Ron G Jun/ 24/ 2020 | 0
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I wanted to touch base on the last video I made. Add a little bit to it. There was a latest tweet on Twitter from Cointelegraph and what it mentions which I didn’t expand on but I think this is big because this is really important when it comes to business.
When you’re running a business. Cash flow is king that’s the main thing that a lot of people look for is because a lot of times when you’re running business it’s always like net 30. You provide some service you sell a product and most people don’t have the funds to pay for it because they have a lot of cash flow. They have a lot of expenses got to pay payroll they’ve got to pay rent. They’ve got to pay the supplier. There’s so much involved in terms of when you deal or when you’re doing business and over the years, I’ve known it’s like unless you’re just your profit margins are super high then you don’t have cash flow issues but in a competitive world.
You always have cash flow issues so it’s always like net 30 but with coin telegraphs tweet here and when I reread it again, it says milestone which is a hue milestone. Milestone payments can be made as shipments move along the supply chain verified on the Vechain blockchain on MasterCard so, when I had my first company. This was something that my suppliers in China what kept bothering us payment and then when he’d get to the rail in Vancouver then our clearing company would be like non-stop hounding us for payment because they’re dealing with. Many freight containers that are getting imported from China to Canada so imagine you just one customer or two customers or three customer delays. I’m not paying for their custom clearance fees is huge and then they have to pay container then when it ports off of the dock from Vancouver to Toronto on the rail they got to pay.
Storage costs where it’s sets before it gets telex release and that shipments gets trucked over to our dock. Anyways this is huge milestone payments can be made as shipments move along the supply chain verified on Vechain Blockchain or MasterCard provenance and that’s huge because in the article what it mentions is this. So, now you don’t have to do it at 30 and wait for payments and then usually it’s never net 30. Even when we send invoices to our customers sometimes it’s we don’t get paid for 4-6 months. I’ve had payments where we’ve waited over like 14 months for a payment which is insane.
This is gonna be huge because a lot of businesses are gonna look at this especially in supply chain. With the economic lock down badly affecting companies cash flows and I’m gonna skip to here.
30% can be automatically paid when the blockchain records a shipment.
So, this is all automation. This is huge because you don’t have to invoice administrator here. Have this secretary, have someone in finance and say well did you clear?, did they pay? yes, they paid. Okay great! Now, that they paid, let’s clear it. So, how many people do you have to involve, to wait for payment and get it cleared. The way I see this working is in the future with AliPay, MasterCard and Vechain they are elegant. They’re gonna use Vechains ecosystem combined with MasterCard payment and AliPay. Customers are trying to get are able to submit payment and take payment.
30% can be automatically paid when the blockchain records a shipment clearing customs in Australia which is awesome. Then another 30% when it hits customs in China. Long those step the longer do you have to wait for.
When I used to send a lot customs forms, payments and wires to my suppliers then they would release but now that it could be automated this is huge and more customers they’re going to be looking into this. Well, I want to be part of the blockchain. Because when you deal with an ERP system or supply chain management systems. Typically you build and ERP, WMS system and that WMS system resides in two places. It is residing your office and your warehouse. You have a warehouse management system that costs 3,4 or five whether its SAP or some kind of other ways WMS. or other that you miss from. That warehouse management system that cost like 2,3,4 or 5 million dollars depending on the sets resides in your warehouse and then you might have 2,3 other warehouses then they’ll have like those. But you’ll never see like a WMS here.
When it comes to blockchain, public blockchains that’s the advantage of using public blockchains. You can pay nasa card with this whole article that coin telegraph mention it’s a huge milestone like massive milestone and from a business perspective and personally like media link with wire transfer. Trucks freight telex releases this is massive and more companies gonna look at this. This is huge especially knowing that the players that we’re all hoping for are on which is Vechain.
I want to get into another part of this video. After this news came out. Someone on reddit basically saying that the test net activity is skyrocketing. Fireworks is happening. If you look at the Vechain test net activity for today. Look at all the fireworks that happen. This is crazy, as we scroll this could be ease of lockdowns. It’s happening in certain countries maybe more activities happening and stuff is gonna go live because I’m pretty sure a lot of other companies are anxious to get the project finished. I know Vechain in their team they want to push their project to get finished but maybe companies like Italy, Spain and Europe. They’re kind of easing lockdown like I mentioned Spain yesterday was the first day that people can actually go out and start jogging restaurants are starting to open. So, that’s great news. Maybe we’re gonna start to see things moon hopefully.
If you look at some of the Vechain test net activity, you can see small transactions 440,000. In February, I think when Walmart did their stuff at the year end December.
After that tweet that coin telegraph tweeted out there. Sarah Nabas is the business development director or VP for Vechain in Australia and South East Asia. She says on behalf of Vechain team we were proud to be a member of the APEC council. We look forward to working with @d_inderias and @FreshsupplyCoAu team in helping more Australian producers build verifiable and transparent supply chains with #VeChainToolChain. This is a huge news. We hope that we moon sooner than later but like I said, patience is key.
In here you look at investments so people are saying well these companies are fake that’s garbage, that’s bad news whatever. Here’s the investment it shows that Vechain, blockchain service provider specialized that anti-counterfeiting IOT and supply chain management for businesses investment date May 4th.