04 Jul “Decentralized Finance” – when money flows (almost) by itself
The step is foreseeable, has been prepared for years by journalists, and makes sense: automated payment prepared according to rules. In other words, digitally automated contracts (smart contracts) lead to the fulfillment of services according to defined rules (e.g., delivery of goods, activation on platforms, etc.) and then also to the flow of payments. Embedded, if necessary, in additional approvals according to individual amount, recurrence of payment or total volume of a period, commercial processes can be handled faster, more efficient in complexity management and documentation in this way. However, as with any IT project, the prerequisite is that the processes to be mapped for technical implementation in blockchain, interfaces and snazzy front ends are equally sensible and fully thought through. And this in terms of fail-safety, fraud, risk and compliance. These are precisely the issues that have been the core business of creditPass since 2003. Talk to us about it: We are here for you.