blockchain

MAS, JP Morgan, Temasek jointly develop prototype for multi-currency payments

SINGAPORE (Nov 11): The Monetary Authority of Singapore (MAS), global investment bank JP Morgan and local sovereign fund Temasek have jointly developed a blockchain-based prototype that enables payments to be carried out in multiple currencies on the same network.

MAS says that the payments network has the potential to improve cost efficiencies for businesses, and is currently undergoing industry testing to determine its ability to integrate with commercial blockchain applications.

Singapore sees world's first digital aviation carbon exchange

(Oct 31) Singapore-based AirCarbon launched the world’s first blockchain-based carbon trading exchange, which will allow airlines and other corporate buyers to buy and sell tokens backed by carbon offset credits approved by the International Civil Aviation Organization.

The company is applying to the Monetary Authority of Singapore for a recognized market operator license and targets for the exchange to be fully operational in 2020, it said in a statement Wednesday.

DBS expands fintech's purpose beyond digital banking with track-trace, sustainable products, risk assessment

(Nov 11): Mikkel Larsen, chief sustainability officer at DBS Group Holdings, sees fintech’s purpose as more than making banking accessible and convenient to millions with a mobile phone. Increasingly, fintech - which has made banking easy through smartphones and been a force for good by fostering financial inclusion in emerging Asia - can through Sustainable Digital Finance (SDF) also provide solutions to the most pressing global problem of our times like sustainability and climate change.

Hashtacs aims to simplify processes in financial sevices sector with blockchain

SINGAPORE (July 19): Jay Ng had a near-death experience in the UK a couple of years ago, when London was experiencing a fintech boom.

While he was lying in a hospital bed, three things came to mind: health, relationships and social impact.

At his previous job at URA, Ng was already managing a portfolio with assets worth about $1 billion, but he did not think he was making a significant social impact.

Later, a chance meeting with an old classmate caused Ng to think of marrying his knowledge of asset and fund management with blockchain technology.

Vacheron Constantin adopts blockchain certification

Who says heritage Swiss watch brands are slow to adapt to change? At 264 years old, Vacheron Constantin may be the world’s oldest running watch Manufacture, but it also stands as one of the most forward-thinking, not just in terms of horological innovations, but also in the way it looks to incorporate new technologies in its retail experience.

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Briefs

SINGAPORE (May 6): “What’s wrong with a female emperor, I wonder? Those practices need to change in the modern era.” Yukiko Minegishi, who works with a uniform maker in Tokyo.

WikiLeaks founder Assange sentenced to jail

WikiLeaks founder Julian Assange has been sentenced to nearly a year in jail for skipping bail as he prepares to fight extradition to the US.

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Start-ups and big companies using blockchain to help fight conflict minerals

SINGAPORE (May 6): Tantalum, tin, tungsten and gold, often grouped together in mining industry jargon as 3TG, are vitally important to the industrial economy, used in high-tech products from smartphones to jets. But these conflict minerals, as they are known, frequently follow a sketchy path from mine to factory, coming from mines whose profits flow to violent militias, criminals and even terrorists. As human rights groups step up pressure on big companies to better police the provenance of raw materials in the US$600 billion ($816.9 billion) industry, Nathan Williams says he can help.

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Forgers are forcing a US$9 tril business into the digital age

(May 6): The US$9 trillion ($12.3 trillion) business of financing global trade needs to go digital, according to southeast Asia’s second-biggest lender.

Forgers have become so adept at faking documents used by banks that going paperless has become a necessity for the industry, said Ng Chuey Peng, managing director and head of global commodities finance at Singapore’s Oversea-Chinese Banking Corp, the region’s second-biggest bank by assets. Digitalisation will also make the financing process more efficient, she said.

Singapore's biggest online mall Qoo10 fights Alibaba with blockchain

(Apr 3): In the last decade, Ku Young Bae—a serial entrepreneur and South Korean transplant—has built Singapore’s biggest e-commerce company and fended off giant rivals like Alibaba, Amazon and Tencent.

MAS Menon says blockchain 'not solution for every problem' but potential should be unlocked for 'deep economic or social impact'

SINGAPORE (Mar 7): Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), says the central bank is committed to partnering global financial institutions and companies to realise the potential of blockchain technology in Singapore.

“My plea to you is pick a viable use-case [for blockchain technology] with deep economic or social impact and work towards bringing it to life,” says Menon on Thursday at CordaDay Singapore 2019, a blockchain-centred conference.

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