Blockchain can make invoice financing secure and safer for MSMEs

Blockchain Technology

Blockchain can make invoice financing secure and safer for MSMEs. Blockchain is a tamper-proof record of trades that cannot be altered.

This makes it easier for companies to raise finance because they can be confident that their invoices will not be changed so they don’t have to worry about invoices going unpaid. Tamper-proof records on the blockchain also make it easy for companies to trace what happened with their invoices after the transaction was made. This means no more wondering where an invoice went wrong, only knowing where it was supposed to go.

The global market in invoice financing is estimated at $8 trillion annually, which is expected to grow exponentially in the upcoming years as businesses continue expanding and there’s a need for more funds for innovation, growth and expansion of products or services. However, this massive market has been a controversial topic due in part to the risks involved because many of these organizations are very small or regional corporations with limited financial resources and mostly

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