The BTC Network allows for the innovation and testbedding of blockchain technology with global supply chain businesses, digital trading platforms and technology specialists. It hopes to strengthen blockchain interoperability by integrating mesh networks to streamline connectivity between existing platforms and systems.
On the sidelines of the Singapore Week of Innovation and TeCHnology (SWITCH) 2020, the Singapore University of Social Sciences (SUSS) and Enterprise Singapore (ESG) signed a Memorandum of Understanding (MOU) with six commercial partners to create, trial and implement the Blockchain for Trade & Connectivity (BTC) Network. The new network is a unifying platform that will allow blockchain to operate together with other technologies.
Among the six commercial partners was VeChain Technologies - a global leading enterprise-friendly blockchain company with partnerships including Walmart China, BMW Group and H&M Group - and the Commodities Intelligence Centre, which has a Gross Merchandise Value of more than US$12.7 billion (S$17.7 billion) and over 5,000 registered users across Asia. The initiative was supported by the National Research Foundation.
