Prime Minister of Singapore and Foreign Minister of Singapore visited “SFF 2019” Singapore EXPO on day two of the three-day event
“Singapore Fintech Festival 2019” Exhibition Report
CTIA (head office: Singapore, CEO: Mitsuru Tezuka), which provides blockchain solutions and services, exhibited at Singapore EXPO in Singapore Fintech Festival 2019 (SFF 2019) for three days and introduced CTIA’s vision and business solutions to visitors from all over the world. When the Prime Minister of Singapore and the Minister of Foreign Affairs of Singapore visited the event, they visited the Switchnovate by CTIA booth inside the Singapore Fintech Association (SFA) pavilion and CTIA had a chance to explain its solutions face to face.
400 guest speakers representing various fields
SFF2019 was held to promote the financial ecosystem, focusing on the four themes of sustainability, the future of finance, investment and international market opportunities, and exponential technology. Events and panel discussions with a total of 400 people included keynote speeches by leading guest speakers from the fintech industry, financial institutions and the latest technology; the Fintech Awards given to excellent fintech companies; and the global investor summit held mainly by celebrities in the financial world.
Singapore Prime Minister and Foreign Minister of Singapore visited the exhibition
Many visitors visited the CTIA booth in the SFA Pavilion during the three days and heard explanations with TaaS demonstrations. On the second day of the event, Singapore Prime Minister Lee Hsien Loong and Singapore Foreign Minister Vivian Balakrishnan visited the CTIA booth and listened to CTIA’s explanations of the TaaS system.
A venue filled with booths of over 900 companies, with more than 60,000 visitors
More than 900 companies from all over the world exhibited in the exhibition hall, and each company, public institution and regulatory authorities announced innovative technologies and the latest trends that will have a big impact to the industry. The fintech conference and exhibition held at Singapore EXPO for 3 days was a great success, and about 60,000 people from 130 countries and regions attended.
Speech at JETRO Pavilion on the second day of SFF 2019
Speech about the future and new connections by “Traceability as a Service”
CTIA (head office: Singapore, CEO: Mitsuru Tezuka), which provides blockchain solutions and services exhibited at the “Singapore Fintech Festival 2019” (SFF 2019) and welcomed many visitors to the booth.
CTIA also made a presentation in the morning and afternoon at the JETRO pavilion, explaining the vision and possibilities of the production management system using distributed ledger technology “Traceability as a Service” (TaaS)
Guest speech: What you can do with Traceability as a Service
Building a planned global production line
A workflow network * can be used for cross-border transactions, because it does not matter where cooperating companies or organizations work. A production line that simplifies communication can also enable the fusion of digital and analog, linking the latest factory automation with manual work. This makes it possible to build a production line for products that pass-through countries with complex customs and quarantine policies. Since it is easy to build supply chains involving various countries, it is possible to develop and produce products that utilize new technologies and products that have been difficult to distribute.
Easy to review and expand the production capacity of the supply chain.
By expressing existing production capacity in a workflow network, it will be possible to determine supply processes in real time; therefore, it is possible to reduce production capacity and use it in combination with other operations, or combine with production lines that use new technologies such as IoT, AI / machine learning, etc. In departments where work is multiplexed, the workflow can be reviewed to reduce the work burden of the department. It is also possible to build a consortium with multiple supply chains.
New ways of connection with industry and finance
The workflow network uses “Corda”, a distributed ledger technology created from the finance provided by R3, to design a system that meets strict financial regulations. It may be possible to bring the relationship between industry and finance closer to a point where the organization could be evaluated based only on annual financial statements and monthly trial balances so far. A close relationship between industry and finance is necessary to support global demand. By using the TaaS system, it will be possible to make appropriate judgments on demand and manage credit effectively for production capacity.
Spreading out to various industries
TaaS can be used in various fields such as logistics, aviation, trade, finance, and medical care. Real estate is a difficult field for international transactions because of its complex workflow, including land-based construction and maintenance, lending and buying and selling. Since TaaS can be used to handle various records, it is expected to be effective even in fields that require unique operations such as commercial facilities, residences, and hotels. Managing large-scale manufacturing and specific supply industries such as electric power and water supply, is also difficult to design a service model due to the complicated workflow. Using TaaS will make it easier to manage demand; therefore, it will be possible to build a new power management model.
Tomorrow, Nov 13th will be the final day of SFF2019, so please come visit us
* Work flow network… Lot management throughout the supply chain. TaaS builds a network by sharing workflows among multiple companies involved in the supply chain.
CTIA participates in “Singapore Fintech Festival 2019” from Nov. 11th to 13th
Made a speech on the possibility of “Traceability as a Service” at SFA Pavilion.
CTIA (head office: Singapore, CEO: Mitsuru Tezuka), which provides blockchain solutions and services, is participating in the Fintech event “Singapore Fintech Festival 2019” (SFF 2019) as Switchnovate by CTIA from today. SFF 2019 is a well-attended event hosted by the Singapore Monetary Authority.
At the exhibition booth, the production management system “Traceability as a Service” (TaaS) and products related to TaaS have been introduced and displayed with many participants, mainly related to the financial and manufacturing industries, visiting the booth.
Guest speech: What you can do with Traceability as a Service
At the Singapore Fintech Association (SFA) Pavilion, CTIA gave a speech on the functions and future possibilities of the TaaS production management system with the theme of “supporting stabilization of production capacity on a global scale” and introduced two projects that are currently working on implementation of TaaS.
No need to report and manage
By using work applications and devices provided by TaaS, anyone can build a workflow network. By automatically recording who did what when and where and sharing the content both inside and outside the organization, the barriers to communication that had been divided between organizations will be removed and it becomes possible to build a supply chain that supports high quality products more seamlessly.
Providing production capacity and demanding production smarter
Since there is no need to create formats to check the production status that occurs when building a production line or to adjust supply and demand, it enables faster and more accurate linkage and reporting than conventional message tools and CRM. In addition, by enabling real-time production instructions according to the sales plan, it will be possible to reduce both work-in-progress production, which had been based on sensory demand forecasts so far, and secondary use of material inventory due to changes in supply and demand.
Real time material procurement and work instructions
The workflow network can generate tasks while performing real-time work coordination. By linking with sales status and order status data, it makes it possible to calculate the optimal quantity of materials procured and to instruct the work in progress. In addition, when a recall occurs due to a product defect, the quantity of materials procured can be adjusted and manufacturing instructions in real time can be provided.
Despite it being the first day, SFF 2019 had 60,000 attendees and finished the first day as the world’s largest fintech event. This 3-day event will be held until November 13th.