The production system, based on the Hyperledger Fabric, provides a common platform which is not controlled by any other financial institution. This enables participants to share information securely in order to reduce fraud around receivables financing.
This application of blockchain technology, which avoids tokens or cryptocurrencies for both regulatory and cost forecasting reasons, has the potential to reduce fraud related to invoice financing across India and other regions where it finds adoption. It also provides the opportunity for participants to add functionality.
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