Weekly Progress Update (18 to 24 June)

A. Technical Development

CrossPay App Development

1. We have released an upgraded v1.9 for internal QC testing. We have completed new features such as:

(a) storing the livestock and its owner’s identity on blockchain.

(b) generating QR code that contains the livestock address. This feature allows attesters to easily retrieve and verify livestock and it’s owner details.

(c) new API to generate an unique serial number for each livestock, to support digital livestock asset identification.

(d) upload multiple images in CrossPay mobile, livestock owners can now upload and store multiple digital certificate images of their livestock.

2. Our team has also made good progress in refactoring the backend code, such as adding timestamp to each table for easy troubleshooting.

Sentinel Chain Development

1. We have completed the Operations Contracts development — extending its features to be synced with our Validators Smart Contracts. With this new feature we can now add an agent to the system (i.e. validators) which will get automatically added to the list on the Operations smart contracts. This contract is a governance contract that will allow Sentinel Chain participants to be informed and to vote on whether or not to conduct the new chain forks.

2. As we move to a new phase on our Sentinel Chain block explorer, we have began the development to integrate our already working token bridge with the block explorer site. This new UI inside the block explorer will allow Sentinel Chain users to see token transfers and bridge events real time.

3. As part of our core infrastructure development we are building a set of Smart Contract Oracles to interact with different sets of information needed to complete our predefined data flows. The first one is the MultiChain Oracle to consume and retrieve data from the CrossPay Network. To achieve this, we have the following development ongoing.

(a) Building the Oracle Smart Contract which runs on Sentinel Chain from where the CrossPay data will be retrieved and stored.

(b) Building the backend trusted service that will feed the data to be consumed by the contract. We have chosen NodejS Javascript Runtime platform for this development.

B. Country updates

Myanmar

1. Livestock Breeding and Veterinary Department (LBVD), an arm of the Ministry of Agriculture, Livestock and Irrigation (MoALI) has assigned 2 new regions (Sagaing and Magway) for our Joint Pilot Project. LBVD has also nominated 2 veterinary experts to travel with our InfoCorp Technologies team to carry out our Project in these 2 regions.

2. Our discussions with Myanma Insurance have progressed in-depth to cover policy and underwriting to facilitate verification tools and gateway for approval.

Latin America

1. La Segunda Insurance Group (Argentina) has invited Bernardo Corti, our Country Manager to share our Sentinel Chain solution with the team.

C. PR, Marketing, Community Engagement

1. Our founder and CEO Roy Lai was at the United Nations in Bangkok on 20 June presenting Sentinel Chain as a real solution to the global problem of financial inclusion — igniting curiosity, interest and questions from members and partners of United Nations Capital Development Fund (UNCDF) and USAID who were in attendance.

2. 2nd Blockchain for Finance Conference, Singapore. Our blockchain project raised eyebrows and sparked interest among the financial heavyweights and blockchain experts at the BFCAPAC on 20–21 June. The conference was a gathering of global thought leaders and decision makers, with a focus on embracing innovation through blockchain for the future of financial services. Roy Lai was on the mainstage presenting Sentinel Chain as a Blockchain Financial Inclusion Use Case to key technology stakeholders of financial institutions.

D. Meetups

13 July: When Moo? Sentinel Chain Sydney Meetup

Understand more about the unbanked population and the 72% of ASEAN citizens who are without bank accounts to realise the opportunity this presents. Hear how blockchain can help you tap into “Dead Capital” trapped within Farmers livestock to help these individuals to gain access to alternative financing. Assess how Sentinel Chain offers a new way of solving the financial inclusion problem by combining livestock provenance to create collateralisable loans via blockchain.

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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