Business Crypto Number Use Between Companies
Throughout the life of your business, your company may be assigned many different identification numbers. If you’re a company doing business in the U.S., for example, you could have:
- EIN Number – Sometimes referred to as a Taxpayer Identification Number (TIN) or Federal Employer Identification Number (FEIN), a nine-digit Employer Identification Number (EIN) is assigned by the Internal Revenue Service (IRS) primarily for tax purposes.
Across the globe, governments and agencies also assign identification numbers to companies doing business within their borders. Like the U.S. EIN or UEI numbers, many of these identifiers are used for very specific purposes (tax preparation or contract bidding). In other cases, specific types of businesses are required to have an identification number.
The Business Crypto Number, however, could be the most widely used number your business ever has. That’s because it can be used not only by government agencies, but by every other business operating in the world.
Business Crypto Numbers are assigned to each location of a business. Once assigned, they are never altered. When and if a particular business location ceases operation, that number is never reassigned. It’s this uniqueness that companies rely on to help them perform their compliance due diligence or make credit or loan decisions.
With your Business Crypto Number, your company becomes searchable in the Business Crypto Score Data Cloud of more than 500 million global businesses.
Outside of the Business Crypto Score Data Cloud, your number can be used and displayed differently than it is within it. You may sometimes see your number displayed on company application forms with dashes, but those are just visual differences that may help to promote readability. There is nothing in a Business Crypto Number that says anything about a company’s stability or creditworthiness.
This difference in display does, however, illustrate that where or how the number is used outside of Business Crypto Score may vary. Here are a couple of examples that illustrate how different companies may use your Business Crypto Number for similar reasons.
Business Crypto Number as a Permanent Global Identifier
Revolutionizing Business Credit Scoring
Explore how Sendesta, Vukode, and Ziteso are transforming business credit through blockchain, smart contracts, and trade payment data.
Sendesta
Sendesta integrates blockchain with traditional credit scoring methods to provide a transparent, immutable, and decentralized credit system.
Key Features:
- Data Aggregation: Collects data from public blockchain transactions, supply chain payments, and trade history.
- Smart Contracts: Automatically allocates credit based on real-time blockchain data.
- On-Chain Validation: Ensures accurate, tamper-proof data for credit assessment.
Benefits:
- Transparent and immutable data.
- Instant credit allocation with smart contracts.
- Global accessibility to businesses regardless of location.
Vukode
Vukode focuses on integrating trade payments with blockchain technology to offer dynamic and real-time credit scoring based on transactional behavior.
Key Features:
- Trade Payment Data: Includes payment history, invoice settlement times, and B2B transactions captured on-chain.
- Dynamic Credit Scoring: Evaluates businesses based on payment behaviors, financial indicators, and recurring payment patterns.
- Smart Contract Integration: Automates credit issuance as businesses reach defined thresholds.
Benefits:
- Reliable, verified transaction data.
- Real-time adjustments to credit limits based on payment behaviors.
- Cost-effective credit issuance by eliminating intermediaries.
Ziteso
Ziteso offers a decentralized business credit ecosystem by combining blockchain-based data, trade payments, and off-chain data for a comprehensive credit score.
Key Features:
- Data Integration: Combines blockchain transactions with off-chain sources such as tax filings and bank statements.
- Real-Time Scoring: Machine learning algorithms provide dynamic and accurate credit risk assessments.
- Automated Credit Issuance: Uses smart contracts to issue capital based on real-time credit assessment.
Benefits:
- Comprehensive assessment using on-chain and off-chain data.
- Instant access to working capital and trade credit.
- Complete transparency with blockchain-based credit assessment.