Topic: [ANN][PRE-ICO] 🚀🚀 ModulTrade : The Freedom To Trade 🚀🚀 - page 220. (Read 91965 times)

Thank you! Valid points

1. Given that ModulTrade' concept is based on the open ecosystem/platform we are trying to create a synergy with "real" similar projects (for example we work to partner with Monetha).
you are right that most of the projects fail and some are just not real. meaning there is no really good one in Trade Finance which you ready to work with or invest. unless you are targeting Alibaba.

why is ModulTrade different?
- concept - an Open ecosystem for end-to-end service of B2B trade cycle.
- the core - MT platform - we offer Letter of Credit and Guarantee on Smart-contracts. there is no similar product offer from new ventures (at least for now)
- team - we came from the Trade industry and have contacts and support to launch ModulTrade product. 
- working prototype - it simply works. you may try it on our site

2. ModulTrade tokens allocation leaves only 15% to the team (with 2 years deferral) and 3% to Advisory
the rest is distributed and goes to ecosystem development.
in particular one of the main benefit ModulTrade will offer to its customers is
Trade Financing in MTRc to enable small business to start buying on MT platform. and you may know that financing is the biggest challenge for SMEs in trade and we help them here.

happy to comment in details on ModulTrade product features

Best!

I am sorry to say that, so far, there are a lot of failed projects:


1- There are several projects trying to do something similar, in order to differentiate yourself from competitors, you should’ve provided side by side comparisons to competitors and explain why each of your features are superior.

2- ModulTrade’s token allocation shows that you are among the greediest teams around

Hello harryb. Thank you for your question.
Let me picture some example.
For instance, let’s take trade data, which serve as the backbone for the trade finance workflow: the approval and matching of data found in trade documents such as invoices can be a trigger for events that follow, such as the transfer of ownership or execution of a payment. By facilitating easy access to data and end-to-end transparency of the entire value chain, crypto technologies can facilitate an improved exchange of trade information. The real-time visibility of events along a supply chain means that financing triggers can be identified sooner, which means that funds can be released faster. Also credit ratings and risk assessment procedures could benefit from a better availability and auditability of trade data. Abstracting from trade data, with a blockchain based trading platform in place and a cryptocurrency properly designed for the purpose, it would be possible to build a value ecosystem, with features to support applications that third parties could build and that are yet unimagined: Ethereum ecosystem docet. Some of the most imaginable use cases which could stem from a value ecosystem for trade finance include, for instance, supply chain digital tracking, a blockchain-based Digital Thread for Additive Manufacturing (DTAM) underpinning all the transactions occurring throughout the digital and physical life cycle for additive manufacturing and trade finance solutions based on IoT-generated data.

Thank you!

What is ModulTarde market?

1. over 400 mln micro and small enterprises worldwide
2. exponentially growing B2B e-commerce - over 7 times to >$7,0tr by 2020

3. unique data of global SME trade -> new efficient supply chains (and here is the main value of ModulTrade)

Modul Trade Data monetization is very interesting topic to discuss

Yep! I think that currently the root of the problem lies in the lack of trust between counterparties who don’t know each other. The typical solution is a letter of credit or other bank guarantees, that is costly and that involves a daunting process. Typically:
- After negotiation, buyer and seller sign a contract.
- Buyer's bank supplies a credit letter to seller's bank, which guarantees seller will be paid whether certain conditions are met.
- Seller gives goods to a carrier and receives a bill of lading.
- Seller provides the bill of lading to its bank and receives the payment.
- Bank gives buyer the bill of lading, so that he can present it to carrier and receive goods.

My understanding is that the blockchain can really help here as smart contracts could be used to replace this time-consuming workflow process. And at a lower cost. How much could the process be sped up with a blockchain platform solution? And how much could a business save on average?

Hello everyone in this thread!

I would like to dwell a little on the practical application of blockchain in cross-border trade.
Why are we going to use blockchain? May it help?
All these are purely life case issues.

So let's take a zoom on some problems experienced by various actors and the ways to address them.

