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[Deputy Prime Minister of Singapore: blockchain technology helps improve cross-border wholesale transactions] on June 25, Vice Prime Minister and Minister of financial coverage coordination of Singapore, Wang Ruijie, mentioned that the cryptocurrency market has suffered market shocks not too long ago, however the blockchain know-how associated to cryptocurrency nonetheless has nice growth potential, which helps to enhance the effectivity and comfort of cross-border transactions and cut back transaction prices. Cryptocurrency belongings have not too long ago develop into the main target attributable to many destructive information. Nevertheless, this doesn’t replicate the utmost worth of blockchain and digital belongings. Taking cryptocurrencies for instance, their costs could also be very unstable and affected by hypothesis, so they don’t seem to be appropriate for retail funding. Nevertheless, the blockchain know-how of cryptocurrency might enhance cross-border wholesale transactions. (Lianhe Zaobao)
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