Singaporean blockchain company PLMP Fintech has signed an MOU this afternoon 
with the Agency for Free Trade Zone and Free Port of Batam and Indonesian firm 
Central Distribusi Batam for the development of a multi-million project in 
partnership with the Ministry of Trade that aims at reshaping the whole 
country's logistics sector starting from the biggest island of the Riau 
Province.

The pilot phase will see the implementation in Batam of PLMP Fintech's own 
Creatanium blockchain protocol to standardise the bidding exercise between 
buyers and sellers of agricultural commodities. "Both parties will benefit from 
a simplified process where offering prices and trading are conducted openly and 
transparently", says Clayton Ong, the tech firm's appointed Country Manager 
that will oversee operations as they are gradually extended to the whole of 
Indonesia.

With one of the world's largest populations and a challenging territory that 
encompasses thousands of islands and hectares of jungle, Indonesia can make 
best use of a blockchain-based tracking platform to turn its time-consuming 
supply chain into an efficient machine. "Our solutions will allow for 
round-the-clock updates on the exact location of moving goods to prevent delays 
and optimise the whole process", explains PLMP Fintech's Co-Founder Kym Kee 
during her presentation.

Indonesia's logistics sector has a significant impact on the country's GDP with 
costs that can be more than twice those of its neighbouring countries with 
imbalances also at national levels. Where inefficiencies in the transportation 
and delivery of goods within certain territories lead to higher prices for 
basic commodities like rice or sugar, PLMP Fintech's blockchain solutions can 
bring the transparency and traceability needed to create an even ground.

The project is part of PLMP Fintech's vision to build up a strong blockchain 
ecosystem made unique by the use of its own protocol and a diversified source 
of revenue from technological solutions to digital assets. Backed by a number 
of projects already in the pipeline around Southeast Asia, last one of which in 
Batam, and by market confidence, the company's own digital currency Creatanium 
has already surpassed parity with the US dollar in less than a year from its 
launch in May 2018.

For Media Enquiries, Please Contact:

PLMP Fintech
media.comms@creataniumblockchain.com
(+65) 9420 6535

SOURCE  PLMP FinTech