A Forbes Edition — Blockchain Partnerships with Singapore-Based Morpheus Labs
The original article can be found here.
Written by: Gerald Fenech
Still in its nascency, the blockchain industry is expected to grow to be a $23.3 billion industry with an 80% compound annual growth rate by 2023. Despite the buzz, the ecosystem is going through some expected growing pains with companies and stakeholders trying to find the best way to adopt and commercialize blockchain into their business plans
In the aftermath of 2018’s cryptocurrency market collapse, challenges in the industry include scalability, adoption, education, and bringing reputation back to the industry. Yet it is during traditional bear markets that builders lay the foundations to be used when the industry matures. Besides development, one way of doing so is by sourcing and securing strategic partnerships with companies that have complimentary models or services.
In fact Morpheus Labs, the Singapore-based blockchain firm, is helping to bridge this gap by providing enterprises with a full-service Blockchain-as-a-Service (BaaS) solution for easy prototyping, deployment, and integration. With a focus on Southeast Asia, China, and Korea, the Morpheus Labs team, led by CEO Chuang Pei-Han and Co-Founder Branson Lee, is the only end to end blockchain platform and app marketplace with a variety of active blockchain partners whose vision and goal are to find solutions to problems hindering mass adoption.
After a successful ICO in 2018, Morpheus Labs has developed a knack for creating meaningful strategic partnerships with other industry leaders, end user channels, and non-traditional blockchain clients that are interested in integrating blockchain into their business models. These include, among others, VeChain, NULS, QuarkChain, NEM, NeuroChain Tech.
Morpheus Labs CEO, Chuang Pei-Han explained: “We saw the gaps and understand the pain, thus, being the first-mover, we are committed to build an inclusive and comprehensive community and ecosystem. Having said that, we are the first platform that embraced variation and the first to onboard many renowned blockchain partners. Our technology capabilities will enable users to develop and spin up multiple blockchains within the golden timeframe of 5 minutes.”
Morpheus Labs and VeChain the leading enterprise-level blockchain solutions provider can make Blockchain more easily accessible since, in October 2018, they announced a partnership. The partnership was formed with mutually beneficial terms, such as Morpheus Labs promoting VeChain to their clients. It focuses on working towards the various verticals largely on tech enhancement, further testament to the importance of building a solid foundation to foster a strong partnership.
The partnership also includes a heavy focus on education, with Morpheus Labs creating and sharing blockchain education courses highlighting both companies. These courses will be marketed by both partners. On a technical level, Morpheus Labs onboarded VeChain’s basic nodes and committed to eventual enhanced tech integration.
VeChain CTO, Gu Jianliang, described the partnership thus: “We are glad that VeChain is adopting a progressive collaboration with a credible partner like Morpheus Labs to work alongside and shape the blockchain landscape. Personally, I believe that the Morpheus Labs platform’s one-stop development tool is a time-saving feature and will definitely ease the developers’ load on project development and deployment. This is a positive attribute where the team can place their focus on other key areas of the project.”
On the other hand, Chuang Pei-Han, Morpheus Labs CEO, adds: “Working with renown blockchain protocols like Vechain allows us to create a cohesive end to end development environment which facilitates rapid testing and deployment catalysing whole blockchain adoption to the next level and solving the sole pain point in blockchain now. In short, via ML platform, we reduce 60–70% of time and cost required for development from months down to weeks, and from a team to just a few.”
Besides, an important aspect of partnerships that can’t be ignored is the importance of staying nimble and flexible as each respective company scales. In this example, both Morpheus Labs and VeChain have committed to further explore synergies on other blockchain business verticals. An alignment of interests, such as this partnership example, helps form a positive ROI.
Morpheus Labs has also secured other regional partnerships in Korea, where it has teamed up with SmartMind, a rising Korean startup that houses a team of professional engineers specialized in big data, smart factories, media and advertising. This partnership will enable both parties to combine their resources to optimize business competitiveness.
Morpheus Labs also worked with the Korean Medium & Small Industries Manager Association (KMSIMA) to discuss both technical and business aspects of Blockchain in order to enhance SMEs’ competitiveness for the future Korean economy.
Other than Korea, Morpheus Labs has been recently endorsed and onboarded as a Standard Technology Partner within the Amazon Web Services (AWS) Partner Network. This represents a strong validation of Morpheus Labs’ deep expertise on AWS, and will help Morpheus Labs to further solidify its capabilities using the AWS cloud platform to power its blockchain networks. On broader prospects, Morpheus Labs’ connections are further expanded as enterprises can reach out to Morpheus Labs to facilitate blockchain solutions in the AWS marketplace.
On the education and community front, Morpheus Labs is very involved with local and regional universities to help share a better understanding of blockchain technology and encourage innovation within higher-education. The team recently hosted researchers and EMBA students from Tsinghua University and National Taiwan Normal University as well an upcoming regional partnership with a leading brand — Hanwha Dreamplus to deliver a blockchain curriculum.
CEO Chuang Pei-Han stated, “The key to a good partnership is not always looking at surface level value. Strategic planning and outlook help pick the right long-term partner. The basis of a partnership should always complement each company in term of needs. Also, one should always look deeper into which type of partners will help with scalability and long-term growth. Only with time will a good partnership create stickiness and business efficiency. For example, we could work with a big corporate as a client for app development to build our profile, or we could work with another corporate to build channel sales.”
As seen in some of the above examples, a good partnership within the blockchain industry includes a mutual understanding and respect for each company’s product, services, strengths, and weaknesses. Once this can objectively be evaluated, two companies can come together and fill in the respective gaps. Most common in the industry are partnerships to help scale, expand to new markets, attract new clients, and help speed up product development.
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