Singapore is currently one of the first cities to implement the blockchain and blockchain-based trading platform Bitcoin Singapore, and it is looking to be one of Asia’s biggest and fastest-growing blockchain projects by the end of 2020.
The Singaporean Blockchain is aiming to take its business model to other blockchain-related markets such as Indonesia, Philippines, Malaysia and Vietnam.
The blockchain-enabled company has also partnered with a group of Singaporeans and Indonesian businesses to launch an ecommerce store in Indonesia.
The Singaporean blockchain is looking at a number of potential applications in the digital currency space, including digital currency and payments, e-commerce and e-services, ecommerce, and more.
The company said in a statement that its new digital currency platform will enable users to buy goods, including Bitcoin, via e-wallet and ecommerce platforms and exchange services, in Singapore.
The new platform is also the platform of choice for customers to trade in virtual currencies such as Bitcoin, Ether and Litecoin, and they can also use it to pay for goods, services and goods and services in other virtual currencies.
The service, which is now live, will also allow users to create their own digital currencies, with an option to add other virtual currency, such as Litecoin.
Singaporeans and businesses will be able to buy and sell goods, as well as services, through the blockchain platform, with the ability to use their virtual currencies in their own businesses.
Bitcoin and Ether will also be supported.
“It will be possible for Singaporeans to exchange their Bitcoin and Litecoins for the value of the goods and/or services they want to purchase,” the company said.
Singarithi Sihanouk, managing director of the Singaporean Bitcoin Foundation, said the company will be looking to expand its digital currency ecosystem and expand into other markets in the coming years.
He added that Bitcoin and other virtual coin offerings are the future of financial services.
The Bitcoin Foundation is a Singaporean cryptocurrency and blockchain development group.
The group is comprised of leading cryptocurrency developers, aswell as blockchain enthusiasts, and its focus is on promoting the technology to the broader public.
“As the financial system moves towards Bitcoin and Ethereum, we will also work with Singaporean businesses and the broader cryptocurrency community to enable the financial services industry to support this emerging technology, with Bitcoin and/a cryptocurrency being the first to benefit,” he said.
“The Singapore Bitcoin Foundation will continue to be involved in all facets of the bitcoin ecosystem.”
Sihanouk also said the group will soon launch a “satellite” in Indonesia, to offer Bitcoin and ethereum services to the Indonesian market.
The platform will have a focus on the digital asset exchange and will be ready to launch in early 2019.
Singulip Sih, founder of Singapore Bitcoin, said that Bitcoin was already one of Singapore’s fastest-rising digital currencies in terms of adoption, and was growing fast.
The currency is now valued at about $7 billion, and is expected to surpass $10 billion by 2020.
In addition to the Singapore Bitcoin network, Singapore has its own blockchain, with other Singaporean companies participating in it.
The Bitcoin Foundation launched a Singapore Bitcoin wallet in December 2018, which users can use to buy Bitcoin and purchase services from its blockchain.
Singapore is the third country in Asia to offer a Bitcoin wallet, after Hong Kong and Singapore.
In March, Singapore announced plans to launch a blockchain-powered exchange in the Philippines, but no specific dates have been announced.
Singapore’s government is also looking to develop blockchain-as-a-service, which will allow businesses to use its own digital currency to transact.
The country has also established a bitcoin exchange, the Digital Currency Exchange and Trade Promotion Authority (DCEPAT), which is looking for blockchain entrepreneurs to create services in the country.
“The Philippines is one of several markets where we are working with our partner companies to develop a digital currency exchange service,” said Sih.
“As an example, the Philippines Government is looking into creating an exchange platform that is fully compliant with Philippine regulations for Bitcoin and Bitcoin related businesses and services.
Our team will be working closely with the Philippine Government to ensure that this service is fully operational by the early 2020s.”
Singulips Sih said the Bitcoin Foundation aims to support digital currency businesses in the developing world.
The project is looking toward Singapore, Indonesia, Vietnam, and Malaysia, as markets that will offer blockchain-friendly solutions and services, and help businesses gain access to a global digital currency marketplace.
“In the future, we plan to expand to other countries in Asia and Africa, with a view to establishing Singapore as the hub for digital currency exchanges,” Sih added.
“We believe that blockchain technology will become a significant tool for global economic growth in the years ahead, and Singapore is a perfect candidate for this future.”