Singapore launches $9m programme to strengthen the country's blockchain ecosystem

Singapore launches $9m programme to strengthen the country's blockchain ecosystem

Cryptocurrency mining machines sit in operating racks at the home of Dmitry Gutov, a Russian cryptocurrency 'miner,' in Krasnogorsk, Russia, on Thursday, Sept. 7, 2017. Photographer: Andrey Rudakov/Bloomberg

Singapore government arms, including Enterprise Singapore, Infocomm Media Development Authority and National Research Foundation, have launched a S$12 million ($8.9 million) programme to strengthen the country’s blockchain ecosystem, according to a press statement on Monday.

Funded by NRF, the ecosystem is called Singapore Blockchain Innovation Program (SBIP) and it aims to align blockchain technology research with the needs of the industry — to facilitate the development, commercialisation and adoption of wider real-world applications.

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