Which Blockchain Startups Are Transforming Singapore?

The rapid growth of technology and industrialisation is driving huge demand around the globe. Singapore has proved itself to be among the top cities for startups with a number of promising well-funded startups. According to a leading business daily, last year the National Institute of Singapore (NUS) announced that it is partnering with IBM to develop a curriculum around blockchain and distributed ledger technology. According to the sources, currently, there are more than 400 blockchain startups in Singapore and in this article, we list down the top 10 blockchain startups. (The list is in alphabetical order)

1| aelf

Founded: 2017 About: The startup is a decentralised self-evolving cloud computing network which provides a highly efficient multi-chain parallel-processing system with cross-chain communication and self-evolving governance in order to establish a blockchain infrastructure for various commercial requirements. The company is envisioned as the “Linux ecosystem for blockchain” defining the most basic, essential and time-consuming components of the system as well as making significant improvements based on the existing blockchains. Founders: Ma Haobo

2| Bluzelle

Founded: 2014 About: Bluzelle is the brainchild of Pavel Bains and Neeraj Murarka when the two optimists realised the opportunities to implement blockchain technology in the financial sector. The startup is initially formed in Vancouver, Canada but was later relocated to Singapore. It has been named as one of the Global Fintech 100 by H2 Ventures. The company successfully built Ripple-based cross-border payments POC for global banking platform Temenos, built Ethereum-based consumer mobile insurance application for global insurer AIA including the Ethereum-based insurance platform for a large Asian insurer, MSIG. The startup has completed its massive $19.5M ICO to build the decentralised database for dApp developers with unprecedented security and scale in 2018. Founders: Pavel Bains and Neeraj Murarka

3| Digix

Founded: 2014 About:This is the world’s first smart asset company which builds an ecosystem to be the 21st-century gold standard on the Ethereum blockchain. The company works as a natural fit for gold trading on the blockchain, brought together by the complementary experience in trading and financial services, financial technology, cybersecurity along with gold trading. Founders: Kai C. Chng, Anthony Eufemio and Shaun Djie.

4| Eloncity

Founded: 2017 About: Andi Li’s brainchild Eloncity is a Singapore-based renewable energy project which is powered by blockchain technology. In the ecosystem of this startup, the energy consumers play a significant role in the planning as well as the implementation of their energy future. The features include blockchain-based trade system with AI algorithm, smart energy storage systems, switching DC power bus, direct current appliances and proof of stored power (PoSp). Founders: Andy Li

4| KuCoin

Founded: The company’s platform architecture was built in 2013 but it became fully operational in 2017. About: KuCoin is one of the fastest growing cryptocurrency exchanges in the world. The company has a wide range of altcoins on the exchange and are ones regularly. Last year, the company announced the close of a US $20 million series A from IDG Capital, matrix partners and Neo Global Capital (NGC) and according to the sources, it ranks 49th in the world in terms of trading volume at the US $23.9 million and claims to have 5 million registered users. Founders: Michael Gan is the CEO and Co-founder.

5| Kryptos-X

Founded: 2017 About: Kryptos-X is a digital asset market platform which allows consumers and institutions to buy and sell digital assets and currencies which include bitcoin, bitcoin cash, Ethereum, Ripple, and Litecoin. The purpose of this company is to provide a bridge between the technology-based world of crypto and digital assets, and the fiance-based world of established large scale institutional investors and traders. Founders: Tony Mackay

7| Quoine

Founded: 2014 About: CEO Mike co-founded the financial technology startup with Mario Gomez-Lozada, President and CPO in 2014 which provides trading, exchange, and next-generation financial services powered by blockchain technology. The core product of the startup is known as Liquid, one of the largest exchanges in Asia which is a highly sophisticated cryptocurrency trading platform supporting fiat and dozens of cryptocurrencies. Founders: Mike Kayamori and Mario Gomez-Lozada

8| Sentinel Protocol

Founded: 2018 About: This startup is a decentralised crowdsourced threat intelligence platform built on the blockchain which is building a crowdsourced threat database on the blockchain by leveraing its consensus and incentive system. It offers proactive security solutions and a community readily available to investigate each incident as well as collects and analyses real-time hacks, scams, and fraud information for improved security of crypto assets. According to the sources, the company hasraised the US $27 million from investors including DraperDragon, Boost VC anda public sale. Founders: Patrick Kim

9| TOP Network

Founded: 2018 About: The startup is a decentralised open communication networking cloud communication neywork providing cloud communication services such as messaging, calling, video, VPN, CDN, IoT data sharing, etc. The company is a high-performance DAG-based blockchain platform designed for real-world business. Founders: Steve Wei

10| TenX

Founded: 2015 About: This startup is a Singapore-based blockvhain company, earlier known as OneBitwhich make cryptocurrencies spendable on-the-go. The TenX payment system includes the TenX wallet which can be funded with different cryptocurrencies and the TenX debit/prepaid card which can be used in almost 200 countries at over 42 million VISA points of acceptance both online and offline. The company has been incubated by PayPal in the year 2016 for further growth. Founders: Toby Hoenisch, Paul Kittiwongsunthorn and Michael Sperk.

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