Blockchain in Singapore to push ASEAN Financial Inclusion

The government of Singapore is aimed to enforce blockchain development in order to improve financial inclusion for Southeast Asian countries
09 April 2018   409

On Friday Heng Swee Keat (Singapore's minister for finance) in his starting report for a meeting with finance ministers from Southeast Asian countries, underlined the government's objects to develop innovations such as blockchain to improve access to finance in the region.

In particular, we will support digital innovations like fintech. For example, the underlying distributed ledger technology presents us with many opportunities for cheap and secure transactions. This can promote financial inclusion for underserved and underbanked segments in ASEAN. 

Heng Swee Keat, the Minister for Finance, Singapore.
 

Though the minister did not reveal the details on any blockchain decisions, his remarks come at the same time when the governments in Southeast Asia have been directing efforts to expand and adopt blockchain technology in the financial sphere. Singapore's Infocomm Media Development Authority (IMDA) has begun a blockchain contest with government funds to boost blockchain innovation in the country.

Also, the neighboring state of Malaysia is stepping to accept blockchain technology to improve banking services in the region. The deputy governor of Malaysia's central bank in his speech in March pointed out that nine banks in the country have already started working with the central bank in enforcing blockchain powered applications for trade finance.

Thailand's Siam Commercial Bank is as well constructing out a Ripple-based blockchain money order platform for cross border payments.

Change.org to Mine for Charity

According to the calculations, if 10k computers will run the minning screensaver for 12 hours a day, the charity fund will receive $10k monthly
18 July 2018   77

Social platform for petitions Change.org announced the launch of a screensaver that mines Monero on users' computers. All tokens will be transferred to the charity fund of Change.org. This is reported by Coindesk.

This initiative was launched in partnership with the marketing agency Tracelocke Brazil.

Representatives of Change.org report that the screensaver will consume resources only when users do not use the computer. According to their calculations, if 10 thousand computers will run the screensaver for 12 hours a day, the charity fund will be transferred $ 10 thousand monthly.

At the moment the program is available only for Windows users and the platform did not report on the release plans for the version for macOS.

Note that at the end of April, a similar action was launched by the Australian unit of the United Nations International Children's Emergency Fund; (UNICEF). The website "Page of Hope" mines Monero cryptocurrency.