Author: Gan Jia Ci
Despite being in its infancy, Anquan Capital has an impressive technology stack, team and client base.
Anquan Capital is a three-year-old blockchain and cybersecurity company comprising of a superb team of world class entrepreneurs, scientists and advisors. Based in Singapore, the company has strong ties with the National University of Singapore (NUS). One of the three co-founders, Prateek Saxena, is also Assistant Dean Professor of the computer science school at NUS.
“We are building high quality blockchains that are delivering unprecedented levels of security and scalability to marketplaces. The Anquan Permissioned Blockchain [which is powered by Zilliqa] offers high throughput via sharding, and Anquan’s Hardware Rooted Trust technology is used to harden blockchain nodes to deliver highest levels of data privacy,” Head of Business Development Ramya Ravikumar told Block Asia.
Current Projects and Anquan’s Permissioned Blockchain
Block Asia was also curious about the current projects that Anquan Capital has embarked on to drive enterprise use of blockchain technology.
Ravikumar explained, “Right now, we are selecting high quality blockchain projects that require the levels of scale and/or privacy our platform can deliver on. We see many applications in the supply chain space.”
For instance, Bank Negara Indonesia (BNI) has recently partnered with Anquan to use Anquan’s Permissioned Blockchain to build a remittance payment application. This application will allow Indonesian Foreign Domestic Workers in Singapore to send money back home in a cheaper and faster way. BNI will also be using Anquan’s Permissioned Blockchain to build a smarter Letter Of Credit process.
The partnership that was announced in May will allow BNI to reap the benefits of the blockchain network that can process thousands of transactions each second with the highest throughput.
Anquan’s Private Blockchain
Currently, Anquan’s private, permissioned blockchain technology uses the same source code as Zilliqa.
“Heavily regulated industries and most enterprises demand highest levels of data privacy. It is important for them to have highest levels of confidence that data will only be shared on a need-to-know-basis within the blockchain network, and that only authorised participants can join the network. Anquan’s Hardware Rooted Trust technology, which leverages Intel SGX, has given our many banking clients the level of assurance they require around data privacy.”
Ravikumar further explained that while data privacy is important, Anquan’s Permissioned Blockchain delivers privacy and trust without compromising on decentralisation.
The topics on ICOs and the regulations surrounding them have ushered in many differing opinions.
Ravikumar shared hers, “There is a lot of noise surrounding this space with many bad ICOs projects, scams and hacks. I believe the average crypto investor today is very different from even 4 months ago – the average investor is more knowledgable and knows that a technical whitepaper is not enough. They demand to meet the team, demand to see a legitimate business plan, strategy and some form of demonstration of the idea.”
“With this higher investor knowledge base, the bad ICO projects are naturally being weeded out faster in the market, but there is still a long way to go! I came from a heavily regulated industry and have seen many unintended consequences of regulations. Governments should stay close to industry participants, especially legitimate projects and successful ICOs, to learn from them and issue healthy regulations that protect investors and promote the growth of good projects.”
Anquan sees high levels of interest in utilising blockchain technology to establish traceability and transparency across supply chains for efficient inventory management, combatting fraudulent behaviour, establishing provenance and proving sustainability initiatives. Proving the provenance helps build higher levels of trust between brands and customers, suppliers and purchasers, and other participants across supply chains.