The country has a friendly mood toward cryptocurrencies, so they have a developed crypto-sector. But now, the government wants to increase the level, with a starting of an official research fund. With new support, the state will be backing dozens of companies in the trading, logistic, and supply chain areas. The main goal is the development of real-world use-cases, with blockchain technology. The government will fund them with initially 9 million USD worth of Singapore dollar.
The lawmakers also saw the changing of the whole trading landscape, not just in some business operation processes, due to the pandemic. It’s clear, digitalization will be the right direction, and for trading, it is essential to build a trustful, secure environment for the transactions. The blockchain is the best choice for this task.