Blockchain can make invoice financing secure and safer for MSMEs
Technology for MSMEs: Blockchain has the potential to improve security, enhance efficiency and reduce costs when it comes to receivable financing. This could particularly be good news for MSMEs that face significant hurdles in accessing credit. Let us see how. Improved security As per RBI, online fraud cases amounted Rs 128 crore to businesses in the year 2022. An increasing trend that is seen is smaller businesses are frequently becoming the target of cyberattacks as they cannot afford comprehensive security solutions. Here blockchain can help these businesses as it involves decentralised transaction records, so the data cannot be manipulated for any fraud.