Singapore’s State Investment Firm Backed R3 as Part of Blockchain and AI-Focused Strategy

Singapore’s state investment firm Temasek Holdings Pte has invested in enterprise blockchainsoftware firm and global banking consortium R3, according to a Bloomberg report Nov. 22.

Singapore’s state investment firm Temasek Holdings Pte has invested in enterprise blockchain software firm and global banking consortium R3, according to a Bloomberg report Nov. 22.

Temasek is a Singapore government-owned investment company, which has reported its Asia-focused portfolio to be worth around S$308 billion ($235 billion) as of spring 2018.

Bloomberg today cites an “internal memo,” whose contents have reportedly been confirmed by a Temasek spokesperson, which illuminates the company’s broad investment strategy as of October 2018. It indicates that Temasek is responding to a shifting global investment landscape by focusing in on bleeding-edge technologies such as blockchain and artificial intelligence (AI).

This strategy reportedly entails the creation of “experimental pods,” set up with the express purpose of focusing on investments in blockchain technologies and AI, two areas the company considers to be “long-term” trends set to impact multiple industries globally.

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