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Singapore ramps up its blockchain research capability

By Carine Lee

04:13, 24 August 2022

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Algorand / USD
0.2259 USD
-0.0089 -3.850%
Klaytn to US Dollar
0.1806 USD
-0.0037 -2.040%

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Singapore's Merlion
The Algorand Centre of Excellence is a research and education centre – Photo: Shutterstock

Claiming to be the greenest and most secure blockchain ecosystem in the world, Algorand Foundation has selected Nanyang Technological University in Singapore (NTU) as part of its $50m program to host a new research and education centre aimed at developing and advancing blockchain technologies

Known as the Algorand Centre of Excellence at NTU (ACE@NTU), NTU is one of 10 new Algorand Centres of Excellence (ACE) established earlier this month, NTU said in a recent statement.

Algorand (ALGO) was first established by professor Silvio Micali from Massachusetts Institute of Technology in 2017. It is a fully decentralized, secure, and scalable blockchain that provides a common platform for building products and services for a borderless economy.

ALGO to US dollar

ACE@NTU aims to become the nexus for blockchain education and research as well as foster a vibrant ecosystem to advance blockchain development and adoption in Singapore and the region in the next five years.

NTU deputy president and provost professor Ling San said: “As a world-leading University with deep expertise in computer science and related fields, we now aim to groom a pool of talent in blockchain for Singapore.”

“Through research, new programs and upgrading courses, NTU will equip undergraduates, postgraduates and industry professionals with cutting-edge blockchain knowledge and know-how, in order to accelerate industry adoption of the technology,” he added.

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There are five initial blockchain research projects, of which one of them is SGVerse – a metaverse platform for smart grid technologies to be tested out across the world. Two other projects include blockchain implementation for enterprise use, and blockchain-powered machine learning for financial data management.

An International Blockchain Technical Alliance will also be set up by ACE@NTU to facilitate exchange and cooperation among leading institutions, and to promote the use of blockchain technology among key decision makers and the public.

NTU will establish an “Innovation Sandbox” for blockchain, providing an environment where appropriate safeguards are in place and specific legal and regulatory requirements are relaxed for new blockchain technologies to be test-bedded and validated.

Algorand’s news comes after Klaytn (KLAY) announced their Blockchain Research Center Program, where it has chosen South Korea’s KAIST and Singapore’s NUS to host and operate its program.

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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