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04/12/18 13:00 UTC-4

Singapore: State Agency launches blockchain accelerator, created by a venture capital firm

Enterprise Singapore, a Singaporean government agency, along with other partners supported the new blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
accelerator launched by a local venture capital company, The Straits Times ,the local newspaper, writes on Tuesday, December 4th.

Trive Ventures launched a firm called Tribe Accelerator to support startups. According to an unknown investor cited by The Straits Times, the accelerator firm is designed for a six-month period and will focus on the massive deployment of blockchain, decentralized applications (DApps) and internal digital solutions.

Tribe Accelerator managers will initially collect eight startups to participate, and the launch of the program is scheduled for the 1st quarter of 2019.

In addition to Enterprise Singapore, formed in April 2018 for the support and development of enterprises in Singapore, Tribe Accelerator is reportedly supported by PricewaterhouseCoopers (PwC) Venture Hub in Singapore and the South Korean Blockchain Icon Foundation.

The development of crypto technology and blockchain in Singapore

Singapore is known for its widespread support for crypt- technology. Temasek Holdings Pte, a state-owned investment company, recently invested in blockchain and the R3 global banking consortium.

As for cryptocurrency, the central bank of Singapore completed its regulatory framework at the end of November to better protect consumer funds, fund the fight against terrorism, and strengthen cybersecurity. According to the new rules, the bank can control cryptocurrency systems.

PwC, whose venture company supported the blockchain booster in Singapore, is also actively exploring blockchain technology in general. In August, the Big Four announced the launch of its own accelerator, which, within two years, has trained 1,000 employees in the blockchain.

Editor: Yulia Krasnaya

See also: "Auchan announced the introduction of blockchain technology in the product delivery system"

#Singapore #blockchain accelerator #blockchain #cryptocurrency

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