MAS' Mohanty on Fintech, Blockchain, Big Data

The video discusses how financial institutions and government bodies can leverage startup innovation, focusing on Singapore's role in the Fintech industry. It highlights the importance of collaboration, particularly with Hong Kong, and the potential of blockchain technology. The discussion also covers big data sharing, emphasizing a natural synergy in Singapore's ecosystem. Challenges such as talent shortage and risk-taking culture are addressed, along with IP protection concerns. The video concludes with insights from the Singapore Fintech Festival.

What is the primary reason for Singapore's success as a Fintech hub?

• High investment in technology

• Strict regulatory policies

• The trust and collaboration among stakeholders

• Its large market size

Why did MAS choose to collaborate with HKMA?

• To focus solely on blockchain technology

• To compete with other financial centers

• To create a proprietary innovation

• To build a collaborative global trade network

What is a key factor in the successful implementation of blockchain technology?

• Proprietary systems for each jurisdiction

• Immediate global connectivity

• Standardized and scalable infrastructure

• Exclusive use by financial institutions

What is the current state of data sharing in Singapore?

• It is limited to consumer data only

• It is mandated by the government

• It is still in the early stages

• It has a natural synergy through APIs

What is a major challenge in Singapore's Fintech ecosystem?

• Lack of regulatory support

• Limited access to global markets

• Shortage of talent and risk-taking culture

• Overemphasis on IP protection

How does Singapore address concerns about IP protection for startups?

• By discouraging IP registration

• By focusing on consumer experience over IP

• By offering limited protection laws

• By being a top-ranked center for IP protection

What drives the long-term innovation and adoption in the Fintech ecosystem?

• Strict IP laws

• Consumer experience

• Government mandates

• Exclusive partnerships