What Is Singapore Government’s Newest Blockchain Pet Project?

By Sumedha Bose

It is no secret that Singapore has emerged as a safe haven for those willing to work with blockchain technology in specific. The country does not impede the growth of blockchain startups by introducing any harsh regulations that might adversely affect them.

The Singaporean Government’s newest initiative to boost blockchain startups in the country is to introduce Tribe Accelerator. It is the first blockchain accelerator to be backed by the country’s government. It is an incubator and startup accelerator that hopes to leverage the capital and resources of its partners to encourage innovative blockchain startups to flourish.

It has recently joined hands with BMW, Nielsen, and Intel Corporation to provide the expert mentorship and funds that these developing companies could really benefit from.

According to them:

“Tribe Accelerator is focused on laying the right foundations for the participating startups, and one of the best ways to do so, is to source for, and secure strategic partnerships with companies that have complementary capabilities, and the resources to push for a breakthrough in the industry.”

Ryan Chew, Managing Partner of Tribe Accelerator, talked about how the this initiative could be a real game chnager for these companies:

“We have a vision of how the technology – an enabler of cross sector innovation with transformative potential-can be beneficial in the everyday lives of people. To move forward as a society, we need to encourage experimentation, and once the benefits of blockchain technology become evident, mainstream adoption will undoubtedly follow.”

It is a great opportunity for these new companies who wish to develop their products in a competitive market. These three new collaborations will each provide their expertise, knowledge, and technical mentorship to startup companies who are part of this incubator.

More incubators like these should be encouraged by governments all across the world to pave the way for greater technological innovation in the market.