It would seem that start-ups are taking full advantage of the technology blockchain, and it’s potential offerings.
Tradeshift, a leading player in supply-chain payments and marketplaces, has announced a service this week which enables blockchain-based finance, or writing all transactions to a public ledger in order to create transparency and securing a record.
Christian Lanng, CEO and Co-Founder at Tradeshift, said “while this doesn’t involve the use of currencies like actual Bitcoin or Ethereum, having the transactions on a public ledger ensures full transparency and the ability for companies to prove that they have legit transactions.”
In essence, Tradeshift’s cloud platform will bring supply-chain payments, supply-chain finance and blockchain-based early payments together into one unified end-to-end solution, called Tradeshift Pay.
They are setting their sights on a $9 trillion problem, which is the capital trapped in accounts receivable as a result of old-fashioned payment practices and the disconnection between large business buyers and their suppliers.
This solution could be a boon for small suppliers that find it hard to get paid when their invoices aren’t mapped to a ledger as strong as a blockchain.
With this single unified wallet, buyers can use several payment options, including virtual card payments of invoices and purchase orders, dynamic discounting, supply-chain finance through bank partners or blockchain-based payments.
For more information on Tradeshift visit https://sharespace.digital/supplier/tradeshift
To find out more about blockchain you can read this short article Bursting the Blockchain Bubble.
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