Web3 Builders: Centrifuge | Financial Supply Chain Platform Built with Substrate
Centrifuge
The Centrifuge mission is to change the rules of global trade to foster economic opportunity everywhere. Global B2B spend (a.k.a. all invoices sent around the globe) amounts to roughly $180 Trillion. With payment terms at an average of 60 days, businesses, and especially SMEs, need financing to bridge the gap. It is one of the main reasons that sustainable growth is so much harder for SMEs than for larger corporates. Existing solutions today, such as factoring and reverse factoring, only address a small portion of that need. This is why we built Centrifuge OS — to allow businesses to exchange business documents (such as invoices) and tokenize those assets to have greater access to financing — thereby unlocking value that has previously been inaccessible.
Centrifuge OS is a decentralized platform to support a new generation of applications for the financial supply chain. The stack consists of a peer-to-peer messaging protocol to store and exchange business documents in a private, secure way. As the next layer, we built Centrifuge Chain using Substrate to hold the unalterable, single source of truth of these documents for all parties. Using Centrifuge Chain and dApps built on top, businesses can tokenize documents and use this as collateral to access financing. Tinlake is our securitization protocol for these tokenized assets built on Centrifuge Chain to optimize risk allocation and connect Centrifuge to the DeFi ecosystem.
