Deutsche Telekom subsidiary T-Systems and Commerzbank are jointly developing a solution to automate supply chains with the associated finance. The two companies have already been exploring a project for more than six months. The new solution uses a combination of technologies such as AI, IoT, 5G and blockchain. Logistics firm Nagel Group is the pilot customer.
A key objective of the project is to automate billing and payments in the supply chain to provide the foundation for a supply chain finance network for manufacturers, their suppliers and logistics firms.
Goods transported from the warehouse using logistics firms are tracked using IoT, and blockchain smart contracts trigger various events such as delivery notes and automated payments.
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