The Digital Transformation Agency (DTA) has publicly released a design system outlining a proposal to implement blockchain technology in developing online services and government websites.

 

Blockchain could prove the most important technological innovation in a generation, surpassing the social and economic impact of the internet, according to Jason Potts, professor of economics, finance and marketing at Melbourne’s RMIT University.
 

Hong Kong-based payments service LianLian International is set to join Ripple’s popular blockchain network xCurrent, allowing the company to process real-time, cross-border payments to China.

AIA Hong Kong, a local subsidiary of pan-Asian life insurer AIA Group Limited, has announced it has developed and deployed a blockchain-enabled bancassurance network.
 

Singapore and Hong Kong’s chief financial regulators have announced they will jointly develop a “world first” cross-border trade platform powered by blockchain.
 

Thailand’s Krungsri Bank (officially Bank of Ayudhya PCL) has announced it has successfully developed a blockchain-based clearance system to streamline the bank’s contract management process.
 

Credit card giant Mastercard has opened its blockchain API to partner banks and merchants following successful testing and validation of the program.

International technology giant IBM has led a global effort to develop a high-speed, cross-border blockchain network expected to process nearly two-thirds of all cross-border payments in the South Pacific region by early 2018.

The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) have led a global effort to successfully develop a ‘world first’ software prototype for inter-bank payments through blockchain.

OCBC Bank, HSBC and Mitsubishi UFJ Financial Group (MUFG), have teamed with Infocomm Media Development Authority (IMDA), to deliver an industry-first Know Your Customer (KYC) blockchain authorisation system.