
Speaker "Payson Johnston" Details Back

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Name
Payson Johnston
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Company
Crowdz
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Designation
CEO
Topic
How Blockchain Transforms B2B Transactions.
Abstract
The Global-Commerce Challenge To be effective, the $25 trillion global-commerce market requires vibrant & prosperous small & midsize enterprises (SMEs), which account for 75% of participants in global supply chains—from raw materials to retail. But because most global business still takes place manually, transactions can require weeks or months to complete. And standard invoicing, which all SMEs use, can delay payments by up to 120 days or more. Without steady, ongoing cash-flow, these SMEs can’t survive these long delays, and up to half ultimately cease operating. And if these SMEs don’t survive, global commerce can’t prosper. The Supply-Chain Financing Market The most common answer to these challenges is supply-chain financing (SCF). With SCF, banks or other entities purchase SMEs’ invoices, giving the SMEs the value of the invoices immediately, less a discount. Later, the SMEs reimburse the financing entity when their customers pay. The potential global market for SCF is immense, estimated at $9 trillion. But competing SCF solutions either: (1) exclude SMEs; (2) impose punishingly high rates; (3) have too-high overhead costs; or (4) lack adequate invoice inventory