JP Morgan helps Canada and Singapore trial bank transfers on the ‘blockchain’


Central banks in Canada and Singapore claim to have successfully completed a cross-border payment using distributed ledger technology. The Monetary Authority of Singapore (MAS) announced earlier today that it has successfully settled an international payment with The Bank of Canada, in what it refers to as “Project Jasper-Ubin.” The project’s technology was developed with assistance from management consulting firm Accenture and American bank JP Morgan. The announcement didn’t disclose the total value of the transaction. Both banks have been experimenting with their own proprietary digital coins and distributed ledgers which they linked up using what it calls “hashed time-locked contracts,”…

This story continues at The Next Web

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