Ramco Systems, which makes MRO and other software, and Singapore-based, open-source blockchain developer XinFin FinTech will use the latter’s proprietary XDC01 distributed ledger protocol to build a new architecture based on Ramco software solutions to help provide blockchain-led solutions to Ramco clients.
The companies will work on the hybrid blockchain solutions out of Ramco’s innovation lab in Singapore.
The collaboration will lead to a set of distributed ledgers that can prevent users from sending tokens to incompatible networks or non-existent addresses, a current problem facing the fast-growing blockchain industry.
The new architecture will also reduce congestion of blockchain networks which inhibit security, speed and scalability.
Virender Aggarwal, CEO, Ramco Systems, said the collaboration at its innovation lab in Singapore, a center created with AFI KLM E&M, will focus on solving what he calls “real-life business problems.”
“From HoloLens to bots and face APIs to blockchain, we have been investing in next-gen technologies that will redefine the way enterprise applications are used,” he said. “Our partnership with XinFin will be key to realizing the full potential of blockchain technology in logistics, HR and aviation.”