JUL 2 DIGEST: Former Skype Exec Joins Blockchain.info Board; Singapore's Central Bank Backs Blockchain Project

Singapore's central bank funds blockchain-based project; former Skype COO joins Blockchain.info board; 36 French startups team up to create Fintech association; Citigroup develops 3 blockchains and more top stories for July 3.

The Monetary Authority of Singapore Funds Blockchain Project

The Monetary Authority of Singapore (MAS), the city-state's central bank and financial regulator, has funded a blockchain-based record-keeping project as part of a five-year $225m investment plan aimed at financial technology, reported CoinDesk.

Speaking at the Global Technology Law Conference in Singapore, MAS' managing director Ravi Menon, said:

"The potential benefits of such a distributed ledger system include: faster and more efficient processing; lower cost of operation; and greater resilience against system failure."

Former COO of Skype Joins Blockchain.info Board

Michael Jackson, former COO of Skype, has joined the board