Singapore Blockchain Associations Merge for Better Collaboration

singapore blockchain

The association is a merger between two Singapore-based blockchain associations.

Singapore Blockchain Association (SBA) and Blockchain, Enterprise and Scalable Technologies (BEST) have merged to form the Blockchain Association Singapore (BAS), whose launch was announced in a statement earlier this week.

As a platform for members to discuss blockchain solutions and best practices, BAS will foster collaborations in Asia starting with China, Hong Kong, Japan, South Korea, the Middle East and Southeast Asia regions, Co-Chairpersons Chia Hock Lai and Tan Bin Ru told Jumpstart via email.

They added that BAS will focus on the China market, and explore collaborations between Chinese and other Southeast Asian blockchain tech companies.

Chia Hock Lai is former Chairman of SBA and President of Singapore Fintech Association, while Tan Bin Ru is former Chairwoman of BEST and current CEO (APAC & UAE) of NYSE-listed OneConnect Financial Technology. Both SBA and BEST were founded in 2018.

BAS aims to enable companies in the Singapore market to leverage blockchain and other scalable technologies for growth of their business. As an ecosystem driver, it will be launching sub-committees in sectors such as Blockchain-as-a-Service, Decentralized Finance, Digital Assets, Supply Chain, and Trade Finance, the Co-Chairpersons noted.

BAS is also keen on promoting blockchain literacy as an ecosystem driver.

“Blockchain has been recognized as one of the highest skills in demand. With more enterprises becoming aware of and adopting blockchain solutions, the availability of a sustainable pipeline of blockchain talent will be important to drive the growth of the sector, and to position Singapore as the leading global blockchain hub,” the Co-Chairpersons said in the email.

It will be training its first batch of Associate Blockchain Developers in July, under the Professional Conversion Programme developed in partnership with the Singapore National Trades Union Congress and Singapore Polytechnic.

The six-month course, with up to 300 hours of classroom training and up to 660 hours of on-the-job training, is designed to help professionals make mid-career switches to become blockchain application junior developers.

Additionally, BAS will be introducing six-week executive courses on blockchain technology.

The Co-Chairpersons mentioned in the email interview that BAS has scheduled an inaugural SG Blockchain Week in July to spur international collaborations, and will be leading a trade mission to the “Future Blockchain Summit” in Dubai in September as well.

Blockchain technology brings promising potential to industries and businesses dealing with supply chain management, trade financing, regtech, insurtech, cross-border payments and asset securitization, they continue.

Speaking with regards to the launch, Chia said in the statement, “Singapore has become a burgeoning hub for blockchain and there is a need for an industry push to facilitate and encourage the development of new and existing players in this space,” while expressing his confidence in BAS to become an ecosystem support provider.

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