Nu-Credits in Blockpool acceleration program– Pooling SME adoption and deployment of BDLTs
We are horned to announce that Nu-Credits has been selected to participate in the Blockpool acceleration program (https://blockpool.eu/). Blockpool is funded by Horizon 2020 – the biggest EU Research and Innovation program ever. We will be attending and implementing Blockchain technology and other DLT’s to integrate BlockFacts Financial Data API into key smart contract blockchains.
Blockchain and Distributed Ledger Technologies (BDLTs) have tremendous potential, promising a more transparent, accountable, efficient, and secure way of exchanging information. From financial services to logistics, energy and many other sectors, BDLTs seem to open new avenues with the potential to impact business models, value chain mechanisms, products, services and social change.
However, their uptake is hindered by fragmentation and other obstacles. The Blockpool project aims to change the status quo to enhance innovation capacity in SMEs via increased uptake of BDLTs. The ultimate goal is to serve as a sustainable portal for BDLT technologies for SMEs via a stronger research and training framework, increased research funding, and support. The project will also raise awareness and disseminate knowledge and best practices on BDLTs across Europe.
Blockpool has selected for funding 25 SMEs from 27 different countries to develop and test more than 11 BDLTs. SMEs will receive up to 30.000 EUR funding, provided as vouchers in a lump sum way. The funding is related to the achievement of relevant milestones and administrative justifications will be reduced to a minimum. After the selection, the SMEs will be provided with dedicated pan-European coaching, Massive Open Online Courses, created by the best in the blockchain field, and many training programs all over Europe. The funding of the selected SMEs will cover the participation in two out of three cross-border international bootcamps that will be organized in different locations in Brussels, Valencia, Frankfurt. Further, the selected SMEs will participate in the final Blockpool conference.
Our main goal is to help SMEs exporters who are suffering long payment terms from large importers with no alternative solution from their banks of home market and SMEs importers who do not have sufficient capital to pay advance payment to their suppliers from overseas.
We work with R3 Corda on verifying the authenticity of the cross-border trade invoices and letter of credits as well as speeding up the payment decision to exporters/importers helping them to eliminate account receivables and Improve their working capital positions.