Procurement on PYRAX
Procurement manages sourcing, purchase orders, and supplier payments - a high-value flow riddled with fraud, maverick spend, and slow three-way matching. Buyers and suppliers each guard pricing while needing to agree on terms. PYRAX automates purchase-to-pay with verifiable milestones and keeps negotiated pricing shielded from the rest of the market.
The market
Source: Gartner / Fortune Business Insights, 2024. Figures are indicative and provided for context.
What's broken today
How PYRAX transforms it
Concrete network elements mapped to this business.
Multi-VM smart contracts
Purchase orders become executable contracts that enforce catalog pricing, approval thresholds, and payment terms, eliminating off-contract maverick spend at the source.
On-chain escrow with automated three-way match
Funds escrow at PO issuance and release only when a verifiable goods-receipt event matches the PO and invoice, killing duplicate and ghost invoices.
Shielded-by-default transfers
Supplier settlements clear with the negotiated price hidden, so a buyer's rate card cannot be reverse-engineered by other suppliers on the same network.
Viewing keys for auditors
Internal audit and tax authorities receive scoped viewing keys to verify spend against contracts without querying every supplier's confidential pricing.
eth_getProof verifiable receipts
Goods-receipt and service-completion events carry proofs that back accrual accounting and dispute resolution without re-collecting evidence.
Buildathon: dApp ideas
Ship-ready concepts for procurement on PYRAX.
MatchPay
01Automated three-way match that releases supplier payment on verifiable PO-receipt-invoice agreement.
CatalogLock
02Contract-pricing enforcer that blocks off-catalog and over-threshold purchases at issuance.
RateShield
03Confidential supplier-pricing vault settling POs with shielded unit prices.
VendorPass
04Reusable supplier KYC/onboarding credential portable across buyers.
SpendProof
05Real-time spend-under-management dashboard backed by verifiable transaction proofs.
BidVault
06Sealed-bid RFQ where quotes stay shielded until the award, preventing collusion.
SupplyScore
07PYRAX Compute supplier-risk scorer producing a verifiable risk rating from performance proofs.
AccrualLedger
08Automated accrual and month-end close from committed goods-receipt milestones.