2017 was the year of the crypto ICO boom, when hundreds of projects appeared on the market. Though many questionable projects were birthed in this timeframe, the era also delivered genuine gems to the crypto space. Lina Network is one of those gems. The Vietnamese Startup was established in late 2017 and has headquarters in both Vietnam and Switzerland. The initial mission of the project was to leverage blockchain technology to Vietnams’ agricultural sector in order to increase competitiveness on the world stage.
Supply Chain has been one of the first applications of blockchain at the enterprise level, and Lina Network was able to capture some of that demand early on in the South East Asian market. While Lina focuses on several areas including digital identity, lina review, healthcare and supply chain, they’ve seen the most traction in the supply chain sector by partnering with eight major Tahi agricultural corporations.
Why Lina Network for Supply Chain?
Lina network is built on Ethereum, like many other projects that launched in 2017. However, well aware of network congestion and potentially high transaction fees on Ethereum, the team deployed a hybrid infrastructure which involved bridging the Ethereum Main Net and to Lina CORE.
Lina CORE is a highly scalable private blockchain that records transactions from Lina applications and stores them on a decentralized ledger. With this structure, Lina Apps can avoid high network fees and reach higher scalability than if they were operating on the Ethereum network alone.
When corporations use the Lina Network for supply chain management, they benefit from increased security, transparency and efficiency. Traditional supply chains are often scattered. Every supplier or storage facility that forms part of the chain can have different methods or processes to report on what was done with a product.
With blockchain technology, anyone can trace products on an immutable ledger, which removes the ability for data to be tampered with. This means that when all involved parties of a supply chain are working on the same blockchain platform, inefficiencies from a lack of standardization are removed from every stage of the supply chain.
By storing all data on the blockchain, enterprise users can reduce costs, avoid commercial fraud, and increase traceability. This also helps companies detect errors at every stage of the supply chain. This also benefits consumers, as the immutable ledger allows anyone to track products from each stage of production.
Lina also has several other applications, such as Lina.Review which aims at providing users with genuine reviews for a multitude of different products. This eliminates the issue of fake reviews and reviews paid for by manufacturers.
Another promising service is Lina eGovernment which is designed to help governments create electronic identification systems to increase efficiency in bureaucratic processes and ease of use for citizens. A sampling of apps that form of the Lina network can be seen in the below image.
LINA token, an ERC-20 token fuels the entire LINA ecosystem. With a maximum supply set to 900 million LINA, 33.33% of the supply were sold in a public sale in 2017. The remaining 66.66% of the supply are locked into a smart contract to be released over a time horizon of 10 years.
Tokens on the Lina core sidechain and the Lina network on Ethereum are connected through the Lina bridge, which allows Lina core to synch with the Lina token smart contract on Ethereum making the tokens interchangeable.