Today, the Monetary Authority of Singapore’s Chief Fintech Officer Sopnendu Mohanty, spoke about the state of wholesale central bank digital currencies (CBDC) in a webinar hosted by enterprise blockchain firm R3. Mohanty said that the technology issues are largely solved and the financial sector has distributed ledger technology (DLT) platforms ready to use a digital currency.
“What we’re missing is the decision of a central bank to issue a digital currency into the network,” said Mohanty. “I think it will take some time, but hopefully as soon as possible.”
There are numerous blockchain platforms either already in production or nearing production ranging from trade finance to stock transactions such as Switzerland’s SIX Digital Exchange (SDX) and the Australian Securities Exchange (ASX).
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