x-DeFraud acts as an x-ray to prevent fraud in Trade Finance. Trade Finance Transactions often involve manual paper (and unstructured electronic) transfers of records (purchase orders, invoices, bills of lading, customs documentation, certificates of authenticity and makeup) that accompany physical goods. Keeping track of the ownership of physical goods and inventory at each step, along with the corresponding paper flows, can be a major undertaking, especially with manual processes that are subject to human error, loss, damage and even theft and fraud.
x-DeFraud prevents fraud by storing all the supporting documents in a trading cycle on a distributed ledger system (Blockchain). With pre-defined algorithms, all the documents flowing in the distributed ledger are x-rayed by x-DeFraud system to prevent fraud.
To know more about x-DeFraud, give us a shout.