‘Center of Future Trade’ to Promote Blockchain Adoption in Singapore

Asia Blockchain Review
June 20, 2019

Blockchain development firm Perlin Network and the International Chamber of Commerce (ICC) have announced a joint project to launch the Center of Future Trade (CoFT) to promote further blockchain adoption in Singapore. The initiative has received support from Enterprise Singapore, the state agency tasked with the nation’s trade activities.

CoFT Platform to Support Blockchain Adoption

TokenPost reported that CoFT will be an open digital platform that promotes distributed ledger technology (DLT) and blockchain adoption across several industries, from metals, minerals, and energy to agricultural commodities and household goods.

Dorjee Sun, CEO of Perlin Network, said in a statement, “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.”

The newly-announced CoFT aims to provide assistance to companies looking to shift from paper-based systems to digital blockchain-based platforms and smart contracts.

Enterprise Singapore Propels Blockchain Implementation

Enterprise Singapore has been an avid proponent of the development and implementation of blockchain technology.

Satvinder Singh, Assistant CEO of Enterprise Singapore, said, “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.”

The ICC, meanwhile, has announced that it will connect its 45 million members worldwide, including Amazon, Coca Cola, and PayPal, with the platform, allowing companies to use blockchain for activities such as trade financing and anti-counterfeiting.

Source: www.tokenpost.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Blockchain: Fine-tuning the Music Industry
Music might be in need of another tech disruption in the form of blockchain.

July 17, 2019

Graph Blockchain Secures Contract with South Korean Transport Ministry
The pilot project is for storing traffic data on a blockchain network as part of the Smart City nati...

July 13, 2019

Hong Kong, a Great Place for Blockchain Startups
It is quite evident that Hong Kong is quite rapidly developing to be a blockchain hub in the region ...

July 12, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us