Accenture hired by Singapore’s Central bank for DLT prototypes development

Accenture, the professional services firm, has been appointed by the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS), in order to develop and manage distributed ledger prototype systems for processing interbank payments.

The Monetary Authority of Singapore unveiled three new payments prototypes that were developed using three DLT platforms: Quorum, R3 Corda and Hyperledger Fabric. 

Chief FinTech Officer, Sopnendu Mohanty MAS explained “A key outcome of the consortium’s effort is the ability to perform netting while protecting the privacy of transactions. This helps to open up opportunity for a wider adoption of DLT-based settlement systems. We look forward to working with other central banks on the use of DLT for cross-border applications.”