Blockchain technology has the potential to improve end-to-end traceability of funds disbursed by financial agencies by providing greater transparency and trust traceability. Global bank organizations are required to ensure that the proceeds of loans are used for intended purposes. However, most projects involve many participant organizations such as intermediary agencies, service and product vendors, and non-governmental organizations (NGOs) that handle funds before they reach the intended beneficiaries of the loans.
inQ’s Loan Disbursement Blockchain Solution provides the following features:
- Digitally-secured original records, invoices, etc.
- Real-time access to immutable records
- Traceable and transparent loan disbursement data
Current solutions are not suited for operation on a true global basis and cannot provide traceability for the usage of funds and which participants are paid with the initial loan disbursements. InQ’s distributed ledger solution addresses key challenges facing organizations that disburse funds including: