Trive Ventures Launches Blockchain Projects Accelerator In Singapore
Singapore is considered one of the world’s innovative cryptocurrency havens due to the progressive legislative environment and well-developed blockchain infrastructure. Here, the state organization Enterprise Singapore has partnered with the TRIVE Ventures firm and ICON Foundation to launch the Tribe business accelerator which is aimed at supporting blockchain startups, Ng Yi Ming, a partner at TRIVE Ventures, told Blockspoint.
According to Ng Yi Ming, the goal of the TRIVE developers is to create a platform which will be the catalyst for a growing blockchain ecosystem in Singapore and Southeast Asia. He added that this project stands out among other accelerators because participants will receive both support and resources from the government and the company’s ecosystem.
“Singapore is known as a technological hub globally, and governmental support for a blockchain accelerator shows the willingness of the country to commit and move forward with technologies. The rapidly growing business environment in Southeast Asia and Singapore should continue to ensure that there is a steady stream of top talents and businesses looking to enter the region”, — said Ng Yi Ming.
He added that it is urgent to create the ecosystem including descent blockchain startups to attract investments more efficiently. The Tribe accelerator is designed for the later stage startups which already have a proper business model in place. The expert claims it is essential for the widespread introduction of distributed technologies that the blockchain projects are applicable in the real world and bring benefits.
“If we really want to encourage wide adoption, it is urgent to inform and educate the mass audience about the benefits that blockchain can provide, for example, through better and more secure identity verification, rather than going into too many technical details about its code architecture. Another key point is to inform average citizens that various governmental agencies and traditional corporations are supporting a huge amount of the blockchain use cases in order to bring better services to the people”, — Ng Yi Ming concluded. He noted that decentralized technologies should not change the role of authorities and regulators but rather provide support to them.
As previously reported, Singapore citizens have lost about $78,000 because of scam articles promoting fake bitcoin investment schemes.