Singapore, Canadian Central Banks unite on Blockchain cross-border payments
"Ravi Menon, director of the Monetary Authority of Singapore (MAS), called for the need to establish a “more efficient and secure” way to conduct cross-border interbank payments, a process currently reliant on intermediaries that could take days to settle."
"It’s notable that the Bank of Canada is continuing its blockchain endeavor, this time with Singapore’s central bank – the latter which has already achieved early successes in developing its own digital currency token to power a blockchain interbank payments platform."
"Significantly, the MAS will also publicly release the source codes for all three software prototypes from Phase 2, at no cost, following heightened interest from other central banks and academia."
News like this make my belief in cryptocurrencies stronger.
Do you agree that more countries should begin establishing such connections?
