Providing a framework for supply chain financing based on blockchain and AIoT
Keywords:
Supply chain financing, financing, blockchain, artificial intelligence of thingsAbstract
In today's increasingly interconnected world, supply chain management is a critical aspect of modern business operations. With the advent of blockchain technology and AIoT technology, transparency and efficiency across the supply chain are expected to improve significantly. Supply chain finance or SCF is a term that describes a set of technology-based solutions that aim to reduce financing costs and improve business efficiency for buyers and sellers involved in a transaction. SCF methods include transaction automation and end-to-end tracking of invoice approval and settlement processes. According to this model, the buyers agree to approve their suppliers' invoices in SCF so that financing can be done by the bank or other foreign investors. These banks pay the supplier's invoice immediately after receiving the approval of the invoices from the buyers after deducting their fees. Offering this short-term SCF credit that optimizes working capital and provides liquidity to both parties offers distinct benefits to all participants. This chapter presents a blockchain and AIoT-based supply chain financing framework.
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