An Overview of Singapore’s Project Guardian
Singapore/ Digital/ Web 3.0

Asset Tokenisation, First Pilot, and More: An Overview of Singapore’s Project Guardian

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An Overview of Singapores Project Guardian

Inflation, employment rate, and market price are economic indicators that affect the market’s liquidity. If these factors go way beyond projections, the market may become volatile or unstable. As an alternative to traditional investments, blockchain-enabled digital assets like cryptocurrencies recently showed sharp movements in trading prices.

Volatility in the market means the risk of losses is higher. Nevertheless, crypto continues to gain traction.

As Asia's leading fintech hub in Asia, Singapore is banking on this trend with the launch of “Project Guardian.” Led by the Monetary Authority of Singapore (MAS) and the finance industry, this project aims to explore the economic potential and value-adding use cases of asset tokenisation. Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat announced the initiative during the Asia Tech X Singapore Summit on May 31, 2022.



Here are some important things you need to know about Project Guardian:

Asset Tokenisation and Decentralised Finance (DeFi)

This project is designed to “test the feasibility of applications in asset tokenisation and decentralised finance” while managing the risks, Heng said during the commencement last May. He also mentioned the city-state's openness to the potential utilities and opportunities of Web 3.0.

First Pilot

The first pilot of the Project Guardian was led by its partners, DBS Bank, JP Morgan, and Marketnode and involved the creation of a permitted liquidity pool including tokenised bonds and

deposits. The initial phase is expected to build security in terms of “borrowing and lending on a public blockchain-based network through the execution of smart contracts”.

“This pilot is also pivotal as it furthers efforts to innovate, advance and scale institutional financial applications on blockchain and their interoperability across different blockchain networks with the long-established rails of the existing financial markets. We believe that these early explorations in DeFi solutions will ensure the competitiveness and relevance of Singapore as a cutting edge financial centre,” Heng said.

To ensure reliable security during the execution of DeFi protocols, MAS also plans regulated and verified blockchain entities, while providing "information on regulatory safeguards and controls of DeFi protocols to guard against market manipulation and operational risk.”

Four Main Areas of Research

Open, interoperable networks

An open network means it is interoperable or able to be integrated with different networks or technology. Through interactive collaboration and modified processes, Project Guardian can make use of public blockchains connected to digital assets to be traded across various platforms and liquidity pools.

Trust Anchors

Trust anchors in organisations are built to ensure an encrypted and private ecosystem across the blockchain ledger. In this initiative, trust anchors are expected to screen and verify issues on credentials to entities or financial institutions interested in participating in DeFi protocols.

Asset Tokenisation

Asset tokenisation is about the automation and wire traceability of the life of the asset. Project Guardian aims to “build upon existing token standards, incorporate trust anchor credentials and enable asset-backed tokens to be interoperable with other digital assets used in DeFi protocols on the open networks.”

Institutional Grade DeFi Protocols

Personal financial management is made possible with DeFi, a platform that enables users to use decentralised mobile applications to manage their assets, such as digital wallets and private keys.

Singapore's Project Guardian continues to assess its regulations, ensuring that DeFi protocols are protected and controlled in order to prevent market manipulation, which could lead to operational risk. Other areas concerned are auditing capabilities and code vulnerabilities.

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Singapore/ Digital/ Explore

Singapore Rolls Out Passport-less Immigration Clearance at Changi Airport

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SG Automated Lanes

Heads up, travelers! Your dreams of walking through departure and arrival immigration at Singapore’s Changi Airport without a passport just became a reality!

The Immigration and Checkpoints Authority (ICA) recently rolled out a biometric integration in selected automated lanes at Terminal 3 on Aug. 5 for arriving Singapore Residents. According to their announcement last July 31, all terminals at Changi will be transitioning to passport-less immigration clearance by September 2024.

This biometric technology enables facial and iris recognition, which makes the entire process faster and more secure. As of now, ICA’s New Clearance Concept (NCC) only includes Singaporean Residents comprising Singapore citizens, permanent residents, and long-term pass holders. The automated system will also be introduced to other Singapore entry points including Seletar Airport, and land and sea checkpoints such as in the Marina Bay Cruise Centre where it's scheduled to roll out by December.

