Friday
July 15
2016

Singapore Government Joins IBM to Create Blockchain Innovation Center

Computing giant IBM has revealed that the Singapore Economic Development Board (EDB) and the Monetary Authority of Singapore (MAS) are collaborating with it to establish its first Center for Blockchain Innovation in the country. The Innovation Center is expected to involve both global banks and fintech startups and to develop a number of technology pilots for the finance and trade industries, built on the Linux Foundation Hyperledger platform.

Robert Morris, Vice President of IBM Research, said: “This is IBM’s first collaboration with the private sector and multiple government agencies within the same country to explore the use of Blockchain and cognitive technologies to improve business transactions across several different industries.

Now with new cloud services that make these technologies more accessible, leaders from all industries are beginning to take note of the resulting profound and disruptive implications in a range of settings including finance, banking, IoT, healthcare, supply chains, manufacturing, technology, government, the legal system, and more.”

Source: Finance Magnates (link opens in a new window)

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blockchain, financial innovation, fintech