A group of Singaporean government agencies is launching a new research program for blockchain technology with $12 million SGD (about $8.9 million USD) in funding. Called the Singapore Blockchain Innovation Programme (SBIP), the project is a collaboration between Enterprise Singapore, Infocomm Media Development Authority and the National Research Foundation Singapore. It has support from the Monetary Authority of Singapore, the country’s central bank and financial regulator.
SBIP’s funding comes from the National Research Foundation, and will be used to develop, commercialize and encourage the adoption of blockchain technology by companies. The program will first focus on the use of blockchain in trade, logistics and the supply chain.
According to a press release, the program “will engage close to 75 companies” over the next three years. It is already working with Dimuto, a global supply chain platform, to use blockchain technology to trace perishables with the goal…