Block by block towards blockchain success

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SINGAPORE (Dec 18): The Monetary Authority of Singapore (MAS) and Hong Kong recently announced that by 2019, a cross-border platform will be set up to boost trade finance using distributed ledger, or blockchain technology. The key benefit of this development is it will make trade finance more efficient and minimise various fraud-related risks.

See: Singapore to work with Hong Kong on blockchain-based trade financing

See: MAS to collaborate with MIT in fintech

In the business world, the value is similar – blockchain technology can dramatically boost efficiency and reduce costs in many areas. For example, smart contracts in blockchain networks can enable more efficient, transparent and...(click on link for full story on theedgesingapore.com)