ConsenSys ecosystem report: Singapore primed for blockchain

by Blocks99

3 months ago

Singapore’s regulatory environment is “consistently pro-enterprise and supportive of emerging technologies like blockchain,” according to ConsenSys.

The global blockchain company says it has examined the blockchain innovation landscape in Singapore in the areas of finance, healthcare and smart solutions. Its report, Singapore Blockchain Ecosystem 2019, explores various use cases in the country, including how licensed securities exchanges are using blockchain technology to create liquidity in private markets. It calls Singapore’s regulatory strategy “transparent, open and forward-looking” and a balance of the need for oversight while embracing technology.

The report looks at how blockchains can be used to create value as well as to enable vertical integration and collaboration between enterprises and organizations. It also cites figures from Singapore’s Infocomm Media Development Authority (IMDA) projecting that the country’s blockchain market has the potential to achieve a market spending of up to US$ 272m in 2022 and as much as US$ 2.6bn by 2030 with a compound annual growth rate of 32.5%.

(Source: ConsenSys)

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