Anndy Lian Featured on Supply Chain Asia Magazine- Beyond the hype: how blockchain is already revolutionising the supply chain

“Blockchain is indeed revolutionising the supply chain. This technology has proven its importance, especially in this COVID-19 period. Let’s get started and be part of this revolution.” Anndy Lian has also added that he did not know that his article was published in Supply Chain Asia Magazine in 2018. He only got to know about this when he was catching up with his previous colleague.

“When I read the article now, I think it is still very relevant. The primary risk to food security is now on a global level. Blockchain technology’s track and trace is vital and will help to reduce such risks. This technology can also increase consumers’ confidence level when they deal with future food sources. In order for this work, we need to let traditional companies know what this technology can do for them and blockchain companies like Ethereum, Binance Smart Chain, VeChain etc should start to drive more adoption.

You can read the full article below.

Beyond the hype: how blockchain is already revolutionising the supply chain

It’s been a rollercoaster journey for bitcoin investors over the last few months. Valuations soared rapidly to highs of $20,000, creating
worldwide excitement and attracting millions of investors globally, before the price plummeted rapidly back to earth in recent weeks.
Amid the hype and comparisons to the 17th century ‘tulip mania’, it is easy to dismiss the entire blockchain phenomenon as a passing
fad – a nice idea in principle that, in practice, is not the revolutionary new solution its early adopters claimed.

But that misses the point entirely. If you look past the bitcoin bluster, blockchain technology is already having a real, lasting, and truly
revolutionary impact on the most pressing business challenges – and nowhere more so than in supply chain management.
Today’s global supply chain managers face an unprecedented set of new and unexpected challenges. The inexorable rise of globalization
has made supply chains fiendishly complex, and virtually impossible to manage from end to end. Try as they might, a global producer
simply cannot track every stage of the production and supply process.

Take a global fast food producer, for example. It would be impossible for them to know where every tomato, every head of lettuce, every chicken was on its way from farm to factory to table. Likewise for a clothing producer – can they accurately track where the materials in their zips or buttons come from?

Yet – this is what customers demand. The second major challenge facing supply chain managers today is that end users insist on transparency, and this has a ripple effect right through the supply chain. If buyers of my clothes want to wear only ethically produced shirts, then I simply must know where the zips and buttons have come from – and I will have to insist that my producers have that information.
Worse still, in many markets counterfeiting remains a constant scourge. That’s a huge problem for luxury goods producers – and for producers of consumables like food and medicine it can be mission-critical.

The scale of this challenge should not be underestimated. According to a January 2017 Gartner report, pharmaceuticals producers admit that they have limited control over pharmacy supply chains, “making it difficult for them to synchronize the end-to-end supply chain”. As a result, in Africa for example, some reports say that up to 70% of drugs sold are counterfeit. This is where blockchain’s advantage becomes clear.

Using blockchain technology, a product’s journey can be simply and efficiently documented across the supply chain from origin to destination. This technology can deliver to producers and supply chain managers a permanent, indelible and tamper-proof ledger of the entire product life-cycle that is accessible to anyone at any point in the production process. It’s important to emphasize that this isn’t
just hypothetical – it is already happening. At Linfinity, we have implemented systems to help producers of health-related products track their inventory throughout its lifecycle. The set-up process is quick and painless, and in fact can build on many of the technologies already in place. For example, by working with a company’s existing digital labeling methods it is possible to build a blockchain tracking system that can track not just every SKU (Stock Keeping Unit) but every single product in the inventory – right throughout the production process and throughout its life cycle once it leaves the factory.

This may sound suspiciously similar to existing supply chain management technologies, but the key here is how this technology can be adapted over time. We are now building systems where companies will be able to automatically incentivize their producers and suppliers
to join their supply chain management systems through the use of blockchain backed tokens, massively increasing the quality of data at a minimal cost to the company while also driving adoption of integrated tracking solutions. In the future, for example, we believe upstream players will be able to incentivize downstream producers to adopt their tracking technology.

