The app allows companies to monitor supply chains for fraud by using blockchain technology to trace products from their original components through the finished unit. Through the use of distributed ledgers, it creates articles to insert into smart contracts. Product development can be tracked with digital signatures and QR codes
StreamPay includes a risk index that produces dashboard alerts should any supply chain problems arise. It also manages quality assurance so finished goods meet set requirements. The smart contracts can be designed to issue payment if all conditions are met in US dollars, Euros or cryptocurrency.
“We are excited about the launching of the StreamPay app by the end of the year,” CEO Shaun Passley said. “We believe this app will begin the process of building a company.”