Barclays Bank’s head of innovation, trade and working capital is behind a new start-up that aims to use blockchain technology to drive ethical sourcing by providing access to faster and cheaper working capital through supply chain finance. Shona Tatchell is running halotrade within Barclays’ own fintech incubator.  Halotrade has yet to open for business, but says its solution “provides complete and cost-effective end-to-end transparency of supply chains through technology that brings together secure, immutable and instantaneous certification with supply chain financing.”
Halotrade aims to build a multi-user user network to incentivise suppliers to open up their systems and practices to enable favourable financing to ethical producers. Certification of production processes and premises are recorded on the blockchain and producers participating in the system are rewarded for ethical labour practice compliance with faster and cheaper working capital.