Central Bank of Singapore, IMF Launch CBDC Solutions Global Challenge by cryptops.org

Amazon Web Services, Mastercard, Hyperledger and others will be helping the Singapore Monetary Authority "Global CBDC Challenge." 


The Singapore Monetary Authority (MAS) worked in partnership with the IMF, World Bank (WB) and others in order to establish a competition to address 12 unsolved problems provided by digital currencies of central banks (CBDCs).

  • The first challenge: "Can a retail CBDC system be incorporated in addition to a basic value transference without needing consumers to utilize smartphones?"
  • Amazon Web Services, Mastercard, Partior Payment Platform, R3 blockchain software developer and Hyperledger Blockchain project will be the support to the competition.
  • MAS stated Monday that the endeavor has also been sponsored by the Asian Development Bank (Asian Development Bank) and the United Nations Capital Development Fund (UNDF) (OECD).
  • It is believed that 80% of central banks are actively examining examples of usage surrounding CBDCs and many face legislative, privacy and technical problems.
  • During a day during the Singapore FinTech Festival in November, the finalist will get an opportunity to present their ideas.
  • The award will be awarded up to three award winners, each of which is awarded S$50,000 (S$37,193) in prize money and up to 15 finaliters will be given the APIX Digital Currency Sandbox mentorship and access.


Tag :

Singapore's Central Bank, IMF Launch Global Challenge for CBDC Solutions. The Monetary Authority of Singapore (MAS) has teamed up with the International Monetary Fund (IMF), World Bank and others to launch a competition where entrants must tackle 12 unresolved challenges posed by central bank digital currencies (CBDCs) ...
The Monetary Authority of Singapore's “Global CBDC Challenge” will be supported by Amazon Web Services, Mastercard, Hyperledger and ...


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