Singapore-Based Blockchain Accelerator Partners With BMW & Intel

One government-backed blockchain accelerator from Singapore named Tribe is in today’s crypto news – mainly for gaining two new and big strategic partners in its line up. We are talking about the car manufacturer BMW and the tech giant Intel, which are its new partners as of recently.

The news went viral after the local English language tech news outlet Tech In Asia reported about the partnership (March 22) – describing Tribe as a “product-centric program for blockchain startups that aims to connect its participants with corporate partners.”

The partnership is also supported by Enterprise Singapore which is a government agency responsible for developing the startup ecosystem within the country – as well as the accounting giant PricewaterhouseCoopers’ Singapore Digital Hub and the South Korean blockchain network Icon Foundation.

Both BMW and Intel are expected to provide expertise to the startups that are selected for support. While the car manufacturer will obviously focus on the mobility industry, Intel will share knowledge gained through its activities in the world of blockchain and crypto mining sectors.

Another partner is the data management giant Nielsen which has joined to provide a form of a sandbox focusing on regulatory compliance risks as well as other necessary considerations when setting up a project of this caliber – a blockchain product for market.

Nielsen is setting up a sandbox that will allow Tribe participants to “gain firsthand appreciation of inherent business risks, understand regulatory environments in which their prospective clients operate, and fine-tune their business models,” the accelerator said in an official statement.

What’s interesting is the fact that this move comes in the midst of blockchain-related phenomenon in Singapore’s regulatory environment – where the lawmakers and regulators appear to be accommodating to the technology.

In the long run, Singapore plans to integrate the blockchain shipping initiative TradeTrust  which has recently piloted – as well as the central bank’s (very own) Project Ubin payments project which is set to deliver its first results in 2020.

Previously, Singapore’s Tribe Accelerator has partnered with ConsenSys by signing a Memorandum of Understanding (MOU) with a goal to undertake different initiatives and activities to further the blockchain ecosystem in Singapore.