the Nasdaq, Deloitte and Anquan reported success when testing a platform that aims to simplify the Settlement of token-based securities on the Blockchain. In collaboration with the Singapore stock exchange, Supervisory authorities, financial service providers want to prepare for the Southeast Asian state on a block chain-based future.
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16. November 2018 share Facebook Twitter LinkedIn xing mail
As a report shows that the partners, under the auspices of Deloitte have published, Singapore continues to be an open Position in relation to the Distributed Ledger technologies (DLT). In the report, the authors describe how the “Delivery-versus-Payment Platform”, and it should ensure that financial institutions token can trade based the value of plants, without that they are necessarily stored on the same Blockchain.
Ultimately, the Project Ubin”,” as the technology is, a Mulitledger platform, which should enable the inter-connectivity of different block chains. The platform is based on a complex System of Smart Contracts, which, in short, Settlements of investments at the time of delivery automatically. The Smart Contracts ensure that payment default risks are minimized, since the processes are automated.
Sopnendu Mohanty, head of the Singapore stock exchange, supervision, MAS, is satisfied:
“the Blockchain technology and Asset Tokenization power in the world, a new wave of innovations. This project has proven the value of the Blockchain technology and the benefits it can bring to the financial industry in the short to medium term. The concept of Asset-Tokenization, as well as other findings from this project can potentially be on a broad spectrum of the economy, and create a whole new world of possibilities.“
Tokenization of Assets in the future, the Standard?
The Asset-Tokenization is one of the major use cases of DLT. An example of this is the issuance of a promissory note by the Erste Group in Austria. Like BTC-ECHO reported, was the procurement of the promissory note over 20 million euros, entirely on a Blockchain.
Singapore-with regard to the DLT, however, an open Position. Similar to Malta, the state creates the regulatory basis to Blockchain-recruiting company. Thus, we report, for example, on 12. November through the certificate trading for renewable energies, which the state wants to completely settle on a Blockchain.
On the Consensus conference held in Singapore, the technology expressed in-chief of the MAS as follows:
“We will pursue an approach in which our regulations are not on the technology platform itself, but to the purpose-oriented. We don’t want to regulate a particular technology, because the technologies are getting better and better.“
This statement is a certain openness of the regulatory authorities of the city-state signals to the DLT.
As it is with the regulation in this country, learn her at this point.
