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BMW and Intel join hands with Government Supported Blockchain Accelarator

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According to reports, BMW Group Asia, Nielsen, and Intel have joined hands with Tribe (Singapore government-supported blockchain accelerator). It was on Friday that Tribe came out to announce the news. According to Tribe, three firms will collectively support and share their knowledge and expertise in their respective fields with Tribe’s startups with the intention of developing an ‘inclusive’ ecosystem ‘ready for industry 4.0.’

Reports suggest that BMW Group Asia will deliver ‘masterclasses’ and mentoring sessions on how to implement blockchain solutions in mass markets. Carsten Sapia – Vice President – group IT and head (Asia Pacific region) BMW Group, Asia in one of her statements said that “We hope we can help each of these startups develop their proofs-of-concept and reach the next stage of their development.”

On the other hand, Intel Corporation will take the lead in terms of offering technical and business mentorships to startups. According to Michael Reed, Intel’s blockchain program director “Intel technologies like Intel Xeon Scalable processors and Intel SGX can help improve privacy, security, and scalability of blockchain solutions.” Further, Nielsen will enable “a sandbox with the objective of providing participants with a safe, controlled environment to test new technologies and accelerate the adoption of their solutions.”

Ryan Chew, the Tribe accelerator managing partner in one of his interviews, stated that “To move forward as a society, we need to encourage experimentation, and once the benefits of blockchain technology become evident, mainstream adoption will undoubtedly follow.” Previously, in the month of February, Tribe joined hands with ConsenSys (Ethereum development studio) with the intention of furthering blockchain ecosystem in Singapore.

Tribe Accelerator was launched in December 2018 as a subsidiary of Trive Ventures (venture capital firm) in collaboration with ICON Foundation (based in South Korea) and PwC (Singapore venture hub). A government agency was set up (Enterprise Singapore) in order to develop a startup ecosystem is supporting the accelerator.

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