IBM to Open Innovation Centre in Singapore, Focusing on Blockchain Apps
The growing disruptive implications of Blockchain in a range of settings including the financial and health sectors is key to IBM’s decision to open an innovation center in Singapore. According to the Vice President, Global Labs at IBM Research, Robert Morris, this first collaboration between IBM and the private sector and multiple government agencies within the same country to explore the use of Blockchain and cognitive technologies will aim at improving business transactions across several different industries. He said: “Now with new cloud services that make these technologies more....
Related News
IBM is set to open the first Centre for Blockchain Innovation in Singapore in a bid to attract more technical talent from the country. Working with the Economic Development Board and Monetary Authority, the Centre aims to bring various technology pilots within the trade and finance industries over the next three years. IBM will also continue building on its work with the Linux Foundation Hyperledger platform. Sopnendu Mohanty, chief FinTech officer of the Monetary Authority of Singapore (MAS) said that the financial sector is ideally placed to play a leading role in Singapore’s vision of....
IBM expanded its blockchain efforts in Singapore today with news it will open the Center for Blockchain Innovation in partnership with the Singapore government. Coming just week after the company announced it would open a new facility in Singapore for 5,000 computer scientists, today’s news is suggestive of what has been called a high level of support for blockchain technology in the region. Robert Morris, vice-president of Global Labs at IBM Research, said in a statement that advances in cloud services are making the distributed ledger technology more widely accessible in new regions and....
Visa is the world’s largest payment network and handles nearly 56,000 transaction messages a second. In August 2015, the company had announced the opening up of a new technology development centre in Bangalore, India. According to a press release made by Visa the aim of this development centre is to boost digital commerce globally. It has now been revealed that this centre will also focus on blockchain the technology behind Bitcoin. Visa chooses Blockchain. According to the Indian financial newspaper Mint a Top Visa executive has revealed that the company plans to use Blockchain technology....
The Monetary Authority of Singapore, the city-state's central bank, has funded a blockchain-based record-keeping system as part of a five-year $225m investment plan aimed at financial technology. Managing director Ravi Menon announced the Financial Sector Technology & Innovation initiative during a 29th June speech at the Global Technology Law Conference 2015 in Singapore. The money will be used to build innovation centers and fund financial tech projects such as the blockchain recordkeeping system. The goal, he said, is to attract financial tech startups to build their companies in....
Typically, financial institutions wait for a new technology to mature before investing in it. Blockchain technology, because of the impact it is expected to bring to the financial industry, is a different matter, as witnessed by the number of financial institutions investing in blockchain experimentation. Two Netherlands-based banks, Rabobank and ABN AMRO Bank N.V., are among the latest financial institutions to venture into blockchain-based solutions. Blockchain investment totals close to $1 billion, noted Arjan van Os, head of Innovation Centre, and Marjan van der Plas, innovation....