Welcome to the Blockchain Party
In a world where the only constant is change, Singapore is taking monumental strides in the blockchain arena with the launch of Tribe Accelerator. Supported by Governmental body Enterprise Singapore and local venture capital firm Trive Ventures, this initiative aims to skyrocket later-stage startups into the dizzying heights of blockchain success.
The Accelerator: What’s Cooking?
Tribe Accelerator isn’t just any run-of-the-mill program; it’s a carefully concocted six-month experience designed to foster mass adoption of all things blockchain—from decentralized applications (DApps) to back-end digital solutions. The initial selection of eight startups will be handpicked to embark on this transformative journey by Q1 2019, paving the path for technological innovations.
Backing from the Big Guns
With Enterprise Singapore at the helm, the program also features formidable allies like the PricewaterhouseCoopers (PwC) Venture Hub and South Korea’s Icon Foundation. Now that’s a formidable entourage! This backing signifies a robust collaborative effort to push the boundaries of blockchain technology and its practical applications.
Singapore’s Crypto Love Affair
Singapore’s got a long-standing crush on crypto and blockchain. State investment firm Temasek Holdings Pte. Ltd. recently showered love on enterprise blockchain software firm R3, joining forces in a hefty $107 million Series A fundraising round. And let’s not forget the successful blockchain test for tokenized assets settlement between Singapore’s Exchange Limited (SGX) and Nasdaq. If this isn’t a modern-day fairytale, what is?
Regulating the Blockchain Landscape
As the blockchain ecosystem flourishes, the Monetary Authority of Singapore has stepped up to the plate with a regulatory framework finalized in late November. The new regulations aim to protect consumer funds, combat terrorism financing, and bolster cybersecurity. With these measures, the central bank is officially the watchful eye over crypto payment systems—think of it like a caring parent with a firm grip on their child’s pocket money.
PwC: Ready to Rock Blockchain
And speaking of the big players, PwC is not sitting idle. Recently, their venture branch announced a two-year plan to train 1,000 staff in blockchain technology—a move that’s sure to turn heads in the industry. Looks like they’re gearing up to ensure they’re as savvy as the next blockchain whizz!
