JTC, a government agency under Singapore’s Ministry of Trade and Industry, has teamed with Wanxiang Blockchain, a China-based blockchain nonprofit research institution, to test new use cases for emerging technologies.
These new real-world applications will revolve around blockchain, IoT, artificial intelligence (AI), 5G and more at JTC’s Punggol Digital District in Singapore.
Vibrant digital economy
The partners cite blockchain as a closely watched technology that is playing an increasingly vital role in developing a vibrant digital economy and, eventually, building a “well-functioning” smart city.
For instance, they report the use of blockchain technology will help with “thorough and effective” 3D city planning, enabling a forward-looking digital city by integrating the physical world, data and communication infrastructure.
According to Wanxiang, alongside IoT, AI, and other adjacent technologies, blockchain will also help establish an advanced energy, governance and distributed commerce infrastructure that enables smart administration, meet carbon neutrality objectives, and foster a vibrant urban economy.
More importantly, blockchain innovation and the distributed logic it represents will help smart cities to develop resilience in a world of climate change and pandemics, the research body claims.
Leveraging its technological capabilities and business resources, Wanxiang Blockchain has stepped up in-depth, all-round cooperation with partners in Singapore.
It has worked with the Infocomm Media Development Authority (IMDA) to co-develop blockchain-based financial solutions for cross-border trade and finance and has managed to deploy its Supply Chain Finance Platform onto TradeTrust.
Wanxiang said it is committed to sharing its experience with blockchain technology with local partners in Singapore, joining forces to develop blockchain-based solutions for digital cities, cross-border trade, and supply chain finance.
Wanxiang shares JTC’s vision to develop Punggol Digital District as Asia’s smart district and epicentre for the growing digital sectors in the region. With an ecosystem of government agencies, academia and industry experts, JTC reckons the district can be a hotbed for digital talent and skills development and will create new opportunities for the digital economy as well as sought-after digital economy jobs.
Partnerships with local start-up accelerators in Singapore will be developed for the Punggol Digital District blockchain maker space and incubator programme to support and help students as well as early-stage startups to address data privacy issues and strengthen their capabilities in data management.
In addition, in partnership with local training provider AGB Education Centre in Singapore, a skills training programme will be launched focusing on developing the skillsets of mid-career professionals and offering certification in areas such as blockchain, cybersecurity, robotic process automation, digital marketing, and emerging technologies like 5G, AI and cloud computing.
(Except for the headline, this story has not been edited by The Technology Express staff and is published from a syndicated feed)
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