BSOS - blockchain's impact on the supply chain
Alex Stoicescu
Oct 17, 2023
5 min.
BSOS, a B2B supply chain fintech company, is on a mission to revolutionize the world of supply chain finance using blockchain as its cornerstone. Let’s dive into the story, vision, and impact of BSOS, as shared by its marketing director, Andrew Yen.
How did it all begin?
BSOS, short for “Blockchain, for Supply chain finance, Operating System,” was born with a clear mission: to solve the asset liquidity problem in the supply chain. This problem, often called the SME financing problem, has been a persistent challenge for businesses worldwide. Since day one, BSOS has been committed to leveraging blockchain technology to address this issue.
The strength of any innovative venture lies in its team, and BSOS boasts a team of technology elites with backgrounds from renowned companies such as Google, ASUS, and HTC. As a core member of the EEA (Enterprise Ethereum Alliance), BSOS leverages its technological expertise to bridge the gap between Real-World Assets (RWA) and the web3 landscape by integrating DeFi protocols.
BSOS has played a significant role in helping major institutions establish blockchain infrastructures, earning recognition as one of “The best 35 global blockchain companies” by CB Insights and as a “Top Blockchain Development Company” by GoodFirms. In 2023, BSOS was selected as one of the 5 APAC partners with SAP to deliver sustainable financial solutions for supply chain corporations jointly.
What are the core challenges BSOS solves?
BSOS addresses a pressing issue in the business world today – the liquidity problem. Worldwide, vendors have approximately $43 trillion locked in accounts receivable. The traditional financing model, while theoretically efficient, often falls short in practice. Businesses can take 2-6 weeks or more to secure financing, leading to cash flow challenges.
What is the real-world impact of BSOS?
BSOS introduces SUPLEX, a game-changing solution that empowers businesses in two major ways:
Strengthening supply chain management: SUPLEX empowers buyers and suppliers to manage working capital efficiently, enhancing financial health and sustainability.
Facilitating cross-border transactions: For businesses involved in international trade, SUPLEX simplifies cross-border payments, reducing settlement times and fees and ultimately streamlining global trade.
How does BSOS leverage Request Network?
BSOS partners with Request Network to integrate web3 payment and invoicing solutions seamlessly. This collaboration unlocks a new era of efficiency and transparency in payments and supply chain finance. Together, we are rewriting the rules of financial transactions!
What’s in the future for BSOS?
BSOS has an exciting roadmap ahead with two primary objectives:
Deeper integration with Request Network – SUPLEX aims to support an even wider range of cryptocurrencies and blockchain networks, enabling traditional enterprises to tap into the web3 cross-border payment network.
Embracing DeFi – as the DeFi space evolves, BSOS plans to integrate more DeFi protocols into SUPLEX. By leveraging Request Network as the payment method, businesses can explore decentralized lending and staking while benefiting from blockchain security and transparency.
What security measures does the BSOS platform employ?
BSOS strongly emphasizes security, implementing vulnerability scans through a CICD process and environment isolation to safeguard sensitive data and enhance project security.
Community incentives and adoption plans?
While BSOS primarily serves the B2B sector, it commits to offering practical solutions to real-world problems. Although community incentives may not be a focal point, their contributions to the blockchain ecosystem pave the way for broader adoption and innovation.
At a crossroads between TradFi and Web3
One standout feature of BSOS is its focus on Real-World Assets (RWA). Unlike many partners in the blockchain space, BSOS deals with physical invoices and real-world assets, making it uniquely positioned to bridge the gap between traditional finance (TradFi) and the web3 world. By integrating SUPLEX with Request Network, BSOS offers corporations the best of both worlds – traditional and digital payment methods.
In conclusion, BSOS is not just a fintech startup; it’s a pioneer in supply chain finance, leveraging blockchain to solve real-world problems. With an elite team, a commitment to security, and a roadmap that fully embraces DeFi, BSOS is set to reshape the future of supply chain finance. It’s not just about transactions; it’s about transformation!
