IPDC Finance in Bangladesh Launches Blockchain-Enabled Finance Platform

Asia Blockchain Review
December 17, 2019

IPDC Finance in Bangladesh recently revealed it launched a blockchain-enabled platform that offers supply chain financing solutions, which will allow small and micro-enterprises in the country to gain access to affordable financial support.

Introducing a Blockchain Solution for Small Businesses

IPDC has unveiled a blockchain-powered platform called Orjon that will offer financing solutions to both large enterprises and small and micro-enterprises, according to The Daily Star. IPDC also stated that blockchain technology will help simplify the lending process while allowing companies easier access to loans at a lower price.

Managing Director of the IPDC Mominul Islam revealed that the organization, which is classified as a non-bank financial institution (NBFI), is targeting small businesses that have faced difficulties in obtaining financial support.

“We have come up with Orjon for those involved in supply and distribution to further enhance the country’s digital supply chain platform,” Islam said.

He added that the institution expected the blockchain platform to provide financial support to over 25,000 small business in the next five years, which will in turn create a large number of new jobs in the market.

Driving Digital Transformation in Bangladesh with Blockchain

Meanwhile, Zunaid Ahmed Palak, State Minister for Information and Communication Technology, revealed that Orjon is one of the “historic landmarks” of Digital Bangladesh, the nation’s initiative to develop an ICT-based society.

“Digital Bangladesh is the philosophy of a revolution. And the latest initiative will give a boost to this end,” he said.

The minister added that the nation will also need “digital leaders” to drive the digital transformation as well as a workforce that can make the vision of a digital future become a reality.

 Source: https://www.thedailystar.net

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