Big names, small origins

With the heightened negativity associated with cryptocurrencies, many would assume that blockchain, the accompanying technology is dead.

But on the contrary, blockchain as a technology is very much alive and applicable as a deep tech layer that would significantly impact the way we operate.

In fact, a number of blockchain projects exist right here in Singapore.

So what are these blockchain projects about?

TRIVE’s team that runs Tribe, Singapore’s first government-backed blockchain accelerator, investigates and tell us more.

Automotive – MVL

The automotive industry faces multi-faceted issues.

Examples are cab drivers with discourteous service, unreliable service by mechanic shops, a lack of consistency and transparency on used-cars by dealers, and accidents caused by reckless driving.

Current solutions are unable to address these individual issues effectively, let alone solving them as a whole.

To further compound the issue, the lack of transparency often leads to an increase in prices customer has to pay for.

MVL Chain was born based on these issues. It is a vehicle data collecting ecosystem based on blockchain technology which aims to resolve these issues.

It is an ecosystem that connects all services, like the car dealer shops, mechanic shops and car rental companies, touchpoints that your car engages in its lifetime.

These participants will insert core data related to driving, traffic accidents, repairs and other car-related transactions into the blockchain.

With this ecosystem, records of all activities relating to a particular vehicle for the entire duration of its lifetime can be maintained.

It can also be ensured that such records are kept free from corruption. Only the owner will have the authority over his or her data stored on the decentralized blockchain.

Previously, a limited number of centralized services monopolized data, but now the power of who owns the information is distributed evenly to the people.

Various participants in the vehicle market can continue to add trustworthy data and be connected in one ecosystem.

User Data – Indorse

In order to generate revenue, social networks sell user-generated content and information to providers, advertisers and recruiters.

This leads to a loss of user privacy.

Furthermore, users do not get any revenue-sharing for the information they produce.

Indorse seeks to address this issue and wants to use the blockchain’s decentralised network to allow people to regain control of their data.

Plus, the nature of the distributed ledger means Indorse users would enjoy significantly more privacy within the ecosystem than the current model for social networks.

The startup is a skills-based professional network platform using new models of tokenization and decentralisation to change the shape of professional social networking — letting the users own and earn from their data.

The solution replaces the current way social networks operate.

It is a decentralised one that places ownership of information back in the hands of the members.

They have control of their own profile with themselves and they get to choose how their data is used by the Social network.

It also allows members an easy way to earn rewards for the activities that beneﬁt them.

With participation in the network, members can earn Indorse Rewards for sharing more about themselves and for endorsing the claims of others.

Indorse is co-founded by David Moskowitz and Gaurang Torvekar, known figures in the Blockchain Industry Association.

Food – Whatshalal

Always wondering whether food consumed is Halal in origin, or to discover new sources of Halal eateries?

This is a major pain point in the world’s Muslim population, especially when travelling to overseas destinations where Halal food is hard to find and not certified.

To address this, WhatsHalal aims to be the definitive guide and provider of unquestionably Halal Thoyiban food to the Muslim community.

The creation of a Halal ecosystem seeks to reduce, even eliminate, doubt of the “Halal-ness” of the food you consume, in fast-changing times where information may not be substantially available or easily sourced.

The startup wants to strengthen the Halal integrity of certificates by ensuring each stage in the life cycle of a food item or product can be established with certainty the conditions that the item was produced.

Story continues