It’s #HyperledgerAsia month, so we are spotlighting the fast-growing adoption and deployment of Hyperledger technologies throughout the region. Companies across Asia are driving a nonstop stream of innovative new enterprise blockchain implementations ranging from global shipping networks and international digital health passports to training certification and secure document solutions.
Read on for just a sampling of the solutions at work across Asia powered by Hyperledger technologies. And join the conversation using #HyperledgerAsia on social channels.
BondbloX Bond Exchange
Singapore-based BondEvalue broke through barriers when it unveiled the world’s first blockchain-based bond exchange that allows investors to trade BondbloX Bond Exchange (BBX) – $1,000 fractions of traditional wholesale bonds. This leads to better access and better diversification opportunities for a market that is typically inaccessible except to more wealthy investors.
BBX leverages the Hyperledger Sawtooth blockchain technology to fractionlize bonds, make trading highly transparent and more cost effective. Settlement on BBX is on a T+0 basis, that is within seconds instead of the normal two-day settlement cycle, thereby reducing counterparty settlement risks for investors.
BondEvalue continues to engage more member participants such as Taurus Wealth Advisors, the leading fee-based, multi-family wealth management firm in Singapore, and Amstel, an institutional fixed-income broker with operations across Asia and Europe. BondEvalue is also expanding its footprint with a joint venture partnership in Mexico. The company’s goal is to empower a more diverse pool of investors and introduce them to institutional-grade opportunities in the bond market through its cutting-edge blockchain solution.
Global Shipping Business Network
Global Shipping Business Network (GSBN), headquartered in Hong Kong, is a neutral trade data utility platform whose members include container carriers and terminal operators/ports that handle one in three containers worldwide. It is built on a Hyperledger Fabric-based permissioned blockchain with strong data governance where only authorized parties are granted the right to contribute and consume shipping related data. By leveraging immutability of the blockchain and data field level privacy through cryptography, participants in the supply chain such as terminals, carriers, shippers, freight forwarders, truckers, customs and financial institutions, can collaboratively design and enable industry wide, end to end, solutions. The platform was developed in partnership with Oracle, Microsoft, AntChain and Alibaba Cloud.
Developed by KoinEarth and deployed using Hyperledger Fabric on Oracle Blockchain, [markets]N is a secure B2B platform that’s used by India-based Hindalc, the world’s largest aluminum rolling company, to get a higher degree of visibility into its inventory and supply chain and enforce its SLAs with service providers. This includes tracking and monitoring of purchasing orders, shipments and invoices in real-time, in coordination with its suppliers.
Mindtree’s Digital Health Passport for Travel
Post-pandemic passenger air travel is constantly evolving due to border restrictions and COVID-related mandates. The need of the hour for airlines is to have a comprehensive and adaptive solution that informs and educates travelers, airline staff, airport authorities and government in real-time about COVID test requirements, safety protocols, vaccines and other regulations. Mindtree’s Digital Health Passport for Travel solution, which is built using Hyperledger Fabric blockchain technology, promises to do exactly this and thereby make post-pandemic global airline travel seamless, hassle-free, and safe.
KrypC partnered with New Street Technologies to implement a blockchain marketplace for lending built on Hyperledger Fabric. MiFix Gateway is a distributed private network where participating financial institutions can access qualified leads and compete for customers seeking loans. Lenders view the credit score and personal information of each lead and offer competitive loans based on this information. MiFix provides a single platform where banks can earn revenue from loan disbursements and customers can obtain the most competitive rates while maintaining complete control of their data.
MiFiX connects remittance providers and banks to reduce interest rates. Though there have been efforts made by banks and financial institutions to provide affordable loans to rural parts of society, the last mile cost of collecting the loan pushes the cost to beyond affordable levels. By connecting the remittance companies in various corridors and lending institutions in India through a blockchain network, MiFiX is facilitating the sharing of remittance and loan information in a trusted and immutable fashion eliminating the collection cost.
SnapCert is a blockchain-based Credential Authentication platform for universities, colleges and institutes. Offered as a SaaS platform by Snapper Future Tech, SnapCert equips education customers to issue and verify credentials on a blockchain, ensuring no fraudulent credentials can be issued in their name.
Customers include Kushal, a social organization that trains unskilled labour under Indian government National Skill Development program. With SnapCert, verifiers can get real-time verification of Kushal credentials directly from the primary source of the data simply using the last four digits of the credential holder’s Aadhaar id and the name. The solution solves the problem of misplaced paper credentials and reduces the trust deficit by providing easy access to credible credentials that prove the holder’s construction training. It also helps Kushal manage long term record keeping for the skilled workers, connect stakeholders that need the data and increase transparency and ease of doing business.
SnapCert is built using Oracle Blockchain, which is powered by Hyperledger Fabric.
Secure Logistics Data Exchange
The Secure Logistics Data Exchange (SLDE) platform was launched by the Ministry of Commerce of India to digitize the generation, exchange, and compliance verification of 36 document types commonly used by banks, customs, freight forwarders, exporters, importers, and transport operations. The SLDE platform, which runs on the Hyperledger Fabric-based Oracle Blockchain, is a solution to replace the present manual process of generation, exchange and compliance of logistics documents with a digitized, secure and seamless document exchange system. It was developed by CargoExchange in conjunction with a number of banks (ICICI, Axis Bank, State Bank of India and HDFC Bank) and the ministry’s Logistics Division.
Tech Mahindra Document Solution
Tech Mahindra, in collaboration with a partner, has built a SaaS platform allowing companies to securely share sensitive documents with anyone within or outside the organization. Supported on Hyperledger Fabric, the platform enables mortgage companies, banks, accounting firms, and others to safely share their customers’ PII, IP, and sensitive information with co-processing entities in compliance with GDPR, CCPA privacy regulations.
Tech Mahindra is implementing the solution for the China division of a leading global manufacturer of consumer dispensing packaging and drug delivery devices. In the current engagement, Tech Mahindra will enable the customer to classify and securely share sensitive documents within or outside the organization with the help of advanced encryption, policies and immutable audit logs that are traceable on blockchain. Our solution will make information tamper-proof, and hack-proof thereby enabling our customer to transact with integrity and confidence with all internal and external stakeholders.