Tradeshift turns to Blockchain to Address Late Payment Problems

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Whilst the cryptocurrency industry continues to spin around in a daze of highs and lows, startups continue to make the most of the fundamental strengths of the blockchain technology.

A new player to this race is Tradeshift, a cloud-based business network connecting buyers and suppliers. Tradeshift is currently launching its new service, which allows blockchain-based finance in order to create transparency and secure records.

Although Tradeshift doesn’t use cryptocurrencies like Bitcoin or Ethereum, “having the transactions on a public ledger ensures full transparency and the ability for companies to prove they have legit transactions,” CEO and co-founder Christian Lanng said.

Basically, what this means is that Tradeshift’s cloud platform brings together supply-chain payments, supply-chain finance and blockchain-based early payments in one integrated end-to-end solution, aptly called “Tradeshift Pay”.

With this unified wallet, buyers could use several payment options, including digital card payments of purchases and invoices, dynamic discounting, and supply-chain finance via blockchain-based payments or bank partners.

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