Today Enterprise Singapore (ESG) and the Singapore University of Social Sciences (SUSS) announced the launch of the Blockchain for Trade & Connectivity (BTC) Network. Not to be confused with Bitcoin, the BTC Network enables blockchains to interoperate with each other as well as other technologies such as IoT. Partners in the initiative include China’s Blockchain Based-Service Network (BSN), Global E-Trade Services (GeTS), and public business blockchain VeChain.
The announcement was made on the first day of the Singapore Week of Innovation and TeCHnology (SWITCH),
As Singapore is one of the world’s primary hubs for commodities trading, the network aims to test blockchain solutions with digital trading platforms, supply chain companies, and other technology firms. This is to improve blockchain interoperability with existing networks and systems, integrating networks and technologies all across Asia. The solution will target SMEs.
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