“Singapore is first in the world to implement token-less clearance on a large scale,” said Assistant Commissioner Phua Chiew Hua as reported by The Strait Times. “When fully implemented, both types of passport-less immigration clearance will reduce clearance time by 30 percent to 40 percent.”

This simplified process gives travelers more time to shop, dine, and explore Changi Airport, which has been named the world’s best airport by Skytrax not just once, but twelve times!

Although travelers can enjoy a faster and more simplified immigration clearance process, it doesn’t mean that you can ditch your passports altogether. You will still need them for check-in and baggage drop at Changi Airport, as well as for immigration procedures at your next destination. ICA may also implement random checks for verification so it’s important to keep your passports and other travel documentation in hand or somewhere accessible.

The passport-less immigration clearance project follows the implementation of automated immigration lanes for foreign visitors, which was successfully rolled out in May 2024.

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Singapore/ Digital/ Updates

HONOR's 200 Series Smartphones Are Now Available in Singapore

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HONOR Launches 200 Series Smartphones in Singapore Photo by Website/HONOR Singapore

Good news, HONOR users! The Chinese consumer electronics company has announced the launch of the HONOR 200 Series in Singapore, its new premium flagship lineup of smartphones equipped with AI features and studio-level photography.

The lineup is headlined by the HONOR 200 Pro (S$799), which boasts studio-level portrait photography with its 50MP portrait main camera and a Super Dynamic H9000 sensor, resulting in a perfect balance of light and shadows in photos. For taking distant images and videos, it is also equipped with a 50MP portrait telephoto camera and a customized telephoto sensor from Sony.

It also has an HONOR AI Portrait Engine, developed in partnership with Parisian art photography studio Studio Harcourt, which helps capture crisp and distinctive portraits.

For those looking for a seamless experience for gaming and browsing, the HONOR 200 Pro has a powerful Snapdragon 8s Gen 3 Mobile Platform and a CPU clock speed of up to 3GHz, which guarantees real-time responsiveness.

Its standard version, the HONOR 200 (S$599/S$699), is also equipped with amazing features, including a 50MP studio-level portrait camera, an ultra-slim design, an HONOR AI Portrait Engine, and a Snapdragon 7 Gen 3 chip, among others.

The HONOR 200 Series is available for pre-order from now until Aug. 7, with a S$50 instant rebate for each order! It comes with a free HONOR SuperCharge Wireless Charger Stand or HONOR Earbuds X6.

Official sales are on Aug. 8. Each purchase comes with a 365-day Front & Back Crack replacement.

You can get your HONOR 200 Series at authorized HONOR Retailers, Best Denki, Challenger, Courts, Harvey Norman, and Gain City stores, or shop online via Lazada, Shopee, or TikTok. For more information, visit HONOR’s website.

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Singapore/ Digital/ Updates

Experience Galaxy AI at These Three New Samsung Experience Stores in SG

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Samsung Unveils Three New Experience Stores in Singapore Photo by Samsung Singapore

Heads up, Samsung fans! You can now get to experience Samsung’s newest innovations in more locations, as the tech giant has opened three new experience stores in Singapore!

In cooperation with consumer electronics reseller OTTNO, the three new stores are established at Changi Airport Terminal 2 Departure Area, Compass One, and Junction 8. This brings Samsung’s total number of stores in Singapore to 12.

The highlight of the new openings is the Changi Airport store, which spans approximately 1,379 square feet. The store is adorned with an accessory wall that displays a wide range of unique accessories made specifically for Samsung products. The store is also offering 9% tax-free prices on all products for travelers visiting the airport.

At the new stores, customers will get to experience Samsung’s Galaxy AI features firsthand and learn how their features can help them with their daily tasks. This includes features like Live Translate, which allows users to understand another language in real-time, as well as Photo Assist, which helps users create flawless images.

