Central Banking

True potential of blockchain lies in cross-border transactions – Menon

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Ravi Menon, managing director of the Monetary Authority of Singapore, has said he believes the true potential of blockchain technology lies in the benefits it can bring to cross-border transactions.

“When multiple entities across different jurisdictions are involved, there is no natural trusted central party,” Menon said, noting blockchain could be the “killer app” for this sector.

According to Menon, who appeared at the Global Blockchain Business Conference on October 9, blockchain would make

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