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.





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