The Singapore Fintech Association (SFA) and R3 have teamed up to give SFA network startups access to the R3 Corda blockchain.
In an announcement on July 14th SFA said startups would receive support from R3’s risk development program. It provides a gateway to the R3 ecosystem for all previous Series A companies developing in Corda.
Corda is an open source business blockchain platform This is used by a growing network of more than 350 subscribers that is building distributed applications (CorDapp). on the platform for a wide range of industries, including financial services, insurance and healthcare.
It is expected that Access to the blockchain platform gives SFA startups the opportunity to lower their costs, generate new sources of income and redesign national and international markets.
The R3 Business Development Program gives its participants access to Community events, workshops, mentoring of industry members and support in building investor relations.
The fa said his connection with R3 It is part of the association’s long-term commitment to the blockchain ecosystem of city and state.
The President of the SFA, Mr. Chia Hock Lai, said: “This kind of collaboration between organizations with the goal of supporting blockchain companies in their early stages is SFA’s goal to create a stronger and more inclusive FinTech ecosystem.”
Before you work with R3 had the SFA partnerships with the IMDA OpenNodes initiative, Tribe Accelerator, F10 and LongHash.
The SFA also participated in the Singapore Blockchain Week. A government-sponsored blockchain virtual event in June, attended by over 5,000 attendees.
Corda’s central vision
As reported last fall, claims were made that the R3 Corda platform, despite its strong network of more than 350 participants, was at the center of fundamental disagreements between the company’s engineers and management.
Sources claimed that the uncertainty regarding The identity of R3, which is split between working as a financial software company and leading a broader technology consortium, is one of the main factors contributing to product design and development delays.
Also reportedly questioned To what extent should the network prioritize interoperability or take a “maximalist” approach to drive Corda’s mass adoption?