On the 4th of December 2018, Bangkok’s Infinity Blockchain Ventures (IBV) and LogisticsX (LGX) went in with each other and signed a Memorandum of Understanding to support LogisticsX penetration into Southeast Asia market, especially in this three countries – Thailand, Vietnam and Malaysia. This MOU will enable both IBV and LogisticsX to further their goal of building sustained collaborations with both the institutions.

IBV will be able to lend their expertise at fast tracking LogisticsX, a blockchain startup, to greater heights. Their expertise and experience is unparalleled, as seen from their track record- from being mentioned in Forbes all the way to The Business Times, they are a leading firm with the Asian Blockchain Review. By being able to provide LogisticsX with practical and efficient solutions, LogisticsX will be able to bring their revolutionary idea to life.

Nicole Nguyen, Head of Asia Pacific for IBV, said:

This partnership is key because not only are we able to complement our own key strengths by coming up with the best solutions, but we are able to take such an important role LogisticsX is playing in the blockchain field, and take it to the next level. Therefore, both of our interests are covered, and our marketing strategies are also improved.

IBV is a dedicated and dynamic firm that aims to provide practical Blockchain solutions. Aiming to raise blockchain awareness, by spearheading blockchain businesses through the best business based decisions. IBV provides the exact framework for new blockchain based businesses need to grow- this is through solution architecture, development support, incubation and acceleration and finally venture capital funding. IBV connects other people in the Blockchain industry by organizing monthly meet-ups partnering with Bitcoin Addict, which is the largest Blockchain community in Thailand with over 5,000 members.

Erik Cheong, COO of LogisticsX, shared that:

We are thrilled to be able to work with IBV and create collaborations with one another. We are also looking forward to seeing what ideas IBV and LogisticsX come up with together. Both IBV and LogisticsX have a shared goal of improving day to day life with blockchain, hence we will both benefit from more exposure which this partnership will aid with.

LogisticsX is a decentralized platform that aims to transform the last mile delivery ecosystem by enforcing global logistics standards using smart contracts to increase traceability, transparency, and reducing friction between all logistics stakeholders and consumers. They recently secured US$3 million in a private round of funding from ICON Foundation, De-Block & Bluewhale Foundation, Gilga Venture Capital, Inchain Capital & CRC Capital. By partnering with IBV, we continue to have our foot in the door and love participating in organized events to meet like minded people and collaborating.