Rise-x: Supply chain Automation through Blockchain

The team is focused on making the adoption of blockchain simple for large enterprises by making barriers to adoption as low as possible. Critical to the long term success of the platform is the companies exhaustive integration approach, making the platform complementary to legacy enterprise stacks rather than demanding that companies transition from their legacy platforms. "We have to be able to integrate with legacy enterprise if we are to overcome the inertia of legacy infrastructure that prevents so many companies from taking on anything new for fear of failure. "Customers can easily connect to our ecosystem. Whether they are very large or tiny companies, they can interact and transact across a common digital infrastructure," adds Fenn.

Rise-x engages directly with clients using a multidisciplinary team of project managers, solution architects, designers, and business analysts to understand the client's problem and requirements holistically.

Applying their research and design methods, the team carefully analyzes their client's business process to identify any inefficiency or waste that may exist. Using this insight, they focus on how to apply their technology best to create a solution that automates redundant steps, reduces waste, and delivers value for their customers.

After ideating a solution, the company creates a rapid prototype that the client can experiment with and provide feedback, and based on that; the solution moves to the development phase. Depending on the scope of the problem, Rise-x ensures to deliver an end to end solution within six to twelve weeks from a development point of view.

For instance, Rise-x collaborated with Franmarine Underwater Services, a diving company that performs maintenance work on the hulls of vessels, on an asset management platform designed specifically to digitize and to automate the process of hull performance servicing- BioPass.

The driver behind this project was the International Maritime Organization's (IMO) biofouling guidelines to protect the marine environment. Franmarine was providing inspection and cleaning services to a number of large ship companies who were denied entry in New Zealand due to dirty hulls. These ships had to return to a Singapore dry dock to be cleaned and receive a clean hull certification. Not only was this procedure costly for the shipping companies, it was completely manual and paper-based.

Using the BioPass platform, Franmarine can track and manage its entire workflow, from sourcing new jobs to resourcing staff, to deliver services, to settlement. Every event that took place throughout the process, who completed it and any other pertinent information is captured and recorded on the blockchain.

This type of blockchain application provides all parties with complete traceability and transparency across the hull maintenance supply chain. Information regarding the biofouling state of a ship's hull can now be shared effortlessly with port authorities as well as other interested stakeholders in a single environment.

Looking forward, Rise-x's goal is to develop its platform to be more consumable by focusing on making it completely adaptable and configurable to suit any use case in any supply chain. The firm has already made a mark for itself in Australia and established a presence in Singapore and Europe. "The technology is broadly applicable to several common business processes, like supply chain management or asset management. Compared to the way we used to architect and enable processes, blockchain offers large companies an opportunity to transform their business fundamentally. The trend is only emerging, but it is gaining traction and accelerating fast. We are working hard to give ourselves the best opportunity to scale this technology in as many applications as possible," concludes Rowan.