Showing 96 Documents for "DLT"
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- MAS
- Media Releases
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- We look forward to working with other central banks on the use of DLT for cross-border applications.” 7 Ong-Ang Ai Boon, Director, ABS, said, “Project Ubin has brought the banks together in experimenting with DLT in a collaborative, open and transparent manner.
- R3, IBM, and ConsenSys were engaged to provide support on the respective DLT platforms of Corda, Hyperledger Fabric and Quorum.
- The report will aid central banks and financial institutions embarking on the use of DLT, in understanding the platform characteristics and design considerations of commonly used DLT platforms. 5 The report will be published during the Singapore FinTech Festival , which will be held on 13 to 17 November
- MAS
- Monographs/Information Papers
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- Although both the NYICs Cedar ledger and MASs Ubin+ ledger leverage DLT, the solution design does not necessitate all participants to implement a DLT- based ledger.
- The Cedar x Ubin+ experiment examined whether distributed ledger technology (DLT) could be used to improve the efficiency of cross-border wholesale payments and settlements involving multiple currencies.
- The project examined whether wholesale central bank digital currencies (CBDC) developed using distributed ledger technology (DLT) could improve the efficiency and transparency of cross-border payments involving one or more vehicle currencies.
- MAS
- Speeches
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- But after several false starts and failed use cases, the underlying distributed ledger technology or DLT started making significant inroads in the financial industry. Essentially, DLT made financial transactions and processes more efficient, more transparent, less risky, less costly.
- This called for internationally accepted standards for DLT-based payment systems. The FSB and standard-setting bodies worked closely with the newly-formed International Organisation for Distributed Ledger Standards to design a supervisory framework for DLT.
- And old-fashioned risks like not having enough liquidity to settle transactions can potentially lead to gridlocks in DLT systems which could, in turn, cause systemic risks. The trigger for a co-ordinated regulatory response to DLT came in the cross-border payments space.
- MAS
- Media Releases
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- Ledger Technology’ describes the prototypes developed on three Distributed Ledger Technology (DLT) platforms (Corda, Hyperledger Fabric and Quorum) and shares the findings and observations from the project. 3 The source-codes and technical documentation of the three successful DLT based prototypes
- We aim to link up such DLT-based systems in the future for improved cross-border connectivity.
- R3, IBM, and ConsenSys were engaged to provide support on the respective DLT platforms of Corda, Hyperledger Fabric and Quorum.
- MAS
- Media Releases
Last revised date:
- and non-DLT financial networks in the future.
- The Cedar x Ubin+ experiment examined whether distributed ledger technology (DLT) could be used to improve the efficiency of cross-border wholesale payments and settlements involving multiple currencies. 2 The technical research experiment built on previous phases of the NYIC’s Project Cedar research
- Specifically, Cedar x Ubin+ explored the ability of DLT to establish connectivity across heterogeneous simulated currency ledgers, reduce settlement risk, and decrease settlement time.
- MAS
- Media Releases
Last revised date:
- HSBC believes DLT (Distributed ledger technology) consensus plays a significant role in retail CBDC systems. Consensus algorithms have direct impacts on many properties of a retail CBDC system, including performance and privacy.
- Using Secretariums Secure-enclave Distributed Ledger Technology (SDLT) leveraging Intel SGX Chip for the secure enclaves, the solution aims to provide a high-performance DLT that is suited for highly secretive financial transactions, ultra large scale CBDCs.
- Regulated Liability network (RLN) is a Distributed Ledger Technology network that encompasses all regulated liabilities. What the RLN seeks to deliver is a true two-tier payments network.
- MAS
- Media Releases
Last revised date:
- HSBC believes DLT (Distributed ledger technology) consensus plays a significant role in retail CBDC systems. Consensus algorithms have direct impacts on many properties of a retail CBDC system, including performance and privacy.
- Using Secretariums Secure-enclave Distributed Ledger Technology (SDLT) leveraging Intel SGX Chip for the secure enclaves, the solution aims to provide a high-performance DLT that is suited for highly secretive financial transactions, ultra large scale CBDCs.
- Regulated Liability network (RLN) is a Distributed Ledger Technology network that encompasses all regulated liabilities. What the RLN seeks to deliver is a true two-tier payments network.
- MAS
- Media Releases
Last revised date:
- Mitigating cybersecurity risks related to the increasing use of distributed ledger technology (DLT). The panel highlighted that DLT related security solutions are still nascent, and not well understood by many solution implementors.
- The recent cyberattacks on DLT platforms emphasises the need for FIs to continually monitor for new modes of attacks and upgrade their security controls to protect their DLT-based services. Preparing for emerging risks associated with quantum computing.
- There were useful suggestions on carrying out joint cyber exercises, strengthening the security of mobile devices, partnering cloud service providers on cyber risk management, building cyber security into DLT systems at the design stage, and preparing for a post-quantum computing landscape.
- MAS
- Media Releases
Last revised date:
- .” *** Additional Information Project Ubin started in November 2016 as an industry collaboration to explore the use of Distributed Ledger Technology (DLT) for clearing and settlement of payments and securities.
- Phase 1 achieved the objectives of producing a digital representation of the Singapore dollar for interbank settlement, testing methods of connecting bank systems to a DLT, and making the MAS Electronic Payment System (MEPS+) interoperate with the DLT for automated collateral management.
- This is with the aim of understanding DLT’s potential in making financial transactions and processes more transparent, resilient and at lower cost. The first two phases of Project Ubin focused on domestic inter-bank payment and settlement.
- MAS
- Media Releases
Last revised date:
- . **** Additional Information Project Ubin started in November 2016 as an industry collaboration to explore the use of Distributed Ledger Technology (DLT) for clearing and settlement of payments and securities.
- Phase 1 achieved the objectives of producing a digital representation of the Singapore dollar for interbank settlement, testing methods of connecting bank systems to a DLT, and making the MAS Electronic Payment System (MEPS+) interoperate with the DLT for automated collateral management.
- This is with the aim of understanding DLT’s potential in making financial transactions and processes more transparent, resilient and at lower cost. The first two phases of Project Ubin focused on domestic inter-bank payment and settlement.