Blockchain-Enabled Trading and Trade Finance Platform
Trade finance is a highly complex process involving dozens of parties and documents. It is a paper intensive industry with significant overhead costs, and it is plagued with documentation discrepancies, delays in trade financing and the risk of fraud.The World Trade Organization (WTO) estimates small and medium-sized enterprises (SMEs) have $1.5 trillion in annual unmet trade financing needs and have 60% of their financing requests rejected by banks.Our custom built, blockchain-enabled, end-to-end global trading and trade finance solution addresses this unmet market need by joining forces with alternative lenders and private equity managers to provide financing to these SMEs that are underserviced by the banks. This shortfall has been caused by banks exiting the industry as their compliance costs and Basel III capital requirements increased.The platform brings all stakeholders (traders, lenders, insurers, shippers, etc.) to a trade transaction together – providing solutions through its module offerings that include trade finance, trade discovery, insurance, logistics and risk management. SMEs can pursue opportunities in trade and trade finance with more confidence and lenders can originate loans from anywhere in the world with more knowledge.In using the platform, trade processes are being digitized. This streamlines transactions, reduces overhead costs, enhances compliance, and reduces risk for its customers. It allows all parties to a given transaction to have complete knowledge of its status and progress. This brings the much-needed visibility across the trade chain and increased efficiency to the trade and trade finance processes.