Blockchain company Hijro, the financial operating network for global trade, has announced a partnership with SAP Ariba to be an inventory provider of trade assets to the Hijro Asset Distribution Network built on Blockchain technology.
This announcement also marks the opening of the Hijro Trade Finance Beta application for suppliers in the United States. During the recent Ariba Live 2017 event in Las Vegas, SAP Ariba discussed plans to utilize Blockchain technology across its business network and software solutions to improve processes, connect disparate systems, and add valuable applications to its customers.
“A partnership with SAP Ariba means connectivity into one of the most powerful business networks in the world.” Lamar Wilson, CEO of Hijro. “By connecting this network to the Asset Distribution Network, the first suppliers will have access to working capital through the Hijro Beta.”
Hijro has differentiated itself in the blockchain industry by its ability to drive security, automation, and efficiency in origination, distribution, tracking, settlement, and reconciliation of trade assets including receivables and approved payables. This ability, through developer platform and API layer, allows business networks such as SAP Ariba to connect to the Hijro Asset Distribution Network.
“Hijro’s API will be utilized to tokenize and register digital versions of trade assets originated within the Ariba procurement platform,” said Lamar Wilson, CEO of Hijro. “Our platform will allow purchase and distribution of these assets by a network of funders.”
Hijro is also accepting applications for its Trade Finance Beta on their website hijro.com. Suppliers can input their information and become qualified to sell trade assets to a network of funders on the Asset Distribution Network.
Applications and solutions built on the Hijro Network include a multi-bank, multi-lender Asset Distribution Network, flexible working capital solutions for businesses, and a robust suite of APIs allowing integrations to existing trade platforms and business networks.
Hijro is an end-to-end open-account trade finance platform powered by distributed ledger technology. The Hijro platform is built to streamline and automate settlement, reduce fraud risk, and break down costly data silos in the $4 trillion open-account trade market. Visit Hijro.com for more information.