SIMBA Chain to Launch Stellar Integration at Consensus 2019

Leading cloud-based, blockchain as a service (BaaS) solutions provider, SIMBA Chain, will debut its latest release during the Consensus 2019, from May 13 to 15, in New York. The release includes the revolutionary combination of “the Stellar blockchain payment network for cross-asset transfers with SIMBA Chain’s private permissioned Ethereum network for supply chain.”

Consensus 2019 was selected by SIMBA Chain CEO Joel Neidig for the debut because of its reputation as the blockchain industry’s most influential event, having over 8,000 attendees and thought leaders worldwide. Neidig is confident that SIMBA Chain’s robust blockchain solution can substitute the inefficient, cumbersome legacy techs presently utilized by the supply chain industry and global banking. He will demonstrate the launch together with Stellar representatives at the SIMBA Chain Booth #408.

“Simple business transactions such as wiring funds and managing transactions are anything but simple. The lack of visibility masks all types of errors and inefficiencies and is very harmful to business,” the CEO noted. “The Stellar network is a distributed blockchain-based ledger and database that facilitates cross-asset transfers of value such as payments. It allows banks to use fiat currency to transfer funds to another currency or use Stellar’s native currency, Lumens, making the transfer of U.S. dollars to Euros or to another currency simple and without having to support all currencies, which is difficult to do. Adding Stellar to SIMBA Chain’s BaaS model will make it easy to create custom blockchain dApps for banks.”

According to Neidig, their private permissioned Ethereum network for supply chain plus Stellar can streamline intricate supply chain enterprises through tying digital fund transfers with physical goods as well as communications in real time. “In today’s global markets, relying on EDI to electronically manage supply chain transactions creates more issues than it solves. Our new release will enable manufacturers to manage transactions like purchase orders, bills of lading, shipment notices, and invoices and verify payments concurrently via Stellar’s public payment network. It’s a killer solution and the reason SIMBA Chain is developing the next generations of APIs that will make it easy for users, enterprises, and governments to adopt blockchain for their supply chains.”

“We’re looking forward to seeing what efficiencies SIMBA Chain will help unlock with this solution. Their cloud-based platform provides enterprise with an intuitive path for launching decentralized applications,” Stellar.org’s Director of Partnerships Boris Reznikov stated.