MAS launches blueprint outlining technology infrastructure required to facilitate digital money transactions

The Monetary Authority of Singapore (MAS) has published Orchid Blueprint, which sets out the technology infrastructure that would be required to facilitate digital money transactions in the future. 

The blueprint builds on learnings from the Project Orchid industry trials, identifying infrastructure building blocks for the sound use of digital money in Singapore. Project Orchid is a multi-year, multi-phase exploratory project examining the various design and technical aspects pertinent to a retail Central Bank Digital Currency system for Singapore.

The building blocks identified are as include a settlement ledger to record digital money transfers, with supporting features such as native programmability and atomic settlement of digital tokens; tokenisation bridge to connect existing account-based settlement systems with ledgers compatible with tokenised forms of digital money; and programmability protocol to use purpose bound money (PBM) as a common protocol to specify the conditions for the use of digital money.

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