INSUBCONTINENT EXCLUSIVE:
While the cryptocurrency world continues to swirl around in a daze of troughs and highs, startups are continuing to make use of the
fundamental underlying strengths of blockchain technology.
A new entrant in this race is Tradeshift, a leading players in supply-chain
payments and marketplaces, which is today launching its new service which enables supports blockchain-based finance, or writing all
transactions to a public ledger in order to create transparency and securing a record.
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,& says CEO and cofounder Christian Lanng.
SO what this all means is that Tradeshift 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 aiming at 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.
In other words, this could be a
boon for small suppliers who 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.
