Debating the problem with introducing Blockchain to receivables finance
The problem is more a political one, when you think about it, because the technology is quite advanced. Even with Blockchain, it’s not that you can just incorporate it yet. You have to get everybody on board with your platform. For example, create a small consortium Blockchain and use it as a recording tool of transactions and for transparency reasons. It’s also a recording tool for ratings, if you have a very weak or small supplier in the supply chain that doesn’t have a rating or is a start-up company but it’s an important service and you still want to include them, it’s hard to convince people to do business with them.
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