Dubai, UAE, Nov. 15, 2022 (GLOBE NEWSWIRE) — One of the most promising properties of blockchain has been the ability to fractionalise any underlying asset and share the ownership within multiple entities. The implementation of this idea and innovation was majorly restricted to the go-to asset class such as Real Estate, Art works and Commodities.
But with further scope and successful case-studies new asset classes are coming onto Web3 to turn those largely fragmented and centralised industries into more community-centric platforms. One such protocol emerging out is ShipFinex.
To encounter the conventional systems and central-authority dependent financial solutions in the Shipping Finance, ShipFinex is emerging out to revolutionise the trillion-dollar Maritime economy. Started with their launch in July, 2022, they have been able to steer the way to attract sizable traction and are on an eventful spree.
Beginning by participating in community events from India Blockchain Week, Fintech Festival to making their presence at the world stage in Token 2049, Singapore; Fintech Blockchain Summit, Dubai and lastly leaving a big mark at the World Blockchain Summit, Dubai at the Startup World Cup organized by Pegasus Tech Ventures.
The Startup World Cup is a world-renowned competition inviting regional winners from over 70+ countries to compete for a prestigious title of “Best Startup”. The regional chapter for the year 2023 finale started with a bang, showcasing 16 enterprising Startups from the field of Artificial Intelligence, IoT, Food Tech, Development Infrastructure Metaverse and Real-World Asset Tokenisation.
The jury for the Startup World Cup Pitch competition featured an esteemed panel with the likes of Vinnet Budki (Managing Partner & CEO, Cypher Capital), Alexander Fazel (Chief Partnership Officer at SwissBorg), Ajeet Khurana (Founder Reflexical, Ex CEO-Zebpay) bringing together over 100+ experience of running successful tech enterprises and venture capital firms.
Over 16 projects shared the stage with ShipFinex and while all of them had an amazing concept, ShipFinex stood out with its vision of decentralising the Maritime economy and alternative asset investment space and introducing Maritime Assets on-chain. Key components of this positioning were the vision to enable decentralisation in the Maritime sector and the infrastructure layer of real-world asset tokenisation ShipFinex is creating.
ShipFinex is creating a convergence between 2 trillion-dollar markets, converging the two industries into a single solution through a multi-layer infrastructure setup, bringing tokenisation of assets in the maritime industry to address the liquidity flow in the maritime economy, making shipping assets accessible for everyone through Web3-based tools.
According to Vikas Pandey, COO & Co-Founder of ShipFinex
“The overwhelming response received from over 500 attendees as well as the organisers of the event motivated us even further in our mission. We are thrilled to have won the Regional Startup World Cup Pitch Competition and could not be more thankful for the support of the whole Trescon and World Blockchain Summit to conduct this eventful night, bringing together the most sought-after Web3 and Tech community.”
Mr.Jagdish Pandya, Founder of BlockOn Capital , who has incubated many early-stage projects including ShipFinex added
“ShipFinex is the kind of project that uncovers the true potential and purpose of Blockchain technology. In the midst of all the hype and assumptions, we need solutions like ShipFinex to create global impact through real-life use cases. I am excited to see a potential unicorn in Shipfinex and be a part of their progress and entire journey.”
After winning the Regional Chapter in Dubai, ShipFinex Team will fly to San Francisco to participate in the Final Chapter of the Startup World Cup Pitch Competition for the mega prize of $1M and showcase how far along they can take the concept of real-world asset tokenisation and bridge the gap in Shipping Finance through their groundbreaking Web3 solution.