Singapore, 26 May 2017 – Blockchain may still be a buzzword for many here in Singapore, but at least one startup business – and one Institute of Higher Learning (IHL) – is putting their money where their mouths are. The FinLab graduated one of two blockchain companies in our inaugural batch last year, and one of them, Attores, has taken a big step forward to implementing blockchain solutions for organizations in Singapore.
In a first for Singapore, Attores will pilot with Ngee Ann Polytechnic to issue diploma certificates on the blockchain. The technology, placed on the Ethereum Blockchain and powered by client software built by Parity Technologies, allows for organizations to securely create, deploy, verify and validate the e-certs issued on the blockchain.
And the school could not be happier. Clarence Ti, principal of Ngee Ann Polytechnic, shares the value of such a solution, We issue over 4,000 diploma certs and other kinds of certificates every year. The process of verifying the authenticity of certificates can be very manual. With blockchain, we can simplify this process, make it user-driven, and boost productivity. Not only will this help students effectively kick-start their career, employers also get them onboard with minimal hassle.
Though Attores officially graduated from the program last August, it continues to have support in many areas from The FinLab and UOB, including access to key channels and business networks that extend beyond the financial industry. This access isn’t limited to just making the initial introductions, but also frequent syndication between parties to bring an actual project to the table.
David Moskowitz, CEO of Attores, attests to this. The FinLab was instrumental in helping us connect with Ngee Ann Polytechnic through the PolyFinTech 100 initiative. We are very thankful for the continued support that both UOB and The FinLab have given us, and we look forward to deepening this relationship further.
Organizations, from IHLs to large corporates and SMEs, can look to Ngee Ann Polytechnic as an example of an institution that has leveraged new technology to greatly improve efficiency and productivity. Many have already begun this innovation journey, and The FinLab intends to play a key role in this Smart Nation ecosystem. And it starts by identifying and grooming interesting technology businesses with solutions that can solve real-world problems.
Felix Tan, Managing Director of The FinLab, adds, This is indeed an important milestone for both The FinLab and for Attores. We will continue to build more collaborative partnerships with the industry because they can consume innovative solutions that address their problem statements. In doing so, they create the demand that fledgling technology companies need to grow and thrive. This, in turn, helps our companies and economy become more competitive – a definite win for all concerned.