This DAML-driven solution allows a trade agreement between buyer and seller on blockchain to become the basis for payment and settlement of invoices for all concerned parties (i.e. buyer, seller, supplier, transporter). The payment gets initiated once product has been delivered in a single DvP (Delivery versus Payment) transaction. Every step in the workflow is orchestrated using DAML, providing a single source of truth for all parties and eliminating the need for offline reconciliation of data between parties.
- Allows creation of digital agreement between buyer and seller on blockchain
- Use of DAML smart contract framework for accelerated development and ledger agnostic deployment
- Automated invoice generation and real-time triggering of payment upon delivery confirmation
- DAML-based multi-party workflow management preserves transaction privacy