BMW, Intel, Neilson, and Tribe, a Singapore government-backed accelerator collaborated find innovation tech solutions to the growing demand of the blockchain space.
The growing popularity of the blockchain industry created mergers, acquisitions, partnerships, and collaborations between industry players to secure better and profitable solutions. Giant corporations also joined the rush to capitalize the high demand.
The recent announcement by Tribe was made on Friday. According to the company, the collaboration will share their vast experience and expertise in their respective fields as they plan to develop an inclusive ecosystem.
In the collaboration, BMW's Asia branch is tasked to mentor the group on implementing blockchain based solutions in mass markets. According to Carsten Sapia, Vice President of the IT of BMW Asia, the company hopes to help various start-ups in developing their proofs-of-concept and step on the next level of their development.
Intel's obligation includes mentoring the start-up on business and technical fronts. Michael Reed, the director of blockchain division of the company, said that the products of Intel like Xeon Scalable processors and Intel SGX will help start-ups improve privacy, security, and scalability while developing blockchain solutions.
Neilson, a New York-based firm, will facilitate a safe and controlled environment for testing the new technologies, speeding of adaptations of the solutions developed by the collaboration through a sandbox.
There are other mergers that involve big corporation and government-backed entities in the past. IBM, an American technology behemoth, announced earlier this year that they made a deal with governments of nations like Australia, Canada, Argentina, and a few African Nations as they aim to develop blockchain solutions for many government solutions. The company also develops a blockchain-based platform that will combat the evil of counterfeit medicine supply in African nations.
The development of blockchain is fast growing as Major companies like Facebook, Microsoft, JPMorgan, and many others have all joined the space bringing with them huge investments. Funds provided by the big companies boosted the research and development on the platform as they discover the latent potentials of the technology. The technology vastly evolved from being an underlying platform for cryptocurrencies to becoming the most sought after technology of the 21st Century.
Blockchain plays a big role in emerging markets like Singapore as they develop. The emerging markets provide companies with advanced market research and relevant infrastructure the chance to redefine their market growth as they make the platform accessible for the public.
