BlockchainRise-x.io is building THE digital platform for next generation companies. Its DIANA platform wraps blockchain, AI, and IoT into a simple user interface where companies can quickly design and deploy digital workflows that execute in the cloud.

DIANA, is an acronym that describes the platform’s goal to enable business processes that are Digital, Decentralized, Dynamic, Intelligent, Atomic, Negentropic and Autonomous.

Put simply, the platform helps companies to digitalise and automate workflows across their business ecosystem enabling smarter, faster, and improved business operations.

“Every enterprise operates in an ecosystem,” explains Rowan Fenn, Co-founder and CEO at rise-x.io. “Traditional enterprise solutions are designed to optimize the enterprise, not the ecosystem. Unlike traditional enterprise solutions, DIANA uses blockchain technology to support safe, secure, multi-party workflows between many companies in a business ecosystem.”

Companies taking part in a DIANA workflow are connected to a shared experience and a common ‘source of truth.’ This allows companies in a value chain, or across a supply chain, to work together delivering better products and services faster, and at lower cost. DIANA offers a comprehensive toolkit for companies to optimize their enterprise and their role in the ecosystem.

Companies using DIANA expect to deliver superior customer experiences, faster growth, and better operating margins by eliminating friction costs, removing redundancy and improving transparency between companies. Clients also produce less waste, hold less inventory, and use fewer inputs per unit of output. In short, DIANA helps companies to do much more with much less.

“We built and configured DIANA to enable complex, multi-party workflow design and automation,” explains Fenn. “Companies can design and run any business process on the DIANA platform. We like to think of it as business process virtualization or business process as a service, and we believe it will become the new norm replacing strategies like outsourcing, offshoring, or nearshoring going forward.”

Working with industry leaders to overcome barriers, and build momentum

To prove the concept of business process virtualization and the DIANA platform, rise-x.io has been collaborating with world-leading organizations to build working software for specific industry use cases. To date, the company has deployed 3 products across the oil and gas, marine, and healthcare industries, and currently has operations in the US, Singapore, Europe, and Australia. The team at rise-x.io has collaborated with many organizations ranging from small industry service providers to large multinationals and government entities in order to capture requirements across the business spectrum.

Rise-x.io has been consistently recognized for its innovation and industry impact, being awarded Top 10 Enterprise Start-Ups 2019, Top 10 Blockchain Start-Ups 2019, and 30 Best Tech Start-Ups Asia 2020 by various media publications worldwide. Currently the company is focused on building traction and momentum for each of its products (which are built on top of the DIANA platform) as well as for the DIANA platform itself.

For the marine industry, rise-x.io has developed QuayChain, the world's first end-to-end digital platform designed to automate the bunker (ship refueling) management process from sourcing right through to settlement. The platform has gained significant traction within Europe, the UAE, and Singapore, and is expected to undergo a pilot program with multiple ecosystem participants in early 2021.

In Australia, rise-x.io is working with industry partners to pilot their marine biosecurity management platform. BioPass is the world's first blockchain-based biosecurity management platform designed to help shipping companies automate and execute a biofouling management plan, improve asset operational efficiency, and protect global marine life. BioPass is expected to move into commercial operation in early 2021.

SysteMedic was a product developed in response to the COVID-19 health crisis. Using blockchain technology to capture verified testing results from authorized healthcare professionals, SysteMedic provides individuals with a ‘Health Pass’ which indicates the COVID-19 status of the patient. Health records are owned, managed, and controlled by the patient. The team is currently working with industry partners to build and test a simple application that integrates with online airline ticket booking systems to allow people to travel across international borders in a COVID-safe way.

Rising to market challenges

Working closely with industry is key to broad-based adoption of technologies like DIANA. The team at rise-x.io has proven it can build leading-edge technology, however guiding users to the platform, and aligning and managing stakeholders' interests is challenging requiring courage and leadership from influential stakeholders.

“No one wants to be first, and no one wants to miss out on the next big innovation,” explains Fenn, “The support of our industry partners is paramount, and we have been fortunate to gain the backing of several reputable companies who are well regarded and respected across their respective industries. We admire our partners courage to be the first or early adopters, and for highlighting and demonstrating how fast followers can be.”

The ability to access, interest, and on-board global firms is a credit to the rise-x.io team, whose members have many years of accumulated experience working at companies like Accenture and Deloitte, and who are familiar with the expectations required from some of the world's largest and most admired firms.

Looking to the future. Building conscious industries

The team shares a vision of the future where its DIANA platform both coordinates and operates end-to-end value chains and global supply chains, or as Fenn says, “the world's largest and most-interconnected robots.”  But every big idea starts with small steps. Currently, the team is focused on developing the platform to enable cross-company workflow integration and digitalization, thus enabling companies across an industry to share data and coordinate activities to improve workforce productivity.

Over the next 2 years the goal is to deliver cross-company workflow automation and optimization in QuayChain and BioPass, using extended intelligence capabilities embedded in the DIANA platform. “End to end digitalization of an ecosystem process is the first step to building intelligent autonomous business platforms,” says Fenn. “We have already demonstrated that we can digitalize workflows across multiple companies and create a shared source of truth. The next step is to work with our industry partners to build trust in the platform by slowly delegating and asigning more work activities and decisions to the platform until we deliver a fully automated supply chain process.”

Within the next 2-5 years, rise-x.io believes they can develop ‘digital twins’ of supply chains. Here the goal is to utilise advanced analytics, ML and AI capabilities to identify patterns across an asset management ecosystem, allowing  the pre-position of assets, people and material for more responsive capabilities, thereby optimizing resource utilization and increasing productivity.

In 5+ years, rise-x.io believes its platform can deliver truly ‘conscious industries,’ where assets are self-aware and ecosystems self-optimizing. “With IoT integration to connect billions of sensors directly to DIANA, the team is building highly connected, trust-based ecosystems with the ability to work autonomously and on a global scale,” concludes Fenn.