Singapore-sponsored finance blockchain ready to run international payments, say financial heavies

Singapore’s experimental digital-ledger-powered payments service has proven itself ready to handle actual transactions in multiple currencies, according to the organisations involved in its final tests. The effort is called Project Ubin and sprang from the Monetary Authority of Singapore (MAS), the city-state’s central bank …

[steelpillow]

Scalability and client privacy

Scalability has always been blockchain's Achilles heel. Millions of users dragging all those ever-growing chains of immortal blocks from device to device as they go about their daily lives. "allowing employment agencies to pay gig workers". Really?

Then again, "making it easier for private and public health insurers to understand how their respective coverage overlaps for a single patient". So that's client privacy covered, then.

[Pascal Monett]

"adapt to post-plague conditions"

Yeah, about that. We're not post-plague yet, and it will be a while before we get there. Until we have a functional vaccine, we won't start getting there.

Now, from what I've heard, we're not that the vaccine will be efficient long-term. As long as we can do with one shot a year, just like the flu, then we're good. I'm guessing that Covid-19 will be integrated into the yearly flu vaccine that already does the rounds.

But until we get even there, there is no post-plague. We're in the plague.

[MarkET]

Mathematical dependence

Whilst eager to see improvement in trading of any description, I wouldn't be happy basing an economy on the strength of unbreakable maths. Processing and understanding improves exponentially, what we have now simply didn't exist even ten years ago. Just working on my USB Quantum 42 device...

[julian.smith]

Trust the Singapore government

NO WAY