ModulTrade: The democratized Global Trade Platform
Introduction
The economy of a country is said to be dependent on the multinational corporations, but, any country's economy is directly dependent on the health of its small businesses. They are a major contributor in the GDP of a country. A country needs to trust and support them. They are everywhere and into every business. The multinational company on the opposite side have better access to capital and human resources.
Small business Enterprises lack traditional methods of funds and government support. The key problems faced by the Micro, Small and Medium Enterprises can be categorized into the three parts.
- Lack of trust: It is one of the biggest problems faced by the MSMEs. There is a lack of trust among banks and institutional bodies. They avoid granting a loan to MSMEs. This lack of trust creates a problem for MSMEs as they cannot raise funds with institutional bodies and have to choose private means for the fund generation. The banking system has various trade finance instruments such as a letter of credit and Bank Guarantee. But, they are made available to exporters and importers of mid-range to high range. The small-scale business is not given priority.
- High Entry Cost: The cost of financing a business is huge for small business owners as the procedure is tough and long. The add-ons of trade financing are hugely discouraging and costly. There is a number of other factors such as dispute resolution and scale which play a key role in the business operation.
- The complexity of trade-related Operations: There are still multiple licenses and clearance which need to be taken care of before starting the business operation. While this may be superbly easy for the MNCs, it is quite difficult for the small business owners who have generally tough time dealing with it.
There is a need for a platform to cater to the 400 million MSMEs of the world. A platform where they can meet, trade without hassles, get help with their trade in an easy way.
Solution Offered
ModulTrade is proposing a solution to meet all the demands of B2B businesses. It is creating a platform where MSMEs can meet, trade, and execute the Smart contract. They are also offering ModulTrade token (MTRc), a means for value exchange on the ModulTrade ecosystem.
It also provides an innovative platform for third-party services such as brokerage services, logistics, trade financing, insurance, compliance, legal etc. ModulTrade Value Ecosystem(MVE) has following components to facilitate a better trading environment for all the participant.
- Blockchain-based Smart contract Multi-sided platform : It is a service similar to bank's Letter of finance. This service is cost effective and easy which helps in doing business. The Purpose of using Smart contract is to create a trust between buyer and seller. The amount will be only released when the value has been exchanged between buyer and seller. This is a blockchain based platform offering all the third party services mentioned above.
It only aims to simplify the process of doing business while offering them all trade-related services such as insurance, financing, brokerage etc. at low cost.
- Marketplace for trade : MVE provides clients and business partner across the globe. The whole world is a marketplace. Traders can do business with the clients of their choice. A reputational network exists on the MVE ecosystem which helps in the trade financing. Funds and guarantees are granted on their reputational capital for 30 days. Every MTRc holder can participate in the MVE for trade facilitation and related services.
While ModulTrade provides the innovative platform for b2b trade, it also aims to build capabilities for global trade for MSMEs. The technology of ModulTrade is reliable and trustworthy which creates effective trade environment for buyers and sellers.
ICO Information (https://en.modultrade.io/)
They are planning token sale for the public in which a total of 100 million MTRc tokens will be available. The exact date is 28th November 2017 for their ICO and the public sale is now open.
Their Token price is set at 1 MTRc = 1/700 ETH. The Payment is accepted in ETH, BTC, LA, fiat currency. Their motto is democratizing the global trade with blockchain technology.
Team
The founders of the ModulTrade platform have decades of experience in the business consulting, Trade operations, banking, structured finance, lending, product development, and supply chain system. They have worked in the top global banks for many years. Their experience in business and technology has formed a solid foundation for the ModulTrade Platform.
They have an experienced and balanced advisory panel which consists of people like Kelvin Tan and Bernard Lietaer, who is known for his works on the currency system in Europe.
Why Should You Buy?
They have been selected as the top 20 most promising Blockchain technology solution providers of 2017 by the CIO. Their experience in the field is enough to generate trust among people to invest in the platform. They have garnered favorable support from trade and finance industry as well as Micro, small, medium enterprises. We believe ModulTrade will be able to fulfil its mission of democratizing the Global trade based on blockchain technology.
Visit:
Website: https://en.modultrade.io/
Whitepaper: https://en.modultrade.io/ModulTrade_White_Paper.pdf?v1
Authored By: Etheran
Btalk profile: https://bitcointalk.org/index.php?action=profile;u=1108165