Will blockchain take away risk in factoring or is fraud still an issue in the industry?
Fraud is, unfortunately, an ongoing issue within the factoring industry. When it comes to Blockchain, well it’s difficult to judge as this technology is still under development – but yes, it could be a promising opportunity for fraud prevention. However, I’m not yet sure how to handle and receive fraud protection in a complete technological way. The range of fraud seems endless when considering seller and buyers collaborating to raise funds, for instance. When it comes to Fintech, I haven’t seen a complete solution yet.
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