The official stock exchange in Singapore, the Singapore Exchange (SGX) has recently partnered with the country’s Monetary Authority of Singapore (MAS) in order to develop a settlement system for tokenized assets that can work in different blockchain applications.
The news spiraled in the latest crypto news and confirmed that the newly completed delivery versus payment (DvP) system uses smart contracts in order to simplify the post-trade process as well as shorten the settlement cycle.
Aside from this, the system will make it easier for financial institutions to carry out the simultaneous exchange and final settlement of tokenized digital currencies and securities – as required under the DvP system.
According to the official press release:
“The prototypes for the platform had demonstrated that financial institutions and investors are able to carry out the simultaneous exchange and final settlement of tokenised digital currencies and securities assets on different blockchain platforms.”
The new system will act as an extension of the Project Ubin which began as a collaborative project by MAS and Singapore’s financial service industry in order to explore the possibilities of blockchain technology for clearing and settlement of payments and securities.
As the head of technology at SGX Tinku Gupta said:
“Based on the unique methodology SGX developed to enable real-world interoperability of platforms, as well as the simultaneous exchange of digital tokens and securities, we have applied for our first-ever technology patent.”
SGX initially announced thep lan to work with MAS and others in order to utilize blockchain tech with the settlement system in August this year, saying that the group will examine Project Ubin and its existing protocols to determine how to leverage them for a DvP platform.
Telecom Giant AT&T Interested In A Blockchain-Based Social Media ‘Mapping’ System
“The social media history map platforms described herein may take advantage of the immutable and permanent nature of blockchain records to store, and provide access to, data representing online transactions that occur on multiple social media applications.”According to the filing, content creators would keep the ownership of their data on the "mapping" platform:
“However, instead of passing ownership of blocks or data between users, a social media account owner maintains primary ownership of his or her online transaction data. What passes from the social media account owner to other users of the social media history map service, such as followers of the social media account owner, is a notion of elevated visibility rights.”This is just one more patent application in the series that were submitted by companies such as Xerox, American Express, IBM and others - and a new milestone for AT&T overlooking its expansion in the field of blockchain.
Binance Labs Introduces Us To The ‘First Batch’ Of (Final) Blockchain Projects
TRON’s DApp Usage Jumps 48% To +1 Million Transactions Last Week
“This week, the 24-hour transaction number for Dapps reached 1.04M, a 48% increase compared with last week; the 24-hour trading volume hit 640M TRX, an 151% increase compared with last week. We have seen significant increases in both indexes […]”One of the most interesting projects built on Tron is Seedit which is a decentralized platform that lets users contribute funds to the content creators that they most appreciate. Project Atlas is also a well-known project which incentivizes people to seed content on the BitTorrent protocol, which was acquired by Tron back in July this year.
LinkedIn’s Largest Growing Job Sector Is Blockchain Development
“It’s no surprise that we’re seeing an explosion of machine learning roles and continuing growth of data science roles. In fact, we started to see glimmers of this in last year’s report; however, both fields are starting to see more specialized roles emerge. It also may not shock you that Blockchain Developer is topping the list following this year’s surge in interest around blockchain and cryptocurrency.”The great news for all of the people interested in a career in this sector is that there are plenty of universities now that adopt blockchain-related courses which help to boost the blockchain expertise in the following years.
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