It is also important to bear in mind the opportunity for the end user and how this technology addresses their most important pain point – transparency. Right now, traditional supply chain systems don’t enable the user to track their products. But with a blockchain system, it could be as simple as opening an app and scanning a QR code on your product to get every single record of everywhere that product
has been.

So while it may not yet be time for your company to swap your dollars for bitcoin, now is most definitely the time to get started on implementing blockchain backed supply chain management solutions.

Author, Anndy Lian

Magazine: SCAmag-jul-sep18v2



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Why LINFINITY is the Answer to the Challenges of SMEs

In Singapore, Small-Medium Enterprises (SMEs) are vital contributors to the economy, with 219,000 SMEs contributing S$196.8 billion in gross value. Over the last five years, SMEs have helped generate half of the nation’s growth in gross value added, particularly from the burgeoning industries of food & beverage, manufacturing, retail and info communications.

Source from: Department of Statistics Singapore

Similar figures can be seen in the Southeast Asian region, where SMEs play a crucial part to the region’s Gross Domestic Product (GDP), accounting for more than 95% of all business establishments. However, despite being the integral to the growth of GDP all around the world, the reality is that these businesses must still battle it out in an ecosystem which holds many challenges that are unique to these SMEs.

SMEs today, therefore must look beyond traditional methods and embark on a journey of constant innovation, adapting new enterprise technology to meet their challenges as well as to sustain and accelerate growth.


Small Business, Smart Contracts

Typically, SMEs often concentrate on sustaining the business and increasing the scale of the company, so much so that they lose track of other vital components such as the system and process behind operations, logistics and supply chain. There is therefore a need to put in place a proper system or service that can ensure the growth of the company, whilst taking care of backend operations within the company. Smart contracts powered by blockchain may be one such solution with it being a beginner friendly concept that even the most technology-resistant individuals can embrace. Traditional contracts require the involvement of many parties, as well as the overseeing of a financial institution which smart contracts are free to do away with, acting as a distributed digital ledger.

Smart contracts act as a ledger that ensures each transaction is irrefutable and enforceable, while streamlining the procedures behind the business. With LINFINITY, blockchain technology can be used to implement contracts and monitor any other transactional activity between various parties in the total supply chain network, allowing SMEs to save cost on unnecessary steps and measures in the governance of their supply chain belt.


Security and Privacy

Passing through many hands within the total supply chain network, confidential and important information is always at risk. With blockchain enabling it to serve as a decentralized, distributed digital ledger, tracking and recording all aspects of exchanges, agreements, transactions and payments, information will be safeguarded in specific blocks, each linked to one another. Blockchain therefore serves as a protected platform where sensitive and private information would not have to be divulged despite multiple copies of this ledger being made available to different stakeholders benefiting SMEs who hold large amount of private information. In addition, this further ensures the security of any information that is present on hand, as it is kept away without any intermediaries involved. In the event of an encounter with legal disputes, the information stored on the chain could even serve a purpose, acting as legal evidence for regarded cases. People may forget and digital material can be hacked, but contracts and information stored on the blockchain can never be changed and altered.

LINFINITY serves to be able to allow companies that have many different individual parties in their entire supply chain network, to have access to a single platform where the records are kept and safeguarded. Companies can have the option to manage their own blockchain with LINFINITY providing the blockchain technology or have LINFINITY aid in the management of their supply chain together with the full belt on LINFINITY’s chain to help smoothen the processes.


Supply Chain Finance Efficiency

Despite the importance of SMEs in contribution towards a nation’s GDP growth, SMEs often face issues accessing credit at the various points of the business when necessary. Due to being relatively young in nature with regards to incorporation, SMEs may not have a substantial track record on their credit history for banks to acknowledge, when requiring financial assistance. With supply chain financing, it can enable SMEs to have access to more financing at a lower cost. But even with supply chain financing, it comes with its own set of problems and blockchain may just be the answer to it.

