The blockchain platform is launched by the company owned by a government agency and a major port operator. The services is developed by the firm’s fully-owned subsidiary GeTS. Open Trade Blockchain is called the linking element between the Association of Southeast Asian Nations (ASEAN) nations and China. It will be used for trading operations and the access to all the commercial documents within the logistics as well as for development of decentralized apps. Eugene Wong, the chairman of CrimsonLogic and GeTS, stated that blockchain developments could ?help create greater trust amongst cross-border traders?. CrimsonLogic is a service provider for e-government in Singapore. The main stockholder is IE Singapore, a government agency under the Ministry of Trade. The other 45% belongs to PSA International, which operates ports in South America, Southeast Asia and Europe. GeTS was launched in 2017 and handled over 10 million transactions within a year. |
