Our CEO, Chong Kok Keong (KK) was invited by The Economist to share his insights on blockchain and its application in trade and logistics. Ms Pamela Qiu from The Economist assembled a diverse panel covering blockchain applications in various verticals such as supply chain, cyber security, banking.

KK shared that for blockchain to work, it’s critical to get a network of users transacting among one another. As blockchain is still relatively new, there is inertia of adopting it. To overcome the inertia, GeTS launched OTB (Open Trade Platform) last year with the aim of making it easy with no-strings-attached for our community of users to try out blockchain. In the past few months, we are seeing many use-cases being tested on our OTB.

When asked if Singapore will be able to build a network type of business in blockchain and if so, which sector; KK commented that Singapore, leveraging its unique position as a global trade hub, has the potential to build such a network.

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