DEVELOPING A BLOCKCHAIN PLATFORM
FOR INDUSTRIAL SUPPLY CHAIN
Solarnity’s supply chain platform will utilize distributed ledger verification for increased transparency and trust through a tamperproof and fraud less (fraud resistant) system.
Solarnity seeks to provide a platform of conducting supply chain activities between buyer and seller while simultaneously minimizing (and sometimes eliminating) the need for excess layers of banks, escrow agents, and 3rd party counterparties.
Buyers and Vendors (sellers) inherently do not trust one another; cross-border transacting deepens this distrust. Buyers at the SME level typically have scarce funds available and will immediately benefit if more liquidity is freed up from minimizing (or in some cases, eliminating) bank guarantees and their associated costs. Vendors are hesitant to manufacture and ship costly equipment or spare parts without a high level of assurance that they will be properly compensated.
Onboarding to the Solarnity platform provides a level playing field for the Buyers and Vendors. KYC, or Know Your Client, vetting of all users on the Solarnity platform will be vital to ensuring success in users adopting the new banking model.
THE INSPIRATION FOR SOLARNITY