Exhibiting a Corda-based traceability system at the FinTech event hosted by the Singapore Monetary Authority.
CTIA (head office: Singapore, CEO: Mitsuru Tezuka), which provides blockchain solutions and services, will host a booth at Singapore Fintech Festival 2019, the fintech event hosted by the Singapore Monetary and Financial Services Agency, which will be held from November 11 to 13, 2019 in Singapore. At this event, CTIA will demonstrate and explain their production management system “Traceability as a Service” based on Corda from R3
CTIA is developing “Traceability as a Service” to provide a production management system that utilizes R3 Corda’s distributed ledger technology to achieve traceability in the supply chain.
This can be achieved by utilizing blockchain for planning and record matching operations between organizations that have been difficult to achieve with traditional CRM / ERP. By using smart contracts to match production plans and work records, and handling products as tokens, it is possible to save labor in various management tasks such as inventory management and to significantly improve the operational efficiency of high-mix low-volume production. In addition, management costs and standby costs can be significantly reduced by utilizing this technology in business-to-business transactions and international trade.
CTIA previously exhibited at “CordaCon London 2019” held in London and exhibited the SGX demonstration machine operated on Corda developed by R3. This demonstration was conducted by showing the production and receiving sides of a kiwi as an example. Company A would raise, harvest, and box the kiwis and prepare them for shipment. Then Company B on the receiving side would collate the arrival schedule with a barcode and perform the receiving work. Similarly, at this “Singapore Fintech Festival 2019”, it will be possible to use the demonstration app to see the actual process from production recording to shipping and receiving. The CTIA booth at this event will be set up in the exhibition booth of Singapore Fintech Association (SFA).
Singapore Fintech Festival 2019
The Singapore Fintech Festival is the world’s largest financial technology event organized by the Singapore Monetary Authority (MAS). This is the fourth year of this event which has been held every year since 2016. It is a global platform with financial institutions, technology development companies, and startup companies from all over the world participating to build a comprehensive network of fintech inclusiveness and information exchange and new development projects. Last time, more than 400 companies from 16 countries participated and approximately 45,000 people from 130 countries came to the event. This year will be held on the four themes of sustainability, future of finance, investment and international market opportunities, and exponential technology to promote the financial ecosystem.