Wirecard Launches Blockchain-based Supply Chain Payment Platform

Wirecard has announced that it is expanding its B2B portfolio with services based on blockchain. The company is expanding its existing digital payment and banking platform with the supply chain payment solution based on blockchain technology. The prototype focuses on linking merchants with producers, capturing all business processes in ‘smart contracts’ – digital contracts based on blockchain – while minimising the risk of fraud. In this way, all steps along the commercial chain, from drawing up contracts, to quality assurance and guarantee of origin, are mapped transparently in a decentralised database.