The blockchain fever is gaining scope and depth in the East Asian region. Particularly, the region’s governments are striking strategic deals to facilitate further growth in the industry. According to the latest reports, ABA is partnering with the Taiwanese government to support local blockchain-compliant applications.
Particularly, Asia Blockchain Accelerator (ABA) will work in close partnership with ACE Exchange, Taipei Times reports. ACE Exchange and the ACE Blockchain Fund enjoy full support by the Ministry of Economic Affairs of Taiwan. Essentially, ACE Exchange offers trading opportunities for investors who want to convert fiat money to cryptocurrency.
ABA Partners With Taiwanese Government to Provide Support for Startups
On the other hand, ABA provides necessary support to nascent blockchain-focused startups helping them to get successfully off the ground. In the pact with ACE Exchange, the two companies will provide a wide-ranging assistance to local entrepreneurs. In particular, they will provide funding to support startups which exhibit enough potential for real-world implementation.
The collaboration also involves helping blockchain startups to ease into the blockchain sector without many obstacles. This includes “business integration, tokenization strategy,” and provision of many other crypto-related resources.
Interestingly, the collaboration will also help foreign blockchain enterprises with existing and thriving businesses. In essence, ABA and her partners will simply amplify blockchain-focused businesses with excellent business models.
Announcing the partnership, ABA chief executive officer, David Pan, said that the focus will be on industry disrupting enterprises. He clarified, “ABA aims to build an ecosystem to maximize the business potential of blockchain technology, which is poised to disrupt many aspects of how businesses and economies work.”
Small and Medium Enterprise Administration
Further, Pan believes in the capacity of blockchain to bring value to enterprises and customers alike. To that end, he reveals that ABA will build a “comprehensive ecosystem that maximizes the real business potential of blockchain.”
As the startup accelerator partners with the Taiwanese government, the country joins others in the leading exploitation of blockchain. Furthermore, the Asia Blockchain Accelerator committed to extending further support to other blockchain-focused enterprises within and outside Taiwan. In essence, supporting ACE is just the first step in that direction.
Interestingly, ABA is the foremost blockchain accelerator to benefit from government incentives under the Small and Medium Enterprise Administration. This is a division under the Ministry of Economic Affairs that supports organizations that positively impact the Taiwanese economy.
Already, ABA is working with Poseidon Network, a local company trying to facilitate its global ambitions. According to Coinspeaker, “Poseidon Network is now the world’s largest decentralized content delivery content in operation.”
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