Аbout the client:
Procter & Gamble is an American multinational consumer goods corporation that specializes in a wide range of personal health/consumer health, and personal care and hygiene products. Today, they are the world’s largest consumer goods company and home to many recognizable brands.
What was the problem:
Claim management is a process occurring across a wide array of industries. While each industry poses its set of challenges and specifics, there are some problems that have been identified as common amongst most enterprises for which claim management is an essential business process. Some of those issues include time and cost inefficiencies caused by manual work; Claim disputes and lack of common trustworthy contracts platform; Incurring costs due to the need of third party to judge claim disputes and more.
Blockchain technology makes it possible for both retailers and e-commerce operators to execute post-sale supply chain and distribution processes automatically with smart contract technology. By accepting digital currencies, merchants can also interact with consumers on a peer-to-peer basis. A growing number of Retail businesses are looking at blockchain technology for what it is and what it will be. Despite the limited presence of blockchain in retail, experts believe in the variety of use cases that are likely to succeed.
What was the solution:
LimeChain’s Claim Management Solution boasts the following technological features – Access-restricted blockchain technology (Hyperledger or Corda) acting as a common platform for the commercial counterparties; The system can easily add new counterparties; A client application (web-based) allowing parties to upload contracts on the blockchain; Client application cryptographically signs a contract, saving the contract on the blockchain. The solution can be extended/stripped-down to make for a tailor-made enterprise fit.
Location: HQ, USA