The SBRF is akin to Singapore’s Central Bank MAS’s Investor Alert List, whereas SBRF is focusing on entities that are blockchain firms or claim to be a blockchain firm or having use case utilizing blockchain.
The blockchain firm will be assessed on a few criteria and evidence to prove whether there is indeed a blockchain’s use case. Questions such as the following will be asked:
- Biggworld (Status: Red Flag) – Entity has not responded to IBS’s questions since 1 Oct 18.
- JioJioMe (Status: Red Flag) – Entity has not responded to IBS’s questions since 1 Oct 18.
- Success Resources’s Success Life (Status: Pending since 18 Oct 18)
- Zuen Chain (Status: Pending since 18 Oct 18)
Pending Verification – Entity is suspected to have no true use case of Blockchain, while IBS is in the process to verify the status.
Red Flag – Entity has no true use case of blockchain or avoided answering questions posed to them, consumers/investors have to do their own due diligence before dealing with the entity.
Companies listed in SBRF can write to email@example.com to appeal your status for consideration to be removed from the list.