AI and Blokchain technology are continued to evolve in a market. An investment firm called Temasek from Singapore is all set to explore Blockchain by setting up a new group named as “experimental pods”.
Temasek’s new announcement first appeared on October 1st at the Memo show when a spokesperson of the firm confirmed the content. In a recent report, Temasek sees Blockchain and AI as the most compelling technologies that will have a long-term impact on multiple industries. The new group will be led by Chia Song Hwee who is the present chief operating officer of Temasek International Pte.
Blockchain With AI is on Rise
Temasek based out in Singapore is known as the leading AI startup in the world. In the year 2018 alone, it has participated in an array of funding rounds; In April for Series C funding round for China’s Sense Time Group, in June for London-based Eigen Technologies. Additionally, in the space of blockchain, the Temasek has invested in R3, a technology that helps bank bring blockchain into real-time operation. It is a government-owned entity, established in 1974. Today, this stated owned investment firm stands with a net portfolio of $308 billion. The company serves a wide range of solutions to industries like telecommunications, financial, media, and technology, agribusiness, transportation, life science, real estate, energy and more.
A spokesperson noted;
“We have been expanding our business coverage and geographic footprint over the past few years,” adding, “As our operating environment evolves, our focus is on remaining nimble and well-positioned to capture opportunities that deliver sustainable value over the long term.”
Besides, the firm is on market rise by launching new features and partnering with key market players. It has recently tied up with the Singapore Stock Exchange ( SGX) to launch a security token offering (STO), named iSTOX. Beyond listing ICO tokens or cryptocurrencies, iSTOX will only facilitate fiat transactions for the tokenization transaction sales”.
The memo reads;
As the investment landscape becomes more competitive and complex, we are now seeing more situations where we would benefit from collaboration and specialized capabilities wider than our traditional sector and market team approach,