fbpx

Singapore Vies for Blockchain Leadership in Southeast Asia

Asia Blockchain Review
July 3, 2019

The decentralized nature of blockchain technology has allowed blockchain startups to operate from virtually anywhere in the world. Silicon Valley, though recognized as a key location for successful startups, is no longer the only place for new blockchain firms.

Singapore Emerges as Asia’s Blockchain Capital

Cities worldwide are fighting for the title of ‘blockchain capital’, with many proving to be hot spots for developers and investors.

One of the strongest contenders in Asia is Singapore, where firms often look to launch an initial coin offering (ICO). The city-state has a reputation for fostering prominent blockchain companies, such as Digix, TenX, and Zilliqa. 

The Monetary Authority of Singapore (MAS) has played a large role in growing the blockchain community, previously announcing that it will not regulate the industry but instead provide support to blockchain businesses.

Singapore’s Project Ubin and Other Tech-Friendly Initiatives

Furthermore, Singapore has introduced blockchain technology in an experimental project under the name of Ubin in collaboration with R3. With the goal of exploring the use of distributed ledger technology (DLT) for the settlement of payments and securities, Project Ubin has demonstrated to authorities how blockchain can be used to drive businesses forward.

Another important initiative is the MAS’s US$150 million fund for fintech (financial technology) projects. Moreover, Singapore is the venue of the FinTech Festival,  the largest conference for financial technology worldwide that saw the participation of over 30,000 attendees.

Singapore is abuzz with developments in the blockchain community, and its businesses are certain to continue flourishing with the support of both the private and public sectors. 

Source: https://medium.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
G20 Leaders: Crypto Assets Do not Pose a Threat
G20 leaders reaffirmed at the Osaka summit late last month that digital currencies are no threat to ...

July 17, 2019

Thai Business School, Blockchain Advisory Jointly Offer Blockchain Course
NIDA Business School, a leading graduate-level institution in Thailand, is collaborating with a bloc...

July 17, 2019

Blockchain Firm ConsenSys Secures $10M from South Korea’s SK Group
The investment from South Korea’s largest telecom comes as Asia’s fourth largest economy gets more i...

July 17, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us