{"id":1086,"date":"2023-03-13T09:06:00","date_gmt":"2023-03-13T09:06:00","guid":{"rendered":"https:\/\/opencompanysingapore.com\/singapore-to-launch-new-blockchain-marketplace\/"},"modified":"2023-07-11T08:20:19","modified_gmt":"2023-07-11T08:20:19","slug":"singapore-to-launch-new-blockchain-marketplace","status":"publish","type":"post","link":"https:\/\/opencompanysingapore.com\/singapore-to-launch-new-blockchain-marketplace\/","title":{"rendered":"Singapore to Launch New Blockchain Marketplace"},"content":{"rendered":"\n<p><strong>Blockchain technology<\/strong>&nbsp;is increasing in popularity&nbsp;<strong>in Singapore<\/strong>, as the Information Communications and Media Development Authority has announced the&nbsp;<strong>creation of a marketplace<\/strong>&nbsp;<strong>based on&nbsp;<a href=\"https:\/\/www.opencompanysingapore.com\/open-a-fintech-company-in-singapore\" target=\"_blank\" rel=\"noreferrer noopener\">blockchain technology<\/a><\/strong>&nbsp;at the beginning of April. The project will be enabled in collaboration with the Data Innovation and Protection Agency in the city-state.<\/p>\n\n\n\n<p>Our&nbsp;<strong><a href=\"https:\/\/www.opencompanysingapore.com\/about-us\" target=\"_blank\" rel=\"noreferrer noopener\">company formation agents in Singapore<\/a><\/strong>&nbsp;can help investors who want to&nbsp;<strong>set up businesses in the innovation sector<\/strong>.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #002e5b;color:#002e5b\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #002e5b;color:#002e5b\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/opencompanysingapore.com\/singapore-to-launch-new-blockchain-marketplace\/#a-new-transaction-model-for-singapore-companies-is-underway\" title=\"A new transaction model for Singapore companies is underway\">A new transaction model for Singapore companies is underway<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/opencompanysingapore.com\/singapore-to-launch-new-blockchain-marketplace\/#the-marketplace-will-address-several-industries\" title=\"The marketplace will address several industries\">The marketplace will address several industries<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"a-new-transaction-model-for-singapore-companies-is-underway\"><\/span><strong>A new transaction model for Singapore companies is underway<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The&nbsp;<strong>marketplace<\/strong>&nbsp;will enable&nbsp;<strong><a href=\"https:\/\/www.opencompanysingapore.com\/general-guide-to-company-incorporation-singapore\" target=\"_blank\" rel=\"noreferrer noopener\">Singapore companies<\/a><\/strong>&nbsp;and consumers to complete transactions related to various types of data and services. The great advantage of the new project will be the blockchain technology which will be used to decentralize the data and services and will also guarantee the following to the participants:<\/p>\n\n\n\n<ul>\n<li>&#8211; total control over the data they share with each other and their clients;<\/li>\n\n\n\n<li>&#8211; transparency for clients who share their personal information with service providers;<\/li>\n\n\n\n<li>&#8211; compliance with the regulations and norms imposed by the upcoming platform;<\/li>\n\n\n\n<li>&#8211; security which is very important for both services providers and customers, but also for third-party users.<\/li>\n<\/ul>\n\n\n\n<p><strong>The marketplace will operate as an&nbsp;<a href=\"https:\/\/www.opencompanysingapore.com\/registration-with-the-singapore-stock-market\">exchange platform<\/a><\/strong>&nbsp;which will be called Ocean. The principle under which Ocean will operate is based on data providers to put it on the platform which will transform it into an asset which cannot be copied or altered. The owner will have total control over the information and will be able to grant access to third-party users only if they want to.<\/p>\n\n\n\n<p>You can rely on our&nbsp;<strong><a href=\"https:\/\/www.opencompanysingapore.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Singapore company formation specialists<\/a><\/strong>&nbsp;if you are interested in&nbsp;<strong>setting up a business in the information technology sector<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"the-marketplace-will-address-several-industries\"><\/span><strong>The marketplace will address several industries<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>After the announcement, players from&nbsp;<strong>six&nbsp;<a href=\"https:\/\/www.opencompanysingapore.com\/most-attractive-investment-industries-in-singapore\" target=\"_blank\" rel=\"noreferrer noopener\">large industries in Singapore<\/a><\/strong>&nbsp;have announced their interest in the new marketplace. The first to test the Ocean Platform will be a&nbsp;<strong>large healthcare company<\/strong>&nbsp;which will capitalize at the beginning of 2019, at the latest.<\/p>\n\n\n\n<p>The government also plans to&nbsp;<strong>set up a program dedicated to supporting&nbsp;<a href=\"https:\/\/www.opencompanysingapore.com\/types-of-companies-in-singapore\" target=\"_blank\" rel=\"noreferrer noopener\">Singapore companies<\/a><\/strong>&nbsp;seeking to transform the data they own into assets without endangering the providers of the information.<\/p>\n\n\n\n<p>It is highly possible in the near future for the government to&nbsp;<strong>create a national marketplace<\/strong>&nbsp;based on the same decentralized blockchain technology.<\/p>\n\n\n\n<p>If you are interested in&nbsp;<strong>exploring blockchain technology by starting a business<\/strong>, please&nbsp;<strong><a href=\"https:\/\/www.opencompanysingapore.com\/contact\" target=\"_blank\" rel=\"noreferrer noopener\">contact our company formation advisors in Singapore<\/a><\/strong>&nbsp;for help.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blockchain technology&nbsp;is increasing in popularity&nbsp;in Singapore, as the Information Communications and Media Development Authority has announced the&nbsp;creation of a marketplace&nbsp;based on&nbsp;blockchain technology&nbsp;at the beginning of April. The project will be enabled in collaboration with the Data Innovation and Protection Agency in the city-state. Our&nbsp;company formation agents in Singapore&nbsp;can help investors who want to&nbsp;set up businesses [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1102,9,37,8,1101],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Singapore to Launch New Blockchain Marketplace<\/title>\n<meta name=\"description\" content=\"Find here information on the new blockchain market which will be launched at the beginning of 2019 in Singapore. Please contact us if you need Singapore company formation services.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/opencompanysingapore.com\/singapore-to-launch-new-blockchain-marketplace\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Singapore to Launch New Blockchain Marketplace\" \/>\n<meta property=\"og:description\" content=\"Find here information on the new blockchain market which will be launched at the beginning of 2019 in Singapore. 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