St. Julian's, Malta and Bucharest & Sibiu, RO — 6h June, 2019 — Elrond, the technology company developing a scalable and more efficient blockchain platform, is proud to announce a cooperation agreement with SmartBill — a leading software-as-a-service provider for invoicing, inventory management and accounting.
SmartBill is an established FinTech company providing SaaS-based services to small, and medium-sized businesses for invoicing, accounting and inventory management. Its invoicing and accounting SaaS platform is counting more than 60 000 clients, 2 Million invoices issued each month with a total value exceeding $350 Million each month.
Elrond and SmartBill, aim to jointly explore the potential integration of the two platforms to provide to their users and clients blockchain based features, like trust, transparency or traceability.
Furthermore, Elrond and Smartbill are also expressing their interest in exploring other, but not limited to, potential use cases, related to blockchain technologies like inventory and supply chain tracking capabilities, and alternative payment solutions.
“We are very enthusiastic and driven by the desire to offer the most intuitive invoicing and accounting products to our clients.” says Radu Hasan, CEO of Smartbill. “We truly believe we can take things to a whole new level and offer new features and options that were not possible until blockchain technology was born. We believe through this partnership with Elrond we can achieve that.”
“Elrond brings a radical improvement to the blockchain space, adding the much needed performance for real world usage. We believe small and mid-sized businesses will soon be able to integrate Elrond’s technology and reap the benefits of increased transparency, minimized costs and built-in trust between different parties and companies. We are happy to have Smartbill as partners.” says Beniamin Mincu, CEO of Elrond.
Elrond is a new blockchain architecture, designed from scratch to bring a 1000-fold cumulative improvement in throughput, execution speed and transaction cost. To achieve this Elrond introduces a novel Adaptive State Sharding mechanism, enabling linear scalability, and Proof of Stake (PoS), a novel and more efficient consensus mechanism proposed as an alternative to the intensive energy and computational use in Proof of Work consensus mechanisms.
Founded in 2007, SmartBill is an established FinTech company that offers billing solutions and SaaS-based services. It also provides small and medium-sized businesses with invoicing and inventory management software. It offers Smart Bill Cloud, an online billing program which can be accessed from anywhere, from any internet-connected device.