ConsenSys Signs MoU With Singapore Blockchain Accelerator, Tribe, To Enhance DLT In The Country

ConsenSys Signs MoU With Singapore Blockchain Accelerator, Tribe To Enhance Blockchain Technology In The Country

Singapore has been known as one of the friendliest governments in fintech innovations and especially after the rise of blockchain technology. This is clear with the launch of Tribe Accelerator, a blockchain focused accelerator for blockchain startups in Singapore. ConsenSys is an Ethereum based blockchain company with a strong base in the South East Asia including the presence in Philippines, in Australia and in New Zealand.

The latest partnership between the Singapore government-supported blockchain accelerator and ConsenSys is set to commence after a signed Memorandum of Understanding (MoU) between the two organizations. The partnership is set to initiate new activities and innovations to improve the existing blockchain networks in the country.

Tribe Accelerator is a Singapore government-sponsored platform that aims for the growth of later stage startups. The startups are provided with a hyper-connected decentralized platform to develop their products and services. The accelerator further offers a platform that will boost the levels of blockchain technology adoption across the country.

ConsenSys is a blockchain world leader company founded by Joseph Lubin, a co-founder of Ethereum blockchain. The company runs a consultancy and venture development studio to develop and provide innovative solutions to the infrastructure, applications and knowledge of blockchains worldwide.

Reactions To The MoU Signed Between Tribe And ConsenSys

The partnership is mutually beneficial to both parties to boost mass adoption of blockchain technologies. Tribe opens up the Singapore market to ConsenSys through international networking with institutional, corporate and government partners including PwC Singapore and Enterprise Singapore. ConsenSys on the other hand will provide mentorship and consultations to the startups in the accelerator and further assist in development of blockchain products.

The technical partnership between Tribe Accelerator and ConsenSys was highly praised by Yi Ming Ng, Managing Partner at Tribe Accelerator. Yi further spoke on the impact of having ConsenSys mentoring the startups to develop products and service solutions using blockchain technology. He said the partnership has “potential to serve as the foundation for new systems that are more efficient and accessible.”

Having operated in the South East Asia region since 2016, ConsenSys is working on more partnerships in the region after signing the MoU with Tribe. The team is focusing on expertise sharing of blockchains especially Ethereum to push the next startup generations and advance the technology further.

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