Recently in the financial world with bloccano expectations. HSBC and Bank of America are working together with HyperLedger; R3 cooperates with 15 banks with the help of Corda; Ripple works together with Standard Chartered and DBS; finally, JPMorgan is doing a joint project together with the Digital Asset Holdings.
It is only the largest platform and the real giants of the industry, however, there are many other outstanding companies that for the solution of financial problems are increasingly using the blockchain. We offer you a review of five of them: casual, origin, Skuchain, Tallysticks and waves.
Founded in 2014, the company Fluent is a blockchain-based financial network and payment platform that allow large companies to optimize the supply chain. Network Fluent Network, launched in March 2016, provides an inexpensive, simple and safe system for billing and processing payments in real time. The system is made on the basis of the blockchain and is intended for banks, financial institutions and other large organizations.
Fluent in Network payments associated with invoices using digital tokens. Once a buyer prepares an invoice, the goods are automatically sent, while the digital tokens to prevent duplication in the network of the same payment. The buyer pays his bill directly to the provider, eliminating the need to keep inventories and reduces the risk of non-payment.
The system uses special, custom blockchain, the nodes of which are associated with companies and various financial institutions. Digital tokens are denominated in USD with a constant rate of 1:1, so there is price volatility, with the Fluent network Network in no way depends on the bitcoin blockchain.
In addition to networking, the company Fluent develops on the basis of their system of different applications and solutions to increase efficiency and transparency, and to improve communication between all elements of the supply chain. Here are some of them:
– Global Payment Platform that offers businesses to send and receive payments in real time both inside the company and with suppliers all over the world;
– Supply Chain Financing Platform, financial platform that provides suppliers with the opportunity to repay receivables in one-click;
– Receivables Marketplace, allowing you to transfer the receivables on a "trading facility with higher interest rate" (as reported on the website of the company);
– Supply Chain Management complete with a variety of instruments, including the electronic issuance of invoices, cloud-based portal for suppliers and other services for collaboration of the supplier with the buyer;
– Developer Platform that allows developers to use the SDK and API for the creation of Fluent private Network solutions.
In November 2015, the company Fluent received preliminary funding in the amount of $875 thousand from various investors, which include Draper Associates, Thomson Reuters, 500 Startups, UMB Bank and SixThirty.
Provenance is not just one of the solutions for supply chains. Keep track of all the goods in the warehouses. The company focuses on the end-user.
The buyer in the supermarket can scan the QR code Provenance and to obtain the most complete information about the history of the product from production to shelf. About how they do it, you can find here. But the main idea is the presence of all physical goods digital passport: this will not only create transparency and trust, but also hurt to sell stolen or counterfeit goods.
The ultimate goal of Provenance is to reduce losses from counterfeiting at $250 billion, which today are businessmen and buyers. In addition, the traceability of goods has a positive social role and helps to save the environment.
The company has just completed a six-month experiment in tracking caught off the coast of Indonesia's tuna. The fishermen send textual information about the catch, which is then entered into the blockchain Provenance, and the result is a digital token to fish, which runs through the entire supply chain. Provenance works with activists for the protection of the environment, who want to make sure for the origin of the products.
In his work, Provenance is the block chain of bitcoin and ether.
Located in mountain view Skuchain full swing nazivaet cooperation with international banks. Recently, the company announced the receipt of funding from the Digital Currency Group, Amino Fenbushi Capital and Capital, China's first venture capital Fund dedicated to the financing companies using the blockchain. Skuchain purpose is to replace letters of credit to Commerce a new type of in which the financiers from rich countries can invest in the economy of less developed countries without having to have any information about companies with whom they will cooperate.
"In today's world, banks make money on letters of credit, but even bankers say that they are not satisfied with this technology: it imposes risks for bankers", – told the publication International Business Times Travis Giggy, one of the leaders Skuchain.
"Despite the fact that consumer credit cost 1-3 %, banks do not earn on this service is especially busy. Too much trouble sending documents by Express mail and manual labor for the inspection of documents, explains, Giggy. But they can not refuse the credit, as is the opportunity to participate in a real business that makes money."
Speaking of people who, instead of letters of credit has started to use Bank accounts, Giggy noticed that for the banks it is also not very convenient, because the Bank does not see what kind of activities are conducted: "[opening a Bank account] says only that there are two people doing business with each other, and that their Bank accounts have been translated. And we are now working with banks to create a new version of akreditiva based on the blockchain".
