Linfinity: using blockchain to help SMEs

Singapore, 27 July 2018 – Blockspace Asia, powered by Linfinity and co-organised by Pinc and Blockvital, took place with great fanfare on 27 July in Singapore.

The event drew industry heavyweights such as Huobi Global and Blockvital, and featured shrewd discussions centered around how to use blockchain to promote the development of small and medium-sized enterprises (SMEs). It attracted over 200 people.

Enterprise Singapore business advisor Qamarul Solihien was invited as a keynote speaker. Enterprise Singapore is a statutory board under the Ministry of Trade and Industry in Singapore. It was newly formed three months ago to champion enterprise development.

Solihien said, “As a country friendly to the development of blockchain technology, Singapore will continue to encourage using blockchain to help small businesses grow. By closely monitoring industry standards and quality, Enterprise Singapore will increase worldwide confidence in Singapore’s products and services. This will build Singapore into a global trade and startup hub.”

 

The event also saw candid panel discussions on the blockchain industry’s current state, and pertinent investment and security issues. Panelists include industry leaders such as Huobi Global senior director Wu Xing, Cryptovalley Singapore advisor Rennie Sng, and BCoin CEO Davy Goh.

 

Linfinity CEO Anndy Lian said in his keynote speech, “The flexibility of SMEs made them the first benefactors of blockchain. Compared to big companies, SMEs can integrate blockchain more easily into their supply chain management systems. This adds more value to what they are doing and helps them to improve brand image.”

 

Fashion industry to be enhanced by blockchain

At the event, Linfinity signed memorandums of understanding (MOUs) with three Singapore-based fashion retail companies: Pinc, Lovefreya.co, and Feso Asia. Linfinity, a pioneer in using blockchain in supply chain management, will provide these three companies with technological support in supply chain management using blockchain-based solutions.

Lian said, “We are excited to be able to provide blockchain technological support to these fashion platforms. Linfinity will use blockchain to enhance the global fashion industry. We are confident that we can demonstrate the effectiveness of blockchain in reducing counterfeit products. Blockchain’s transparency and immutability will ensure products’ quality, while protecting and advancing companies’ brand image at the same time.”

 

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