多种币交易和合约平台.pptx

Contents02 FOREWORD04 EXECUTIVE SUMMARY06 1 — PROJECT ORCHID INTRODUCTION08 2 — MOTIVATION12 3 — PURPOSE-BOUND MONEY (PBM) OVERVIEW3.1 PBM Architecture3.2 Digital Currencies backing PBM3.3 PBM Wrapper3.4 PBM Infrastructure3.5 PBM Wallets18 4 — PBM USAGE PATTERNS4.1 Government to Person4.2 Person to Government4.3 Corporation to Person4.4 Person to Corporation4.5 Person to Person28 5 — PBM FUNCTIONAL OVERVIEW5.1 PBM Lifecycle Stages5.2 PBM Roles and Responsibilities5.3 PBM On-ramp Off-ramp32 6 — DESIGN CONSIDERATIONS6.1 Interoperability6.2 Fungibility of digital SGD across issuers6.3 User Protection6.4 Operational Cost6.5 Digital Readiness6.6 Security6.7 Anti-Money Laundering and Terrorist Financing Risks38 7 — CASE STUDIES7.1 Case Study 1 - Government Vouchers7.2 Case Study 2 - Commercial Vouchers7.3 Case Study 3 - Government Pay-outs7.4 Case Study 4 - Learning Account48 8 — SUMMARY AND NEXT STEPS50 9 — ACKNOWLEDGEMENTSAnnex 1: Central Bank Digital CurrencyAnnex 2: Tokenised DepositsAnnex 3: StablecoinsAnnex 4: Glossary of Terms ForewordDigital assets enabled through the innovative combination of tokenisation and distributed ledgers offer transformative economic potential. Tokenisation enables anything of value to be represented in digital form, stored and exchanged on a ledger that keeps an immutable record of all transactions. If done right, the digital asset ecosystem could potentially facilitate more efficient transactions, enhance financial inclusion, and unlock economic value. It could improve financial services -a common goal shared by MAS, the financial industry and the FinTech community. However, like all innovations, digital asset activities pose risks as well as benefits.MAS, vision is to build an innovative and responsible digital asset ecosystem in Singapore. The development strategy and regulatory approach for digital assets go hand-in-hand towards achieving this. MAS development strategy makes Singapore one of the most co