Source: Blockchain Association of Singapore
Today, the Blockchain Association Singapore (“BAS”) announced its official launch.
The newly merged BAS will be the nerve centre that spurs engagements and collaborations through the use of blockchain and scalable technologies to drive business growth, and transformation, and to build a sustainable pipeline of blockchain talents for the digital economy.
BAS is a merger of two blockchain associations - Singapore Blockchain Association (“SBA”) and the Blockchain, Enterprise and Scalable Technologies (“BEST”), both founded in 2018. With a shared purpose of enabling the digital economy through the convergence of technologies, both associations see blockchain being at the center of scalable technologies and playing a key role in building a digital economy.
The merger will allow a more effective use of resources and a wider geographical reach in fostering a collaborative and transparent approach to promote best practices within the industry. BAS will be co-chaired by two industry veterans Mr Chia Hock Lai, former Chairman of SBA who currently serves as the President of Singapore Fintech Association (SFA), and Ms Tan Bin Ru, former Chairwoman of BEST and current CEO (APAC & UAE) of New York Stock Exchange listed OneConnect Financial Technology.
The co-chairs will bring immense value to the newly formed association through their expertise and professional capacity. With Mr Chia’s extensive experience in building the fintech ecosystem locally and internationally, as well as OneConnect’s technology capabilities and know-how in
enabling digital transformation for financial institutions, both chairpersons will play a crucial role in driving innovations and impact for the blockchain industry across the globe including the United States, Europe, China and Southeast Asia region.
Singapore’s enterprise-friendly environment and forward-looking position towards emerging technologies like blockchain, has led it to become a leading global blockchain hub today. According to a Gartner’s report on blockchain technology last year, blockchain technology will create more than USD176 billion dollars’ worth of business value by 2025 and USD3.1 trillion by 2030 worldwide. With the launch of BAS, companies operating in or entering into Singapore will find it easier to leverage blockchain and other scalable technologies to grow and transform their business.
Speaking on the launch, Mr Chia said, “Singapore has become a burgeoning hub for blockchain and there is a need for an industry push to facilitate and encourage the development of new and existing players in this space. I am confident that the establishment of Blockchain Association Singapore will add more vibrancy and support to the current ecosystem while providing guidance for enterprises who are keen to adopt blockchain solutions.”
Ms Tan added, “I am pleased to be a part of the Blockchain Association Singapore to advocate the impact of the disruptive emerging technologies like blockchain and the value that transformation could bring to a business. Firms today will need to stay nimble and find new, effective ways to enhance their business - blockchain is one of the technologies that can create tremendous value. With this in mind, we will stay committed to advancing blockchain and scalable technologies for our members and international partners.”
Nurturing a pipeline of talents for the digital economy through industry-relevant training
As part of BAS’ goal is to promote blockchain literacy and build a strong talent pipeline for the digital economy, BAS has partnered with Singapore Polytechnic to support working adults and mid-career switchers in acquiring new skills so as to enhance their employability. This is also in line with the Singapore government’s recent announcement of a new SkillsFuture Mid-Career Support Package to help mid-career workers stay employable and move to new jobs or roles.
For example, under the Professional Conversion Programme (PCP), BAS together with NTUC and Singapore Polytechnic will run a six-month course designed to equip mid-career switchers with the necessary skills to become blockchain application junior developers. The course comprises up to 300 hours of facilitated classroom training and up to 660 hours of structured on-job-training.
BAS will also be rolling out a series of six-week courses on blockchain technology for business executives and working professionals.