With a number of cryptocurrency launches occurring within the blockchain space, the digital wave of ICOs, popularly known as token sales is fast replacing the ‘Gold Rush’ in today’s world. While the global rhetoric on the adoption of blockchain technology might differ, Singapore is emerging as a famous blockchain hub for many startups and companies.
To put this in perspective, here are the top 5 reasons why Singapore has secured the top spot for the blockchain industry and crypto conferences.
A clear regulatory picture
Unlike some countries in the APAC region where the government is cracking down on cryptocurrencies with multiple regulatory changes, and banning individuals from dealing in such digital assets; entrepreneurs and crypto-enthusiasts have a clear understanding of the regulations that the local authorities in Singapore have outlined. From a regulatory perspective, Singapore has embraced the technology by setting specific rules of engagement by supporting crypto startups to adopt the technology, as opposed to banning the digital assets outrightly,
Several blockchain and crypto conferences get organized in the island-city
Behind the meteoric rise of Singapore as a favorite blockchain destination, there are some of the most famous blockchain and crypto conferences that get organized throughout the island city all year round. Visit a tech hub in Singapore at any time and you’ll find news about an exciting ICO offering that’s launching or a blockchain event being held in some part of the city. Such events and gatherings set the stage for crypto-enthusiasts to connect with the blockchain community, and together drive the industry forward. Understanding the long-term value of the blockchain ecosystem, many seasoned tech entrepreneurs are now engaged in curating and hosting top blockchain conferences in Singapore. Some of the top events being held at Singapore include:
- BlockShow Asia 2018 (November 27 – December 1)
- United Conference of Internet Money (UCIM) (26-27 November)
- DevRel Summit (November 2)
- Crypto Expo (October 26)
- Startup Weekend Singapore MEGA 2018 (28-30 September)
- Consensus: Singapore
- Blockchain Summit
- World Blockchain Conference
- Blockchain Economic Forum
While these are just a few top blockchain events, the country also hosts several other events that aim to connect crypto-enthusiasts with leaders of this industry, making Singapore one of the top spots for such conferences.
One of the Biggest Crypto-Markets
Singapore accounts for the third-biggest market in total revenues generated from crypto-token sales only after the USA and Switzerland. Many tech professionals engaged in crypto startups have moved their bases to Singapore with an objective of achieving a sound revenue model for their blockchain-based enterprises. Additionally, as compared to other countries, Singapore is one of the cheapest places to launch an ICO, in terms of company registration, legal fees, tech-support, and other related services. This has resulted in the city gaining a top spot among the regional blockchain hubs of Asia Pacific.
Support from Traditional Financial Institutions
Singapore is one of the best test beds for developing technologies and with a number of top blockchain events held within the city, crypto-entrepreneurs get several opportunities to connect with the industry leaders and develop strategic partnerships. While Singapore has a favorable regulatory environment, the financial institutions have largely remained supportive towards blockchain technology and experts suggest that cryptocurrencies could soon become mainstream in the near future. With a proactive approach and numerous opportunities provided by conferences, Singapore is the best bet to hold a crypto-conference or launch an ICO.
A Strong Financial Center
Apart from having a robust financial foundation, Singapore also holds enough resources for providing blockchain development capabilities to large tech companies that are in the quest to pursue new technologies. With large financial institutions supporting technology adoption and a liberal regulatory environment, Singapore is definitely reinventing itself as a major hub for blockchain and fintech startups that develop innovative product and services while offering a great platform for the crypto community to connect and share knowledge.