Singapore Government Launches New $9 Million Program to Supportblockchain ecosystem of the country.
The Singapore Blockchain Innovation Programme will be engaged in the research, development and commercialization of ready-made blockchain applications.
The first participant in the program was technology firm Dimuto, which uses blockchain to track perishable products in order to improve the creditworthiness of farmers.
The program is run by the National University of Singapore, funded by the National Research Foundation and supported by the Monetary Authority of Singapore, Enterprise Singapore and Infocomm Media Development.
Enterprise Singapore spokesman Peter Ong said:
The pandemic has shown that businesses and entire industries need to change and adapt to the situation.As demand for digital solutions increases, there is a demand for reliable and secure digital transactions.Blockchain technology helps build trust in applications that deal with supply chains, finances and credentials.
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