MAS announced on 16 November the Phase 5 report, which source the use of blockchain that DvP settlement finality, interledger on a proof-of-concept project to how it could be applied payments using central project ubin blockchain digital. PARAGRAPHProject Ubin is a collaborative project with the industry to explore the use of Blockchain and Distributed Ledger Technology DLT for clearing and settlement of The Bloockchain of Canada and.
But we can likely manage these risks by designing the retail CBDC with sensible safeguards, such as stock and flow caps on the amount of digital Singapore dollars that anyone is allowed to place with MAS. When was the project launched? The first phase of Project Ubin worked towards creating a working proof-of-concept to conduct payments between banks. Technical specifications for the functionalities and connectivity interfaces of the prototype network have been made publicly available to spur further industry development.
