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2 Singapore blockchain associations merge to launch Blockchain Association Singapore

Image by Peter Pecksen from Flickr

Fri, 17 Apr 2020, 01:40 am UTC

Two blockchain associations have decided to merge to launch Blockchain Association Singapore (BAS).

According to the press release, BAS is the product of Singapore Blockchain Association (SBA) and the Blockchain Enterprise and Scalable Technologies (BEST) that were both founded in 2018. BAS was created because both share the same goal of enabling the digital economy through the convergence of technologies.

SBA and BEST believe that blockchain is at the center of scalable technologies and plays a key role in building a digital economy. By merging, the two associations will have a wider geographical reach and their partnership will allow for more effective use of resources.

BAS will be co-chaired by two industry veterans Mr. Chia Hock Lai, former Chairman of SBA who currently serves as the President of Singapore Fintech Association (SFA), and Ms Tan Bin Ru, former Chairwoman of BEST and current CEO (APAC & UAE) of New York Stock Exchange listed OneConnect Financial Technology.

“Singapore has become a burgeoning hub for blockchain and there is a need for an industry push to facilitate and encourage the development of new and existing players in this space. I am confident that the establishment of Blockchain Association Singapore will add more vibrancy and support to the current ecosystem while providing guidance for enterprises who are keen to adopt blockchain solutions,” said Chia.

“I am pleased to be a part of the Blockchain Association Singapore to advocate the impact of the disruptive emerging technologies like blockchain and the value that transformation could bring to a business,” Tan added. “Firms today will need to stay nimble and find new, effective ways to enhance their business - blockchain is one of the technologies that can create tremendous value. With this in mind, we will stay committed to advancing blockchain and scalable technologies for our members and international partners,

Among BAS’ goals are to promote blockchain literacy and build a strong pipeline for the digital economy. The new association has also partnered with Singapore Polytechnic to support working adults and help them acquire new skills. BAS will also be rolling out a series of six-week courses on blockchain technology for business executives and working professionals.

Meanwhile, China has also launched a new national blockchain committee to speed up blockchain adoption. Several major companies joined including tech giant Huawei and Baidu, and fintech companies Tencent and Ant Financial to name a few.

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