BlockBill : The Blockchain-Powered Paperless Billing Solution
We aim to build a decentralized , distributed ( third-party ) billing system that stores the receipts of transactions on a Blockchain layer . This billing system is both tamper-proof and eradicates the paper-based billing system that is non-sustainable . Its initial scheme focuses on business segments of FMCG ( Fast Moving Consumer Goods ), which include food and beverages , personal healthcare and catering to Retail and Wholesale transactions . The main actors in this scenario would be Customers and Vendors , with a bulk of business being taken up by B2B ( Business-To- Business ) and B2C ( Business-To-Customer ) entities .
One of the main drivers of technology adoption is cost reduction , and in today ' s world , environmental sustainability is increasingly becoming a key factor in adoption decisions . Any organization ’ s management will start to see an operational expense line that any financial expert would be happy to cut after you factor in the upfront and ongoing costs of the printers and the energy needed to run them .
Branding is essential and enhancing sustainability performance builds brand strength . Customers consider a brand ’ s corporate sustainability reputation and initiatives when making purchases . While consumers may not be prepared to pay extra for environmentally friendly products , they are more inclined to buy products from brands that practice more social responsibility .
When we reuse or recycle paper , we often believe we are acting ethically . However , the chemicals in thermal register receipts make paper receipts non-recyclable and introduce phenol into the remainder of the stream , contaminating food and water sources .
Receipt sorting can be done quickly and accurately using paperless digital solutions . Permissioned access to receipts can offer a better security level in large businesses than putting them away in a room or filing cabinet .
The existing current digital solutions are centralized ones . One of the principal concerns about adopting centralized digital receipt systems is data misuse and cyber security ; this is where our solution gains an edge as the product being implemented on Blockchain ensures Transparency , Enhanced Security and True Traceability .
To the best of our knowledge there is no system that replaces physical receipts with digital ones using decentralized Blockchain Technology . If you opt for a digital receipt , in the existing systems , customers are asked to provide their contact details , which usually include email address ( es ), phone number / s , and / or snail address ( es ). Then centralized authorities store these in databases , allowing marketers and data brokers to connect a person ’ s identification with their particular activity by spreading their mail addresses to different companies . Digital receipts are " a cheap
Journal of Innovation 95