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CENTRAL BANK DIGITAL CURRENCY CBDC coming our way...all bosses please get ready to Huat Big Big ....1, 2, 3
- Thread starter k1976
- Start date
https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-tokenization
McKinsey Guide to Huat Big Big
McKinsey Guide to Huat Big Big
The Monetary Authority of Singapore (MAS) plans to issue a “live” central bank digital currency (CBDC) for wholesale settlement, the central bank announced on Thursday.
MAS said that the plan is part of a broader set of initiatives aimed at expanding trials of asset tokenization and setting up the infrastructure for a digital Singapore dollar.
MAS said that the plan is part of a broader set of initiatives aimed at expanding trials of asset tokenization and setting up the infrastructure for a digital Singapore dollar.
To complement the digital money trials by the financial industry involving retail and corporate users, MAS will commence the development of CBDC for wholesale interbank settlement next year. MAS will pilot the “live” issuance of wholesale CBDCs for the first time, after previously simulating issuance within test environments,” the statement added.
MAS’ first wholesale CBDC pilot will settle retail payments between commercial banks, while future tests could look at cross-border settlements.
MAS’ first wholesale CBDC pilot will settle retail payments between commercial banks, while future tests could look at cross-border settlements.
- activity.
- Supplier financing: Amazon and HSBC are exploring the use of PBM in the tokenisation of payables from Amazon to merchants. This will help unlock liquidity for merchants, thereby improving merchants’ access to financing and working capital.
- Institutional payment controls: J.P. Morgan is exploring the use of payment controls to enable a bank’s institutional clients to hold deposit tokens and transfer them to clients outside of the issuing bank’s direct customer base as long as the banks are part of an agreed trust ecosystem. This ensures adherence to controls set by the issuing bank and the recipient’s bank, enabling peer-to-peer transfer of deposit tokens which are traditionally non-tradeable liabilities.
5 Mr Ravi Menon, Managing Director of MAS, said, “The “live” issuance of central bank digital money for use as a common settlement asset in payments is a significant milestone in MAS’ digital money journey that began in 2016. The issuance of wholesale CBDC reinforces the role that central bank money plays in facilitating safe and efficient payments.”
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- [1] Wholesale CBDCs are issued only to financial institutions for the settlement of inter-bank transactions and represent a direct liability of the central bank. Tokenised bank liabilities are tokens on a ledger that represent a commercial bank's liability; and stablecoins are digital payment tokens designed to maintain a constant value against one or more specified fiat currencies.
- [2] Learn more about Project Orchid at https://www.mas.gov.sg/schemes-and-initiatives/project-orchid
- [3] Refer to Annex A for a list of Project Orchid industry group members.
- [4] Refer to Annex B for a list of industry trials conducted under Project Orchid.
- [5] As part of Project Ubin, MAS issued a simulated wholesale CBDC which was used solely for payments within the banking system. It was not available to the general public. https://www.mas.gov.sg/news/parliamentary-replies/2021/reply-to-parliamentary-question-on-the-implementation-progress-of-project-ubin
Who owned MAS?
CBDC is the most evil thing these fucking motherfuckers can come up with.......
one press of a button and you are dead meat financially, they dont even have to print....we are all fucked
one press of a button and you are dead meat financially, they dont even have to print....we are all fucked
cheebyedickcum?
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Fuck MAS whole PAP government compromised by fucking globalists WEF scum aka Pineapple aka Tharman
Serious question. Who owned MAS?
Example, The US Federal Reserves was owned and controlled by the private banks owned and controlled by the Jews.
Example, The US Federal Reserves was owned and controlled by the private banks owned and controlled by the Jews.
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