Legal regulation of the use of distributed ledger technologies in the education and economic system of Singapore

Aleksandr P. Alekseenko

doi:10.22633/rpge.v26i00.17410

Authors

Aleksandr P. Alekseenko Vladivostok State University of Economics and Service https://orcid.org/0000-0003-0707-8372

DOI:

https://doi.org/10.22633/rpge.v26i00.17410

Keywords:

Education, Education system, Digitalization, Digital tokens

Abstract

Singapore is one of the leading countries in the digitalization of education and the use of blockchain technology. Since 2016, Singapore has been implementing the Ubin project to create a national digital currency. The paper aims to analyse legal regulation of the use of distributed ledger technologies in the education system of Singapore. Based on the analysis, it is concluded that Singapore extends the provisions of securities legislation to digital tokens, which have the characteristics of securities or futures. Singapore has developed a set of rules enshrining requirements for cryptocurrency exchanges, which reduces the risks of fraud and money laundering using cryptocurrencies. The paper also analyses MAS reports on the development of a state's digitalization of education. The paper concludes that Singapore's experience can be used by other states to shape or modernize their education system.

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Author Biography

Aleksandr P. Alekseenko, Vladivostok State University of Economics and Service

Ph.D, Associate Professor of the Civil Disciplines Department.

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