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Supply Chain Finance Gets Faster, Cheaper with Technology Like Blockchain, IoT

The nature of an immutable, shared blockchain has major implications for supply chain finance, as reported by Christiaan de Goeij and Michiel Steeman at The Payers. Blockchain systems allow significantly increased settlement speeds at lower costs by providing a single source of truth regarding pivotal points in the supply chain, like creditworthiness, supplier inventory levels, purchase order receipt and approval, invoice receipt and approval, and more. IoT proliferation throughout the supply chain will help recognize and automate tasks related to shipment, delivery and quality control. Identity verifications and Do Not Sell lists that often require multiple independent verifications are also ideal targets for immutable, shared records well-suited for blockchain.

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