Komhar Blockchain Enabled Supply Chain

 

Automating Supply Chain Financing, tracking, payments and analytics

The port city of vizag saw a convergence of various technology professionals, startups and industry stalwarts as the city witnessed a first of its kind conference on blockchain technology in India. The two day event had an attendance of more than five thousand people from students to company representatives to government and social personalities.

Recognising the importance of blockchain technology in near future, Andhra Pradesh Chief Minister N. Chandrababu Naidu inaugurated the conference with his address:

“With establishing Fintech Valley at Vizag and real-time e-governance, it is the right time for the experts, entrepreneurs and investors to converge their outputs. This will do wonders, a win-win situation for all.”

It was a proud moment for KOMHAR (http://www.komhar.com) to be invited in this event to have a booth, demonstrate its blockchain and IT expertise applied in supply chain domain. The conference aimed to trigger startups, corporates, local and global investors to eye Vizag city as home to fintech and related verticals’ ecosystem in India. Speakers from all over the world such as Jack Shaw, Executive Director, American Blockchain Council, USA. HANS CHRISTENSEN, Director, Dubai Silicon Oasis Authority, UAE and a host of others addressed keynote..

The conference was an opportunity for startups and established companies to demonstrate their blockchain and related technologies chops and had to pass KPMG scrutiny to qualify for participation. KOMHAR is proud to be one of them as being unique with working prototype. There were multiple challenges and the one KOMHAR was particularly interested in was “The Fullerton Supply Chain Finance Challenge” - Executing domestic supply chain finance operations through Blockchain technology. Supply chain is a vast domain with so many inefficiencies as it relates to money movement, transparency of information, trust among parties and tracking of assets, a perfect use case for blockchain technology to be used at various levels. Numerous startups and established companies all over the world are exploring blockchain technology application to remove friction and take cost out in current supply chain.

The port city of vizag saw a convergence of various technology professionals, startups and industry stalwarts as the city witnessed a first of its kind conference on blockchain technology in India. The two day event had an attendance of more than five thousand people from students to company representatives to government and social personalities. Recognising the importance of blockchain technology in near future, Andhra Pradesh Chief Minister N. Chandrababu Naidu inaugurated the conference with his address: “With establishing Fintech Valley at Vizag and real-time e-governance, it is the right time for the experts, entrepreneurs and investors to converge their outputs. This will do wonders, a win-win situation for all.” It was a proud moment for KOMHAR (http://www.komhar.com) to be invited in this event to have a booth, demonstrate its blockchain and IT expertise applied in supply chain domain. The conference aimed to trigger startups, corporates, local and global investors to eye Vizag city as home to fintech and related verticals’ ecosystem in India. Speakers from all over the world such as Jack Shaw, Executive Director, American Blockchain Council, USA. HANS CHRISTENSEN, Director, Dubai Silicon Oasis Authority, UAE and a host of others addressed keynote.. The conference was an opportunity for startups and established companies to demonstrate their blockchain and related technologies chops and had to pass KPMG scrutiny to qualify for participation. KOMHAR is proud to be one of them as being unique with working prototype. There were multiple challenges and the one KOMHAR was particularly interested in was “The Fullerton Supply Chain Finance Challenge” - Executing domestic supply chain finance operations through Blockchain technology. Supply chain is a vast domain with so many inefficiencies as it relates to money movement, transparency of information, trust among parties and tracking of assets, a perfect use case for blockchain technology to be used at various levels. Numerous startups and established companies all over the world are exploring blockchain technology application to remove friction and take cost out in current supply chain. KOMHAR (http://www.komhar.com) was uniquely positioned and drew lot of attention because of its unique perspective to the problem of supply chain payment and financing using blockchain’s most favored domain - payments. KOMHAR solution was a combination of sophisticated IoT (Internet Of Things) integrated with Ethereum Blockchain’s ERC 20 framework for tokenized domain specific value transfer. KOMHAR demonstrated how a Bank financing a supply chain can control all aspects of the credit while the exporter gets paid for the shipment automatically through supply chain community cryptocurrency - the Supply Chain Token with inputs from IoT Sensors attached to the shipment container. KOMHAR see automation of payments using IoT Sensors and community driven cryptocurrency to be the next big thing.” Their representative quoted. “We are planning to integrate our solution with IOTA (www.iota.org) as it is the micropayments platform of choice, KOMHAR will ensure that its token allow the importers and exporters to be shielded from crypto-currency fluctuations, so IOTA will one of the modes of payments in our solution. We will can optionally offer Supply Chain Tokens (ERC 20), IOTA and bi-level tokens depending on the nature of the financier and importer agreements.” For market watchers and investors, KOMHAR is planning for an ICO early next year. Great interest received in their solution is encouraging them to invest in the research of IoT devices capabilities as authentic originators of payments for signed transactions on a cryptocurrency enabled blockchains. KOMHAR see this forum as a good means to get their message across potential investors / developers - stay tuned for our ICO news at KOMHAR.COM. The event was covered by a lot of conventional press agencies like CNBC live, Times of India and a host of community bloggers. It was a resounding success for a city that is planning to become the next Fintech and KOMHAR was happy to be part of it.

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inquiry@komhar.com

Address

D-136, Basement, Saket, Delhi, INDIA