EximChain Aims to Bring the Global Supply Chain on the Blockchainby Fintech News Singapore October 2, 2018
Eximchain, a blockchain solution for supply chains will be launching it’s mainnet this October. For the uninitiated that means it’ll be moved from testing environment to a production environment.
Founded in the Massachusetts Institute of Technology (MIT) in 2015, Eximchain’s technology aims streamlines processes for global supply chain players in areas such as sourcing, supply chain finance, and inventory management.
Earlier this year, Eximchain raised US$20 million, to help achieve its vision of solving supply chain issues via an efficient, transparent and secure global blockchain network; a market potentially worth US$3.31 billion by 2023 according to research firm MarketsandMarkets.
Ms. Hope Liu, Founder and CEO of Eximchain, said,
“The launch of Eximchain’s mainnet marks a significant business milestone. It also validates our team’s combined ambition to help bring the global supply chain industry on the blockchain. Together with our partners, some of the world’s leading technology brands, we’re confident of delivering on our vision and ambition and moving the multi-billion-dollar supply chain industry,”
With its scheduled mainnet launch, Eximchain stated that they will be looking at use case specific application like real-time upstream supply and downstream demand information. Which in turn allows for supply chain players to get their credibility verified through a public blockchain and enabling them to finance new contracts, manage applications and take part in the governance of their own data.
The schedule mainnet launches with 233 machines across 14 regions and will see several projects go live with partners like YOOSourcing a China-based sourcing platform, Enigma a technology platform that enables privacy and scalability on the blockchain, and a Fortune 500 company whose name was not disclosed in the press release.
Featured image via eximchain.com