D3 Labs Presents Blockchain-Based Financial Infrastructure for B2B

Concept programmable money technology enabled blockchain has the potential to revolutionize the way transactions, investments and financial management are conducted in Indonesia. This technology allows automation of financial processes, reduces friction, and increases efficiency.

Seeing this opportunity, D3 Labs present to provide solutions and technology infrastructure to realize this concept. To DailySocial.id, D3 Lab Co-CEO Chung Ying and Tigran Adiwirya conveyed their startup plans to acquire more clients and their intention to expand.

Target corporations to industries Gaming

Indonesia is currently undergoing a technological transformation that could change the overall financial landscape. Programmable money tech blockchain offers the potential to increase financial inclusion, simplify transactions, and create innovative investment opportunities.

Although technically and experienced platforms from the United States such as Paxos to Circle offers this technology, but is still hampered by very expensive costs, a currency that focuses on dollars and other things.

D3 Labs wants to present a similar solution but at a much more affordable cost, focusing on rupiah and a security system in accordance with applicable regulations. The work experience of the founders is already familiar with previous regulators in tokocrypto also used as a value proposition.

"Basically this idea came from we're taking a bet through infrastructure token-based/blockchain-based compared to the infrastructure of The Society for Worldwide Interbank Financial Telecommunications (SWIFT). "Because currently most of the related parties still rely on SWIFT which is quite expensive, we are trying to present a different infrastructure based on this condition," said Tigran.

In exploring business opportunities, D3 Labs targets the B2B segment, starting from corporations, conglomerate groups, logistics companies, industrial Gaming, and others. From the service side, D3 Labs also tries to provide services that are... hands on, meaning they are ready to help their clients anytime and anywhere. This concept is what differentiates D3 Labs from other foreign players.

"At this stage we are an infrastructure provider. For example, if a company currently wants to transfer money via existing payment gateway or other infrastructure, we want to present infrastructure through blockchain-based," said Tigran.

D3Labs' flagship product that has been introduced to the public is SeaSeed. SeaSeed, enables 24/7 automated transactions real-time between companies and other related ecosystems, improving settlement and reconciliation processes. Programmable money can reduce these costs by eliminating middlemen and enabling transactions peer-to-peer.

Currently, D3 Labs has also partnered with private banks as custodians. The banks that have established partnerships are DBS and their strategic investor UOB.

This year the company has also launched an initiative with Bank Indonesia (BI) called "Project Garuda". This initiative was launched for the development of Digital Rupiah. Bank Indonesia has also invited input or views from all stakeholder related to the Consultative Paper (CP) to perfect the Digital Rupiah development design.

The Consultative Paper also discusses the impact of the issuance of the Digital Rupiah on the payment system, financial and monetary stability. D3 Labs together with Indonesian Blockchain Association (ABI) synergize to provide encouragement in the development of the first stage of the Digital Rupiah.

Plans to expand to Singapore next year

Even though it only launched at the beginning of this year, the company has already provided services to two companies and is currently in the process with several other new clients.

In April 2023, D3 Labs also pocketed it pre-start funding with an undisclosed nominal value from a number of investors, including Saison Capital, Kinesys Capital, Arkana Capital, EX Capital, Qredo, DS/X Ventures, as well as UOB Venture Management and Signum Capital through the UVM Signum Blockchain Fund.

When asked about the company's plans for the end of this year, Chung Ying emphasized that the company still wants to increase the number of their clients. Next year, if according to plan, D3 Labs also wants to expand to Singapore. Still in the exploration stage, other expansion plans that D3 Labs will carry out are South Korea and Australia.

"We want to expand in a country that often does business in Indonesia and has close relations with Indonesia. We chose Singapore because we are very familiar with business there," said Chung Ying.

Although currently many investors' focus is shifting to profitability, according to Chung Ying, it is also important for startups to earn money growth which is balanced. To be able to look after runway existing ones, the company is trying to focus on sustainable growth and do not carry out excessive money-burning activities.

"For me it is important to be able to focus growth, however, in my opinion, if there isn't one growth how can you get profit decent. That doesn't mean it doesn't exist growth then profitability can't be achieved, but the ideal is to be able to combine the two," said Chung Ying.

To be able to do scale-up, In the future, they hope to speed up the current process. If in general it takes about one week to implement the process, if the company grows further, it is hoped that the process can run even faster. Apart from that, the industries targeted in the future could also be more varied.

"Now is the right time for us to enter into offering this technology. Judging from the large number enterprise in Indonesia who are trying out technology blockchain, and now there are blockchain expert, is the right time for us to attend," said Chung Ying.

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Disclosure: DS/X Ventures is part of the DailySocial.id group