Epazz Inc. (O.T.C.: EPAZ), a provider of blockchain cryptocurrency mobile apps and cloud-based business software solutions, announced today that the company is releasing an alpha version of its app to attract beta customers to its StreamPay service app. StreamPay is a solution for managers to monitor their supply chain for risk fraud using blockchain smart contract technology to trace raw materials to finished goods.
Companies’ supply chains are now global, and they depend on the global supply chain to deliver goods and services to their end customers. Many companies spend millions of U.S. dollars a year to maximize their supply chain to deliver increased profits to shareholders. Companies are looking for ways to better manage their logistics processes, transportation, inventory management, and quality assurance. Having a response-based business model is the practice of keeping low inventory to respond to changes in the marketplace.
This model helps in shelving the latest products and services while reducing product returns and spoiled goods, employing the latest technology, and providing the freshest food products. This model reduces dwell time (time that finished goods are idle and provide no value). To effectively manage this responsive supply chain, companies must monitor their suppliers and share information internally and externally. The faster critical information is shared with the supply chain network, the faster problems can be prevented and resolved. Sometimes, the problem is as simple as making a payment. However, increased globalization means the increased use of local currencies. Some countries do not accept payment from some banks, while some banks restrict the forms of payment or delay funds for days or even weeks. The global supply chain requires a global payment solution that is fully integrated into the supply chain risk monitoring solution.
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StreamPay is an enterprise supply chain risk monitoring and payment tracking solution that uses blockchain smart contracts to manage suppliers and finished goods. StreamPay technology keeps distributed ledgers to create articles to insert into smart contracts so supply chain manufacturers, suppliers, vendors, logistics companies, and customers can track goods and services from the raw materials to the finished product using QR codes and digital signatures.
StreamPay gives companies the ability to monitor their supply chain to determine whether it faces any risks. StreamPay features a risk index that alerts users on their dashboards to any supply chain problems that could arise. StreamPay manages quality assurance to ensure the finished goods meet the requirements the customers set. It also allows inspectors to issue certifications to suppliers and partners. Finally, StreamPay enables parties of a transaction to make policy decisions, and its smart contracts issue payments to suppliers when goods or services have been delivered, based on the terms of the smart contracts. The parties can pay in USD, euros, or cryptocurrencies, and the StreamPay wallet maintains the current local exchange rate. This provides users a worry-free payment experience, and users do not need to buy and sell cryptocurrencies to pay for small items.
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