The Monetary Authority of Singapore (MAS) has included the blockchain industry leaders on its advisory panel. Blythe Masters from Digital Asset Holding and Tim Grant from R3 are among them.
The International Technology Advisory Panel (ITAP) will consist of 15 members. Apart from Masters and Grant, it includes CEO of SolidX financial blockchain services provider Daniel Gallancy and representatives of other fintech areas: CEO of Symphony cloud technologies provider David Gurle, head of analytical department of Allianz financial corporation Andreas Braun, CEO of Chinese online bank WeBank David Ku, representatives of Saxo Bank and Fidor Kurt vom Scheidt and Matthias Kröner, as well as Chief Science Officer for AIG Muril Buluswar.
The panel will provide consulting to the Singapore regulator. It is planned to discuss how new technologies can enhance financial services in Singapore.
ITAP’s first meeting was held on 2 August. Besides the panel members, it was attended by Chairman of Monetary Authority of Singapore (MAS) Tharman Shanmugaratnam and senior MAS officials. The meeting consisted of four sessions dedicated to such topics as the use of blockchain, integrated means of transfer and processing of information, as well as mobile devices on the financial services market.
Panel discussions were held openly, with over 500 fintech experts, researchers and students attending.
“This in-depth discussion with global leaders in innovation marks another step in the ongoing journey by the MAS and the financial industry in Singapore to create a smart financial centre – one that harnesses technology to increase efficiency, manage risk, create new opportunities, and improve the welfare of Singaporeans,” MAS Managing Director Ravi Menon says.
The next meeting of the panel is planned for 2017.
Earlier, the currency management of the Central Bank of Singapore reported about the financing of a blockchain project to establish an accounting system based on the distributed ledger. It is planned to invest $225 mln in this project, that will last for about 5 years.
MAS will also be one of the organisers of the Singapore FinTech Festival due to be held on 14-18 November 2016.
Elena Platonova
