,Singapore

Daily Briefing: MAS focuses on blockchain; Bitcoin hits $10,000 mark amidst bubble fears

And will home-sharing regulations finally ease in Singapore?

From DollarsAndSense.sg via Yahoo! Finance:

With Project Ubin, MAS is trying to apply distributed ledger technology to the transfer of money and securities among financial institutions, allowing financial institutions the same benefits that cryptocurrencies enjoy: fast, low cost, anonymous, and tamper-resistant transactions.

The significance of what Project Ubin has achieved is immense.

As we know, MAS plays the dual role of being Singapore’s central bank and its financial regulatory authority. Not only is MAS itself is leading the charge into the exciting but uncertain new world of blockchain technology, it has also brought along a whole consortium of banks and financial institutions for the ride.

Read more here.

From AFP News via Yahoo! Finance:

Bitcoin soared to fresh records Tuesday, putting it on course for $10,000, but the virtual currency's stratospheric rise has fuelled fears of a bubble after a 10-fold increase this year.

The cryptocurrency, launched in 2009 as a bit of encrypted software written by someone using the Japanese-sounding name Satoshi Nakamoto, has had a roller-coaster ride that has taken it from just a few US cents to its current sky-high valuation.

Traded on a specialist platform, with no legal exchange rate and no central bank backing it, Bitcoin is monitored and regulated by its community of users, and is used to buy everything from pizza to a pint in a London pub.

Read more here.

From iCompareLoan via Yahoo! Finance:

Since June 2017, homeowners in Singapore are allowed to lease their homes for a minimum period of three months, from six months previously. While this has been lauded as a step forward for homesharing platforms like Airbnb and Homeaway, it is still far from ideal as most tourists typically need an accommodation for less than one month.

Allowing short-term rentals could help solve some of Singaporean’s retirement funding issue. Why should hotels monopolise the tourism sector? Instead why not allow retired HDB homeowners to rent out one room for bed and breakfast?

Read more here.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The sector scored 72.7/100 points in customer satisfaction in the Customer Satisfaction Index of Singapore.
The new system, set for implementation in 2022, will provide migrant workers with quality, affordable and accessible healthcare catered to their needs.
Four medical suppliers saw an average 48% increase in stocks as markets reacted to the new variant.
Their pre-departure tests in South Africa on 26 November were negative.
The new skills maps serve as a resource for training providers and financial institutions to design family office-related training.
Its high costs make the country a top choice for companies with higher-valued-added manufacturing.
HongKongLand had the most growth for the day.
It surpassed the Bloomberg consensus estimate of 14.5%.
The agreement aims to grow tourism and economic activities as borders reopen. 
It will also enter a loan agreement worth $210.6m.
The acquisition will be fully funded by cash through internal resources.
These countries are Cambodia, the Maldives, Sri Lanka, Thailand, and Turkey.
The decrease was driven by profit declines in their beer and non-alcoholic businesses.
Sources say the state-owned Chinese firm is in talks with advisers about the potential divestment.