The Singapore banking establishment is peachy to implement FinTech in addition to blockchain innovations afterwards the launch of its accelerator program, FinLab, before this month.
On August 3, the Singaporean banking society, the United Overseas Bank (UOB) held its showtime accelerator plan that focused on applied scientific discipline solutions for the fiscal sector and smart contracts.
Nine startups that took part: Attores, CardUp, FinMitra, FinReg, Nickel, SsinoConnect, Stock2Day, Tuple, in addition to Turnkey Lender.
According to Singapore intelligence outlet, The Straits Times, startup Attores is working toward edifice a blockchain organisation that executes smart contracts that volition alter banking services, which are notwithstanding paper-intensive. Founded inwards 2013 yesteryear CEO in addition to co-founder David Moskowitz, the aim of Attores is to construct ‘an opened upwards repository of smart contracts, in addition to a platform which volition enable the secure customization of these contracts.’
Speaking to The Straits Times, Moskowitz explained that the ideal means to enable their startup stood out from its competitors was to experiment alongside blockchain. The exclusively means to plough over this was to have mentorship in addition to funding from a bank, which is what the UOB provided.
He said:
Our mentors at the banking concern guided us towards a clear direction in addition to insights on manufacture needs in addition to thus that nosotros could refine our production marketplace fit.
The Straits Times said that Attores was adding the finishing touches to a proof of concept, which Attores states “could potentially aid fiscal institutions gain to a greater extent than efficiency in addition to opened upwards novel lines of business.”
First Blockchain Innovation Centre
In July, CCN reported that IBM was opening its showtime Centre for Blockchain Innovation inwards Singapore alongside the intention of attracting to a greater extent than technical talent from the country. It aims to convey together numerous applied scientific discipline pilots inside the merchandise in addition to finance industries over the adjacent iii years. Many believe that Singapore is the perfect location to cash inwards one's chips a leading Smart Nation. Countless may meet this every bit the representative alongside the launch of its accelerator plan in addition to the opening of its showtime Centre for Blockchain Innovation.
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