Singapore Blockchain Map 2020 Shows Strong Ecosystem Growthby Fintech News Singapore July 7, 2020
OpenNodes, powered by Tribe, unveiled the Singapore Blockchain Landscape Map 2020 at ‘Unitize’, a collaborative online blockchain conference organized by San Francisco Blockchain Week and Blockshow.
Since 2019, Singapore’s blockchain ecosystem has seen substantial growth. There are 91 new additions to Singapore’s Blockchain Landscape 2020 map with a total of 234 entities. These entities have been active in various blockchain related initiatives.
Some of these include Mastercard, VISA, Alibaba-backed Ant Financial, Tencent-backed WeBank, WireX, Phillip Securities, SAP, Contour, Facebook-backed Libra amongst others.
says Ng Yi Ming, Managing Partner, OpenNodes, powered by Tribe.
“IMDA’s tireless efforts and support for the blockchain community in Singapore and beyond, have fostered this ecosystem growth.
We are excited to see more local and international blockchain companies joining Singapore’s blockchain ecosystem and innovating across various sectors such as trade finance, smart cities and solutions & consulting. It is especially encouraging to see local companies such as DLT Ledgers, a Singapore-backed blockchain platform recently expand into MENA (Middle East and North Africa). IMDA looks forward to more collaborative efforts in anchoring Singapore as a blockchain hub in Asia,”
Singapore’s Blockchain Landscape 2020 map includes a new industry segment called the “Decentralised Finance” or better known as DeFI for most, which is a notable area for 2020 that has seen new companies emerge as well as incumbents extending their services into various areas.
There has been an increased activity due to numerous globally recognised projects. Temasek has recently partnered Facebook-backed Libra Association as its first Asian member and have also spun off several subsidiaries focusing on blockchain applications including digital identity and trade finance.
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