Why Blockchain Technology is the Future of Supply Chain Finance
Why Blockchain Technology is the Future of Supply Chain Finance with Soul Htite of Dianrong and Jack Lee of Fnconn of Foxconn Group. Moderated by Jason Jones of LendIt. Recorded at LendIt USA 2017. Efficiency is a key aspect when it comes to the supply chain, implementing blockchain technology can help to improve this efficiency across the supply chain; Dianrong and Foxconn teamed up to announce Chained Finance at LendIt USA 2017; the new venture has been in the works for 18 months and they have been doing a pilot for the last six months focused on tiers two, three and four of the supply chain; they have found using the blockchain can improve the flow of money and goods; the biggest challenge they have thus far come across is presenting new technology to the smaller firms in the supply chain; using blockchain technology can really transform the amount of businesses that are connected in the supply chain; it can help to validate the many tiers in a seamless way.