Title: Singapore announced three prototypes of payments on the blockroom Post by: jimblasko on October 06, 2017, 03:50:54 PM The Central Bank of Singapore has revealed new details about its research on the use of detachment in the field of finance. The Central Bank and the Singapore Financial Regulator (MAS), in conjunction with the Singapore Banking Association (ABS) trading group, today introduced a new set of prototypes based on distributed registry technology, which is the second stage of "Project Ubin", launched last year to study the issue of creating a tokenized version of the Singaporean dollar.
Title: Re: Singapore announced three prototypes of payments on the blockroom Post by: Mometaskers on October 06, 2017, 06:34:30 PM The Central Bank of Singapore has revealed new details about its research on the use of detachment in the field of finance. The Central Bank and the Singapore Financial Regulator (MAS), in conjunction with the Singapore Banking Association (ABS) trading group, today introduced a new set of prototypes based on distributed registry technology, which is the second stage of "Project Ubin", launched last year to study the issue of creating a tokenized version of the Singaporean dollar. Well looks like states are taking notice. Though most governments would probably go the same route as Singapore is going, getting into the tech to make a digital version of their fiat. Seems bitcoin is even hastening the transition to cashless. Title: Re: Singapore announced three prototypes of payments on the blockroom Post by: HabBear on October 06, 2017, 07:32:59 PM Seems bitcoin is even hastening the transition to cashless. Yep, which doesn't help Bitcoin. It only means these Countries are increasing their oversight and control over their own currency. None of this improves adoption for Bitcoin until people realize that currency owned by government is part of the problem that Bitcoin solves. Title: Re: Singapore announced three prototypes of payments on the blockroom Post by: Sylenth on October 06, 2017, 07:49:23 PM so the country is realizing the potential of crypto currencies,and is trying to get digital , but the catch is there are doing that for their own currency which still be in controlled of their government and laws will be formulated on it too. Bitcoin is not going to benefit from it,whose whole idea is being decentralized and direct peer to peer transactions.smart move for the country and but nothing beneficial for btc.
Title: Re: Singapore announced three prototypes of payments on the blockroom Post by: dimastegar on October 06, 2017, 07:57:45 PM Good news, I think this will make cryptocurrency users easier and safer in paying. Let them try first, maybe if successful there will be other countries that follow to use the same thing.
Title: Re: Singapore announced three prototypes of payments on the blockroom Post by: bitart on October 06, 2017, 08:14:14 PM Seems bitcoin is even hastening the transition to cashless. Yep, which doesn't help Bitcoin. It only means these Countries are increasing their oversight and control over their own currency. None of this improves adoption for Bitcoin until people realize that currency owned by government is part of the problem that Bitcoin solves. Title: Re: Singapore announced three prototypes of payments on the blockroom Post by: bitcoindusts on October 06, 2017, 09:20:27 PM so the country is realizing the potential of crypto currencies,and is trying to get digital , but the catch is there are doing that for their own currency which still be in controlled of their government and laws will be formulated on it too. Bitcoin is not going to benefit from it,whose whole idea is being decentralized and direct peer to peer transactions.smart move for the country and but nothing beneficial for btc. Definitely, government will never adopt bitcoin, it will expose them of their corruption and how they steal money from the taxes people are paying. Bitcoin blockchain is so transparent that even a single satoshi moved is recorded and government official knows that ;D . They will rather spend billion of dollar researching for the kind of technology that will benefit them and keep their dirty secret out of the eyes of people. Title: Re: Singapore announced three prototypes of payments on the blockroom Post by: salad daging on October 06, 2017, 10:14:05 PM so the country is realizing the potential of crypto currencies,and is trying to get digital , but the catch is there are doing that for their own currency which still be in controlled of their government and laws will be formulated on it too. Bitcoin is not going to benefit from it,whose whole idea is being decentralized and direct peer to peer transactions.smart move for the country and but nothing beneficial for btc. Definitely, government will never adopt bitcoin, it will expose them of their corruption and how they steal money from the taxes people are paying. Bitcoin blockchain is so transparent that even a single satoshi moved is recorded and government official knows that ;D . They will rather spend billion of dollar researching for the kind of technology that will benefit them and keep their dirty secret out of the eyes of people. It is surprising that Singapore a few weeks ago was rumored to be closing down all the crypto currency services in the country following South Korea and China's attitude, but this time they made the opposite, I think this news needs to be confirmed with official links to avoid multiple interpretations. japan has adopted bitcoin successfully so you do not have to worry, if there is a binding rule then kyc rules will apply more strictly to crack down on money laundering from corruptors. Title: Re: Singapore announced three prototypes of payments on the blockroom Post by: Mometaskers on October 07, 2017, 07:32:56 PM Seems bitcoin is even hastening the transition to cashless. Yep, which doesn't help Bitcoin. It only means these Countries are increasing their oversight and control over their own currency. None of this improves adoption for Bitcoin until people realize that currency owned by government is part of the problem that Bitcoin solves. What I'm still hoping is that bitcoin would get a large enough distribution before the governments manage to force their population to use their digital fiat. Coz once they do, we all know what other things will follow. Title: Re: Singapore announced three prototypes of payments on the blockroom Post by: bitart on October 09, 2017, 04:23:49 PM Seems bitcoin is even hastening the transition to cashless. Yep, which doesn't help Bitcoin. It only means these Countries are increasing their oversight and control over their own currency. None of this improves adoption for Bitcoin until people realize that currency owned by government is part of the problem that Bitcoin solves. What I'm still hoping is that bitcoin would get a large enough distribution before the governments manage to force their population to use their digital fiat. Coz once they do, we all know what other things will follow. Title: Re: Singapore announced three prototypes of payments on the blockroom Post by: Mometaskers on October 09, 2017, 07:02:23 PM Seems bitcoin is even hastening the transition to cashless. Yep, which doesn't help Bitcoin. It only means these Countries are increasing their oversight and control over their own currency. None of this improves adoption for Bitcoin until people realize that currency owned by government is part of the problem that Bitcoin solves. What I'm still hoping is that bitcoin would get a large enough distribution before the governments manage to force their population to use their digital fiat. Coz once they do, we all know what other things will follow. That's the problem, people trust the gov't much when it comes to finances. I read somewhere that scams are more likely to be successful when they have stuff like "National" in the name. Guess it's the influence of authority at play, like how many nurses would administer anything if it was given by a man wearing a doctor's gown. Might not be the case if people are educated about economics more but why would the gov't do that? Title: Re: Singapore announced three prototypes of payments on the blockroom Post by: Ilegendph on October 25, 2017, 09:58:42 AM Seems bitcoin is even hastening the transition to cashless. Yep, which doesn't help Bitcoin. It only means these Countries are increasing their oversight and control over their own currency. None of this improves adoption for Bitcoin until people realize that currency owned by government is part of the problem that Bitcoin solves. |