Recently, a consortium of banks in Asia – Singapore-headquartered OCBC Bank, UK-headquartered HSBC Bank and Japan-headquartered Mitsubishi UFJ Financial Group (MUFG) – collaborated with one of Singapore’s government agencies, the Infocomm Media Development Authority (IMDA), to successfully launch Southeast Asia’s first Know-Your-Customer (KYC) blockchain. Interactions between the stakeholders involved were key to the project’s success as shared by Mr. Altona Widjaja, Vice President, Fintech and Innovation Group, OCBC Bank, “The shared KYC Platform is a joint project between OCBC Bank, HSBC and MUFG, together with the Infocomm Media Development Authority (IMDA). Together, the partners defined the vision of the...Read More
Author: Rachel Tan
Innovation leaders in businesses are facing an ever greater threat of disruption in today’s fast-paced world. However, it does not have to be a challenge that they face alone. Recognising the opportunity for companies to benefit from internal and external forces for business transformation, Innovation Enterprise has been conducting the Chief Innovation Officer Summit in Shanghai since 2015 to bring together the best practices in innovation from leading global and Chinese companies. The summit offers a space where participants can come together to learn from and share insights with their peers, with over 100 senior level attendees from large organisations (34%...Read More
FoodTech and AgriTech startups were the key focus of the Future Food Asia Award 2017, offering an opportunity to look into the developing challenges towards the sustainable production of food in Asia as well as globally. Launched by ID Capital, and supported by the Singapore Economic Development Board and American food processing and commodities corporation Archer Daniels Midland Company (NYSE: ADM), the event brought together a community of investors, large corporates, governments, academics and entrepreneurs. Food security is a pressing issue for Asia-Pacific with estimates from the Food and Agriculture Organization of the United Nations suggesting that Asia-Pacific will...Read More
Food security is a key issue in today’s world, especially in Asia, where there’s an expected boom in the middle class, changing consumer patterns as well as increasing scarcity of arable land due to climate change. Future Food Asia is one of the emerging players in innovation for technological developments in agriculture as well as food and launched a startup competition in November 2016 to place itself at the centre of these developments. It is offering a US$100,000 grant for the startup making an significant impact in the food value chain. The competition saw startups from 19 different countries applying and on...Read More
So far, Bitcoin has primarily been used in investment and trading in countries such as China, Japan and South Korea. But the promise of the digital currency is most seen in the developing workd. Indeed, there are huge opportunities to disrupt the remittance market in countries such as India, Indonesia and the Philippines. The remittances market is a $ 600 billion opportunity and is riddled with inefficiencies. Cross-border Payments : Bitcoin’s Opportunity Cross-border payments with Bitcoin are also being considered in the trials and experiments by banks and other financial institutions. e-Commerce has been rising in popularity across Asia but has...Read More
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