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  • 07 Dec 2020
  • Company News

New Blockchain for Trade & Connectivity Network will assure reliable supply chains and strengthen trust in Singapore as a global trading hub

GeTS continues to support the industry's commitment to strengthen trade and connectivity linkages. We are pleased to share that we are among the six partners to sign a Memorandum of Understanding (MOU) with the Singapore University of Social Sciences (SUSS) and Enterprise Singapore (ESG) during the Singapore Week of Innovation and TeCHnology (SWITCH) today. The MOU aims to create, trial and lead the implementation of the Blockchain for Trade & Connectivity (BTC) Network - a unifying platform that allows blockchain and other technologies to operate together. We will explore the possibility of expanding our Open Trade Blockchain (OTB) use cases to interoperate with BTC Network. GeTS’ OTB is built for the trade ecosystem communities for co-creation to uncover meaningful use cases. Focused on creating a trusted digital environment, we are a permissioned blockchain infrastructure network with trusted nodes hosted by whitelisted global trade organizations such as accredited trade compliance service providers.

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SUSS worked with Enterprise Singapore (ESG) to launch the BTC Network which allows for innovation and test bedding of blockchain solutions with multimodal global supply chain companies, digital trading platforms and technology specialists. It will focus on enhancing interoperability between blockchains by integrating mesh networks to streamline connectivity between existing systems or platforms.

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