Blockchain incubator programme launches in Singapore

A crypto-currency wallet that works with smart contracts, a digital marketplace to trade renewable energy certificates and an online protocol that uses biometrics to authenticate identities are some of the projects selected for an incubator programme launched yesterday.

Called LongHash Hatch, the 12-week programme aims to turn five blockchain projects into minimum viable products for testing in the market. It was launched by LongHash, an international blockchain incubator with offices in Singapore, Hong Kong and Tokyo, among others. The programme is supported by Enterprise Singapore.

The five projects for the inaugural batch were selected based on market review, the business model team's background and industry experience and technical expertise, according to a media release.

They were picked from 50 entries in the one month that LongHash was recruiting, a spokesman said.

Selected projects would receive support in areas such as fund raising, branding and administration, the spokesman added.

Enterprise Singapore's director of new industries Yeo Meow Ling said that blockchain "is an emerging technology that can potentially benefit many industries with its application".

LongHash Singapore's chief executive Emma Cui said the Republic's friendly regulations, generous government support and the vibrant blockchain community were conducive for growing projects.

"We expect to see Singapore playing a pivotal role in shaping the global blockchain technology landscape and in leading mass adoption of distribution technology," Ms Cui said.

LongHash expects to incubate up to 30 projects in two years. It also wants to attract some of its leading blockchain projects to set up regional offices here.



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