These stores also showcase the latest Samsung products and offer in-person, one-on-one consultations for customers.

Speaking about this milestone, Brenda Nai, Operations Manager for OTTNO SES, said in a press release, “These stores serve as an experiential touchpoint for customers who prefer to learn more about Samsung's products in-store and in-person. As such, we have deliberately designed an experience in consultation with Samsung to bring the brand's innovation to life and making it relatable to the everyday consumers – especially in the age of AI.”

Experience Galaxy AI and their latest products by visiting these stores! To find a Samsung Experience Store near you, click here.

Locations: Airport Boulevard, Changi Airport Terminal 2, #02-168 Departure / Transit Lounge Central, Singapore / 9 Bishan Place, Junction 8 #02-41, Singapore / 1 Seng Kang Square, Compass One, #03-06/07, Singapore

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Singapore/ Digital/ Apps

Win Exciting Prizes When You Ride with TADA 'til July 31

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Win Exciting Prizes When You Ride With TADA til July 31 Photo by Facebook/TADA

Ride-hailing app TADA is celebrating its sixth anniversary this year, and it promises big surprises for its users.

Through its month-long celebration, “TADA FEST,” the ride-hailing platform is giving riders a chance to win prizes in the TADA QUEST, including ride vouchers and three major rewards. There are also weekly missions, where riders can redeem vouchers and other perks from TADA’s partner brands.

For the TADA QUEST, lucky customers taking TADA rides from July 1 to 31 will see a special in-car hanger where they can scan a QR code to receive ride vouchers or tokens to claim one of the major prizes: three winners will get the Garmin Forerunner 955 Smartwatch worth S$789, two winners will get a Rimowa Luggage worth S$1,490, while only one winner will get a S$6,000 cash.

TADA FEST's TADA QUEST In-Car Hanger Sample Image
Photo by TADA
TADA FEST Weekly Mission Stamp Collection Page
Photo by TADA

To top it off, riders can also unlock TADA, DBS, and Tomoro Coffee vouchers weekly by collecting stamps from every TADA ride taken, with no minimum spend required.

“This milestone is not just about our success; it’s about honoring the incredible drivers and riders who have made this journey possible. Their trust and support have propelled us forward, and TADA FEST is our heartfelt way of saying thank you and celebrating the supportive community we’ve built together,” said TADA CEO Sean Kim.

TADA was launched in Singapore in 2018. Today, the platform has become one of the country’s most trusted ride-hailing platforms.

Learn more about TADA FEST’s rewards by visiting its website or Facebook page.

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Singapore/ Digital/ Updates

Apple Vision Pro to Arrive in Singapore, Now Available for Pre-Order

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You Can Now Pre Order Apple Vision Pro in Singapore Photo by Website/Apple

Heads up, Apple fans! Apple’s spatial computer, Apple Vision Pro, is coming to Singapore soon!

The Vision Pro will be available in Apple Store locations nationwide, the Apple Store website, and the Apple Store app starting June 28, but you can already pre-order it as early as today! It will retail for as low as S$5,299, with storage capacities of 256 gigabytes, 512 gigabytes, and one terabyte.

The device to be sold in Singapore comes with a VisionOS 1.2 operating system and English and Simplified Chinese language support. It also comes with accessories like a personalized Light Seal with two Light Seal Cushions, an Apple Vision Pro Cover, USB-C Charge Cable, USB-C Power Adapter, battery, and more.

Apple Vision Pro (VisionOS 1.2) Available in Singapore
Photo by Website/Apple
Apple Vision Pro (VisionOS 1.2) Available in Singapore
Photo by Website/Apple

The device also carries over 2,000 apps, including productivity apps like Microsoft 365 and Zoom, games such as The Lost City and Where Cards Fall, among many others.

Meanwhile, the Vision Pro Travel Case retails for S$299 while AppleCare+ for the device costs S$749.

Upon purchasing the product, customers can get a personalized walkthrough on setting up the Apple Vision Pro. Users will need to use an iPhone or iPad with Face ID and the latest version of the Apple Store app for a face scan, which will help Apple find the optimal Light Seal and head band sizes to fit users.

