Linfinity CEO Anndy was interviewed by JINSE Finance recently, he suggests that the integration of cutting edge technology instancing blockchain, supply chain and AI will present us a world where the performance of source-tracking+IoT reaches a new high.
Anndy Lian was already a shrewd businessman with multiple commercialization success before stepping into the realm of blockchain. His international insights and vision in supply chain industry come from his Singapore-originated commerce company, eight years in Korea and trading experience of more than 30,000 goods. His background also tells him that the supply chain market is long craving for something which helps fix this long existing pain point- a lack of trust.
The emergence of blockchains gives Anndy enough space for imagination, and this distributed structure and traceable technical features seem to have provided the possibility of solving the ‘pain point’ of the traditional supply chain – thus his blockchain journey with Linfinity has officially started.
Covering the whole process of commodity production to realize the in-dept tracking
To solve the ‘pain point’ of supply chain is to build a credible supply chain ecosystem. Anndy has set 3 main directions for Linfinity.
Tech service: Relying on the past IoT advantage, to integrate the supply chain, blockchain and artificial intelligence to achieve the core value of technical service.
In-depth commodity source-tracking: From raw materials to warehousing, then to the whole logistics with thorough blockchain coverage, so that traceability with blockchain maximizes the effectiveness of anti-counterfeiting.
Recyclable ecosystem: Use blockchain to track goods in the whole life cycle for better recycling and environmental protection.
In such a system, we can understand and verify the details of every node from the source to the terminal only by scanning the code.
“Linfinity’s traceability to drugs , cosmetics and tobacco has been relatively mature . Although the two-dimensional codes don’t look much different physically, yet there is no two same codes in the world when blockchain technology is applied. Each is recorded on the chain, which has been greatly improved for traditional anti – counterfeiting, ” says Anndy.
Linfinity has already been strategic partnership with eight enterprises, and more companies will be involved. At early July, during the Asian Blockchain Summit held in Taiwan, Linfinity and Taiwan Alishan Group signed a strategic cooperation agreement, which will provide blockchain anti-counterfeiting technology for its cigarette brands and effectively eliminate counterfeits from the market. In August, Linfinity will expand the business to the UK , mainland China , Taiwan area of China, etc ., and Linfinity’s service will be combined with multiple products in different supply chains.
Three in one” makes the idea of blockchain plus IoT more realistic
At present, there are many companies in the blockchain+IoT field, but due to the disconnection between technology and industry, many people think that moving such a large IoT into the blockchain seems to be somewhat “emptiness”.And Anndy who takes “blockchain + supply chain + AI” as a pragmatic key, is convinced that the current practice is moving towards the initial goal:
“I never doubt the value of the IoT+ blockchain. Nowadays, companies of all sizes have not really understood how IoT can promote their business.In other parts, perhaps because there is not a broad perspective or there is not enough money to put the idea of blockchain + IoT into practice, I think this is why some people think that IoT is not reliable.”
Anndy believes that people can’t work alone if they hope IoT can play great potential under the blockchain. Many people say that they don’t believe in IoT, but in Linfinity’s philosophy, IoT should have a clear direction in the future, and AI+ blockchain is the realistic solution proposed by Linfinity for IoT.
“This combination can greatly increase the frequency and production capacity of IoT, and the entire market can improve efficiency while maintaining sufficient transparency”.Anndy also pointed out that the current efforts of Linifinity are to cultivate the starting industry , he believe that after one year, more applications will be landing.
How to promote the Linfinity business, manufacturer is one of the breakthroughs.Anndy makes more manufacturers understand the great value of blockchain in traceability,then show the company’s overall concept and overall strength, lets the manufacturers drive consumers to participate in the use of Linfinity.
The role of issuing Tokens is first to establish ecology, not ” playing with capital”.
Linfinity made it clear from the beginning that it would not do any ICO projects.
“LFT Tokens are not for sale. If you issue 70% of Tokens to the market, you can’t control the value. There are definitely a lot of people going to speculate. The role of Tokens must be to provide a reasonable stimulus for the construction of ecology, and we still have to focus on industry, so the control of Tokens is stricter. We just made a Token-based economic model, and our fans can get Token rewards by scanning the code using the Linfinity system.”
Anndy believes that Token is a “binder” that binds the interests of manufacturers and consumers tightly to achieve a win-win situation. For the cooperation with the manufacturers, Anndy has generously presented Tokens, which aims to let the company do several rounds of experiments in the environment of Linfinity to verify and improve the whole system.
At present, Linifinity has a team of more than 60 people all over the world. They have targeted the development of markets in various countries and regions, covering different types of goods such as food, medicine, tobacco and coffee. With more and more landing scenes, Anndy is very confident about the value of Tokens.
“Because we are directly facing the enterprise, only when the value of Tokens is increased, it is possible to further stimulate the enthusiasm of the manufacturer to use the system. Therefore, in order to make the LFT such an Untility Token really work, we should also be cautious about the Token’s value.”
Anndy tries to convey the long-term value of the blockchain to people, and will continue to work to change the existing industries with blockchain, solve the pain points and achieve a win-win situation.
Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.
An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.
You can read more about Anndy’s work at www.anndy.com