Singapore-based GBCI Ventures (GBCI), announced its first venture built company, Building Cities Beyond (BCB) Blockchain. BCB Blockchain protocol is the foundation for building smart city solutions and has APIs ready for use for the development of applications, such as asset ledgering, eWallets and payment systems. It also has an ecosystem built to support the development of successful smart city solutions, including real world implementation in an actual city.
BCB is founded by GBCI with a team of 100 in Singapore, Myanmar, Thailand, China and the Philippines. The BCB team has spent most of their time working on the mainnet of the blockchain technology and pushing the blockchain protocol to develop smart city applications.
“BCB’s strength lies in the platform for smart city projects. We believe blockchain technology improves trust and transparency in all forms of transactions across all industries for smart cities,” said Lee Changjin, Chief Operating Office of BCB.
In the following months, BCB together with GBCI will launch blockchain accelerators regionally. GBCI has also earmarked a minimum fund size of US$10m to invest in smart city projects developed on the BCB Blockchain. GBCI plans to launch a blockchain focused fund with like-minded investors soon.
Built by serial entrepreneurs, BCB’s focus is on utilisation and real world implementation. The company will announce their first smart city project in an emerging market soon, where the BCB Blockchain protocol is used to ledger assets and process transactions.
GBCI‘s main role when investing in startups is to help the entrepreneur focus on innovation while centralizing various supporting functions, such as rent, talent, Corporate Affairs, HR, Finance and IT. By providing the business infrastructure and key resources to kick start a project, GBCI gets involved deeply in the venture creation process and the business operation.
Douglas Gan, CEO and co-founder of GBCI
“GBCI’s emphasis is on re-purposing talents and re-using our startup experience and knowledge to increase the chances of success in the long run. Currently, GBCI is building several companies in succession with core ideas that come from within the company or with partners,” said Douglas Gan, CEO and co-founder of GBCI. “BCB Blockchain is the first venture built company we spent many months investing in and a great business has sprung out of it,” he added.
GBCI Ventures is a leading venture capital fund and a venture builder in Asia.
GBCI’s US$100m smart city fund is 70% dedicated to venture building and 30% dedicated to VC activities on companies that eventually will be merged or acquired by GBCI. The GBCI venture building team is now 1000 across 8 countries in Asia, including China, with 400 of them being engineers. GBCI focuses on innovative technology investments ranging from artificial intelligence (AI), cloud computing, robotics, big data, IoT, blockchain to virtual reality (VR).
Building Cities Beyond (BCB) Blockchain protocol is the foundation required for building smart city solutions. With BCB safe, secure and scalable protocol, the APIs are ready for use for the development of a variety of distributed applications, such as eWallets and BCB payment card that has the ability to integrate cryptocurrency and bank transactions into one card, smart contracts, messaging peer-to peer applications and allow projects to create BRC20 tokens on the BCB platform. BCB is headquartered in Singapore.