Singapore-based Fintech startup Invictus has partnered with IBM (NYSE:IBM) to leverage their cloud and blockchain tech to power their order, logistic and payment platform (OLP).
Invictus will also be working with the IBM “Bluemix Garage” in Singapore to design a distributed ledger (DLT) platform prototype on the Hyperledger Fabric, aimed at managing transactions between small and medium enterprises, suppliers, banks and other liquidity providers.
Lim Soon Hock, Chairman of Invictus said they intend on removing the “chronic pain” of the last mile of transactions by expanding access to third party liquidity providers.
“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 Soon Hock.
Jeffrey Lam, Chief Operating Officer & Vice-President of Sales of Invictus, said they understood how running an enterprise with limited resources can be a challenge;
“Working with the IBM Bluemix Garage team has been an eye-opening experience in showing us how companies can benefit from technologies such as blockchain which has the capabilities to improve operational efficiency and reduce transaction risks. We are very excited to see how our offerings will help SMEs become more productive and competitive,” said Lam.
IBM said that Blockchain is one of the services available to developers on Bluemix, on which more than 120,000 apps are launched every month. IBM Bluemix has rapidly grown to become one of the largest open, public cloud deployments in the world.