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January 12, 2021
On the wires
Relay Payments Raises $43 Million in New Funding to Transform Transportation Payments
“Relay Payments, a fintech company operating in the logistics space, today announced it has raised $43M in funding over the last six months as it continues to transform the payment process within the supply chain industry.”
March 5, 2020
On the web
Chinese Supply Chain Payments Fell Sharply Amid Coronavirus Outbreak
Mobile Payments Today
“Tradeshift Inc., a San Francisco-based payments firm, announced that cross border and domestic supply chain payments in China fell by more than half in mid-February following the coronavirus outbreak. The data shows that trade activity in the region fell by 56% during the week of February 16th, following steady declines related to coronavirus. The report also found that domestic supply chains were seriously impacted, as orders between firms in the country fell 60%. International orders fell 50% during the same period.”
January 31, 2020
June 15, 2018
On the wires
Wirecard Launches Supply Chain Payment Platform Based On Blockchain Technology
Wirecard
“Wirecard is expanding its existing digital payment and banking platform with the supply chain payment solution based on blockchain technology. The prototype focusses on linking merchants with producers, capturing all business processes in so-called “smart contracts” – digital contracts based on blockchain – while minimizing the risk of fraud. In this way, all steps along the commercial chain, from drawing up contracts, to quality assurance and guarantee of origin, are mapped transparently in a decentralized database. Digitalization is therefore now shaping global supply chains where today many processes are still conducted via analogue data carriers such as fax and written documents.”
June 12, 2018
On the web
UN Trade Body Examines Blockchain’s Potential In Supply Chains
CoinDesk
“[T]he United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT) has just published a white paper – now available for public review – that studies the nascent technology to see if it offers benefits that could impact its work or that of businesses and organizations. With developing standards for trade facilitation and supply chain automation already a core part of its remit, UN/CEFACT focuses on the “smart contract, electronic notary and decentralised process coordination” features of blockchain, rather than its role in powering cryptocurrencies.”
Home Depot Sets $1.2 Billion Supply-Chain Overhaul
The Wall Street Journal
“The home improvement retailer will add 170 distribution facilities across the U.S. so that it can reach 90% of the U.S. population in one day or less, said Mark Holifield, the company’s executive vice president of supply chain and product development. The new sites will include dozens of direct fulfillment centers for next-day or same-day delivery of commonly ordered products, as well as 100 local hubs where bulky items like patio furniture and appliances will be consolidated for direct shipment to customers.”
June 6, 2018
On the web
Why Blockchain Could Revolutionise Trade Finance Documentation
BankingTech
“These processes suffer greatly from built-in inefficiencies and it is not surprising at all that escrow payments, trade finance and processing and document store have all been identified as potentially benefitting from the application of blockchain. Fuelled by smart contracts to mediate payments, goods delivery and shipment updates, an new solution is being crafted by the industry, which is much more suitable for modern day trade financing. Corporates, banks and financial technology companies are now endeavoring to develop proof of concepts (POCs). These efforts are concentrated on using smart contracts to digitalise trade documents and registering these new documents into the blockchain or distributed ledger.”
May 30, 2018
On the web
Goldman Sachs Leads $250M Tradeshift Funding Round
Finextra
“Tradeshift enables supply chain payments and marketplaces for more than 1.5 million businesses globally, including global giants such as HSBC, Societe Generale, Air France-KLM, DHL and Fujitsu. Launched in 2010, the Danish firm’s ecosystem now enables alternatives for trade financing, spend and receivables management, lending and payments, and private marketplaces, helping to unlock what it claims is $9 trillion of capital trapped in online payments.”
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