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Thursday, October 12, 2017

Investorideas.com - Accenture (NYSE: $ACN), MAS and ABS Developing Distributed Ledger Technology Solutions for Settlement of Payments Using Central Bank #DigitalCurrency

Investorideas.com - Accenture (NYSE: $ACN), MAS and ABS Developing Distributed Ledger Technology Solutions for Settlement of Payments Using Central Bank #DigitalCurrency




Aims to improve how central banks and financial institutions deal with their settlement of payments

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NEW YORK - October 12, 2017 (Investorideas.com newswire) Accenture (NYSE:ACN) has been appointed by the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) to manage and develop a prototype using three distributed ledger technology (DLT) platforms to help create a solution for interbank payments.

The project focuses on specific real time gross settlement (RTGS) functionalities such as gridlock resolution and a liquidity-saving mechanism on a decentralized system without compromising privacy. It is Phase 2 of an industry-wide initiative called Project Ubin, led by MAS and ABS, a group of financial institutions, including: Bank of America Merrill Lynch, Citi, Credit Suisse, DBS Bank Ltd, HSBC Limited, J.P. Morgan, Mitsubishi UFJ Financial Group, OCBC Bank, Singapore Exchange, Standard Chartered Bank, and United Overseas Bank.





full article http://www.investorideas.com/news/2017/bitcoin/10121DigitalPayment-NYSEACN.asp

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