The head of the technology infrastructure office at the Monetary Authority of Singapore (MAS) Damien Pang said that blockchain and artificial intelligence are fundamental technologies to transform the country’s financial services.
In his speech at an annual blockchain and cryptocurrency forum, Damien also noted that the Monetary Authority of Singapore (MAS) aims to regulate the use of blockchain rather than the technology platform itself.
Singapore has always been a friendly environment for new technologies and encouraged blockchain development. According to South China Morning Post, in the second quarter of 2018, there were 57 blockchain startups in Singapore that raised a total of $574.8 million through initial coin offering activities.
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