with the SIAchain infrastructure to generate value for firms by disposing of their unsold stock
Milan, 1 August 2019 – SIA, the European hi-tech company, leader in payment services and infrastructures, and Supply@ME, the scale-up of the AvantGarde Group, have signed a partnership agreement to launch - through the SIAchain infrastructure - the new “Inventory Monetization” platform, created by the Milan-based fintech soon to be listed on the London Stock Exchange.
Supply@ME has in fact developed an innovative solution that enables firms to create value from their unsold stock which, thanks to the use of advanced tools such as “smart contracts”, is sold off to companies set up directly by Supply@ME in various European countries with a global reach.
The main aim of the initiative is to consolidate Supply@ME’s leadership in evaluation, monitoring and monetization of the unsold stock of firms in any product sector, through an innovative securitization scheme which a number of institutional finance partners have already joined.
The partnership involves the integration of this application with SIAchain, the private infrastructure created by SIA to support financial institutions, corporates and public administration bodies in the development and implementation, in a secure and protected manner, of innovative applications based on blockchain technology that can count on approximately 570 network nodes in Europe of SIAnet – the high-speed, low latency fiber optic network stretching over 186,000 kilometers.
SIAchain makes available a series of business applications designed to meet the needs of specific communities of members registered and approved in a context of transparency, confidentiality and security.
“Thanks to this new partnership with Supply@ME, SIAchain confirms its role as the leading blockchain architecture in Europe, developing and supporting the launch of mission-critical applications, featuring high performance and security, associated with a clear model of governance. This initiative will further enable us to innovate SIAchain, which today is also able to handle applications based on the Hyperledger Fabric platform, as well as those developed on R3’s Corda and Ethereum", commented Daniele Savarè, SIA Innovation & Business Solutions Director.
"Our funders require from us transparency and resilience, in short, reliability. We are delighted to be working with SIA to create the world’s first infrastructure enabling firms to invest – in a highly innovative way offering the highest levels of data assurance – in the key factor for every company: its inventory, the most significant part of their working capital", stated Alessandro Zamboni, CEO of the AvantGarde Group and Supply@ME.
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