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WeBank will promote DLT innovation at the universities in Singapore

May 18, 2020

China’s leading digital bank WeBank worked with OpenNodes, a DLT (Distributed Ledger Technology) technology platform from Infocomm Media Development Authority from Singapore.

With the new collaboration WeBank offers scientists in Singapore a blockchain platform “FISCO BCOS” for innovation and development.

The initiative is looking for offer the blockchain platform as an “innovation field” pFor Singapore student communities to accelerate DLT development.

WeBank will promote DLT innovation at the universities in Singapore
WeBank will promote DLT innovation at the universities in Singapore

All innovations that are part of the “FISCO BCOS” initiative are a prerequisite for participation in the program They are available as open source.

The program is waiting stimulate research in blockchain applications for the supply chain and the financial sector.

WeBank will support the development of DLT in Singapore

Students from the Singapore University of Technology and Design, the Nanyang University of Technology and the Singapore Administration University are expected to participate in the construction with the “FISCO BCOS” platform.

“We want to encourage next generation talent to use blockchain to develop viable solutions for the general public,” said Henry Ma, WeBank’s executive vice president and chief IT officer.

WeBank and OpenNodes Organize workshops and hackathons to raise awareness and commitment to the platform and support the development of the initiative.

“Providing this open source technology as a development area will also help us strengthen the stack of our technologies in this process while providing better products and services to the general public,” he added.

The WeBank will integrate DAML into FISCO BCOS

“FISCO BCOS” is an open source blockchain platform developed by the Shenzhen Blockchain Financial Consortium (FISCO) non-profit to promote DLT research and innovation through collaboration.

Platform development counted with contributions from the 20 largest Chinese fintech companies and it was founded in 2016 before it was open source the following year. FISCO’s membership has grown to over 100 since its inception, including the leading companies Tencent, Huawei and WeBank.

Last month, WeBank announced its integration the intelligent contract language for digital assets from DAML with the FISCO BCOS platform.

The FISCO BCOS platform was used as an open source basis The China Blockchain Service Network was developed from this.