SOUTH BEND, Ind., May 10, 2019 /PRNewswire/ -- SIMBA Chain, the premier source of Cloud-based, blockchain as a service (BaaS) solutions, will debut its next release at Consensus 2019, May 13-15, in New York City. The robust release features the ingenious coupling of the Stellar blockchain payment network for cross-asset transfers with SIMBA Chain's private permissioned Ethereum network for supply chain.
SIMBA Chain CEO Joel Neidig chose Consensus 2019 for the new release launch for its reputation as the most influential blockchain and digital assets event of the year, with more than 8,000 attendees and thought leaders from around the world. He believes SIMBA Chain's muscled up blockchain solution has the potential to replace inefficient, cumbersome legacy technologies currently used by global banking and the supply chain industry. Neidig will be demonstrating the new release along with representatives from Stellar at the SIMBA Chain Booth #408.
"Simple business transactions such as wiring funds and managing transactions are anything but simple. The lack of visibility masks all types of errors and inefficiencies and is very harmful to business," Neidig said. "The Stellar network is a distributed blockchain-based ledger and database that facilitates cross-asset transfers of value such as payments. It allows banks to use fiat currency to transfer funds to another currency or use Stellar's native currency, Lumens, making the transfer of U.S. dollars to Euros or to another currency simple and without having to support all currencies, which is difficult to do. Adding Stellar to SIMBA Chain's BaaS model will make it easy to create custom blockchain dApps for banks."
Neidig says Stellar plus SIMBA Chain's private permissioned Ethereum network for supply chain has the potential to streamline complex supply chain enterprises by tying digital money transfers with physical goods and communications in real time. "In today's global markets, relying on EDI to electronically manage supply chain transactions creates more issues than it solves. Our new release will enable manufacturers to manage transactions like purchase orders, bills of lading, shipment notices, and invoices and verify payments concurrently via Stellar's public payment network. It's a killer solution and the reason SIMBA Chain is developing the next generations of APIs that will make it easy for users, enterprises, and governments to adopt blockchain for their supply chains."
"We're looking forward to seeing what efficiencies SIMBA Chain will help unlock with this solution. Their cloud-based platform provides enterprise with an intuitive path for launching decentralized applications," said Boris Reznikov, Director of Partnerships at Stellar.org.
About SIMBA Chain, Inc.
SIMBA Chain was established in 2017 as the result of a grant awarded by the Defense Advanced Research Projects Agency (DARPA) to the University of Notre Dame Center for Research Computing and ITAMCO to develop a secure, unhackable messaging and transaction platform for the U.S. military. SIMBA Chain's cloud-based, blockchain-as-a-service (BaaS) platform enables users, developers, government, and enterprises to quickly develop and deploy blockchain dapps for iOS, Android, and the web. SIMBA Chain is the recipient of TechPoint's 2019 Mira Award for New Product of the Year and 1st Source Bank's Commercialization Award.
SOURCE SIMBA Chain