Reuters Special Report | LINFINITY – Blockchain-based Singapore Company to Curb Fakeries

On January 2, 2019, Reuters, one of the four major international news agencies, published a special report on LINFINITY, entitled Blockchain-based Singapore Company to Curb Fakeries. The article described how LINFINITY uses blockchain technology to build a trustworthy business ecosystem to solve the problems posed by counterfeit goods, and promotes the development process of its own commercialisation through both continuous cooperation with various Small and Medium-sized Enterprises (SMEs) and its commitment to innovative blockchain research and development.

(LINFINITY on Reuters)

The article explains that the proliferation of counterfeit goods has always been a global problem. The annual direct losses caused by fake goods in the world are as high as several billion dollars. For those SMEs that are in the process of greater development, they not only need to spend significant amounts of time and energy to alleviate the problems caused by the proliferation of fake goods, but also have to take into account the pressure of the company’s own business expansion – which results in a vast majority of SMEs failing entirely. The culprit is not the “fake market” as an entity, but instead is the result of a series of traditional supply chain structures behind it that have fallen into disrepair and disrepute. The Singapore-based blockchain company LINFINITY hopes to utilize blockchain’s security and traceability features to continuously update and optimise their homebrewed answer to the problem of fake goods, LINFINITY DApp, through deep cooperation with traditional businesses, thus building a LINFINITY business ecosystem of “blockchain + supply chain” industries, which hopes to solve the pain points inflicted upon these industries by the scourge of fake goods.

In November 2018, Japanese haircare brand Herbriller officially signed a MOU with LINFINITY, which will provide a full range of blockchain services for the Herbriller series of products. Through information on-chaining, product information is packaged and uploaded onto LINFINITY’s blockchain within DApp, and a unique QR code containing product information is generated accordingly to the product in question. By scanning a given Herbriller item with LINFINITY DApp, product details saved in the blockchain can be queried and reviewed, allowing for individual consumers to see where exactly each product has been along the supply chain. This clever characteristic endemic to blockchain allows for product information to remain open, transparent and completely untamperable by third parties – ensuring the authenticity of products.

It is worth noting that for both Herbriller and LINFINITY, while DApp is one of the most important part of LINFINITY’s business ecosystem, the value of the cooperation is far more than the sum of its parts. In addition to providing users with information about the products on the chain, it can also provide the most authentic sales information from the market, such as sales channels, regions and scope, consumer preferences, and so on – which allows Herbriller to optimise and adapt its own products and marketing strategies to align with market demand. Moreover, in order to reach more consumers and show them the quality that Herbriller has carefully developed and maintained since its inception, LINFINITY has brought Herbriller into the Chinese market, both in an informational sense and in reality – as LINFINITY and Herbriller held a number of offline product demonstrations and experiences in China. “This is just the beginning. With LINFINITY’s rich overseas marketing resources, LINFINITY will bring Herbriller to more countries and even a wider global market,” said LIFINITY CEO Anndy Lian.

He also elaborated on the possibility of the application of blockchain technology, “SMEs may become the first beneficiaries of blockchain commercialisation, and this is entirely dependent on their flexible nature and their willingness to accept cutting-edge technology. LINFINITY will always take the real needs of the market as the starting point, and cooperate with more enterprises to help them complete the improvement and upgrading of their supply chain through blockchain –  and we commit to making unremitting efforts to promote the development of blockchain commercialization.” 

About Reuters:

One of the earliest international news agencies, operating across 128 countries, and currently one of the largest news agencies in the UK, is one of the four major news agencies in the West. It is mainly responsible for providing news sources for other news agencies. Their content is based on all kinds of political and financial data, and enjoys a stellar global reputation for its fast and accurate news. In 2018 the Pulitzer Prize for Feature Photography was won by Reuters.

(The Original Article on Reuters)

Links to original article: https://www.reuters.com/brandfeatures/venture-capital/article?id=71326

For more information about LINFINITY and their future activities, please visit www.linfinity.io or contact pr@linfinity.io.

