KBC and Cegeka test blockchain solutions for SMEs

The application is a digital platform for managing, tracking and protecting domestic and international trade transactions between SMEs. DTC links parties like buyer, seller, KBC and the counterpartys bank. The app registers the entire trade process from order to payment, displaying it in an at-a-glance flowchart and guaranteeing payment when all contractual agreements have been met. The platform is fully automated and available 24/7, so the order-to-payment process is much quicker than the traditional exchange of documents. It also requires far less back-office administration.

Initially, the solution was assessed in different sectors by 17 SMEs and then tested by Bru Textiles and Aristide, two textile companies in Kontich. Testing and customer surveys provided a lot of useful feedback on further improving the application. If additional tests confirm the success of the initial trials, KBC will launch the application on the market, according to newsroom.kbc.com.