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Invictus and IBM Create Order, Logistics and Payment Platform

Avatar Gautham 3 years ago

Hyperledger Project is slowly gaining acceptance among both corporate and startups alike. A Linux Foundation initiative, Hyperledger has received support from some of the leading technology, financial and banking giants. As far as its initial adoption goes, startups like Invictus has joined the likes of Maersk to create blockchain-based applications in collaboration with IBM.

The Singapore-based Invictus has become the latest company to join forces with IBM to create a product on Hyperledger’s Fabric blockchain that recently entered the “production ready” phase. According to reports, the Order, Logistics, and Payment (OLP) platform being created by Invictus with IBM Bluemix Garage will help businesses increase their productivity while significantly cutting down costs.

The prototype OLP platform on Hyperledger Fabric will help startups, small and medium enterprises to efficiently execute and manage transactions between their suppliers, banks and liquidity providers. The Chairman of Invictus, Lim Soon Hock was quoted by media outlets saying,

“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 purchase order stage.”

The product once implemented will prove helpful to thousands of startups across the world. It will help them gain access to the much-required capital to meet the production and delivery requirements without being heavily dependent on big-ticket VC investments or high-interest loans.

It is yet another win for IBM, which recently announced its collaboration with global shipping and logistics giant Maersk to create a blockchain solution to track millions of shipping containers across the world in real time. The Fabric based blockchain solution intends to rope in shippers, freight forwarders, and customs departments to create a universal system.

All these strategic collaborations and blockchain services offered by IBM has made it one of the leading cloud solutions provider in the cryptocurrency technology sector alongside Microsoft’s Azure.

Ref: Mis Asia | Image: Bigstock
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