KRATOS: A Decentralized Physical Commodities Trade on Blockchain

seunola (0)(1)in #ico • 6 years ago

Cryptocurrencies is one of the most important inventions since the inception of the web. They are ushering in a new era of decentralization, privacy, and control of one’s own data that has the potential to revolutionize many parts of society. There are currently over one thousand cryptocurrencies in use, with hundreds more being released each year. Their combined market cap has grown from $10 billion in 2016, to over $400 billion at the time of writing, having previously been much higher. Only 1% of the world’s population own cryptocurrency. Companies involved with blockchain, the technology behind cryptocurrencies and altcoins are expected to experience significant growth over the coming years. Blockchain technology can solve dozens of previously intractable problems, like digital identities, supply chain integrity, data breaches and many, many more. The use of blockchain technology within society has been exponentially increasing since it was introduced to the world by Satoshi Nakamoto. The first use of blockchain technology was bitcoin. According to Gartner Insights, blockchain, the driving force behind the crypto market is estimated to grow in business value to $3.1 trillion by 2030. Blockchain is the fastest growing market in the world and the TOS token offers investors an opportunity to benefit from the growth in value. The age of blockchain technology is just beginning.

Before I proceed lets take a look at this video to know what Kratos is all about and how exactly does it work, Why do we need it, How will it enhance the international physical commodities trading industry, How will it ensure a more transparent transaction process.

PROBLEMS
Insufficient trust
The physical commodity trading process lacks transparency in terms of origin, quality and quantity of the ordered commodities as well as the shipment details. Hence, buyers cannot entirely trust their trading partners and end up involving mediators such as brokers, private investigators, and arbitrators etc.

Documents
Transactions may include a significant amount of manual administration due to discrepancies in documentation. Manual documentation is both time-consuming and prone to errors. Hence, manual documentation not only leads to a few weeks worth of delay of but also results in increased costs.

Quality assurance
Physical commodities require crucial quality assurance. But worldwide locations where most goods are commonly manufactured have very lenient supervision and security. Even documents can be easily altered. Given the lack of transparency in the system, quality assurance remains questionable in commodities trading.

Secured capital
Given the current market situation, SME's face challenges when seeking assistance from Financial institutions in obtaining proper funding for commodity trading. Despite having met the stringent economic requirements for trade finance and the due diligence check, SMEs are significantly less likely to receive funding of the same caliber as larger players because of the limited visibility and insufficient evaluation from potential financiers.

SOLUTION
By providing a decentralized commodities trading platform, significantly transforms and enhances international physical commodity trading across its whole product life cycle. Commodity trading challenges include insufficient trust, manual documentation, and unnecessary intermediaries. These problems often result in significant time-delays and high costs. KRATOS is an Ethereum-based platform that employs Blockchain Technology and Smart Contracts to address these challenges. As a result, the KRATOS platform delivers transparency, higher efficiency, and less complexity than any other existing system. The use of this platform would result in more timely deliveries and lower costs.
KRATOS has developed a Token Curated Registry process for trades submitted through its platform. Trades submitted on the platform for trade finance will be curated by token holders. The result of this curation process will be a list of high-quality trades, which will represent a subset of trades that may not otherwise receive funding. It would be difficult for other platforms to compete with Arkratos since it already has a functional MVP and has secured commitments for the use of its platform from multiple global commodities trading firms.

TOKEN DETAILS
Token name: TOS
Token value: 1000 TOS = 1 ETH
Total supply: 300,000,000
Pre-ICO period: 80,000,000
ICO period crowdsale: 85,000,000
Token type: Ethereum ERC-20

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