IBM to open first blockchain innovation centre in Singapore

The IBM logo is seen outside the company's offices in Petah Tikva, near Tel Aviv October 24, 2011. REUTERS/Nir Elias/Files

IBM plans to open a blockchain innovation centre in Singapore in collaboration with the government, as the city-state strives to become Asia’s main financial technology hub.

The tech giant will be working with the main economic planning agency, the Singapore Economic Development Board (EDB), and the Monetary Authority of Singapore (MAS) to accelerate blockchain adoption for finance and trade.

One project, together with PSA International – one of the world’s largest container transshipment ports owned by state investor Temasek Holdings – aims to connect fintech with global trade and logistics.

The blockchain technology works by creating permanent, public “ledgers” of all transactions that could potentially replace complicated systems such as clearing and settlement with one simple database.

Singapore is rushing to reinvent itself as Asia’s fintech hub to fend off a regulatory threat to its wealth management industry and revive a sluggish economy.

Observers say it is ahead of long-time rival Hong Kong, but measures to curb the number of foreign workers and previous regulations creating a risk averse culture at odds with the trial-and-error approach of fintech start-ups, remain key obstacles in developing the sector.

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Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.