For customers who need a thorough walkthrough, they can book demos at their local Apple Store, available starting June 28 at 8 AM on a first-come, first-served basis.

To pre-order or learn more about the Apple Vision Pro, click here.

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Singapore/ Digital/ Profiles

Elevator Pitch: Meet Comic Book Author & SquareX CEO Vivek Ramachandran

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Elevator Pitch Meet Comic Book Author Square X CEO Vivek Ramachandran

When the term “hacker” comes to mind, you probably think of illicit activities and online threats. In Singapore alone, the prevalence of ransomware and phishing attacks surged significantly with 54% recorded in 2021 and continued to rise by 175% in 2022, with the banking sector being the primary target, according to a review on Singapore’s cybersecurity challenges published on Feb. 11.

For the uninitiated, hacking culture consists of three categories: namely white, black, and grey hat hackers. Black hat hackers are notorious for exploiting security vulnerabilities for malicious purposes, while white hackers are more "ethical" ones who leverage their skills to fix vulnerabilities. In contrast, grey hat hackers are usually involved in morally ambiguous activities which means that their actions and motivations may walk the line between legality and illegality.

If you’re intrigued by the world of hacking or fascinated by the complexities of cybersecurity, chances are you’ve read the comic book series “Hackers: Superheroes of the Digital Age” by Vivek Ramachandran.

Based in Singapore, Vivek is the founder and CEO of SquareX, a browser-native security product or browser extension programmed to keep users safe from nefarious online activities. More than just being a seasonal cybersecurity expert with over 20 years of experience, he is also a security researcher, author, and speaker-trainer.

The Beat Asia caught up with Vivek to learn about his cybersecurity journey, entrepreneurial pursuits for SquareX, and more.

Vivek Ramachandran
Photo by Vivek Ramachandran

Please share with us the story of how your tech journey started

My journey into the world of cybersecurity and technology began when I was quite young, back in the year 2000, during the massive denial-of-service attacks that targeted prominent websites, including Yahoo. I vividly remember the hacker named Mixter who developed the notorious Tribal Flood Network tool responsible for those attacks. This event piqued my curiosity and led me to download the tool in an attempt to understand how it worked, even though I couldn't grasp much of it at the time.

This initial encounter ignited my interest in cybersecurity and technology. I embarked on a quest to comprehend not only the programming languages involved but also the methods behind crafting such tools. As I dived deeper into this intriguing world, my interest, addiction, and obsession with cybersecurity grew, setting the foundation for my career in the field.

How would you describe the work culture at SquareX?

Vivek Ramachandran
Photo by Vivek Ramachandran

At SquareX, our company culture is built on a foundation of innovation and collaboration. We foster an environment where creativity and fresh ideas are not only encouraged but also celebrated. Our teams are diverse, bringing together individuals with a wide range of skills and perspectives, which fuels innovation.

To maintain our edge in the rapidly evolving cybersecurity market, we prioritize continuous learning and R&D. We encourage our employees to stay up-to-date with the latest industry trends and invest in their professional development. This commitment to growth enables us to adapt swiftly to emerging threats.

In short, we at SquareX are all about coming up with smart ideas, learning together, and working as a team to lead the way in cybersecurity. It's this kind of environment that keeps us on top of our game and lets us keep delivering top-notch security solutions to our customers.

We constantly read news about hundreds of millions being lost in online scams. What do you think is the root issue, and how can this be solved?

The root cause is that we live in an increasingly complex digital world powered by technologies which are difficult for the average person to understand. This makes it easy for attackers who are more technologically adept to scam and fool the ones that are not. Moreover, these attackers have further enhanced their attacks using AI tools like ChatGPT, making it even more difficult for users to simply identify an attack attempt based on bad grammar.

Unfortunately, the average person lacks security awareness about how they could get attacked in the digital world or which products they could use to safeguard themselves. This can be solved with public-private partnerships to create both security awareness and a culture of good security habits and product use.

