Electronic management of supply chain factoring with shared state storage in a distributed ledger
Abstract:
Supply chain factoring utilizing shared state information stored in a distributed ledger includes the selection of an electronic supply chain document associated with an order for goods by a purchaser of the goods and the minting of a cryptographic token on behalf of a seller of the goods. the token encapsulating a purchase price for the order and associated order terms. A location is reserved in the ledger into which the token is uploaded. Subsequently, factoring terms are published at the reserved location by a factoring agency supporting the factorization of the purchase price. The seller then validates an ascension to the factoring terms in the reserved location. Finally, the reserved location is annotated to indicate satisfaction of the factoring terms upon the purchase price being paid to the factoring agency and a fraction of the purchase price being paid by the factoring agency to the seller of goods.
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