Singapore government invests $8.9m to support blockchain research

Enterprise Singapore, the Infocomm Media Development Authority, and the National Research Foundation Singapore, has launched a S$12 million (US$8.9 million) program to further strengthen the city-state’s blockchain ecosystem.

Supported by the Monetary Authority of Singapore, the Singapore Blockchain Innovation Program (SBIP) will engage close to 75 companies including multinational corporations, large local enterprises, and information and communications technology (ICT) firms.

These companies will conceptualize 17 blockchain-related projects in various sectors within the next three years, starting with trade and logistics and supply chain, according to a statement.

Read more: Tech In Asia