What inspired you to write the comic book series “Hackers: Superheroes of the Digital Age”?

After the acquisition of Pentester Academy, I was looking for ways to give back to the community primarily via mentorship, which led me to write and publish “Hackers: Superheroes of the Digital Age."

This initiative was, in a way, my response to the mainstream media's negative portrayal of hackers, often depicted as villains in a digital world. By introducing a series that showcases the diversity and ingenuity of hackers, my aim was to demystify hacking, presenting it as a creative science. The series highlights hacker vigilantes from various backgrounds tackling global issues with knowledge as their weapon, though not always with success.

In today’s AI-driven world, attackers are using technologies like ChatGPT to create malicious code and more convincing scams. How will SquareX’s technology address these concerns?

With the advent of ChatGPT and now AI voice, video assistants, and deep fakes, we won’t be able to rely on our human senses to decide if something is real or virtual just based on seeing or hearing. As SquareX runs on the web browser, we are able to see what users see and hear what is said out there. We are currently building an AI-based security system, which can detect deep fakes in video, audio, and images. Stay-tuned!

Can you tell us more about SquareX’s approach to securing end users and enterprises against web attacks in the browser and how this is differentiated?

Today, the web browser is the most used application on your computer for work and personal life. Attackers now intelligently target users via multiple channels, including web mail, malicious documents, networks and scripts all via the web browser.

SquareX protects against these attacks by deploying a browser extension that constantly monitors everything that is happening on the browser. This allows SquareX to detect and mitigate threats in real-time for every user.

SASE/SSE solutions are unable to protect users against modern web threats that happen on the client side, and endpoint security solutions have no visibility into what happens in the browser during an attack. Hence, we hear more and more enterprises these days are falling victim to cyberattacks.

To address the current limitations and needs of the market, SquareX offers enterprises full visibility into the attack chain, enabling them to effectively threat-hunt and identify similar attacks across their networks and geographies. Empowering the enterprises with detailed threat graphs would help them understand how and where the attack originated.

Our dream is for every web user, from our grandparents to the CEOs of Fortune 100 companies, to “Be Fearless Online.”

What would you say to the young and emerging entrepreneurs who are about to embark on their business journey?

First and foremost, embrace innovation. In today's fast-paced world, the ability to identify opportunities and pioneer creative solutions is paramount. Don't be afraid to think differently and challenge the status quo.

Secondly, build a solid and passionate team. The right people, who share your drive, can take your business to great heights. Lastly, commit to lifelong learning. Business changes constantly, and to lead, you must always be a student. Never stop learning and upskilling yourself

This interview has been edited for clarity. Read more about by Vivek Ramachandran here. Stay updated on SquareX’ latest updates by checking its website.

Enjoyed this article? Check out our previous Elevator Pitch profiles here.

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Singapore/ Digital/ Home Tech

10 Smart Home Devices to Give Your Home a Tech Boost

In partnership with:

Instagram ECOVACS Singapore Photo by Instagram/ECOVACS Singapore

Imagine waking up to a house that anticipates your needs before you even step out of bed – with an air purifier cleansing the air you breathe, a robot vacuum tidying the common areas, and most importantly, a coffee machine brewing a fresh cup to kickstart your day. It may sound like fantasy, but in today’s fast-paced world, technology has seamlessly integrated into our daily routines, transforming the home from an ordinary space into a smarter sanctuary where you can control most, if not all, of its features through your smartphone.

In Singapore, where life moves fast and innovation is a must, homes are evolving into havens of convenience, comfort, style, and efficiency. If you’re ready to future-proof your space and give it an upgrade, we’ve curated a list of smart home essentials and devices you can buy to complete your home – from speakers and lighting to instant pots and smart pillows.

For your home’s security: August Home Smart Lock Pro with Connect

Are you the type who seldom forgets if you locked the door or not? Worry no more with August Home Smart Lock Pro which works with Alexa for voice control. This gadget also allows you to monitor, lock, and unlock your door using your phone. With its DoorSense feature, you’ll be notified if your door is locked securely. The big plus? You can also track the activities at your doorstep with a 24/7 activity feed.

