The supply chain is a relatively low transparency industry. Due to the long chain, there is information gap between upstream and downstream of the supply chain, and there is room for information to be tampered with and falsified. For example, in the drug supply chain, falsification may occur due to the above reasons. According to media reports, law enforcement officers found several important pages of hidden data at overseas pharmaceutical companies, but computer records have been emptied. More pharmaceutical companies even forge key data in clinical test reports. What we see are only those cases that have been investigated and dealt with by law enforcement agencies. We are not aware of any falsification behavior driven by interest.
Golden Finance interviewed Linfinity’s Singapore team. CEO Anndy Lian talked about the current status of the integration of blockchain and supply chain, and the reasons why Linfinity did not launch ICO.
Anndy Lian has been working in the healthcare industry for the past 4 years. She has worked and consulted with several Singapore listed companies and even government agencies. After joining the blockchain research institute, he studied how to solve the problem through blockchain technology. The problem of medicine, and learn more about blockchain knowledge. He believes that the root cause of drug fraud is still in the supply chain, and the blockchain has the potential to help the supply chain to conduct more transparent and penetrating management.
Therefore, he joined Linfinity, a blockchain application platform that serves the supply chain. Headquartered in Singapore, it has an original blockchain based prototype. In order to interrelate business with each country, Linfinity has also established branches in various parts of the world for a broader commercial deployment. Anndy Lian said: “Our team wants to know more about their culture and what they need to do to better serve these companies and enable them to enhance their capabilities through existing blockchain technology.”
Linfinity is a startup based on blockchain, Internet of Things, and big data technology. It provides enterprise customers with customized supply chain services. The team has served a number of domestic and international Fortune 500 companies in food, tobacco, clothing, and pharmaceuticals. At the same time, LFT token will continue to improve the business ecosystem and expand new and more profitable distribution models under the safe and credible new cooperation model. Whether it is upstream suppliers, manufacturers, logistics, service providers or terminal retail channels can all benefit.
When faced with users in different industries, Linfiniyt will customize different solutions for different companies. “Enterprises raise their questions and we come to plan.” For example, if a pharmaceutical company wants to certify raw materials for pharmaceuticals, they want to acquire raw materials for collection and transportation. Linfinity will provide basic technologies to meet their traceability needs.
In order to more quickly meet the company’s customized services, protect the technical barriers created by enterprises. Linfinity currently uses a private chain developed independently, but in the ecological community it will lead a public chain that can involve a wider range of users and increase community stickiness.
Anndy believes that the decentralization of power conferred by blockchains makes it easier to form communities with certain consensus. However, it is not an easy task to maintain the community, keep the community active and members sticky. It requires both a consensus mechanism and incentives for value.
The supply chain itself is a strongly consensus industry. All members of a supply chain cooperate with each other to achieve mutual goals. The blockchain gives the supply chain higher transparency and data security traceability, greatly eliminating Downstream information in the supply chain, as well as the possibility of evildoing, supplemented by token value incentives, contribute to a unified and free community.
Linfinity is concerned with the role of blockchain traceability in the supply chain, which corresponds to the traceability of commodities in the supply chain. Anndy said that Linfinity’s first concern is how to find and solve problems in the product, and second is to identify the authenticity issues, such as the identification of red wine, because we found that the current food safety issues are very important. Chain technology we can avoid some food safety scandals, such as the Chinese Sanlu milk powder incident, if the user can identify the authenticity of the blockchain technology, many food safety tragedies can be avoided.
“The entire supply chain is very large. Of course, we can’t do it all together. We mainly focus on the work of the anti-counterfeiting part of the next level, because only when the customer is sure that the product is genuine, can it be further applied. , such as logistics, storage, recycling, etc. So we now start from the source to ensure the authenticity of commodities before they flow to the market.”
Linfinity does not perform ICO
“We do not plan to carry out ICO because ICO is clearly illegal in some countries, but we do plan to issue tokens, and we hope to be able to tokenize the supply chain.” However, it is strange that Linfinity is not currently planning to issue tokens on a large scale. The main channels for obtaining tokens include community promotion, content creation and distribution, and open source technical contributions.
Anndy told Golden Finance that the company’s operating capital is mainly from investment, but Anndy is not worried about the funding problem, the current funding is sufficient to support the rapid rise of the company, and he is full of confidence in not doing ICO, first ecological approach, “When the company goes public After the transaction can be carried out, these problems will be solved after the economic ecosystem is Tokenized and can be run.”
It is reported that the commercialization of Linfinity has progressed very smoothly. It is planning to sign a memorandum of cooperation with four companies to develop towards different goals. Including companies that provide legal compliance audit support, Linfinity’s local target customers also include accounting, legal, andbankAnd other audit settlement agencies.
In the supply chain, each is staking their enclaves, and the giants are also running blockchain + supply chain pilots. It seems that resources and space are not enough, but Anndy believes that the benefits of start-ups are more flexible and efficient in research and development. Can provide more personalized solutions for B-side customers.
“even ifAlibabaSuch a giant cannot quickly establish a blockchain + supply chain system. Anndy hopes to adopt a robust strategy: “Step by step, step by step, gradually introduce a company to the blockchain system. The first step is to let them understand that blockchains help companies in saving costs and improving transparency. This is a long process. The Linfinity team is actively promoting cooperation and popularizing the block to more enterprise users and giants. Chain, while more accurately reach the target user.
The most recent major goals and activities of Linfinity will mainly be in Singapore, South Korea, and Taiwan. “We will work hard to negotiate and cooperate with Singapore and other local governments and agencies to further promote the development and landing of the project.”
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- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.
Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. 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.
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”.