More

    Tribe Accelerator, Supported by Singaporean Govt, Allocates $16 Million for Blockchain Startups

    Tribe Accelerator was supported by the government of Singapore via Enterprise Singapore and they are in the news once again. Tribe was able to successfully raise an extra $16 million (21.5 million Singapore dollars). The fund is for blockchain startups that have been seen as active.

    Brilliant Moves

    The funds specifically are for a set of 9 startups from several locations all over the globe. An announcement released on Monday also described these startups as those that are working on solutions. These are solutions are to tackle real-world problems by making use of blockchain technology.

    The startups in this regard are Bluzelle, Affle, Torus, Eximchain, Pilab, Aqilliz, AID:Tech, Dimuto, and WhiteCoat. All these startups are related to areas and sectors like social welfare, Issues in data privacy, and in digital retail, cybersecurity, supply chain, and healthcare services.

    Aqilliz is a platform that focuses on hybrid advertising and customer loyalty services while Bluzelle is a distributed open-source database service. Then there is Pilab which is responsible for the building of software for the communication and management of data on various networks.

    AID:Tech has also been able to work on solutions for aid, social welfare and donations that have been processed using the blockchain technology. Affle on its own is carving its niche as a consumer advertising startup. All these are very active ventures that are believed to perform even better when the proper level of funding is achieved. That is the primary decision behind the support that the government of Singapore is giving via Tribe.

    Active Firms Working on Solutions

    A good example in this regard is AID:Tech which offers a comprehensive decentralized digital ID protocol. On the other hand, WhiteCoat which offers healthcare services through their blockchain-dependent application. Its purpose is to improve patient identities and reduce the leaks of medical records when there are attacks. All these details were also made public in the release.

    Ng Yi Ming is the managing partner of Tribe Accelerator and he said that one of their aims is to advocate for the inclusion of blockchain at the level of countries like Singapore. Singapore is aggressively pursuing its Smart Nation ambition and what Tribe Accelerator is doing is assisting such countries to achieve their national objectives.

    He also clarified further talking about Mighty Jaxx which is one of the participating ventures from the first set. This venture is already working with OpenCerts which is a public venture in Singapore too. This partnership allows for the issue and validation of tamper-resistant digital certificates.

    As for the first set of startups, the same program was able to accumulate almost 17 million Singapore dollars (around $12.3 million) in the spring of this year. So with this latest round of funding that a total of about at just over Thirty-Eight million dollars (which translates to around $28 million). Tribe was established in December 2018 and has made swift progress. Of recent, it struck partnership deals with big ventures. These are really solid brands and they include Intel, BMW Group Asia, Citi Bank, Nielsen, and others.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Ali Raza
    Ali Raza
    A freelance journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali's work has been published on a number of cryptocurrency publications.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,262FansLike
    2,708FollowersFollow
    4,080FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Chrysler Building's Blockchain Real Estate Owners To Sell Building In Zurich, $135M Cash & ERC20

    The current owner of the Chrysler building is offloading a property valued at around $135 million to a blockchain-based real estate firm. It’s expected...

    Crypto Wallet BRD Expands Core Business, Launches Enterprise Blockchain Service ‘Blockset'

    BRD, a Mobile crypto wallet services provider backed by Ripple as well as SBI Holding, has announced it is expanding to the enterprise sector...

    Ripple: Asia-Pacific Remittance Market Seeing Growing Demand And is Ripe for Digitalization

    APAC digital transfer and remittance market expected to grow by 24.2% from 2018 until 2025 But what’s astounding is the expensive services charging...

    Will Russia’s New Prime Minister Help Foster The Adoption Of Cryptocurrencies?

    The Russian Federation Prime Minister has made a call asking his country people to try and prioritize the development of the digital economy. RIA NOVOSTI,...

    Nationwide Survey: One-Third Of Small And Mid-Sized Businesses Accept Crypto Payments

    36% of Small and Medium-sized Business in the US offering Crypto alternatives for payment systems Newer business are more likely to take up...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.