S$575.60, Buy here

For your living area: Philips Hue Smart 6-Inch LED Downlight

Lighting can instantly improve the ambiance of your space and you can set the mood easily with Philips’ Hue Smart LED Downlight. By adding a Hue Bridge to your purchase, you can control the lights in your home even while you’re away and set up different automations. Voice commands can also be easily set up with Alexa or Google Assistant.

S$80.75, Buy here

For your living area: Amazon Echo Studio or Google Nest Audio

Whether you have movie nights in the living area or love listening to music, having a smart speaker helps you indulge in an immersive experience. Take your pick between Amazon Echo Studio or Google Nest Audio.

Echo Studio highlights a spatial audio processing technology, a fine-tuning playback feature that adapts to the acoustics of a room, and Dolby Atmos technology that adds clarity and depth to the sound.

Meanwhile, Nest Audio features a compact design that can blend flawlessly with your home’s design. It has a woofer, tweeter, and tuning software so you can count on crisp vocals. It also adapts to the environment, so your music sounds better and your audiobooks clearer.

S$199.99, Buy Echo Studio here | S$139 Buy Google Nest Audio here

For your kitchen: Instant Pot RIO 7-in-1 Multi-Functional Smart Cooker

Highlighting a slimmer and modern design, the Instant Pot RIO has an anti-spin and non-stick pot for easy stirring or sauteing sans the spills. With 13 smart cooking programs, RIO lets you prepare quick and easy meals faster while also saving up on energy.

S$269, Buy here

For your kitchen: Bosch Fully Automatic Coffee Machine VeroCup 300 Silver

A shot of espresso can instantly brighten your day. With an Intelligent Heater inside, the VeroCup promises a flavourful espresso experience thanks to the constant brewing temperature. With its OneTouch function, you can enjoy an espresso or a cappuccino with the touch of a button.

S$1,999, Buy here

For cleaning: ECOVACS DEEBOT T30 PRO OMNI

Wouldn’t it be nice if you could just lounge around while a gadget cleans your space efficiently? Make it happen with the DEEBOT T30 PRO OMNI, ECOVACS’ first tangle-free DEEBOT that features a powerful suction for deep carpet cleaning, an auto-lift mopping system that detects carpets, and TrueMapping 2.0 that ensures intelligent path planning for navigating the room.

S$1,299, Buy here

For your bedroom: Dyson Purifier Cool Air Purifier TP07

Breathe in clean air from morning ‘til night with Dyson’s air purifier that’s made to capture dust and allergens. This smart home essential features three sensors that diagnose and react to air quality and make sure there are no pollutants in the air. Using the MyDyson app, you can control and monitor the air quality using your phone or do it hands-free with compatible voice services.

S$799, Buy here

For your bedroom: Neuro Code SMART Pillow

A pillow that lulls you to sleep? It exists! Neuro Code’s SMART Pillow has changed the game with its built-in speaker that produces 13 different sleep waves so you can fall asleep faster while improving your deep sleep. This bedroom must-have is made of high-density memory foam to help ensure proper neck support while sleeping.

S$588, Buy here

For your bathroom: KOHLER Veil Intelligent Toilet

If you’re ready to purchase a big-ticket item, you can go all out with KOHLER’s wall-hung intelligent toilet that helps you save on floor space. With this smart home must-have, you can count on features like a self-cleaning function that uses UV light, a warm-air drying system, and an automatic deodorization system.

Buy here

For your bathroom: Simplehuman Rechargeable Foam Sensor Pump

Say goodbye to bulky soap dispensers cluttering your countertop and hello to Simplehuman’s Foam Sensor Pump. This device features a patented air-induction pump designed to inject the perfect number of micro-bubbles into the soap, creating a creamy foam. It also offers volume control, allowing you to dispense the precise amount of soap you need – simply place your hands closer for a small drop or move them farther away for more.

S$155, Buy here

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