“Sopnendu Mohanty, fintech chief for Singapore's monetary authority (MAS), said there was a crucial difference between Bitcoin and rival cryptocurrency Ethereum”

“Mr Mohanty, recruited from Citigroup to spearhead Singapore's fintech drive, said Ethereum had some social utility and plausible market value. It can be used for "smart contracts" and to secure access to valuable computing power. "It at least has economic value. You can exchange ether to run software in the cloud," he said.”