Singapore Bank Launches Blockchain Solution to Optimize Grant Issuance Process

DBS Bank, the largest bank in Singapore, has launched a pilot project to optimize the process of issuing government grants using a blockchain solution.

"By utilizing smart contracts, the solution automates the grant issuance process, ensuring that funds are disbursed only to approved recipients and under specific conditions. This not only reduces the need for manual intervention but also enhances transparency and accountability," the statement said.