Blockchain and Bluemix technologies to help SMEs raise their productivity and
competitiveness
SINGAPORE – 15
March 2017 – IBM (NYSE: IBM) today announced Singapore fintech start-up,
INVICTUS, is collaborating with them to leverage IBM Cloud and Blockchain
technologies for their Order, Logistic & Payment (OLP) platform. The
platform aims to help businesses reduce wastage, redundancy and cash-flow
issues in their transaction processes by disrupting the supply chain management
cycle with blockchain smart contract technology.
As
part of this collaboration, INVICTUS is also working with the IBM Bluemix
Garage in Singapore to design a distributed ledger platform prototype on the
Hyperledger Fabric, aimed at managing transactions between small and medium
enterprises, suppliers, banks and other liquidity providers.
As a
founding member of the Linux Foundation’s open-source Hyperledger Project, IBM
is helping to build the foundation for business-ready blockchain architecture
with a focus on privacy, confidentiality and deliver amazing experiences to
their customers by helping them identify and build the right app on Bluemix.
“INVICTUS
offers more than an e-procurement platform. We focus on taking the chronic pain
out of the last mile of a transaction by expanding access to financing from
third party liquidity providers, in addition to banks. Through our blockchain
smart contract technologies and working collaboratively with IBM, we hope to
disrupt this last mile by enabling secure and cashless financing as early as
the PO stage,” said Mr Lim Soon Hock, Chairman of INVICTUS.
“Being
a start-up ourselves, we know running an enterprise with limited resources can
be challenging. Working with the IBM Bluemix Garage team has been an
eye-opening experience in showing us how companies can benefit from
technologies such as blockchain which has the capabilities to improve
operational efficiency and reduce transaction risks. We are very excited to see
how our offerings will help SMEs become more productive and competitive,” said
Jeffrey Lam, Chief Operating Officer & Vice-President of Sales of INVICTUS.
“Blockchain
technology presents opportunities for disruptive innovation. It enables
businesses to transact with less friction and more trust. Through IBM
Blockchain, we are empowering businesses to digitize transaction workflow
through a highly secure, shared and replicated ledger. We have seen significant
success in the work we have done with startups and how it has benefitted both
their business and their clients,” said Alan Lim, Practice Lead, IBM Blockchain
& Bluemix Garage, ASEAN.
Blockchain
is one of the advanced services available to developers on Bluemix, on which
more than 120,000 apps are launched every month. Since its launch in 2014, IBM
Bluemix has rapidly grown to become one of the largest open, public cloud
deployments in the world. Based on open standards, it features over 150 tools
and services spanning categories of big data, mobile, cognitive computing,
analytics, security, blockchain and Internet of Things.
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