Beyond digital dollar, MAS sees FinTech solving the world's most pressing challenges
04 Dec 2020, 10:30 pm
Sopnendu Mohanty, MAS’ chief fintech officer
SINGAPORE (Dec 4): In 2016, the Monetary Authority of Singapore (MAS) — Singapore’s central bank and financial industry regulator — embarked upon a journey to explore the use of blockchain and distributed ledger technology for “clearing and settlement of payment and securities”.
Named Project Ubin after the eponymous island off Singapore’s coast, the project concluded its five-phase experimentation process this year.
Notable among its work is exploring the possibility of creating a “central bank digital currency” (CBDC) which is in essence, a digital Singapore dollar.
However, the iconic likeness of...(click on link for full story on theedgesingapore.com)
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