Wednesday 22 April 2020 10:56 am BEQUANT Talk

BEQUANT Insights expand partners...

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Based on research from Don Tapscott’s Blockchain Research Institute, BEQUANT will be providing insights into blockchain and digital asset technology, because our mission is to offer our clients, partners and market participants the best information possible, providing thought provoking insights and that competitive edge. Whether its Bitcoin or a Tokenized asset our mission is to provide insights, leading you to your competitive edge.

Our first case study, provided by the Blockchain Research Institute is Foxconn’s Chained Finance.

Foxconn has been called the company that makes the iPhone. Apple relies on Foxconn to make its products work.

When it comes to getting financing for themselves, there usually isn’t a problem. However their suppliers often face difficulties and it is in the interest of Foxconn to make sure those companies are ready and able.

In its recent article, Forbes correctly indicated that “corporations are embracing the technology underlying cryptocurrencies like bitcoin and using it to speed up business processes, increase transparency and potentially save billions of dollars.” In Foxconn’s case the figure is probably much larger.

Foxconn recently launched Chained Finance — the first ever blockchain platform for supply chain finance.

What Foxconn will essentially be doing is tokenizing the supply chain, with a Token representing a unit of production. This will then provide manufacturers and Foxconn partners with transparency and trust throughout the entire supply chain, enabling to better understand the needs of those seeing funding and essentially to provide the funding being sought.

Foxconn believes the platform has the potential to triple financing access for global supply operators and will expand supply chain financing to tens of millions of SMBs who are currently unable to access financing.

Why do we think its important? Not only because Bequant Solutions offers tokenization as a service. But because the use of blockchain helps companies understand digital assets and the value bitcoin and other digital currencies represent.

Now, the company is actively developing the tools, along with other giants. It is a great example of how technology firms are leveraging blockchain to deliver unique solutions invoking trust and transparency, but also contributing to a greater understanding of what digital assets are.The report can be downloaded here.