BAS joins JTC's Punggol Digital District, announces partnership to drive development of blockchain ecosystem in Singapore

This partnership will see both parties collaborate to elevate the local blockchain ecosystem through the development of an ecosystem of blockchain professionals,students,and companies in the JTC Punggol Digital District

SINGAPORE,May 31,2022 --Blockchain Association Singapore (BAS) and statutory board JTC today announced a partnership through the signing of a Memorandum of Understanding (MOU). Under the MOU,both parties will collaborate to co-develop and cultivate a digital ecosystem of blockchain professionals,individuals,and companies at the Punggol Digital District (PDD).

Both parties will also leverage on each other's networks to advance industry understanding and know-how,while connecting people,ideas,and business,and promoting industry excellence through a community-centric model with the goal of developing the PDD into a regional hub for blockchain excellence.

Commenting on the partnership,Mr Chia Hock Lai,Co-Chairman of BAS said: "We are excited to collaborate with JTC on this initiative,which we feel will be beneficial for both our members and the local blockchain ecosystem as a whole. Through leveraging each other's networks,we believe that we can further elevate and foster a robust local blockchain ecosystem. Although blockchain technology still is relatively nascent,we are confident that we will be able to drive the development and eventually adoption of blockchain technology within the region."

BAS was established to facilitate collaboration between market participants and stakeholders within the regional and international blockchain ecosystem. The association aims to be an effective platform for members to engage with various stakeholders to find solutions to issues,while promoting best practices in a collaborative,open,and transparent manner.

PDD is the cornerstone of Singapore's Smart Nation ambitions where new technologies and an ecosystem of key growth sectors of the digital economy are sited. On BAS being the latest player in the PDD,Alvin Tan,Assistant CEO of JTC's Industry Cluster Group,said,"BAS's entrance into the PDD community is a timely one with more companies realising the value of blockchain as they embark on their digitalisation plans. Leading up to the district's completion,we are excited to work with BAS to promote knowledge sharing and use of blockchain through different platforms such as workshops and conferences. Come 2024,these activities will be anchored in PDD to co-create a vibrant blockchain ecosystem in the district. With the co-location of businesses,associations and Singapore Institute of Technology in PDD,students will have opportunities for applied learning in blockchain,while businesses will have access to industry-ready talent in close proximity."

The partnership between BAS and the JTC will serve as a conduit for the development of the blockchain ecosystem,as well as enhancing the synergy between individuals,organisations,and stakeholders through ideas and businesses.

About Blockchain Association Singapore

The Blockchain Association Singapore (BAS) seeks to empower its members and the community to leverage blockchain and scalable technologies for business growth and transformation.

The Association is designed to be an effective platform for members to engage with multiple stakeholders – both regional and international – to discover solutions and promote best practices in a collaborative,and transparent manner. It aims to promote blockchain literacy and build a strong talent pipeline for the digital economy in Singapore.

For more information,please visit: https://singaporeblockchain.org

About Jurong Town Corporation (JTC)

JTC's mission is to develop industrial infrastructure that supports the growth of new industries and transforms enterprises in Singapore.

For more information,please visit: https://www.jtc.gov.sg/