DBS Bank of Singapore has launched a solution that uses blockchain technology to streamline the process of issuing government grants. DBS announced that in the pilot, the bank has partnered with Enterprise Singapore (ESG), a statutory board under the Singapore government's Ministry of Trade and Industry, and the Singapore FinTech Association (SFA), which promotes fintech in the country.
During the pilot, the State Forestry Administration issued government grants to 27 members. DBS said its pilot showed how blockchain-based programmable grants could improve efficiency, strengthen governance and allow companies to access government grants faster.
DBS Bank to Pilot Blockchain-Based Government Grants
2024-08-22 07:32:14
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