Giggi also noted that the blockchain Skuchain combines a variety of technologies. Here used address multimediali, and the team of the bitcoin blockchain OP_RETURN, and proprietary technology assets of the chain, arranged in such a way that all its members trust each other and executes the rule "know your customer".
In the foreseeable future Skuchain plans to introduce a service called Blockice designed for banks, corporations, logistics companies, government agencies and all who may require the supply chain. Also Skuchain going to carry through the blockchain notarization, the transfer of ownership and ownership chaining.
Tallysticks – this company and its program that uses the technology of distributed registry for the creation, safe payment and processing of invoices. There is integration with ERP and accounting systems to create a registry of invoices and related payments. The use of technology are smart contracts and distributed registry enables you to verify the payment accounts including in automatic mode.
The book is not to be modified entries dedicated to the invoices and signed by both parties to the transaction, may be useful in lending. Such an integrated solution as Tallysticks, saving the lender the slightest doubt that he will receive a properly signed and audited accounts in digital form, and transparency of operations reduces the risk of fraud and error.
When the customer or debtor pays, the Tallysticks sends the payment to the Bank account of the lender, not the borrower. It is unnecessary to escrow, and there is no need to change payment details, able in some cases to significantly slow down the process of payment.
As a result, selling paid bills in the secondary market, lenders increase your balance of payment and reduce risks. Also Tallysticks has a special module, by which the lender can make the invoice more secure. Thus through the use of smart contracts where most of the action occurs in an automatic mode.
To learn more about Tallysticks on the F6S website and the program itself is easy to find via Barclays Accelerator.
Company Wave in the end of last year received support from the Barclays accelerator in the transition to digital bills of lading. And although the Wave has a more narrow activity, it seems, quite able to compete with Skuchain.
Reporters found that PYMNTS.com by asking representatives of the Wave on the prospects of the blockchain, for the company main advantage of this technology is to facilitate international trade.
"The blockchain is a very good solution in order to make international trade easier, – said the founder of Wave Gadi Ruchin. Is the area that brings together all industry, because all industries are at some level or importers, or exporters. If the transaction involves the transport company, the Bank and the customer, it is difficult to find a single enterprise with which they can work."
Wave utilizes electronic documents that are stored in the metadata of the blockchain. The blockchain is the connecting link between the two sides. The company considers its services as a way to replace traditional bills of lading used by the trading partners to provide information on the supply. Such a document is always included with invoices and certificates.
"All of these processes are based on outdated tools in the supply chain," explained Ruchin, adding that it deserves special attention the problem of fraud with paper documents.
While Ruchin noticed that the company Wave is not transmitting anything through the blockchain, but to use technology to "specify the rights of ownership each document or unit of transported goods". While the technology used is such that it does not require any specific kind of blockchain, including the network of bitcoin. Wave expect to reach the level of development in which the interaction with any bloccano will become a reality. Now the possibility is in the test networks of bitcoin and litecoin, but the existing protocols of digital currencies is not supported yet.
Blockfreight is a new company established in the Technology center of bitcoin in Melbourne, Australia. The company has created the John Mckernan (Chairman), Andrew ed (Director) and Julian Smith (Director-General) for the use of the blockchain in the container supply of goods. About what plans to pursue the company can be read on its website.
Another startup, BlockVerify, and aims to prevent fraud from such things as prescription drugs, luxury goods and electronics.
Against this background, the firm Consentio starts optimizaciju commercial processes. It does not deal with bills of lading and container shipments, instead offering solutions for a more convenient transferring goods across intra-European borders. Working with a regulated payment platforms, Consentio in the future intends to digitize the supply chain, making the blockchain proof of the immutability of documents and payments that can make them much more comfortable and safe than it is now.
The company Chain of Things combines the technology of the blockchain and the Internet of things for supply chain management. While the data are not included in the blockchain, they must pass the approval. And for this the company is developing a sensor chip that will help to obtain and monitor a variety of data.
In Everledger meanwhile create a solution for tracking diamonds from the mine to the end user: the hot stones are included in a special database for the insurance companies, which can significantly reduce insurance fraud and the jewel.
Similar mission and performs the startup Open Trade Docs, offering to supply chains, own software open source. Their goal is to provide the best conditions for clients through the use of private blockchains.
Finally, Zerado – firm engaged in the consultations about the use of new technologies, have recently created their own app called "Coffee shop". Recalling the days when businessmen were discussing a commercial transaction over a Cup of coffee, "Coffee shop" has all chances to become an application that allows to make transactions in the spirit of the XXI century.
Source: coinspot
