“SMEs still have a long way to go to crack down on fake goods under the framework of traditional supply chains. They have to face not only the overwhelming problem of fake goods, but also the crisis of trust caused by purchased fake goods.”
—LINFINITY CEO Anndy Lian, Singapore Shin Min Daily News, December 18,2018
(Singapore Shin Min Daily News)
On December 18th, the Singapore Shin Min Daily News included a special report on LINFINITY’s latest project, entitled LINFINITY Breaking Marketing Myth—Information On-chaining is Not Complicated for SMEs. The article focuses on the “Advantages of LINFINFITY”, “Assisting Supply Chain Anti-counterfeiting”, “Commercial Application of LINFINITY DApp” and “LINFINITY Internationalization Development”, describing the business blueprint of a blockchain ecosystem that LINFINITY hopes to build.
The article’s main point of order is that due to the inherent advantage of decentralisation, blockchain technology has been given wide attention and international recognition by both the financial industry and the general public since its inception. However, despite this fame, there is still a dearth of blockchain knowledge in the public domain, and excessive speculation by governments and media in recent years – including excessive media hype over its extrinsic link to illicit enterprises through cryptocurrency, including darkweb markets, human trafficking operations, and the illegal drugs trade – has resulted in most industries that would benefit from the system being reluctant to adopt the technology. The remaining enterprises that are willing to adopt blockchain into their system operations, try as they might, have next to no idea where to start, due to this aforementioned lack of understanding and media scaremongering.
It is based on this that LINFINITY expresses to the outside world the core view that “blockchain technology is not complicated.” LINFINITY CEO Anndy Lian explains this position in the article: “When adopting blockchain technology to internal operations, enterprises have no obligation to upload information on the entirety of every business process, but only to package and upload the necessary information on their products, services, clients or infrastructure, according to their own needs.” This laissez-faire approach to blockchain integration not only helps enterprises to crack down on fake goods, but also to optimise and upgrade the traditional supply chain to a safer, more transparent and exponentially more efficient version. In addition to allowing enterprises to have a clear control over all aspects of their supply chains, enterprises would also be able to accurately collect market information, and therefore gain a clearer understanding of the real market demand for their industry.
In addition, the article focuses on the success of LINFINITY’s cornerstone product, LINFINITY DApp, which is the most important aspect of the company’s ecosystem and signifies an important step towards blockchain commercialization – its first beta iteration has been developed, optimised, and now launched onto the market. After the success of LINFINITY’s work with the medical conglomerate Scientific Tradition, LINFINITY has conducted informational on-chaining services for the Japanese haircare brand Herbriller; with the use of LINFINITY DApp, consumers can query detailed information about products that they have purchased. As an added bonus to this, LINFINITY successfully assisted in bringing Herbriller’s series of products to mainland China, which has naturally given Chinese consumers a clearer look at the world of premium haircare products and promoted Herbriller as the best in the business. LINFINITY hopes to provide further blockchain-based anti-counterfeiting and traceability support to Herbriller during the next stages of their partnership, with the aim of making its brand image in the industry more stable.
“The flexibility and resilience of SMEs will make them the first beneficiaries of blockchain commercialisation,” Mr. Lian states. It is this key belief that underpins the whole of what LINFINITY stands for – and they have been extremely active this year in expanding the market for SMEs. As early as July this year, LINFINITY launched the Singapore SMEs blockchain special conference, 2018 Blockspace Asia, and teamed up with Singapore’s government agency Enterprise Singapore to provide technical support for the blockchain transformation of SMEs.
“The commercialisation of blockchain cannot be achieved by the business community alone. We need to work together with governmental and international forces,” added Mr. Lian. As a member of the Gyeongsangbuk-do Blockchain Special Committee in South Korea, the LINFINITY CEO will collaborate with senior project sponsors, founders and leaders of blockchain industries, such as Brock Pierce, Chairman of the Bitcoin Foundation; Jeffrey Jones, President of the American Chamber of Commerce in Korea; Eyal Oster, CEO of Momentum; and Annastasiah Mhaka, Co-Founder of the Alliance for Artificial Intelligence in Healthcare, to participate in the blockchain development planning and layout of the Gyeongsangbuk-do region, so as to advance this new opportunity for political and business collaboration in the advancement of the commercialisation process of the blockchain industry.
(LINFINITY on Singapore Shin Min Daily News)
Shin Min Daily News
Founded in 1967, Shin Min Daily News is a Singapore Chinese Evening News published by Singapore Press Holdings (SPH), focusing on social life and business observations and providing readers with up-to-date information on local and major international issues. Shin Min Daily News and Lianhe Zaobao are regarded as two major mainstream Chinese newspapers in Southeast Asia.
For more information about LINFINITY and their future activities, please visit www.linfinity.io or contact email@example.com.