Copy link
Increase text size
Decrease text size
Link copied

Perlin Network, ICC to establish Center of Future Trade for blockchain adoption in Singapore

Tue, 04 Jun 2019, 03:13 am UTC

Blockchain development firm Perlin Network and the International Chamber of Commerce (ICC) will establish a Center of Future Trade (CoFT) with support from Enterprise Singapore, the country’s trade authority, Dr. Koh Poh Loon, Singapore’s Senior Minister of State, Ministry of Trade and Industry, announced at the Global Trader’s Summit.

According to the press release, the planned CoFT will be an open digital platform and support blockchain and distributed ledger technology (DLT) adoption in the fields of agriculture, energy, household goods, metals, and minerals.

Perlin is proud of securing strategic and financial support from Enterprise Singapore to help move trading and commodities businesses away from paper-based systems to the modern blockchain, distributed digital platforms like Wavelet, Clarify, Certify, and smart contracts in trade finance,” Perlin’s CEO Dorjee Sun said.

According to Forbes, Perlin’s blockchain is designed to allow users to track and move all types of value and write distributed applications (dapps) that do not depend on centralized processors. The CoFT aims to ultimately help companies shift from paper-based systems to digital blockchain-based platforms with the application of smart contracts and tokenized pilots.

The collaboration will see Enterprise Singapore providing strategic, funding, and network support for Perlin to develop and deploy pilots for this new technology.

With CoFT, Singapore-based international trading companies will have more opportunities to test and develop strategies and new technologies that will put them in good stead to succeed in the ever-evolving trading industry,” Satvinder Singh, Enterprise Singapore Assistant CEO, said.

On the other hand, the ICC will connect its 45 million members worldwide, like Amazon, Coca Cola, and PayPal, to the platform. The world’s largest business organization also aims to give its members the chance to tap into the many capabilities of blockchain in areas including supply chain traceability, trade finance, and anti-counterfeiting.

Meanwhile, the ICC and Perlin Network recently signed an agreement to explore Perlin’s blockchain platform to simplify supply chains and cross-border trade finance process, Forbes reported. Perlin will become ICC’s official technology partner as it offers free access to its blockchain platform during the project’s early stages.

Capital markets platform iSTOX has also recently joined the Monetary Authority of Singapore’s Fintech Regulatory Sandbox to launch digitized securities trading late this year. The firm, which aims to move into full operation by 2020 as a fully regulated platform, has started onboarding its first batch of issuers and investors.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (btc) $54,578.00 (-10.80%)
  • Ethereum (eth) $2,092.30 (-13.35%)
  • Binance Coin (bnb) $455.53 (-12.31%)
  • XRP (xrp) $1.24 (-22.35%)
  • Tether (usdt) $1.00 (+0.41%)
  • Bitcoin (btc) $54,578.00 (-10.80%)
Apr 18, 2021 (Sunday)
11:36
BTC Drops by 1.22% Within 5 Mins, Marking 54,000 USDT
08:50
BTC Drops by 1.02% Within 5 Mins, Marking 55,377.46 USDT
08:05
BTC Drops by 1.04% Within 5 Mins, Marking 55,899.53 USDT
03:34
BTC Drops by 6.05% Within 5 Mins, Marking 53,006.62 USDT
03:23
BTC Drops by 6.19% Within 5 Mins, Marking 54,498.5 USDT
03:20
BTC Drops by 1.75% Within 5 Mins, Marking 57,373.57 USDT
Apr 16, 2021 (Friday)
10:00
DOGE Tops List Of Crypto Net Inflow With $1.69 Bln In Past 18 Hours
06:04
BTC Drops by 1.02% Within 5 Mins, Marking 61,190.87 USDT
04:37
BTC Drops by 1.08% Within 5 Mins, Marking 61,928 USDT
03:33
Class ZZ Deployed Cross-Chain Contracts On ETH, HECO, And BSC
02:30
Crypto Market Sentiment On Apr 16: Market In "Extreme Greed"
02:00
DOGE Tops List Of Crypto Net Inflow With $884.07 Mln In Past 10 Hours
01:37
Class ZZ Mainnet To Undergo Maui Fork
01:36
Data Summary Of Boboo.com's Perpetual Contract: April 16
Apr 15, 2021 (Thursday)
10:00
DOGE Tops List Of Crypto Net Outflow With $345.17 Mln In Past 18 Hours
07:43
TriumphX Signs MOU For Content Supply With Inamu To Launch Webtoon NFT Platform
02:30
Crypto Market Sentiment On Apr 15: Market In "Extreme Greed"
02:00
BTC Tops List Of Crypto Net Outflow With $419.77 Mln In Past 10 Hours
01:33
Data Summary Of Boboo.com's Perpetual Contract: April 15
00:00
BTC Surges by 1.05% Within 5 Mins, Marking 63,285.55 USDT
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft