BasicBlock careers

It turns out trucking is heavily dependent on invoice factoring (payday loans). Companies we work with have mountains of paperwork they must organize, sign, and submit in order to get paid. However, often payment happens 30-90 days after the paperwork submission. In order to get cash sooner, they turn to factoring companies, so they sell off their account receivables at a significant discount and the buyer of the invoice (essentially paper documents) collects the payment instead.

Our solution is threefold. 1.)Speed up time to payment by digitizing the workflow. Aka give them an application that helps them get the documents back to their “homebase” quicker. 2.)Make the accounts receivables more valuable by having provenance of the data (a timestamp, location, and authentication via a signature) and 3.)Create a marketplace for the account receivable (tokenized), backed by the digitized documentation.