Singapore bets on a new digital economy based on Blockchain

Singapore announced the launch of the Blockchain Association Singapore, an initiative that seeks to establish itself as the nerve center of the use of scalable technologies in the country and in the world helping to build a new digital economy.

This new partnership results from the merger of Singapore Blockchain Association with Blockchain Enterprise and Scalable Technologies which were founded in 2018 and now they have been united with the intention of providing knowledge and training in order to carry out the synergy of the digital transformation of financial institutions.

Dozens of companies have already been developing activities in the blockchain ecosystem in the Asian country allowing the country to position itself as a global center in the implementation of technologies of this type.

However, efforts in this area multiplied; the Blockchain Association Singapore established in this first phase as one of its main objectives the literacy of distributed data technology, and for this they are designing professional training programs in conjunction with the Polytechnic from Singapore and the company NTUC under the name Professional Conversion Program.

This seeks to encourage and cultivate sound knowledge about the blockchain towards the digital economy.

In the midst of all these advances, the government launched a contest that seeks to reward those projects based on blockchain technology to encourage their development and use in the country.

The country’s Department of Communication affirmed that this type of technology can streamline business operations, help in government and social interactions or improve public services.

The crisis generated by the spread of Covid-19 has made clear that there is a broad interest from many governments around the world about the need to increase training in blockchain technology.