Turbotodd

Ruminations on IT, the digital media, and some golf thrown in for good measure.

Singapore Fintech Startup INVICTUS To Use IBM Blockchain and Bluemix

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The IBM blockchain momentum continues to build.

IBM has announced that Singapore fintech startup, INVICTUS, is collaborating with the company to leverage IBM Cloud and blockchain technologies for their Order, Logistic & Payment (OLP) platform.

The platform aims to help business reduce waste, 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.

“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 is one of the advanced services available to developers on Bluemix, on which more than 120,000 apps are launched every month. 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.

You can learn more about IBM blockchain solutions here.

Written by turbotodd

March 15, 2017 at 9:19 am

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