Read the paper: “Project Ubin Phase 2 Reimagining RTGS” You are required to read Sections 1, 2, 3, 4.1, 5, 6, and 7 to answer Question 3.

(a) In not more than 250 words, write a concise overview of Project Ubin Phase 2. (10 marks)

(b) Appraise the need for Project Ubin Phase 2 to realise each of the security objective below. Your answer should ideally exhibit understanding of the platforms (i.e., Corda, Hyperledger Fabric and Quorum) and be backed by either quoting or paraphrasing statements from the Project Ubin Phase 2 paper. Refer to the security objective mapping with cryptographic techniques Security objectives:

1. Data confidentiality

2. User confidentiality 

3. Data integrity 

4. Availability 

5. User authentication 

6. Data authentication and accountability.

(c) Contrast Bitcoin with Project Ubin (or private blockchain, in general) in terms of achievability of the security objectives CIA data confidentiality, data integrity, availability. In addition, evaluate the performance of consensus in public blockchain like Bitcoin in comparison to private blockchain.

Answer rating: 100% (QA)

The detailed answer for the above question is provided below Answer a Project Ubin Phase 2 is a proof of concept PoC initiated by the Monetary Authority of Singapore MAS to explore the use of Distribu... View the full answer