We really cannot say that “ah gong” doesn’t look out for us.
When I first read the article from Coindesk, I was shocked. Not shocked that Singapore would actually do it, but shocked by how quickly they got their shit together.
Project Ubin, in a quick nutshell, is basically using blockchain technology between banks and also MAS.
How can you tell this is serious shit? Well, first there’s MAS. Next we’ve got all 3 local banks – DBS, OCBC and UOB. We have other banks that are here too. And finally we have the technical experts.
R3 helped the Bank of Canada with something related. JPM has their Quorum blockchain. Deloitte has experimented successfully with Stellar Lumens.
Why is MAS experimenting with blockchain? What benefits could it bring?
Well, I think I’ve mentioned them before, but here’s a direct screenshot from their paper itself:
1. Disintermediate – does …