BMW And Intel Partner With Singapore Government for Blockchain Accelerator

Tribe Accelerator

The government backed blockchain accelerator program, called Tribe Acceleratorannounced the team work last Friday. The accelerator program said it will be leveraging different technologies and expertise the partner firms’ offer. This will ensure that any startup program Tribe facilitates will have the best of minds helping them grow and be “ready for industry 4.0”

BMW Group Asia, with its expertise of “master classes” will be mentoring startup on how to implement blockchain in a wide manner in mass markets.

“We hope we can help each of these startups develop their proof-of-concepts and reach the next stage of their development,” said Carsten Sapia, who is the Vice President of the IT group and head of Asia Pacific Region for BMW Group Asia.

Intel, as a technical hardware manufacturer, will offer technical expertise along with business support. Intel’s Blockchain Program director, Michael Reed said, “Intel technologies like Intel Xeon Scalable processors and Intel SGX can help improve privacy, security, and scalability of blockchain solutions.”

Nielson will offer its “sandbox with the objective of providing participants with a safe, controlled environment to test new technologies and accelerate the adoption of their solutions.”

Singapore in Focus

The tiny Asian state of Singapore has been heavily investing in blockchain infrastructures. It was one of the major hotbeds for the initial coin offering boom of the last two years. According to an online source, the nation is resident to a staggering 634 blockchain based companies.

Tribe Accelerator has gained a lot of popularity in Singapore recently. The firm, being backed by the government, relies little on stakes in startups. As such the programs it offers are absolutely free and it takes 0 percent equity. With the programs it offers open to the global blockchain community, Tribe Accelerator is a progressive move by the government. The Singapore government has already started using blockchain technology in its stock exchange for settlements.