetary Authority of Singapore (MAS) team up with a consortium of banks and R3 to see how DLT can be used for the clearing and settlement of payments and securities, specifically the use of a tokenised form the Singapore dollar on a distributed ledger. The work built on a similar Bank of Canada-led and R3-backed effort, called Project Jasper, which used a digital currency to enable interbank payments. In a report on the Singapore effort, Deloitte says that the first six week phase of Ubin was a success, building a "working interbank transfer prototype on a private ethereum network". While the Bank of Canada recently said that it has concluded that DLT is not ready to support an interbank payments system, MAS is pushing ahead with its investigation. The central bank thinks that the technology can improve domestic securities ...

Full article: https://www.finextra.com/newsarticle/30641/singapore-open...

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