One of the very important applications of the blockchain is the field of instant international payments. Using a distributed registry, you can quickly and securely send money between any two points on the planet.
The next such project will be run jointly by the authorities of Singapore and Canada. Central Bank North American countries agreed with the monetary authority of Singapore to test the system cross-border payments, using their own cryptocurrency tokens.
The author of the project is the Singapore side. The Ubin project uses the blockchain in the first place for the transfer of money between different legal entities. Representatives of the MAS argue that the project twice successfully tested. At this stage of project development tokens can not be considered a full-fledged cryptocurrency, but they can become so in the future.
Follow the development of the project and applaud the Singapore authorities, who fully appreciated the potential of using blockchain technology and the development of digital money.