The term ‘blockchain’ is becoming a buzzword in the entrepreneurial landscape, given how this powerful technology can impact businesses big and small. In this week’s Community Feature, we had the privilege of meeting with Samir Neji, the CEO and founder of one of Singapore’s leading blockchain companies, #dltledgers, to find out more about what they are doing to develop this technology.
What is ‘blockchain’?
Blockchain is a tool that enables instantaneous transactions to happen within a network without a third-party. These transactions are completely secure and recorded and are difficult to change once data has been added to the chain.
What does #dltledgers do?
#dltledgers is an inter-enterprise software platform that has been running for three years, and they specialize in blockchain technology. Their clientele revolves around those who import and export, and range from small SMEs to large global trade houses.
The company specifically looks into unique issues within the realm of trade finance and cross-border trade. They are looking to “uberize” transactions between banks, traders, and shippers by streamlining the entire flow of documents, contracts, money, and goods, into one common framework. The potential integration that DLT Ledgers offers will bring many benefits to businesses, including improved speed of execution, greater transaction transparency, and better securitization.
Milestones for #dltledgers
Through their sheer hard work, the company managed to grow rapidly within nine months of launching their platform, and still continue to grow given the market’s demand for their technology. To date, the company has reached 341 traders, and done almost a billion dollars’ worth of financial transactions via their platform.
Reaching a billion dollars in trade transaction was no easy feat. According to CEO and founder, Samir Neji, the company maintains their competitive advantage by working with clients to ensure they have payable financing and structured loans when doing international trade, such that these clients have the best deals in the market.
The company also frequently looks out for opportunities. For example, when banks began digitizing themselves, the company leveraged on this to highlight how their blockchain technology is capable of solving the many issues that come with digitization.
The Evolution of Singapore’s Entrepreneurial Landscape
Having been in the entrepreneurial scene for the last 18 years, Samir has seen plenty. He mentioned how the entrepreneurial route has evolved from a less ‘fashionable’ path to a path sought by many. Now, even the government is extending its support to start-ups, adding value to how these start-ups can contribute to the industry and economy. Samir is very happy to see how much the start-up ecosystem has grown, including the extensive support provided, which was not available during his early entrepreneurial days. He also emphasizes how this opportunity is unique to Singapore and cannot be found anywhere else.
What’s next for #dltledgers?
The company is currently embarking on global expansion. Through collaborations with overseas entrepreneurs, they hope to set base in those countries as they share their technology with the entrepreneurs. Such strategic partnership can allow #dltledgers to grow and establish themselves in different countries. The company believes in this franchise model as it has proven to reduce the cost of expansion yet accelerate the process of releasing the technology to the market.
In an analogy provided by Samir, he mentioned “It is as though I have my company in San Francisco, but I do not have an ambition to have said company in every market. So, #dltledgers will be the brand, but our partners will have their own established company out there and we share 30% of the revenue.”
For Aspiring Entrepreneurs…
Some questions that Samir pondered upon during his entrepreneurial journey were:
- What is the unique business problem in which you are solving?
- Can you earn through this?
Watch the full video interview with Samir from #dltledgers here:
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