Bahrain plans pilot Blockchain project with Monetary Authority of Singapore

Kingdom of Bahrain working with Singpaore on blockchain pilot

 The Monetary Authority of Bahrain  together with Singapore's stock exchange and eight local and foreign banks are in discussions to create a project to use blockchain technology for interbank payments.

Khalid Al Rumaihi, CEO of inward investment agency Bahrain Economic Development Board stated,” the country wants to become a pioneer in the burgeoning ‘fintech’ space, and national adoption of blockchain technology is a key enabler of this. We are in talks with a group of people from the central bank of Singapore, which began its own blockchain project for bank transactions 18 months ago and is making huge progress,”