Blockchain Startups are Welcome in Singapore!
According to the senior official of Singapore´s central bank there are currently more than 50 Blockchain Startups located within the Country. All probably due to the fact, that the new technology is welcome in Singapore and companies don´t have to fear any major restrictions.
Actually the whole tech industry is getting supported by local research institutions, venture capitalists and major tech firms as explained just yesterday by Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS).
Further he sees a huge potential in the cooperation with the Indian state of Andhra Pradesh, who just recently started a number of Blockchain Pilots e.g. to replace the current land registry. In regards to this Partnership Ravi Menon further stated the following:
"We can explore how our customs and trade platforms can be linked up to facilitate exchange of trade documents and advance the digitalisation of trade. Our banks can work together on new models of cross-border payments to improve settlement time, allow for round the clock operations, and reduce settlement risk."
Singapore might lead us into the Future!
Whenever we´re talking about CryptoCurrencies or Blockchain in general then we´re always getting back to Singapore in one or another way. The country facilitates the new technology, which is quite clever due to the huge potential it bears and the great advantage it might bring them over other countries, who are still trying to understand or even ban it all.
In my opinion Singapore will become one of the major hubs of Blockchain revolutions in future and might just be the country that allows us all to make the next step into a more independent future through the use of this new technology.
What´s your opinion?
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