<RECAP> RHTLaw Taylor Wessing and RHT Holdings sign Memorandum of Understanding (MoU) with Singapore-based Linfinity to collaborate on Blockchain technology opportunities
RHTLaw Taylor Wessing’s legal expertise will further strengthen Linfinity’s proposition as they jointly pursue blockchain based supply chain innovations RHT Holdings’ deep understanding of complex cross-border compliance requirements to further enable Linfinity’s work within the supply chain industry
Singapore, 1 June 2018 — RHTLaw Taylor Wessing and RHT Holdings each signed a Memorandum of Understanding (MoU) yesterday to jointly explore blockchain technology with Linfinity, the world’s first distributed supply chain platform based on blockchain, Internet of Things, and Big Data technology that has managed to commercialise on FMCG products.
The MoU signings mark the firm commitment by RHTLaw Taylor Wessing and RHT Holdings towards exploring innovative solutions. The two firms will share their legal, compliance and professional services expertise with Linfinity as they jointly strive to tackle issues such as transparency and inefficiencies within the current supply chain industry through new blockchain technology.
Mr Tan Chong Huat, Managing Partner of RHTLaw Taylor Wessing LLP, said, “Linfinity’s partnership with RHTLaw Taylor Wessing and RHT Holdings creates exciting opportunities to collaborate and value add to this ecosystem. We look forward to commencing these pilot trials for our future projects, as well as to support and further the work that Linfinity is doing within the supply chain industry. With the transparency and accountability afforded by blockchain technology, we believe this can be a gamechanger, and with further potential for this technology across various sectors, it is something we are excited to be a part of.”
Also commenting on the MoU signing, RHT Holdings CEO, Jayaprakash Jagateesan said, “Existing global supply chains are faced with increasing administrative costs and paperwork, incurring unnecessary friction costs. We believe that Linfinity’s blockchain technology, supported with our deep knowledge in compliance requirements, will go a long way towards addressing the inefficiencies within global supply chains by offering innovative solutions.”
Mr Anndy Lian, CEO of Linfinity Singapore, said, “As the demand for transparency increases for products, the application of blockchain to this system will not only improve supply chain efficiency, but allow reliable collection of data. Throughout the various points in the supply chain, the data will be handled in a secure, digitised and verifiable manner. This will allow consumers to access accurate and trustworthy information about the product that previously was unavailable to them, as well as ensure that the product is authentic.”
Originally published at https://blockcast.cc on June 1, 2018.