Accenture, Thailand’s Siam Commercial Bank Deploy Blockchain Solution
Cryptovest
Published Oct 18, 2018 11:25AM ET
Updated Oct 18, 2018 12:41PM ET
Accenture, Thailand’s Siam Commercial Bank Deploy Blockchain Solution
Dublin-based global professional services firm Accenture is working with Siam Commercial Bank’s fintech subsidiary Digital Ventures to co-develop a blockchain-based service to streamline billing and payment processes. The solution, which was launched recently, helps companies buy and sell goods, operate payments, and obtain financing. It is built on R3’s open-source blockchain platform Corda and is claimed to be the first fully integrated procedure-to-pay platform on Corda.
Accenture has been showing interest in distributed ledger technology (DLT) for the past few years and has been accumulating experience in developing blockchain solutions. The company has worked on the platform in collaboration with Thai business conglomerate SCG, which operates businesses related to cement-building materials, chemicals, packaging, and investments. Digital Ventures’ blockchain-based procure-to-pay platform is already live, and proc...
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