Project Ubin: Singapore aims to finish its own cryptocurrency trial next year

Singapore will conclude its experiment with blockchain technology and its own digital currency next year before deciding whether to commercialize the trial, the country’s regulator has told CNBC.

In 2016, the Monetary Authority of Singapore (MAS) announced “Project Ubin,” an exploration of blockchain or distributed ledger technology.

The project is split into five phases. The first, which looked at establishing a proof-of-concept design to conduct inter-bank payments using blockchain technology, was completed earlier this year. The second phase, which finished earlier this month, saw the development of three different models for inter-bank payments using blockchain…

Read Full: Project Ubin: Singapore aims to finish its own cryptocurrency trial next year