The Singapore Fintech Affiliation and R3 have entered a partnership to supply startups within the SFA community with entry to R3’s Corda blockchain
The Singapore Fintech Affiliation and R3 have entered a partnership to supply startups within the SFA community with entry to R3’s Corda blockchain.
In an announcement on July 14, the SFA mentioned that startups would obtain assist from R3’s Enterprise Growth program, which gives a gateway into R3’s ecosystem for all pre-series A firms which can be constructing on Corda.
Corda is an open-source enterprise blockchain platform that’s utilized by an increasing community of over 350 individuals who construct distributed purposes (CorDapp) on the platform for a variety of industries, equivalent to monetary companies, insurance coverage and healthcare.
Entry to the Corda blockchain platform is anticipated to supply SFA startups with alternatives to cut back prices, generate new income streams and reshape home and worldwide markets.
The R3 Enterprise Growth Program gives individuals with entry to neighborhood occasions, workshops, mentorship from trade members, in addition to assist with forging relationships with traders.
The SFA has mentioned that its partnership with R3 is a part of the affiliation’s long-term dedication to the city-state’s blockchain ecosystem.
SFA President Mr. Chia Hock Lai mentioned, “Such a collaboration between organizations with the aim of supporting early stage blockchain firms of their enterprise journey is what SFA seeks so as to create a stronger, inclusive FinTech ecosystem.”
Earlier than its collaboration with R3, the SFA had established partnerships with IMDA’s OpenNodes initiative, Tribe Accelerator, F10 and LongHash.
The SFA additionally took half in Singapore Blockchain Week, a government-supported digital blockchain occasion this June that gathered collectively over 5000 individuals.
Corda’s core imaginative and prescient
As reported final fall, there have been claims that R3’s Corda platform — however its robust community of over 350 — has been on the heart of basic disagreements between engineers and the corporate’s senior administration.
Sources alleged that uncertainty relating to R3’s identification — cut up between working as a monetary software program agency and main a extra wide-ranging tech consortium — is likely one of the elements contributing to delays within the product’s design and improvement.
At situation can be reportedly how far the community ought to prioritize interoperability or in any other case take a “maximalist” strategy to driving Corda adoption.