The goal is to develop a proof-of-concept platform able to generate and deliver a blockchain transaction to an Italian company from SYME’s client portfolio via the VeChainThor public blockchain. Following analysis and review of phase 1, the project will move to phase 2 and the development of a full Inventory Monetisation Platform due by December, 2022. During this second phase, the VeChainThor public blockchain will be utilized to mint the phygital NFTs, with Inventory Monetisation transactions funded by multiple liquidity providers including crypto asset managers and retail investors, exploring an enhanced commercial non-credit financing model. The outcome is the creation of a highly unique and novel solution for creditworthy companies to optimize inventory management and improve cash flow.
A Brave New Digital World
« By embarking upon this alliance with the highly respected VeChain, an organisation that is unique in the sustainability and supply chain sector, we are working to ensure the business is future-proof and highly scalable. VeChain has demonstrated its ability to dream up, and subsequently deploy, new ideas and ecosystems that harness the revolutionary power of blockchain. We recognised the same potential in Supply@ME and their novel tradFi-Defi inventory management service. We look forward to working with them to co-develop these new systems and provide businesses with an entirely new method of raising value from Inventory Monetisation».
About VeChain
Launched in 2015 as a private consortium network, the VeChain Foundation went on to launch the VeChainThor public blockchain in 2018, a fully programmable, EVM-compatible layer one smart contract platform. VeChain continues to pioneer real-world blockchain applications across the globe with offices in Luxembourg, China, Singapore, San Marino, Milan, Ireland, Japan, France and the United States, working on wide-ranging applications from supply chain & logistics, sustainability & SDGs, carbon emissions, energy, medicine, De-Fi, NFTs and much, much more.
Source: VECHAIN FOUND | COINMARKETCAP.COM