THE SINGAPORE GOVERNMENT PLANS TO BOOST BLOCKCHAIN DEVELOPMENT TO ENHANCE FINANCIAL INCLUSION FOR SOUTH-EAST ASIAN COUNTRIES.

THE SINGAPORE GOVERNMENT PLANS TO BOOST BLOCKCHAIN DEVELOPMENT TO ENHANCE FINANCIAL INCLUSION FOR SOUTH-EAST ASIAN COUNTRIES.

Singapore’s government plans to promote inventions around the blockchain in order to increase access to finance in the country. The finance minister, Heng Swee Keat highlighted this in an opening remark during a meeting with finance ministers from South-East Asian countries on Friday 6th April 2018.
He stated-
“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 undeserved and underbanked segments in ASEAN,”                                                              

  There were no specific details on any blockchain innovations but there’s a very optimistic view because this comes at a time when South-East countries are seeking more ways to adopt the technology for improvement in major sectors of the economy.

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