As the city-state strives to become Asia’s main financial technology hub.
IBM IBM 1.10% will be working with the main economic planning agency, the Singapore Economic Development Board (EDB), and the Monetary Authority of Singapore (MAS) to accelerate blockchain adoption for finance and trade.
One project, together with PSA International—one of the world’s largest container transshipment ports owned by state investor Temasek Holdings—aims to connect fintech with global trade and logistics
The blockchain technology works by creating permanent, public “ledgers” of all transactions that could potentially replace complicated systems such as clearing and settlement with one simple database.
First appeared at Fortune