The partnership aims to integrate the innovative, blockchain-based “Inventory Monetization” service, created by Supply@ME, with the SIAchain infrastructure to generate value for firms by disposing of their unsold stock. SIA, the European hi-tech company, a payment services and infrastructures supplier, and Supply@ME, the scale-up of the AvantGarde Group, have signed a partnership agreement to launch - through the SIAchain infrastructure - the new “Inventory Monetization” platform, created by the Milan-based fintech soon to be listed on the London Stock Exchange.
The partnership involves the integration of this application with SIAchain, the private infrastructure created by SIA to support financial institutions, corporates and public administration bodies in the development and implementation, in a secure and protected manner, of innovative applications based on blockchain technology that can count on approximately 570 network nodes in Europe of SIAnet – the high-speed, low latency fiber optic network stretching over 186,000 kilometers. SIAchain makes available a series of business applications designed to meet the needs of specific communities of members registered and approved in a context of transparency, confidentiality and security.
“Thanks to this new partnership with Supply@ME, SIAchain confirms its role as the leading blockchain architecture in Europe, developing and supporting the launch of mission-critical applications, featuring high performance and security, associated with a clear model of governance. This initiative will further enable us to innovate SIAchain, which today is also able to handle applications based on the Hyperledger Fabric platform, as well as those developed on R3’s Corda and Ethereum", commented Daniele Savarè, SIA Innovation & Business Solutions Director.
Alessandro Zamboni, CEO of the AvantGarde Group and Supply@ME, stated, “Our funders require from us transparency and resilience, in short, reliability. We are delighted to be working with SIA to create the world’s first infrastructure enabling firms to invest – in a highly innovative way offering the highest levels of data assurance – in the key factor for every company: its inventory, the most significant part of their working capital”.
CTMfile take: Creating value from unsold stock is vital for many firms, and using a secure blockchain infrastructure is ideal. This is where blockchain really makes sense.
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