Since the first day of the birth of blockchain, the attention and discussion on it from all walks of life have never diminished. This is not only because it has created Bitcoin or encrypted currency, but also because it has the ability to transform traditional organizations and the huge business opportunities that come with it.
Linfinity is undoubtedly the pioneer and practitioner of landing of blockchain technology application. In different countries and regions, linfinity has held several round tables aimed at the development of blockchain industry, which not only attracted the participation of many blockchain enthusiasts, but also brought together many experts from finance, investment, hotels, real estate and other industries and put forward many insights of blockchain on the development of traditional industries.
How will blockchain change our lives?
“Blockchain technology is undoubtedly a change for the whole industry. Blockchains and encrypted currencies are irresistible trends. For example, in terms of food safety issues, if the blockchain technology appears early and can be landed and applied for promotion, the problems of dairy products and mad cow disease beef may all be solved.”
— Elaine Chia, Associate Director, Bank of Singapore
Distributed structure and traceability are the two biggest characteristics of blockchain. Linfinity achieves mutual authentication of information in each block through information onchain. This has the advantage that no matter where we are, we can view and trace the information we want to know, and this information is credible, open, transparent, secure and cannot be tampered with by human beings.
This technology is suitable for a variety of industries, especially for the food industry, fast-moving consumer goods industry, luxury industry, financial industry, pharmaceutical industry, etc. As long as the product information of these industries goes “onchain”, consumers can check and verify the authenticity of the information in all circulation links they exist. However, traditional industries cannot realize this in the anti-counterfeiting aspect.
Blockchain: bane or boon?
“Based on the special properties of the real estate industry, there are a lot of capital flows and transactions occurring every day. It is extremely urgent to introduce blockchain technology.”
— Edward Tan, Real Estate Consultant, Seed Global Investment
Since the first day of its birth, blockchain has faced the dilemma of “mixed reception”. All this stems from people’s failure to have a clear understanding of the blockchain technology. The “boon” and “bane” of blockchain do not depend on the block chain itself, but lie in how ” we” correctly use this new technology to bring its due value into play.
The advantages of blockchain technology are not only reflected in the transparency and traceability of transactions, but also expected to simplify the management process and improve the management efficiency. For example, embedding a blockchain into a bank or financial system can make loan financing well documented and safe and efficient.
Regardless of whether blockchain is a boon or a bane, it is worth affirming that it has indeed accelerated the development process in some fields and industries, which is why Linfinity has begun to provide block chain solutions for the supply chain industry.
Ico: is it legal?
Recently, fraudulent companies have defrauded investors of millions of dollars through ICO, which has become a headline news. Fraudulent companies usually used various “ unwarranted” white papers or found so-called “celebrities” in the currency circle to endorse themselves and peddle air coin to illegally raise funds, thus seriously infringing on investors’ asset rights and interests. So people began to criticize block chain and even remained hesitant and skeptical about the application of the block chain.
“The number of digital token exchanges and ICOs continues to grow. If a one-size-fits-all approach is adopted, it is bound to hurt those block chain enterprises that abide by the law. However, she also pointed out that the introduction of policies and regulations on ICO projects should be expedited so as to promote the healthy development of the industry.”
— lLee Boon Ngiap, Deputy General Manager of Capital Markets, Monetary Authority of Singapore (MAS)
Linfinity only focuses on the popularization and landing of blockchain technology, so it does not intend to carry out ICO financing. We believe that all financial tokens should run according to all its own rules, only in this way can we truly benefit the entire industry by using the “token model”.
Practical Application of BlockChain Technology
To date, Linfinity has signed strategic cooperation agreements in Singapore with a number of international enterprises including Crossinvest, RHTLaw TaylorWessing LLP, RHT Holdings, RONGDE Logistics, Scientific Tradition and WealthBriefingAsia, and will reach more cooperation in the two regions.
These agreements mark that Linfinity has begun to build a reliable and traceable supply chain ecology based on the blockchain system, which will transform the blockchain technology from concept to reality. The scope of these cooperation agreements covers finance, law, logistics, fast moving consumer goods, etc. the companies that cooperate with us will use Linfinity’s block chain technology to improve the efficiency and transparency of their own enterprise supply chains.
In addition, Linfinity signed a strategic cooperation agreement with Alishan Group in Taiwan. According to the agreement, Linfinity will build a “bridge of integrity” with traceability & anti-counterfeiting between the enterprise and consumers.
“The blockchain will change people’s lifestyle and the future development of many industries just like paper making, printing and even internet technology.”
— AnndyLian, CEO of Linfinity
Anndy Lian is an inter-governmental blockchain advisor with more than 15 years of experience in Asia. He has provided advisory across a variety of industries for local, international and public listed companies.