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新加坡《新明日报》专题报道 | LINFINITY要打破市场迷思 中小企业“上链”不复杂

“中小企业要在传统供应链的架构上打击假货,其实还有很长的路要走。他们不仅得面对压倒性的假货问题,还得面对因消费者购买到假货而产生的信任危机问题。”

——LINFINITY CEO Anndy Lian在新加坡《新明日报》专题报道指出

(新加坡《新明日报》刊登LINFINITY项目专题报道)

12月18日出版的新加坡《新明日报》刊登了LINFINITY项目专题报道——《LINFINITY要打破市场迷思—中小企业采用“区块链”不复杂》。文中分别从“LINFINITY的项目优势”、“协助供应链打假”、“LINFINITY Dapp商业化应用”与“LINFINITY国际化发展”四个方面进行了详细概述,深入浅出地描绘了LINFINITY所要构建区块链生态的商业蓝图。

文中指出,虽然区块链技术从诞生发展至今,其强大的去中心化能力,得到了行业的普遍关注与认可,但究其本身科普的匮乏与近年来的过分炒作,使得大多数行业对区块链“作壁上观”,即使愿意尝试的企业也因对其不够了解,而望洋兴叹。而LINFINITY正是基于此,欲向外界表达“区块链技术并不复杂”的核心观点,借用LINFINITY CEO Anndy Lian的话,“企业并不需要把整个业务信息都‘区块链化’,只需根据自身需求为必要信息进行‘上链’即可。”它不仅可以帮助企业打击假货,还能对传统供应链进行优化升级,使其变得安全、透明且高效;同时,企业也能对供应链各个环节有一个清晰的把控外,精准收集市场信息,了解最真实的市场需求。

LINFINITY Dapp是LINFINITY生态的基石,也是其商业化落地的重要一步。经过LINFINITY技术团队不断开发与优化,LINFINITY Dapp beta 1.0已经正式推向市场,继新加坡灵芝品牌Scientific Tradition后,LINFINITY还为日本护发品牌Herbriller完成信息上链服务。通过配合LINFINITY Dapp的使用,消费者便可查询商品的详细信息与资讯;同时,为了让中国的消费者更加了解Herbriller与其优质的产品,LINFINITY也将Herbriller的系列产品带到了中国,并在高端美发尚龙与零售店进行线下试点与推广。随后,LINFINITY还将进一步为其提供区块链防伪及溯源方面的支持,使得在行业中的品牌形象更加稳固。

与此同时,LINFINITY团队也一直积极拓展中小企业市场。今年七月LINFINITY举办了新加坡中小企业区块链专场—“2018 Blockspace Asia论坛”,席上 LINFINITY 携手新加坡政府部门共同为中小企业的区块链转与发展型提供支持。Anndy指出“虽然中小企业的灵活性和适应力很可能让他们成为区块链商业化的第一批受益者,但区块链的商业化进程单靠商界是不够的,我们需要与来自政府的力量共同合作推进。”此前,他被韩国庆尚北道委任为“韩国庆尚北道区块链特别委员会”委员,并将与比特币基金会总裁Brock Pierce,驻韩美国商会主席Jeffrey Jones,亚马逊联合创始人兼R链开发总监Jonathan Kochmer,美国霍普金斯医学院AI活性医疗联合创始人Annastasiah Mhaka等众多区块链行业顶级项目发起人、创始人与领袖精英一起参与到韩国庆尚北道区块链发展规划与布局之中。LINFINITY将在供应链防伪溯源技术方面提供全方位支持,这也是迄今为止区块链项目中,为数不多政商合作的新机遇与商业案例。

(新加坡《新明日报》报道原文)

新明日报(ShinMin Daily News)


新民日报成立于1967年,是由新加坡报业控股(SPH)出版的新加坡中文晚报,侧重于报道社会民生新闻与商业观察方面的内容,为读者提供有关当地和重大国际问题的最新信息,与联合早报并称为东南亚两大华文主流报纸。

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Singapore Shin Min Daily News: LINFINITY Breaking Marketing Myth—Information On-chaining is Not Complicated for SMEs

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

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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 pr@linfinity.io.

 

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