SafeFBDC - Safe Financial Big Data Cluster

If goods in a supply chain are to change hands securely, it is imperative that money also changes hands securely. So financial services providers can keep pace with the developments in industry, companies need solutions that can be seamlessly integrated into new business ecosystems. Fraunhofer IML worked with Fraunhofer ISST on the “Safe Financial Big Data Cluster” (or safeFBDC) project to develop solutions for using data and technology in Industry 4.0 to improve the financial resilience and efficiency of supply chains.

Smart Invoicing

Using an exemplary use case, the researchers initially designed a blockchain-based application for autonomous smart invoicing. The “Smart Invoicing” not only enables highly efficient and secure invoicing processes but also creates an important foundation for programmable payments with digital money and other embedded finance applications. The invoice data collected can be used for a variety of predictive financial analyses such as cash forecasting or evaluating financing alternatives.

Digital assets

The monetary claims documented by the invoices resulting from receivables and services can be converted into digital assets in a further step. The claims are digitally transferable and open up new possibilities for financing in
traditional structures. However, they can also be used in future structures such as digital and decentralized economies created by Web3 and Metaverse.