Tuesday Team Talks №30
This edition of the Tuesday Team Talks features the latest addition to the Knowledge Base section on our blog:
What are smart credits (CR)?
Smart credits (CR) are unique ledgers that represent 1:1 of the local currency transacted between businesses. All CR are eventually settled in local currency between businesses. These smart credits are generated and verified on the blockchain to secure all B2B transactions.
How does a business apply for CR?
In mere minutes, a business can create a trust profile. After a swift verification process, the global credit reputation of………… Read more.
In the month of May, we on-boarded businesses from various industries, including software and technology, manufacturing, supply chain, and F&B among others. Based on our focus group study and key insights from business owners, on-time payment for goods/services is and continues to be a huge challenge for most SMEs globally. Due to cash flow issues, many businesses delay or defer payments on their invoices, negatively affecting overall business growth and sustainability in the global economy. Businesses that are owed payments can, in turn, face cash flow issues as a result. At times, businesses are forced to write-off on unpaid invoices, which can take a toll on business profitability.
These issues and many other similar issues are resolved quickly and easily with smart credits.
In simpler times, trust between businesses was primarily built on timely payments and relationships. Today, with greater interoperability and globalization among businesses, inevitably payments can be delayed due to many reasons, causing irrevocable damage to the underlying trust among businesses. FintruX Network is well-positioned to build trust among businesses globally. TruX, the world’s first Smart Business Financing Platform, empowers businesses to connect, trade, transact and invest with TRUST (Transparency, Reputation, Understanding, Security and Time).
The FintruX Team
FintruX Network innovates smart solutions for underserved startups and SMEs. We aim to be the one-stop resource and solution provider for business growth and sustainability.