MOU Signing Ceremony between Reefic Protocol, veriTAG, Morpheus Labs, Y3 Technologies, Sakae Fintech and NULS
Chongqing, China, August 22nd 2018 — At a media briefing organised by Singapore’s Infocomm Media Development Authority (IMDA) at the recent Smart China Expo 2018, Memoranda of Understanding (MOUs) were signed by Reefic Protocol, veriTAG, Sakae Fintech, NULS, Y3 Technologies and Morpheus Labs to launch one of the first International Food Blockchain Alliance (“Foodchain”).
Under the agreement, the six parties will jointly:
- Use blockchain technology to connect international resources and promote the development for the Chinese and international food industry;
- Establish an international food industry blockchain ecosystem, serve international food and upstream and downstream industries, promote international cooperation among food-related enterprises, and provide safer, more reliable, rich and high-quality food for Chinese and international end consumers; and,
- Help companies to develop blockchain technology and concepts and build a multinational cooperation platform for international F&B enterprises to share resources.
About Y3 Technologies
Y3 Technologies is a Singapore-based, award-winning software solutions provider. Y3 provides a full suite of omni-channel solutions — delivering analytics-based tools & capabilities, purpose-built supply chain management applications and customized eCommerce, CRM & loyalty services, to enabling companies to better plan, manage, optimize fulfilment and deliver winning customer experiences. Today, Y3’s proprietary solutions manage more than $50 billion in inventory across 120,000 different unique products every year and are integrated with more than 11,000 connected point-of-sales, handling over 50,000 transactions every day. Its clients include IKEA, Dell, Starbucks Coffee, and Infineon Technologies.
veriTAG seeks to create a one-stop solution platform into China for food using its patented authentication system as the foundation, veriHUB, as a central database system with applications and a rules-based engine and veriSHOP to link customers to the products. Currently, veriTAG has more than 40 merchants, 100 unique products on board with strategic partners, which include ito yokado, Isetan, and G Super.
About Sakae Fintech
Sakae Fintech Pte Ltd, a subsidiary of Sakae Holdings Ltd, is committed to developing mobile solutions and ecosystems for consumers and businesses. Our services: Bitechain — Catering blockchain. Bitechain uses blockchain, Dapps and Bitechain Utilities Network (BUN) ecosystem to support consumers and businesses in the catering industry, providing opportunities for market expansion and integrating F&B data to make informed decisions, promote customer engagement through decentralized marketing, and give companies and individuals the role of tokens in the ecosystem.
NULS is a global blockchain open-source project which is a highly customisable modular blockchain infrastructure; it consists of a microkernel and functional modules. NULS provides smart contracts, multi-chain mechanism and cross-chain consensus. It aims to break the technical barriers of blockchain, to reduce the cost of development, and to promote the usage of blockchain technology in the commercial field.
About Morpheus Labs
Morpheus Labs is an enterprise-level blockchain platform that integrates all of the blockchain development tools and resources needed to streamline the development process and modularize it, enabling organizations of any size to quickly design, deploy and operate distributed ledgers. Morpheus Labs’ BPaaS can be used both as a corporate B2B platform and or by a freelance or individual developer to quickly create their own ideas and projects, as well as a B2C model. The platform will support distributed management of blockchain network nodes and off-chain applications, while providing centralized platform services for developing, managing and managing blockchain networks. Morpheus Infrastructure Pass (MITx) is designed to be used for all services and products offered in the Morpheus BPaaS network, platform subscriptions, distribution licenses and token exchanges with other digital currencies or tokens.
About Reefic Protocol
Reefic Protocol is is an entrepreneurial company based in Singapore since 2008. The company specialises in the design and development of reliable and high-quality solutions to aid in various businesses and procedures. The company offers its services to those seeking innovation and hybrid designs for interactive entertainment and software technologies. One of the company’s biggest projects, Reefic Protocol, is a decentralised reward exchange for next-gen customer loyalty programs. The platform gives customers the fluidity and security to exchange rewards across multiple loyalty programs that are linked up using blockchain.
The signing of this Memorandum of Understanding marks the consolidation of a true partnership. It is our shared hope to establish a food chain alliance and create a global food ecosystem based on blockchain to share and maximise resources, in a collaboration with veriTAG, Morpheus Labs, Y3 Technologies, Sakae Fintech and NULS.
The signing ceremony was witnessed by Mr Li Qian, Deputy Secretary General, Chongqing Municipal Government and Mr Tan Kiat How, Chief Executive Officer, Infocomm Media Development Authority of Singapore (IMDA).
We will continue the strategic dialogue on our joint priorities, at all levels, so that we can complement and leverage each organization’s comparative advantage to promote healthy development of the Chinese and international food industries and help relevant enterprises develop together through blockchain technology.
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