“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.”