Eximchain to Launch First-of-its-Kind Global Supply Chain Industry Blockchain Platform

An Important Launch

Eximchain, a platform focused on empowering global supply chains through blockchain, is slated to launch its mainnet on October 5. The launch will be livestreamed on YouTube starting at 9:00 am EST that day.

The mainnet launch is a significant step for Eximchain. A blockchain usually has a “main-net” – the main network where transactions take place on a distributed ledger – and a “test-net” – or test network for variables prior to development. Many in the crypto space believe launching a mainnet shows that a cryptocurrency is authentic, and not bound to fail.

Eximchain will use the mainnet to build use-case specific applications. Supply chain information will be available to users in real time, allowing them to get their credibility verified through a public blockchain to help in financing and new contracts, manage applications and take part in the governance of their own data. Eximchain’s network also employs a first-of-a-kind Quadratic Voting consensus mechanism to govern its ecosystem. The mechanism ensures that no single group can easily take over the blockchain. This is essential in a network where many parties in the global supply chain depend on the trust, decentralization, and openness of the blockchain network.

Hope Liu, Eximchain Founder and CEO expressed her excitement about the mainnet launch, stating:

“The lack of transparency, connectivity and agility is a huge problem in the global supply chain industry. With global trade increasing at a tremendous rate, and boosted by e-commerce in Asia Pacific, supply chain players around the world are looking at technology to help them reduce costs and be more efficient in their processes. By connecting these businesses with our unique blockchain platform, Eximchain is well positioned to help drive the global supply chain industry forward with technology.”

She added, “The launch of Eximchain`s Mainnet marks a significant business milestone. It also validates our team’s combined ambition to help bring the global supply chain industry on the blockchain. Together with our partners, some of the world’s leading technology brands, we’re confident of delivering on our vision and ambition and moving the multi-billion-dollar supply chain industry.”

Founded in the Massachusetts Institute of Technology (MIT) in 2015, Eximchain`s technology streamlines processes for global supply chain players in areas such as sourcing, supply chain finance, and inventory management. Earlier this year, Eximchain raised $20 million USD to enable it to achieve its vision of solving supply chain issues via an efficient, transparent and secure global blockchain network.

New Developments

Eximchain has partnered with some of the leading global technology and supply chain brands to drive business efficiencies via the blockchain. They include YOOSourcing, a Fortune 500 technology company and Enigma. The partnership with YOOSourcing, a China-based sourcing platform with over 35,000 business users, will utilize blockchain to provide trust and accountability to data such as authenticity, reliability and ratings, and agreements between buyers and supplier on the platform.

Enigma’s secret smart contract technology will be utilized in the global supply chain leverage on the on-chain behavior as proof of business-history to underwriters for supply chain financing. In addition, a partnership with a Fortune 500 technology company with global supply chain and far-reaching customer engagement will aid in conducting a proof of concept using the public blockchain infrastructure supplied by Eximchain and common ledger technology to increase data sharing, build trust, and facilitate transactions, in order to benefit all stakeholders in its business. 

As part of their development process, Eximchain will continue to enhance their network infrastructure and finalize changes and security considerations in Q4 2018. Additionally, Eximchain will also be looking at identifying innovation partners and ambassadors globally, to help them grow a developer community, and develop use-cases for specific supply chain issues.

Developers will be able to connect to the Eximchain network starting October 5, allowing outside participants to connect to the network freely. Token holders can also start the Token Holder Verification process. This will lead them to a Token Swap and Quadratic Voting Governance participation planned for early 2019.

More information can be found on the company`s website.

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Grace Muthoni
Grace Muthoni is a Staff Writer for Block Telegraph. She is a Crypto Enthusiast and covers topics relating to the digital currencies and the Blockchain. She studied Economics and is well vested with numbers, statistical analysis, data presentation and quality content writing.

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