Cardano (ADA) Devs Nominated as Finalists for Singapore's MAS CBDC Challenge

Input Output Global (IOG), the software developer behind Cardano (ADA), will be curated by the Singapore watchdog's accelerator

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Amidst a small cohort of leading fintech development teams, IOG joins the accelerator backed by The Monetary Authority of Singapore, the country's central bank.

CBDC Challenge Top 15 announced; Cardano (ADA) devs are on short list

According to the official announcement shared by Singapore's central banking institution, The Monetary Authority of Singapore, an independent jury of experts nominated the finalists of the Global CBDC Challenge.

IOG Singapore Pte Ltd is in the list together with their competitors, leading Ethereum (ETH) studio ConsenSys.

In total, more than 300 projects from 50 countries across the globe were reviewed by the jury. The applicants addressed the most crucial problems of central bank digital currencies adoption, i.e., CBDC instruments, CBDC distribution and CBDC infrastructure.

The solutions submitted included the red-hot spheres of blockchain technology, such as hardware wallet and digital identity and assets tokenization solutions.

All eyes on CBDCs

Mr. Sopnendu Mohanty, chief fintech officer of MAS, stressed that the level of proposed solutions looks exciting to him:

The Global CBDC Challenge aims to discover and develop retail CBDC solutions that will benefit the global community. We are encouraged by the strong interest from established financial institutions and emerging FinTechs alike. The quality of proposals received from the global innovation community was impressive.

Now the finalists are entering an eight-week Acceleration Phase that will include masterclasses and networking sessions with a clutch of top-notch experts.

The top three winners will each win 50,000 SGD. Also, the finalists will be granted API access to Singapore's digital currency sandbox.

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Vladislav Sopov

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)