IOST Strengthens Strategic Government Ties In Singapore with IMDA Partnership

IOS Foundation
Aug 20 · 3 min read

Earlier this month, the IOST Foundation released our Back To The Moon Plan which proposes numerous upgrades to the IOST Mainnet. With this in mind, one of the key areas of upgrade is to develop cross-chain interoperability solutions that can allow stable transfers of assets and values from other blockchains to IOST.

This will benefit IOST and our entire ecosystem if we are able to drive net inflows of digital assets with tangible and real value from other blockchains can be seamlessly brought over to exist as assets on IOST.


IOST Forges Innovation Partnership With IMDA, The Government Body Regulating Infocomm and Media In Singapore

It has always been the Foundation’s policy to work closely with government agencies and regulatory bodies to develop real-world solutions and intellectual property that drives technological innovation.

In Singapore, IOST has been working closely with the Infocomm Media Development Authority (IMDA) to leverage their network in developing a seamless data bridge for IOST where information, transactions and asset values can be easily transferred between IOST and Ethereum. This interoperability solution is expected to expand to other blockchains such as EOS, Stellar, Tron and more in the next phase of development.

We are happy to share that this will be done via the Open Innovation Platform (OIP), which is oversee and backed by IMDA, that connects directly with of over 3,000 top-quality problem solver teams.

For this Innovation Call, IMDA supports IOST and other top global MNCs such as Nippon Koei, Infineon Technologies and YCH Group in developing progressive, cutting edge technology. Other notable global firms in past Innovation Calls include BMW, Ubisoft, Singapore Airlines, DHL, Sompo Insurance and Procter and Gamble.

This Open Innovation Platform is powered by KPMG Digital Village, which is also working closely with the IOST Foundation in advancing the development of blockchain technology.


Close Collaboration with Enterprise Singapore To Develop Blockchain Ecosystem Continues

Earlier this year, IOST had announced our partnership with Enterprise Singapore via Hashed Venture Labs, a blockchain incubator backed by IOST.

Enterprise Singapore is the government agency championing enterprise development and supports the growth of Singapore as a hub for global trading and innovative tech startups.

The collaboration has extended to Enterprise Singapore’s flagship Slingshot 2019 Competition where Head of International Development, Lawrence Lim, also the MD of Hashed Venture Labs, sits as a competition judge alongside senior executives from Google, Amazon Web Services, PayPal, Microsoft, BP, ConocoPhilips, CapGemini, General Electric, GlaxoSmithKline, Unilever, and other MNCs.

SlingShot 2019 Global Launch

In addition, the Foundation is happy to share that we have successfully built a strong pipeline of determined, enthusiastic blockchain founders whom we are excited to work closely with to support.

The first startup from Hashed Venture Labs has successfully received the Startup SG Founder Grant from Enterprise Singapore, and we are looking forward to supporting more successful applicants. Together with Enterprise Singapore, we are excited to on-board high potential blockchain startups that can add value to the IOST ecosystem and at the same time, cement Singapore’s position as the leading global blockchain hub.


Join the IOST Community!

Since less than two month after the launch of mainnet, IOST has officially become one of the Big 4 Public Chains for DApps alongside Ethereum, EOS and Tron. IOST has already surpassed Ethereum in the number of transactions made on the network. IOST will continue work hand in hand with developers and our community to build the world’s first scalable AND decentralized blockchain project, with a vision of on-boarding over 100 million users by 2019.

If you would like to hang out with the IOST community on chat, social media or to discuss product development, we have something for everyone:

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The Internet of Services Foundation Official Medium Publication

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