Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

Fintech startup INVICTUS collaborates with IBM to leverage blockchain and Bluemix technologies

Singapore-based fintech startup INVICTUS is teaming up with IBM to leverage IBM Blockchain and Bluemix technologies to help SMEs raise their productivity and competitiveness.

The startup will leverage IBM Cloud and Blockchain technologies for its Order, Logistic & Payment (OLP) platform, which aims to help businesses reduce wastage, redundancy and cash-flow issues in their transaction processes. The platform seeks to achieve this by disrupting the supply chain management cycle with blockchain smart contract technology.

In addition, INVICTUS is also working with the IBM Bluemix Garage in Singapore to design a distributed ledger platform prototype on the Hyperledger Fabric, aimed at managing transactions between small and medium enterprises, suppliers, banks and other liquidity providers.

“INVICTUS offers more than an e-procurement platform. We focus on taking the chronic pain out of the last mile of a transaction by expanding access to financing from third party liquidity providers, in addition to banks. Through our blockchain smart contract technologies and working collaboratively with IBM, we hope to disrupt this last mile by enabling secure and cashless financing as early as the PO stage,” said Lim Soon Hock, Chairman of INVICTUS.

IBM is one of the founding members of the Linux Foundation’s open-source Hyperledger Project. It is helping to build the foundation for business-ready blockchain architecture with a focus on privacy, confidentiality and deliver amazing experiences to their customers by helping them identify and build the right app on Bluemix.

In its official release, IBM stated that blockchain is one of the advanced services available to developers on Bluemix, on which over 120,000 apps are launched every month. Based on open standards, IBM Bluemix features over 150 tools and services spanning categories of big data, mobile, cognitive computing, analytics, security, blockchain and Internet of Things.

“Blockchain technology presents opportunities for disruptive innovation. It enables businesses to transact with less friction and more trust. Through IBM Blockchain, we are empowering businesses to digitize transaction workflow through a highly secure, shared and replicated ledger. We have seen significant success in the work we have done with startups and how it has benefitted both their business and their clients,” said Alan Lim, Practice Lead, IBM Blockchain & Bluemix Garage, ASEAN.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

May 25 16:00 UTC Released

USCattle Marketed

Actual

106 %

Forecast

106 %

Previous

96 %

May 25 16:00 UTC Released

USCattle On Feed

Actual

105 %

Forecast

104.9 %

Previous

107 %

January 31 00:00 UTC 165718165718m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 165718165718m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 177538177538m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 165718165718m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 177538177538m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 165718165718m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 165718165718m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 165718165718m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.