Singapore Central Bank: Speculators Pose Risks To ‘Fabulous’ 2020 Blockchain Goals
Speaking to CNBC on Monday, Feb. 12, chief fintech officer of the Monetary Authority of Singapore (MAS) Sopnendu Mohanty said it will be
before the central bank’s Blockchain project sees
Discussing the state of its
and cryptocurrency in general, Monetary Authority of Singapore (MAS) chief fintech officer Sopnendu Mohanty described the concept of Blockchain technology as
Mohanty told CNBC:
I think it has another two-year run before we get the transportation layer done, the transmission of data, storage of data… the whole Blockchain has to be across multiple-sector common infrastructure, then the real impact comes.
Singapore has remained bullish on the potential both cryptocurrency and Blockchain hold despite varying opinions given by governments throughout the world along with continued periods of volatility.
Cointelegraph reported Feb. 6 that MAS had confirmed it was
crypto and and
but that it saw
no systemic risks concerns
and there was
no strong case to ban
On the topic of volatility and profiteering, Mohanty nonetheless warned that excessive speculatory activity was
perhaps negatively impacting the whole experimentation of cryptocurrency.
We’re going to continue to experiment on this fabulous (Blockchain) technology and find a use case hopefully in the long run,
In January, MAS managing director Ravi Menon additionally pledged support for the
more meaningful technology associated with digital currencies and blockchain,
saying he hoped any volatile periods or even a
would not erase it altogether.
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