Meet Monica Singer, the ambassador for blockchain company ConsenSys
ConsenSys envoy and ex Strate head says blockchain is a no-brainer if SA wants to prevent repeats of recent fraud cases
A small spelling mistake gifted the former CEO of Strate, SA’s central securities depository, her new job as ambassador for New York-based blockchain firm ConsenSys. Uruguay-born Monica Singer headed Strate for 18 years, introducing electronic settlements to the country’s financial markets. But she left the company when the board — perhaps understandably — wouldn’t listen to her pleas to revamp its business model and shift all processes onto blockchain. Blockchain refers to the decentralised, public ledger system that records transactions. In Singer’s eyes, the technology "will change everything". What is frustrating her is that, just as it was when the internet was first launched, most organisations in SA are keeping a safe distance. After leaving Strate, Singer planned on setting up her own blockchain consultancy, but things took a curious turn when a reporter asked her in an interview which fintech companies she’d most like to work with. She said "Consensus" — the chain of blockc...