Signing ceremony of the Memorandum of Understanding between InfoCorp Technologies, RGK+Z&A Group in partnership with Livestock Breeding and Veterinary Department of the Ministry of Agriculture, Livestock and Irrigation and Myanma Insurance
Yangon, Myanmar — 16 May 2018 — InfoCorp Technologies, a Singapore-registered fintech company and RGK+Z&A Group signed a Memorandum of Understanding with the Livestock Breeding and Veterinary Department of the Ministry of Agriculture, Livestock and Irrigation and Myanma Insurance, an arm of the Ministry of Planning and Finance, for the deployment of a joint pilot project to perform the Tamper-Proof Livestock Identification tagging using InfoCorp’s Sentinel Chain technology in selected areas of Myanmar which include Yangon, Mandalay Divisions and Nay Pyi Taw.
The MoU was signed and agreed between Mr. Roy Lai, Founder and CEO of InfoCorp Technologies, Mr. Zeya Mon, Chairman and Group CEO of RGK+Z&A Group and Dr Sandar Oo, Managing Director of Myanma Insurance at the office of Myanma Insurance in Yangon this morning.
This ceremony marks a significant step towards shared values of financial inclusion for farming communities in Myanmar.
Read the press release published by The Myanmar Times (English): https://www.mmtimes.com/news/government-partners-fintech-firms-enable-use-livestock-collateral.html
Read the story published by Frontier Myanmar (Burmese): https://frontiermyanmar.net/mm/news/9735
About InfoCorp Technologies
InfoCorp Technologies is a Singapore-registered fintech company that provides the infrastructure to accelerate financial inclusion to unbanked and underserved communities through the use of blockchain technology.
About RGK+Z&A Group
RGK+Z&A Group is a Singapore-Myanmar based company with diverse business interests, having its footprints in Power, HVAC, Medical Systems, Electronics, Transport and Environment.
About Myanma Insurance
Myanma Insurance, the state-owned insurance company, was founded in 1952 and started as a life insurer. Currently, it provides both life and non-life insurance products and services.
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