Major firms team up with Singapore-backed blockchain accelerator

Major firms team up with Singapore-backed blockchain accelerator

Tribe, a Singapore government-backed blockchain accelerator, has partnered with three major companies to help support the country’s nascent blockchain sector.

As reported by industry website Coindesk, Tribe Accelerator announced on Friday that BMW Group Asia, Intel and Nielsen had become its corporate partners. The companies will be helping Tribe’s efforts to build an “inclusive” ecosystem “ready for industry 4.0” by sharing their knowledge in their respective fields with the accelerator’s start-ups.

Each of the companies in question has specific ideas on how it can contribute to the development of Singapore’s blockchain industry. BMW Group Asia’s, for example, will be educating start-ups on how blockchain solutions can be implemented in a mass market situation.

“We hope we can help each of these startups develop their proof-of-concepts and reach the next stage of their development,” Carsten Sapia, vice president – group IT and head of the Asia Pacific region, BMW Group Asia, said, as quoted by Coindesk.

Meanwhile, Intel Corporation will focus on mentoring start-ups on the business and technical sides of the industry, with Intel’s blockchain program director Michael Reed hinting that the company’s mentorship might include exploring how blockchain technologies could benefit from certain Intel technologies.

Lastly, Nielsen intends to provide “a sandbox with the objective of providing participants with a safe, controlled environment to test new technologies and accelerate the adoption of their solutions”, according to Coindesk.

In the announcement Tribe’s managing partner Ryan Chew touched upon how efforts like these could benefit the broader blockchain industry in the long run.

“To move forward as a society, we need to encourage experimentation, and once the benefits of blockchain technology become evident, mainstream adoption will undoubtedly follow,” Chew said.

Earlier this year, Tribe teamed up with Ethereum development outfit ConsenSys, with that partnership also aimed at bolstering the blockchain ecosystem in Singapore.