Problems that may arise include, the cost of borrowing for the SME to be unfavourable for them depending on the buyer’s bank, and a lack of transparency in transactions hence affecting tier 2, tier 3 suppliers. LINFINITY is embarking on implementing blockchain technology for supply chain finance that can greatly benefit SMEs. Such benefits LINFINITY can bring in the supply chain finance include a reduction of processing time while ensuring transparency and security and the inability for manipulation by parties. This further ensures increased control, speed, reliability and authenticity of each the total supply chain network.

In addition, with the introduction of blockchain, it creates a token economy that enables the transaction of public goods and monetary assets to be more fluid. With stakeholders within the total supply chain network being active adoptive users, it will result in the value of the token economy to increase. This creates an established ecosystem where the tokens could be redeemed for various assets by members and users of the platform.


SMEs Employing Blockchain

Technology is moving fast, and we are currently living in what is popularly termed as the fourth industrial revolution. It is the age of the Internet of Things (IoT), Artificial Intelligence (AI), Big Data, Cloud Computing, and even digital banks. Companies and businesses that are serious about growth are currently scrambling to understand this new technology, trying to determine how it will evolve in the future.

This however is where SMEs retain a significant edge. Being smaller, these companies have proportionately smaller systems and networks, making them nimble, being able to adapt and take on blockchain technology quickly with relative ease. It’s a different story for MNCs such as Alibaba for example, where integrating just a minor feature into the entire system would require good long period for the company to adapt.

Moving forward, LINFINITY is not just looking at large, global scale clients, but is also paying special attention to SMEs, especially those in the FMCG sector, helping them to adopt blockchain technology into their own company’s supply chain. LINFINITY has been playing an active role in being involved in the application of blockchain in supply chain networks with various SMEs and their respective business models, advising and providing their expertise in the field.


Striving Towards Adoption of Blockchain in Singapore

In August, LINFINITY hosted a roundtable discussion in Singapore that was held with industry leaders and entrepreneurs, covering various topics such as the potential of blockchain in enabling SMEs. Teo Ser Luck, member of Parliament, shared his sentiments on the revolutionized offerings blockchain can have for local SMEs in terms of not just meeting pain points and filling the gap, but its potential in disrupting traditional markets.

The Singapore government has taken steps in recognition of the need for adoption of enterprise technologies solutions for local companies with specific grants catered towards SMEs such as the SMEs Go Digital grant and Technology Adoption Programme. With such grants that allow SMEs to build stronger digital capabilities through the adoption of various technologies, such as Blockchain, IoT and AI, each of these technologies come together to work together cohesively and complement one another and elevate SMEs to be part of the digital economy.

Nobody really knows where the above-mentioned fourth digital revolution will bring our society. However, we need pioneers to push the technology forward regardless. LINFINITY is ready and has stepped up to be one of these pioneers in the Singaporean landscape, and have begun spreading their reach abroad, launching forums and talks across London, Tokyo, and Seoul.


For more information about LINFINITY and their future activities, visit, or contact [email protected]


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快消品行业的供应链所涉及环境非常多样,虽然这样的分工结构可以将协作的效率最大化,但伴随而来的信息数据安全问题也同样值得引起重视。分布式结构和信息可溯源,是区块链技术最大两个特点。依托于区块链技术,中小企业可实现对商品信息数据,从生产到终端所有环节的把控。除此之外,这些上链信息基于区块链的本质特点,还具有一定的法律依据效力,近来,第一张区块链发票已经诞生,这也是国家层面对于区块链技术的认可。 LINFINITY 旨在通过区块链技术建立一套值得信赖和可追溯的防伪供应链解决方案。在这套体系中,我们很容易查看如原材料供给、物流、配送等具体情况。它在降低供应链管理成本的同时,也增加了商品流转的安全性。


尽管中小企业对于国家经济增长有着重要贡献,但中小企业也面临着融资贷款难的问题。这是由于银行对于中小企业不信任造成的。 LINFINITY 正着手于供应链融资方面的区块链技术,将融资借贷信息上链,为企业提供可信、有效的金融借贷数据。这将极大地造福于中小企业,如减少处理时间,确保借贷信息的透明度和安全性,进一步解决了中小企业融资的速度、真实性和可靠性问题。


