The DFINITY Foundation today announced a strategic partnership with InvoiceMate, a blockchain and AI-powered invoicing platform. InvoiceMate is set to migrate from Hyperledger Fabric to the Internet Computer, with the DFINITY Foundation providing support during this transition, the company said.
InvoiceMate facilitates financial inclusion for SMEs by granting them access to various forms of credit, including invoice discounting, factoring, Buy Now Pay Later (BNPL), and supply chain financing. The platform has already processed over $114 million in invoices and formed partnerships with nine financial institutions, totaling over $5 million in locked lending allocation.
In addition to migrating to the Internet Computer blockchain, InvoiceMate will collaborate with the DFINITY Foundation to enhance the ICP ecosystem. The InvoiceMate team will serve as advisors and mentors for other enterprise blockchain projects, conducting workshops for enterprise blockchain organizations and universities interested in exploring the Internet Computer.
Their tech arm, MateSol, will act as a development shop, supporting projects seeking to integrate ICP into their operations, aiming to drive enterprise adoption for the Internet Computer blockchain.
Muhammad Salman Anjum, Chief Mate at InvoiceMate, emphasized the benefits of the Internet Computer’s trust, efficiency, and scalability, stating that it enables the use of invoices to aid SMEs in accessing credit in a decentralized and tamper-proof manner.
This partnership further solidifies the Internet Computer’s presence in the region. Recently, the ICP.HUB GCC was established in Dubai, focusing on educating developers, incubating projects, and building blockchain use cases for corporates and governments. The ICP.HUB GCC also facilitates collaborations between the DFINITY Foundation and local enterprises.
The Internet Computer is a layer-one blockchain that operates as a Cloud 3.0 platform. It has been running for over two years without any downtime, processing more than 750 million daily transactions, marking a 425% increase from its first year. Notably, the Internet Computer is the only blockchain capable of hosting social networks and enterprise systems, providing an alternative to legacy IT infrastructures dominated by Big Tech’s centralized cloud services.