Clarifying the path to tokenization
Decentralized Finance (or DeFi) is known as one of the most promising movements at this moment. It concerns the ecosystem of financial applications that is being built with blockchain technology. This ecosystem promises a global and open alternative to every current financial service can be developed.
Invoicing is no exception. Invoices encompassed an estimated 550 billion annual volumeof paper and electronic bills in 2019. Electronic invoices are expected to experience a growth of 400% in the coming years. Currently, most invoices are still paper documents, but e-invoicing is becoming more common. It is estimated that by 2030 e-invoicing will replace paper invoices as the predominant form of invoicing (see Figure 1).
Invoice market is a place where invoices can be traded as financial instruments. Invoices are financed by factoring companies, fintech companies, and banks. For now ,we will call those: Originators. At Invoice Market, Originators can sell invoices to Institutional investors. The Institutional Investors can make a return on the invoices and the Originators free capital by distributing the risk off their balance sheet.
This process goes as follows:
The platform then distributes the remainder of the invoice to the investors.
This use-case aims to make invoice markets more efficient by creating a non-fungible token (NFT) that will represent the invoice, the underlying receivable cash flow, and have all the functions of an invoice programmed in it. This achieve this, it will be built on a DLT specific ledger with an agnostic smart contract
In the Invoice Market use-case, the invoice plays a significant role. And there are several issues with invoices and the way they function in an invoice market:
Read our blog post for more detailed information on this use-case.
On the 12th of April, we hosted the first webinar in our ‘Introduction to our use-cases’ series together with ABN AMRO and Digital Asset. We explained all the ins and outs of what an invoice market is, what token we will develop, and how the DAML programming language can be used to create such a token.
You can now watch the webinar on-demand by clicking on the button below!
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