By using state of the art sensor technology it is possible to obtain precise information about the quality and quantity of stored goods in real time. The exact data sets obtained in this way form the basis of a wide variety of automation solutions and data science approaches. The use of different hardware opens up flexible application possibilities in various branches of industry such as chemistry, oil and agriculture.
Autonomous Supply Chain Finance
For incoming deliveries the customer today faces long payment terms. This applies in particular to the chemical industry, in which we have been heavily involved for a long time. It is in the strong interest of the companies to minimize payment terms due to the high equity capital costs. Possibilities for companies to request pre financing or factoring solutions were not given or only under very high risk premiums, since the financing institutions could not rely on immutable and validated information since most data bases were under the risk of external influence. By writing down the data obtained from our measurements in a blockchain that cannot be controlled by a single entity we can eliminate these risks and enable further financing solutions. The automation of transactions through the use of smart contracts goes hand in hand with this, enabling us to accelerate the formerly long and expensive cash conversion cycle to fractions of a second.
Autonomous financing processes require a whole new level of payment infrastructure such as tokenized electronic money. EM-Token embrace blockchain and decentralization to the real financial world with key functionalities (compliance, aml, legal liabilities) and extends functionalities such as holds, clearance, detailed compliance, funding and payout. This technology makes it possible to program real money. The euro has no other legal status than cash, but behaves like a token. In our usecase, the negotiation of new payment terms, as otherwise necessary for factoring, becomes obsolete. The customer transfers his money as usual to the supplier, but through Smart Contracts any financial service providers can be integrated into the cash flow. This avoids high organisational costs and ensures that adaptation problems for the technology are a thing of the past, as ERP compatibility can be created by keeping the euro as a means of payment. The immutablity of the data also makes later audits and bookkeeping much easier.