THELOGICALINDIAN - The Singapore cyberbanking industry is hot for fintech and blockchain technology The United Overseas Bank UOB afresh had its accelerator affairs FinLab on August 3 which included accommodating in banking technology solutions and acute affairs as a service
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Singapore Bank Mentors a Blockchain-Based Smart Contract Project
The Singaporean bunch banking alignment UOB captivated its countdown affairs that is focused on the banking sector. Nine startups were selected, including Attores, CardUp, FinMitra, FinReg, Nickel, SsinoConnect, Stock2Day, Tuple, and Turnkey Lender. One accurate activity is a blockchain proof-of-concept by Attores, who’s architecture a belvedere that “simplifies the creation, deployment, and beheading of acute affairs on blockchains.”
The aggregation is alive on a athenaeum of smart contracts and an appliance that secures the self-executed agreements. Recently, the startup has been authoritative headlines in the Singapore advertisement the TheStraightTimes about hot trends in banking. The activity is led by David Moskowitz, CEO Co-Founder who founded the Singaporean Bitcoin barter Coin Republic in 2013. In the UOB accelerator program, the aggregation gets provided with allotment and mentorship. Moskowitz told the Singapore account outlet:
Attores is alive on a proof-of-concept archetypal that is blockchain doubter and could advice accounts institutions advance efficiency. Mentors in the affairs are additionally advising the aggregation on its specific goals and investment strategy.
The startup’s blockchain arrangement is aimed at streamlining barter accounts in adverse to the all-inclusive amounts of paperwork that applies to appurtenances alien and exported. Moskowitz and co-founder Gaurang Torvekar say they acquainted they would “stand out” by actuality a blockchain based aggregation amid all the fintech entrants.
Banks like UOB are awful absorbed in the innovations these startups accept to offer. Other banking institutions complex in R&D programs in Singapore accommodate the Oversea-Chinese Banking Corporation (OCBC) and Infocomm Investments, a development ascendancy subsidiary.
What do you anticipate about the Singapore Banks advance in Fintech and blockchain technology startups? Let us apperceive in the comments below.
Images address of OCB, Attores Websites, Pixabay
