April 2019 Updates
InfoCorp Technologies Inks Partnership with Mandalay Capital
On 26 April, we announced formation of partnership with Myanmar-based Mandalay Capital to utilise FarmTrek as platform to provide livestock-backed loan services to farmers and MSMEs in the Myanmar agricultural and livestock market. This is an important milestone for Sentinel Chain in establishing a foothold in Myanmar as the first stakeholder to be involved in the receiving end of the business-to-business livestock-backed financing network. The financial services company aims to replace illegal remittances and currency exchanges in line with Central Bank’s policy, as well as reducing poverty through creating job opportunities in the sector. Read the announcement here.
The partnership is covered in DEALSTREETASIA.com, part of DEALSTREETASIA Pte. Ltd., a news and intelligence platform reporting on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region. To read the full article, click here.
Sentinel Chain Mainnet Launch Progress
New architecture requires new paradigms. Following our previous announcements regarding Sentinel Chain’s Mainnet launch, the project is still undergoing smart contract audit and code review led by the Akomba Labs’ audit team. Akomba Labs is focused on bringing feasibility, accountability, and well-structured economics to blockchain’s wild west. Besides Sentinel Chain, the team has worked with some of the biggest names in the industry such as Ethereum Foundation, Consensys and Hello Gold.
Due to the audit, the Sentinel Chain Mainnet launch date will have to be rescheduled after final assessment being done upon receiving the auditor’s review. The team will publish an update once we have further details. Along with conducting the audit, the team has continued with intensive testing on Orion Testnet as well as documentation work. The current repository for Sentinel Chain is in the Orion Testnet repository and will be migrated to the Sentinel Chain repository prior to production launch.
We thank our community for patience as we strive to deliver the best in class product with no recourse for mistakes.
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InfoCorp Technologies Pte. Ltd. is a fintech company that provides the infrastructure to accelerate financial inclusion to unbanked and underserved communities through the use of blockchain technology. It designs solutions for small bank consortiums in emerging countries to facilitate inter-bank transactions using distributed ledger technologies and provides consultancy services to clearing house and central banks on implementations and testing of real-time payment systems, and also to corporate clients on implementations and operations of distributed ledger technologies for production use.
Sentinel Chain is a blockchain-based international marketplace for cross-border financial services and the world’s first platform to accept the use of livestock as collateral. Taking a unique approach to the last mile problem of financial inclusion, the Sentinel Chain model establishes livestock provenance through the creation of livestock insurance on blockchain — the registration of livestock provenance on blockchain provides the unbanked with a new opportunity: the real possibility of accepting livestock as ‘collateral’ for loans. Sentinel Chain is a project by InfoCorp Technologies.
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