Five teams selected for blockchain incubator program launched in Singapore, Business News & Top Stories


SINGAPORE – A cryptocurrency wallet that works with smart contracts, a digital marketplace to trade renewable energy certificates and an online protocol that uses biometrics to authenticate identities – these are some of the projects selected for an incubator program launched on Monday (Jan 7).

Called LongHash Hatch, the 12-week program aims to turn five blockchain projects into the market.

It was launched by LongHash, an international blockchain incubator with offices in Singapore, Hong Kong and Tokyo, among others. The program is supported by Enterprise Singapore.

The five projects for the inaugural batch were selected based on the market review, the business model, the team's background and the industry experience and the technical expertise, said to a media release.

They were selected out of 50 entries in the one month that LongHash was recruiting, a spokesman said. Selected projects would receive support in areas such as fundraising, branding and administration, and added.

Enterprise Singapore's director of new industries Yeo Meow Ling said that the blockchain "is an emerging technology that can potentially benefit many industries with its application".

LongHash Singapore's chief executive Emma Cui said the Republic's friendly regulations, generous government support and the vibrant blockchain community were conducive for growing projects.

"She said." We are waiting to see Singapore playing a pivotal role in shaping the global blockchain technology landscape.

LongHash expects to incubate up to 30 projects in two years. Set up regional offices here.

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