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MAS Menon says blockchain 'not solution for every problem' but potential should be unlocked for 'deep economic or social impact'

Stanislaus Jude Chan
Stanislaus Jude Chan • 3 min read
MAS Menon says blockchain 'not solution for every problem' but potential should be unlocked for 'deep economic or social impact'
SINGAPORE (Mar 7): Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), says the central bank is committed to partnering global financial institutions and companies to realise the potential of blockchain technology in Singapore.
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SINGAPORE (Mar 7): Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), says the central bank is committed to partnering global financial institutions and companies to realise the potential of blockchain technology in Singapore.

“My plea to you is pick a viable use-case [for blockchain technology] with deep economic or social impact and work towards bringing it to life,” says Menon on Thursday at CordaDay Singapore 2019, a blockchain-centred conference.

The event was attended by representatives from over a hundred financial institutions and companies globally. It was organised by R3, a blockchain technology company which MAS supported under the Financial Sector Technology and Innovation (FSTI) scheme.

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