October 14th – Increase in use of Blockchain platform to Process Invoices

It is clear that the uses of Blockchain have far surpassed its days of cryptocurrency and is being applied to different Industries worldwide. In the article linked below, Tim Copeland describes the success of Ernst and Young’s platform being used to settle the billing and invoices for Microsoft.

Paul Brody, Blockchain expert explained; ‘Microsoft settlements use to take up to 30 days, and now only take 5 minuets’, exemplifying one of its many benefits.

While Travel Ledger has a slightly different approach to EY. We are proposing to apply our technology to the travel industry as a whole; where EY are only managing transactions for Microsoft’s external suppliers. To address Tim’s point of having to use a trusted 3rd party, Travel Ledger has tackled this problem by implementing a privacy protocol to ensure that the Portal Operator can not see the data being exchanged over the platform.

Despite this, EY still provide a good success story and highlight the innumerable benefits of the automation of settlements.

Click on link below to read the full story.

https://decrypt.co/10241/inside-eys-radical-plan-to-get-major-businesses-using-ethereum