SAP executives try to solve problems of sending money quickly overseas. As part of a pilot project, SAP is offering its customers to use tokens on test networks of Etherium. Users will receive “play money” and be able to pay a test account to “assess how fast, affordable, and reliable international payments can be.”
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“Today’s cross-border payments are a problem for many small/medium-sized businesses and their international business partners. Payments are expensive – up to $50 per transaction, slow – up to seven days to transfer money – and not transparent: the status of the transaction is not visible. All of these problems can be solved by using blockchain-based digital money as a means of settlement,” says SAP product expert Sissi Ruthe.
SAP has previously been involved
in the development of a blockchain-based project – the GreenToken platform was created to track palm oil shipments.