Reconciling Blockchain Transactions with Invoices

The issue of reconciling blockchain transactions with invoices has become a pressing concern for Web3 teams. Lars Holdgaard, founder of Debitura, notes that while crypto transactions can move across borders in minutes, invoices may remain unresolved for months.

When a customer points to a transaction hash as proof of payment, the supplier may disagree due to issues such as the wrong token, amount, or address. Both parties can have legitimate blockchain records, yet still be at odds over the debt.

To resolve this issue, Holdgaard recommends maintaining two connected records: one for the commercial obligation and another for the attempted settlement. The commercial record should include details such as the customer's legal name, address, and decision-maker, as well as proof of delivery or milestone acceptance.

The settlement record should capture network, token contract, sending and receiving addresses, transaction hash, timestamp, token amount, and relevant fees. By reconciling these two records, Web3 teams can identify potential issues such as late payments, short payments, billing disputes, or security incidents.