物联网、人工智能和区块链毫无疑问将会成为未来社会科技发展的方向,这些基于大数据的新科技,将会又一次掀起新一轮的产业革命。 LINFINITY 所要完成的就是将这些新兴科技有机的融合在一起,构建起一套完整的商业生态平台,帮助中小企业完成认知升级与技术的迭代。

LINFINITY 始终专注于区块链的普及与商业化推广,目前已经在韩国、新加坡、日本、英国等诸多国家以TALK、FORUM和圆桌会议的形式举办了多场线下活动。正如,新加坡前人力部及贸工部部长、新加坡国会议员张思乐先生所说的那样:“区块链不仅可以为中小企业带来革命性的高新技术,还填补了传统行业管理方式上所不能解决的空缺与痛点。”让区块链技术、人工智能、物联网相互配合,相辅相成,使中小企业进一步为国民经济增长做出巨大贡献。


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Blockchain Cannot be Developed behind Closed Doors

To change the real world, blockchain companies need to step out of blockchain world.

The blockchain industry does not lack hype, for sure. New blockchain companies seem to spruce up every single day. Initial Coin Offerings (ICOs) raised more money in the first three months of 2018 than the whole of 2017, according to data collected by CoinDesk.

However, blockchain is still a distance away from mass adoption. The technology remains in a nascent stage and has not impacted people around the world yet, which has led many to question whether the world can really be transformed by blockchain.

Linfinity CEO Anndy Lian believes that in order to speed up the tapping of blockchain’s potential, blockchain companies need to proactively try to merge their technologies with traditional businesses and industries, especially those that are less digitalised at the moment.

He said, “The appearance of blockchain provided traditional industries with unlimited heights of imagination. However, there are many problems that blockchain needs to overcome first.

“It cannot work behind closed doors, as its first-priority role should be a technological service that is integrated with traditional industries. In this process, blockchain technology can continually be upgraded.”

A wider audience

Integrating blockchain with traditional businesses and industries will, most importantly, let it reach a wider audience.

The value of the blockchain market is estimated to be USD 550 million this year. While the size of the industry is rapidly increasing, it is hardly comparable to already established industries.

For example, Linfinity aims to provide blockchain-based solutions for the supply chain to make the supply chain industry more transparent and secure. The global supply chain management market size is worth around USD 14 billion now, making it 25 times as large as the entire blockchain market.

Hence, when Linfinity integrates blockchain into supply chain management, it opens up blockchain to a whole new paradigm of possibilities and business use-cases. By combining blockchain effectively with pre-existing technologies to help traditional businesses, it brings blockchain directly to the masses, rather than having blockchain stay within specific circles.

The blockchain process of transacting and storing information on a decentralised, distributed ledger yields many benefits for enterprise application data. That makes supply chain management a good use case—a consortium of stakeholders in a supply chain can own, operate and enforce rules for their own shared blockchain.

Combine with other technologies

Blockchain itself should be used sparingly, where it is needed. The ample cryptography which blockchains employ also make them slow. That provides another reason to reconsider off-chain processing and storage alternatives.

In order to maximise its effectiveness and applicability to enterprise scenarios, it needs to be used together with other pre-existing great technologies.

Lian said, “Making blockchain more widespread requires a process. Simply relying on the technology itself is unproductive.”

“Linfinity combines blockchain with Artificial Intelligence and the Internet of Things (IoT). We also focus on the demands of businesses and consumers, so we can speed up the commercialisation of blockchain.”

Besides, having data from the supply chain recorded onto blockchain, Linfinity plans to use other technologies, such as Artificial Intelligence, to conduct real time analysis and to magnify the value of supply chain data.

It will then be able to provide innovative value-add services such as smart energy monitoring, smart sales monitoring, and predictive maintenance.

For blockchain world to expand its reach to the wider world, blockchain companies need to proactively step out. Having access to wider markets and amplifying blockchain’s effectiveness aside, that is the only way blockchain can truly enhance the world.





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