The live test-bed will cover new use-cases for emerging UrbanTech like blockchain, IoT, AI, 5G and more at JTC’s Punggol Digital District in Singapore.
China-based Wanxiang Blockchain today announced that it has partnered with JTC – a government agency under Singapore’s Ministry of Trade and Industry, to launch a new UrbanTech testbed in Singapore’s Punggol Digital District.
The live test-bed will cover new use-cases for emerging UrbanTech like blockchain, IoT, AI, 5G and more at JTC’s Punggol Digital District in Singapore.
Wanxiang Blockchain is a Blockchain Technology Pioneer
Wanxiang Blockchain has already launched and partnered with over 200 UrbanTech projects globally. It intends to build a vibrant blockchain ecosystem with investment and entrepreneurship empowerment, and by providing technology and innovative solutions. It aims to promote the continued development and industry applications of blockchain. Its paid-in investments in blockchain have exceeded 1 billion RMB to date.
Wanxiang Blockchain in Singapore
Singapore is one of the early adopters of blockchain technology in the world. In 2018, Consulting firm PWC found in a study that 82% of the surveyed executives in Singapore reported blockchain initiatives underway.
Wanxiang Blockchain has stepped up in-depth, all-round cooperation with partners in Singapore – offering its technological capabilities and business resources. It has worked with the Infocomm Media Development Authority (“IMDA”) to co-develop blockchain-based financial solutions for cross-border trade and finance, and has managed to deploy its Supply Chain Finance Platform onto TradeTrust.
“Wanxiang Blockchain is committed to sharing its experience with blockchain technology with local partners in Singapore, joining forces to develop blockchain-based solutions for digital cities, cross-border trade, supply chain finance, etc.,” it stated.
Punggol Digital District (PDD)
Punggol Digital District (PDD) brings together the Singapore Institute of Technology (SIT)’s campus and JTC’s Business Park spaces within Punggol North to create Singapore’s first truly smart district. PDD will not just house the key growth industries of the digital economy like cybersecurity and digital technology, but will also be an inclusive and green lifestyle destination for the surrounding community.
It is envisioned to be:
- A community playground and green heart for all residents of Punggol
- A car-lite precinct that allows everyone to travel with ease
- A vibrant economic and learning hub
- A pilot Enterprise District, with shared spaces between industry and academia
Punggol Digital District is designed specifically to let industry and academia intermingle through the sharing of each other’s work spaces and facilities. This physical integration facilitates the cross-fertilization of ideas and nurtures collaboration in key emerging technologies.
Wanxiang Blockchain will be expanding their operations in Singapore. Grouped under “The Digital Lab” by Wanxiang, it is committed to building a strong talent pipeline for the digital community to leverage on. For example, partnerships with local start-up accelerators in Singapore will be developed for the Punggol Digital District Blockchain Makerspace and Incubator Programme to support and help students as well as early-stage startups to address data privacy issues and strengthen capabilities in data management.
Additionaly, in partnership with local training provider AGB Education Centre in Singapore, a skills training programme named “Punggol Digital District Digital Skills 4.0” will be launched that will focus on developing the skillsets of mid-career professionals and offer certifications in areas such as blockchain, cybersecurity, robotic process automation, digital marketing, and emerging technologies like 5G, AI and cloud computing.
“Wanxiang shares JTC’s vision to develop Punggol Digital District as Asia’s smart district and epicentre for the growing digital sectors in the region. With an ecosystem of government agencies, academia and industry experts, the district can be a hotbed for digital talent and skills development and will create new opportunities for the digital economy as well as sought-after digital economy jobs,” it stated.
Wanxiang Blockchain believes that as a living lab for test-bedding of technological innovation and smart living, there is much potential for the cross-pollination of ideas between JTC’s Punggol Digital District project and Wanxiang’s various Smart City projects in China.
Wanxiang Blockchain said that there will be more opportunities for Wanxiang to gradually expand its business in Singapore, facilitating the exchange of intellectual and human capital between the two countries.