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Technologists at Singapore banks are starting to work on Web 3.0 projects, with DBS drawing people from across the firm to launch a new Web 3.0 platform.

DBS has partnered with decentralised gaming virtual platform, The Sandbox, to launch what it terms “an interactive metaverse experience”. Called DBS BetterWorld, DBS will acquire virtual real estate within The Sandbox metaverse, which will then be developed with immersive elements.

To help bring the Web 3.0 project to life, DBS assembled a cross-functional team, including technologists, from across the bank, a spokesperson told eFinancialCareers. The partnership provides an opportunity for DBS’s technologists “to be deeply involved in developing a compelling and meaningful use case in The Sandbox”.

The project contributes to the bank’s ongoing efforts to groom the next generation of tech talent who will help DBS move toward the use of new and emerging technologies," says the spokesperson.

"These kind of projects tend to be nice-to-haves on your CV now, and they make for good PR for the bank. But they also get your foot in the door of emerging tech, so they're good for future career growth," says a Singapore-based tech recruiter.

DBS has long been a pioneer when it comes to the adoption of emerging technologies and workforce transformation. It embarked on a multi-year organisation-wide digital transformation journey in 2014, and now operates multiple projects and initiatives which harness emerging technologies such as blockchain, artificial intelligence (AI)/machine learning (ML) and cloud technologies. “Today, we have twice as many engineers as bankers,” says the spokesperson.

OCBC has also been expanding its Web 3.0 capabilities. This year, the bank launched a new e-learning platform that gave its technologists access to over 8,000 courses, including Web 3.0 modules in software development, cloud computing, machine learning and AI.

Singapore’s second largest bank announced plans in March to hire 1,500 tech professionals to fill in-demand positions over the next three years, with roles in areas such as application development, data science and artificial intelligence.

Photo by Sandro Katalina on Unsplash

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