The Blockchain Ecosystem In Singapore Has Expanded By 50 Percent

by Coinworldstory

According To A Recent Announcement, The Blockchain Ecosystem In Singapore Has Expanded By More Than 50% Over The Past Year To More Than 200 Companies. A Year Ago, It Was Reported That The Singapore-based Blockchain Accelerator Tribe Is Launching Opennodes To Unite The Singapore Blockchain Ecosystem Under One Umbrella. The Accelerator Is Supported By The Government And Has Support From The Infocomm Media Development Authority (Imda).

Tribe-based Opennodes Presented The Singapore Blockchain 2020 Landscape Map At “Unitize”, A Joint Online Blockchain Conference Organized By San Francisco Blockchain Week And Blockshow. The Map Is Supported By The Infocomm Media Development Authority (“Imda”), A Singapore Government Agency. The Industry’s First Blockchain Summits From Around The World, Such As Korean Blockchain Week, Paris Blockchain Week, And Tel Aviv Blockchain Week, Came Together To Participate In This Virtual Event.

Since 2019, The Singapore Blockchain Ecosystem Has Seen Significant Growth. There Are 91 Additions To The Singapore Blockchain Landscape 2020 Map, Which Is 234 Objects. These Organizations Are Actively Involved In Various Blockchain-related Initiatives. Some Of Them Include Mastercard, Visa, Alibaba-backed Ant Financial, Tencent-backed Webank, Wirex, Phillip Securities, Sap, Contour, Facebook Libra, And Others.

Singapore’s Blockchain Landscape 2020 Map Includes A New Industry Segment, “Decentralized Finance”, A Notable Area For 2020 Where New Companies Are Emerging, As Well As Existing Employees Expanding Their Services In Various Areas. Activity Has Increased Thanks To Numerous Internationally Recognized Projects.

Ng Yi Ming, OpenNodes Managing Partner for the Tribe, said:

It’s time for us to appreciate the new reality for business and technology in the light of COVID-19. It seems that the number of new companies that appeared to serve the blockchain protocol level has decreased last year, and more companies have appeared at the blockchain application level. The coming year looks promising for blockchain-based financing, as banks and other existing financial institutions will play a much more important role after COVID-19. The tireless efforts of IMDA and the support of the blockchain community in Singapore and beyond have contributed to the growth of this ecosystem.

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