|Friday, 5 October 2018, 11:00 HKT/SGT|
|Mainnet Launch Event held from 9:00 (EST) on 5th October.|
BOSTON & SINGAPORE, Oct 5, 2018 - (ACN Newswire) - Eximchain, a platform for empowering supply chains with blockchain technology, went live today with its Mainnet. Eximchain has partnered with leading technology and supply chain brands looking to drive business efficiencies via blockchain technology, including a Fortune 500 tech company, China-based platform YOOSourcing, and Enigma, a technology platform that enables privacy and scalability using blockchain.
Eximchain's technology streamlines processes in areas such as Sourcing, Supply Chain Finance, and Inventory Management. Earlier this year, Eximchain raised US$20 million from industry leading investors, towards a vision of solving supply chain issues via an efficient, transparent and secure global blockchain network, a new market potentially worth US$3.31 billion by 2023, according to research firm MarketsandMarkets.
Ms. Hope Liu, Founder and CEO of Eximchain, said, "The lack of transparency, connectivity and agility is a huge problem in the global supply chain industry. With global trade increasing at a tremendous pace, boosted by e-commerce in Asia Pacific, supply chain players around the world are looking at technology to help them reduce costs and be more efficient in their processes. Connecting these businesses with its unique blockchain platform, Eximchain is positioned to help drive the global supply chain industry forward with technology."
"The Mainnet Release marks a significant business milestone, and validates our team's combined ambition to open the global supply chain industry to blockchain technology. Together with our partners, some of the world's leading technology brands, we are confident of delivering on our vision and ambition, and moving the multi-billion-dollar supply chain industry forward," added Hope.
Eximchain builds use-case specific applications on its Mainnet. Both large and small supply chain players can now look forward to real-time information on upstream supply and downstream demand and having creditability for financing and new contracts verified by public blockchain. Moreover, Eximchain's network incorporates the Quadratic Voting consensus mechanism, ensuring that no single group influence a blockchain easily.
Eximchain EXC Tokens
EXC Tokens are ERC-20 compatible, and their purpose is to generate a valid ledger to seed the genesis file of the Eximchain Mainnet. EXC Tokens were distributed over the Ethereum blockchain, pursuant to a related smart contract, and today become redeemable for Native Tokens at the Eximchain Mainnet.
Eximchain's Native Tokens will be used to pay network fees, validate state changes and execute governance. They will also be used to access applications built on the Eximchain network, such as Smart Contracts and solutions developed with the Eximchain SDK. The Mainnet launches with 233 machines in 14 regions, and following projects in development:
- A Fortune 500 technology company, with a global supply chain and far-reaching customer engagements, will conduct a proof of concept using the Eximchain public blockchain infrastructure and common ledger technology to increase data sharing, build trust and facilitate transactions, benefiting all stakeholders in its business.
- YOOSourcing, a China-headquartered sourcing platform with over 35,000 business users, will use Eximchain blockchain technology to bring trust and accountability to big data, with authenticity, reliability and ratings, and agreements between buyers and suppliers to the platform. Development is complete, platform verification tests by YOOSourcing.
- Enigma, using proprietary smart contract technology, has partnered with Eximchain to help global supply chain companies leverage on good public behaviour, showing credit worthiness to underwriters of supply chain financing, and helping the US$1.5 trillion global trade finance gap, according to the Asian Development Bank.
Eximchain will continue to enhance network infrastructure, finalizing changes and security by Q4/2018. Eximchain will also identify Innovation Partners and global Ambassadors, helping them to grow a developer community, and develop use-cases for specific supply chain issues. It will also launch the Eximchain SDK next year, which will enable companies to build customised, end-to-end, supply chain applications using the Eximchain Mainnet.
Eximchain's Mainnet Event, Live Streaming
Eximchain's Mainnet launch is being broadcast from Singapore and the US. The event can be seen at https://www.youtube.com/watch?v=Ww1g5gr91bo, from 9.00 am EST, 5 October.
About Eximchain (https://www.eximchain.com/)
Eximchain was founded in 2015 at the Massachusetts Institute of Technology (MIT). Its mission is to provide Blockchain-enabled tools to transform global supply chains. Using Eximchain technology, we hope to eliminate traditional supply chain barriers, and integrate actors big and small into an efficient, transparent and secure global network.
Eximchain employs the first combination of Quadratic Voting and Ethereum-based smart contracts to govern its ecosystem. This enables SME buyers and suppliers to create supply chain optimisation tools, and gain access to affordable credit.
For more information, please visit:
For Global / Asia: PRecious Communications for Eximchain
Tel: +65 6303 0567
For US / UK: Smart Connections PR for Eximchain
This release (PDF): http://www.acnnewswire.com/clientreports/598/Eximchain_18104.pdf
Oct 5, 2018 11:00 HKT/SGT
Topic: Press release summary
Sectors: Transportation/Logistics, Enterprise IT, Currencies, FinTech/Chains, Banking, Digital
From the Asia Corporate News Network
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