mintBlue enhances e-invoicing security with new integration

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Automated identity verification and control now available for Visma | yuki and others through collaboration with the Chamber of Commerce.

Amsterdam, 20th Feb 2023 – mintBlue, a Blockchain-as-a-Service (BaaS) platform, announced a new integration in collaboration with the Chamber of Commerce for accounting platforms such as Yuki. With a connection to the public blockchain via mintBlue, Visma | yuki has already taken its first steps last year towards a fully secure invoice processing and payment process, automatically verifying the authenticity of invoices and receipts. The latest integration with the Chamber of Commerce allows automatic verification of the identity of senders and recipients of invoices, which improves the efficiency, transparency, and reduces the risk of fraud in e-invoicing.

At Visma | yuki, we have taken a critical step to give our customers more reassurance about their invoice processing flow. The new integration allows us to indicate with higher assurance that an invoice is secure. In a time of regulation changes for privacy, security and ownership, we were very impressed with how easy it was to embrace innovation and advance our e-invoicing technology through mintBlue. Immutable storage and automation of identity-verified invoices is critical to fraud reduction and the future of e-invoicing. We are very excited about this solution and look forward to the growth of the ecosystem., said Jeroen van Haasteren, CTO of Visma | yuki.

E-invoicing on the public blockchain in Universal Business Language (UBL)

With the use of mintBlue’s Software Development Kit (SDK), invoice processors can publish their invoices on the public blockchain, giving them full control over their data and eliminating the need for third-party dependencies. The public blockchain, as a continuously accessible database, enables users to quickly verify the authenticity of incoming invoices and the identity of senders. Paper receipts can also be easily processed on the public blockchain, where they are automatically verified and processed.

This collaboration showcases the scalability of our SDK and its ability to bring tangible value to organisations and businesses. We are proud to collaborate with Visma | yuki to make e-invoicing more efficient, secure, and future-proof., says Niels van den Bergh, CEO of mintBlue.

Since April 2019, the Dutch government has mandated the use of Universal Business Language (UBL) for invoices. However, despite the requirement, only 20% of businesses have adopted it. As new regulations come into effect, this could pose a problem for businesses that are not yet prepared to adapt. Currently, almost half of people only send a PDF or a paper format when invoicing. The lack of UBL data means that each invoice must be accurately recreated. mintBlue’s SDK can provide an immediate solution by offering invoice processors access to a digital UBL invoice stored on the blockchain, thereby reducing the risk of errors and fraud and enabling faster payments.

The ecosystem

The collaboration between mintBlue, Visma | yuki, and the Chamber of Commerce presents a new opportunity for creating a secure environment for invoice processing. By connecting various parties on the public blockchain via mintBlue, invoices can be safely exchanged between different parties and processed automatically, minimizing the threat of fraud.

For complete security and automation in invoice processing, it is essential for more companies to implement the blockchain in their invoicing software. This will ensure that each invoice has encrypted digital variant that can be retrieved from the blockchain, providing constant authenticity, stated Nick van Schijndel, Country Director Netherlands of Visma | Yuki.

About mintBlue

mintBlue was founded in January 2022 and since then its mission has been to empower individuals and organisations to take absolute control of their data. mintBlue is a Blockchain-as-a-Service (BaaS) platform that provides an incredibly easy to use code base for adding blockchain features and benefits to existing infrastructure. The platform’s blockchain development suite removes the complexity of blockchain technology so that organisations can focus on their own solution and business logic, instead of investing resources into building it from scratch. mintBlue specialises in fully compliant, patent-protected blockchain technologies and works with professional data centres. The technology has been endorsed by multiple universities as the best option for implementing blockchain. In fact, the Central Bank of Norway has determined that mintBlue’s underlying blockchain protocol is the most suitable option for a national digital currency, and can handle more transactions than all other operational blockchains combined. mintBlue’s international reach currently provides enterprise services across Europe, and is accessible globally. Those services include immutable storage, eInvoicing solutions, document authentication, data provenance, and more.

About Niels van den Bergh

Niels is one of The Next Web’s top 500 most talented tech talents under 30 in The Netherlands, and has 10 years of experience in both digital marketing and the tech industry. Before founding mintBlue in 2022, Niels worked as Head of Growth at Growth Mechanics, for clients such as Google, MAN, WERK1 and YUNUS. After this experience, Niels worked as a strategic advisor for Dyme, a PSD2 open banking app. Niels became familiar with blockchain while doing research to serve his innovative clients with a tailored accelerator program for this new technology. Doing research it became clear to him that much of the industry is a smokescreen, and the technology was immature and not ready for commercialization. After analysing hundreds of projects, he concluded that the original blockchain technology, invented in 2008, was capable of handling everything it claimed. This empowered him to delve deeper and eventually create mintBlue, a platform that enables enterprise organisations to easily build value-add solutions with blockchain. 

About Visma | yuki

Visma | yuki is a supplier of book keeping software for accountancy firms and SMEs in the Netherlands and Belgium. Since 2007, it has been our mission to make bookkeeping smarter, simpler and more fun with the help of our highly automated online accounting platform.  Our smart software solutions help our customers to digitise and automate their work. For example, by simplifying the submission of receipts and invoices, by fully automating the recognition of documents and providing 24/7 access to up-to-date financial figures. This is how we alter innovation and intelligence into convenience. With the Yuki platform, accountancy firms and SMEs create more efficiency, insight and decisiveness. This is how Visma | yuki adds color to the world of accountancy.

Yuki, Bright accounting.