Warehouse receipt fraud is a huge problem because a financier has no way of knowing if the receipt has been used multiple times to finance the same collateral. CollateralCheck solves this problem and is quick, easy - and free to use.
Who Is CollateralCheck For?
Any bank can simply enter basic warehouse receipt parameters to perform an initial check - in less than 30 seconds. Collateral Managers can also use the tool to validate the receipts they issue and reduce liability.
How Does It Work?
Using blockchain technology, CollateralCheck keeps transaction data anonymous whilst also providing information on whether an warehouse receipt is potentially fraudulent or being double financed.
How Is Data Protected?
CollateralCheck does not rely on a central registry – data is protected from potential competitors and is tamper resistant once on a decentralized blockchain.