Speaking to CNBC on Monday, Feb. 12, chief fintech officer of the Monetary Authority of Singapore Sopnendu Mohanty said it will be "Two years" before the central bank's Blockchain project sees "Real impact." Discussing the state of its "Project Ubin" and cryptocurrency in general, Monetary Authority of Singapore chief fintech officer Sopnendu Mohanty described the concept of Blockchain technology as "Fabulous." Mohanty told CNBC:. "I think it has another two-year run before we get the transportation layer done, the transmission of data, storage of data the whole Blockchain has to be across multiple-sector common infrastructure, then the real impact comes." Singapore has remained bullish on the potential both cryptocurrency and Blockchain hold despite varying opinions given by governments throughout the world along with continued periods of volatility.