Singapore’s central bank funds blockchain-based project; former Skype COO joins Blockchain.info board; 36 French startups team up to create Fintech association; Citigroup develops 3 blockchains and more top stories for July 3.
The Monetary Authority of Singapore Funds Blockchain Project
The Monetary Authority of Singapore (MAS), the city-state’s central bank and financial regulator, has funded a blockchain-based record-keeping project as part of a five-year $225m investment plan aimed at financial technology, reported CoinDesk.
Speaking at the Global Technology Law Conference in Singapore, MAS’ managing director Ravi Menon, said:
“The potential benefits of such a distributed ledger system include: faster and more efficient processing; lower cost of operation; and greater resilience against system failure.”
Former COO of Skype Joins Blockchain.info Board
Michael Jackson, former COO of Skype, has joined the board of Blockchain.info. Jackson will “focus on being a source of counsel as the company solves many of the same scaling, growth, and regulatory challenged we faced in the past,” he wrote in a blog post.
“I am happy to have been allowed to join, and I look forward to both learning and helping them to be the organization that brings the power of the block chain to millions of people. If