B2B Blockchain Realizations | PaymentsJournal

In an April 2019 viewpoint titled “Blockchain B2B Is Starting To Turn The Corner,” Mercator Advisory Group noted that while the scale remains small, blockchain technology is beginning to take hold, with trade services as a sector realizing “additional value, both in potential costs savings and opening up greater trade financing opportunities.”

 Today, retail giants like Walmart are realizing those benefits with advanced blockchain implementations that solve costly problems. An article from techrepublic.com has more:

“The freight and logistics industries are plagued with high administrative costs, lengthy payment delays, and costly invoice reconciliation, said Walmart Canada “

“…the world’s biggest industrial IoT/blockchain roll-out” has reduced shipping discrepancies by 97%.

“The retailer is using the DL Freight supply chain invoice and payment platform.”

Having a unified platform that captures data points from fragmented systems in order to automate payments or other manual tasks is an approach that Mercator Advisory Group is continuously observing to be a popular solution, as opposed to fully restructuring systems and business practices from the ground up.

Overview by David Nelyubin, Research Analyst at Mercator Advisory Group

Summary

Article Name

B2B Blockchain Realizations

Description

While the scale remains small, blockchain technology is beginning to take hold, with trade services as a sector realizing “additional value, both in potential costs savings and opening up greater trade financing opportunities.

Author

David Nelyubin

Publisher Name

PaymentsJournal

Publisher Logo