InfoCorp Partners Green Delta Insurance Company for Pilot Project to Deploy Tamper-Proof Livestock Identification Technology
“This is a significant event introducing livestock identification and indexing service in Bangladesh to deliver social and economic empowerment to cattle farmers in the country with 25 million (2.5 crore) cattle population.”
Spectra Convention Centre, Dhaka, Bangladesh, 14 February 2019, 11 a.m.: InfoCorp Technologies partners Green Delta Insurance (GDIC) to carry out a joint-pilot in Bangladesh with the use of InfoCorp’s FarmTrek app for registration of livestock and livestock owner identity, issuance and storage of livestock insurance policies and tracking and identification of livestock via the use of NFC collar livestock tag.
The partnership is sealed with an Memorandum of Understanding (MoU) signed between both companies by Mr. Roy Lai, Founder and CEO of InfoCorp Technologies and Ms. Farzana Chowdhury, Chartered Insurer, Managing Director and CEO of GDIC. In attendance were some 20+ carefully selected editors and journalists from Bangladesh’s leading publications across newspapers, TV channels, radios and online portals.
This partnership — between Bangladesh’s largest general insurance company, promoting livestock insurance and the world’s first blockchain company that created a platform for livestock-backed financial services — is one that promises high social and economic impact by unlocking the capital in cattle for cattle farmers in Bangladesh, home to 25 million cattle population.
“Green Delta Insurance is embarking on a high-tech route to enable the issuance of livestock insurance that will bring huge socio-economic benefits to farmers in Bangladesh,” said Farzana Chowdhury, adding, “When we can introduce holistic solutions that bring economic benefits for society, it is also good for business”.
“We are very excited to be partnering with GDIC to bring our blockchain platform to Bangladesh, our second market after our entry into Myanmar in 2018.” expressed Mr. Roy Lai, adding, “We believe that this partnership will create a financial ecosystem solves the risk of livestock insurance by addressing such issues as identity and asset ownership frauds, data security and credit security risks. This potentially transforms the market into a force for development by enabling the use of livestock as collaterals.”
Articles will be shared as they are published.
Read the story published by Bangladesh’s leading English language daily, Daily Star: https://www.thedailystar.net/business/news/green-delta-bring-out-cattle-trackers-1702342
And another piece by leading financial and economics news, Financial Express: http://today.thefinancialexpress.com.bd/stock-corporate/green-delta-infocorp-join-hands-to-facilitate-livestock-insurance-1550160802
And for the Bengali-literate audiences in our community, here’s coverage from Barta24: https://barta24.com/details/%E0%A6%85%E0%A6%B0%E0%A7%8D%E0%A6%A5%E0%A6%A8%E0%A7%80%E0%A6%A4%E0%A6%BF/25905/%E0%A6%97%E0%A6%AC%E0%A6%BE%E0%A6%A6%E0%A6%BF-%E0%A6%AA%E0%A6%B6%E0%A7%81
Here are more photos from the event:
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With so many things happening in the world of change this year, we’ve certainly had plenty to reflect on and plenty to look forward to in the coming months as well. It is with gratitude to all in the team and our strong community supporting the Sentinel Chain vision, for without one and all of us, we would not have come this far this soon.
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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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