The Monetary Authority of Singapore (MAS) and Bank of Canada (BoC) announced the completion of their first cross border blockchain payment to each other.
Both government organisations have been developing their blockchain projects for the past 2-3 years. And now we're are just starting to see the fruits of that labour.
As part of the distributed ledger technology (DLT) projects being pursued by both banks... MAS sent funds to the BoC without a third party.
MAS' very own Project Ubin platform linked up with BoC’s Project Jasper to make this cross border transfer possible.
Behind the scenes, JPMorgan, accounting giant Accenture, IBM, Blockchain solution specialist ConsenSys, etc. have been assisting with the development of their DLT platforms and networks.
As we see increasing adoption by large corporations, and now even governments, one can only imagine what the future holds for blockchains & cryptocurrencies. Not if, but When?
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