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Blockchain-driven KYC or digital identity verification process accelerates user onboarding and provides a centralized repository of verified user documents that can be easily accessed by the requester.
Blockchain enables quick distribution of authentication rights along the procure-to-pay chain, thereby enabling fraud prevention and augmenting security across the PTP process.
The exchange of invoices using the blockchain technology enables shared access to the database and eliminates the need for invoice scanning. The authorized parties can review transactions without reconciliation.
Complete transparency and real-time access to the shared database eliminates the need for reconciliations. This can potentially transform the business practices, like the standard D+30 days settlement time.
The shared public IDs, fair ratings assigned to market players based on the quality of products, reliability in delivering, and timely payment of invoices, and transaction history bring trust and transparency to the PTP process.
With real-time access to permanently retaining, tamper-free historical information about payments, it becomes easier to identify suspicious transactions and alleviate the risk of money laundering.
Our blockchain-based supply chain solution is packed with market-leading features to deliver high performance.
We leverage secure HTTP Authentication tokens, such as OAuth for user authentication.
The encryption of data transmitted over the network safeguards user credentials and other confidential information.
It helps prevent multiple failed login attempts for a specific time.
It protects our blockchain procurement solution from large requests to the server.
It safeguards our solution against state-changing requests and other unwanted user actions.
Protects internal systems from attacks sent from pregnable web applications.
Protects against web attacks that send an HTTP request to access hidden information.
A smart-contract-driven escrow system enables secure transactions between parties.
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