Blockchain can be useful in situations where participants would like to reduce their dependence on an intermediary service provider (e.g., banks, central securities clearing house) and have their trust in counterparty they deal with. Problems arising from the abuse of trust, such as fraud, have significant negative impact on business and trade: the global financial cost of fraud is estimated to have been more than $4 trillion in 2016.
(Gee, J. & Button, M. (2017). The Financial Cost of Fraud 2017. Available at: https://www. croweclarkwhitehill.co.uk/wp-content/uploads/sites/2/2017/02/crowe-the-financial-cost-of- fraud-2017.pdf)

Blockchains hold the promise of reducing the trust gap by making actions within the system independently verifiable by each participant and accountable through the public auditing.

Blockchain helps to build secure value transfer system which is very much needed while dealing at international level. Based on consensus mechanism the payment turned to be a completely decentralized activity which is triggered through smart-contract execution. Hence the seller account is credited once the conditions are fulfilled accordingly and couldn't be intervened from outside.

I believe the above plays out to be handy and definitely considered by ModulTrade.

As far as I know, these are the estimates of the market size:
- The global e-Commerce market is worth US$7.7 trillion according to Statista.com (https://www.statista.com/study/44442/statista-report-b2b-e-commerce/ )
- 6.7 Tn by 2020 for the global B2B E-commerce market according to frost & Sullivan (http://www.frost.com/ma4e)
- The BIS Committee on the Global Financial System estimates that trade finance directly supports about one-third of global trade and that that, globally, a flow of some US$6.5–8 trillion of bank-intermediated trade finance was provided during 2011 (http://www.bis.org/publ/cgfs50.pdf)
HTH

Hi,
Thank you for challenging!

1. Is there a Problem?
the only way for millions of SMEs to survive and compete in the current world is to be involved into Global value chains (you may find more in the WORLD BANK 2016 report  https://www.wto.org/english/res_e/booksp_e/world_trade_report16_e.pdf)
So there is a need from over 400mln SMEs to start trade globally.

Before such solutions were simply impossible due to the size of SMEs. Banks simply did not want or were not able to help them. 56% of SMEs trade finance proposals are rejected by banks, compared to only 7% for multinational corporations. https://www.worldbank.org/en/topic/financialsector/brief/smes-finance

2. How can Blockchain help?

the thing is that Smart-contract is a natural replication of such banks' instrument like Letter of Credit or Guarantee. in short, before Banks guaranteed that Buyer will pay if Seller will ship the goods and banks charged 5-15%. Now, smart-contract can execute the same function at almost zero costs and there is no middleman (bank). for more detials you may check animation in the product section on our Project site https://modultrade.com/

3. Why ModulTrade?
Our team came from the Industry (including Tade Finance and transaction banking) and kind of creating a user interface for smart-contracts on blockchain that SMEs can use. and also integrating related services which SMEs need - to have end-to-end user experience in B2B trade (marketplace to meet, logistics, financing, payments, etc to execute the trade)

We deliver all in one solution to enable SMEs to trade globally and the core is a smart-contract on the blockchain.

Happy to answer further questions

Best!

I’m still scratching my head trying to figure out why a Blockchain is needed for SMEs?

And I think the business problem doesn’t really exist, isn’t significant enough and cannot be solved by a Blockchain. Though you try to make it sound like you do with lots of technical Jargon!

The market size is truly as big as the ICO claims and that the solution is possible. Evidence please?

All,

I am Karthik - one of the ModulTrade founders (CTO).


Thanks Pjames for a great question. EBay-Magento is a good comparison as far as our marketplace is concerned but we also offer banking/finances and other trading services like logistics, taxation etc to complete the transaction. We are a complete end-end platform for global trade.
 

As many of them might not be aware of the complexity of global trade, I thought I'll give a brief introduction to ModulTrade, Trade finance and blockchain so we can have a lively discussion.The entire team is committed to answering / clarifying all your questions and doubts. Please fire away. I also encourage everyone to try out our prototype which is available in modultrade.com

Regards
Karthik


Modultrade democratizes Trade Finance

Trade finance is the process, by which importers and exporters mitigate trade risk through the use of financial institutions that serve as trusted intermediaries. These intermediaries provide assurance to sellers (in the event the buyer doesn’t pay) and contract certainty to buyers (in the event that goods are not received).

Payment and delivery terms are documented in a letter of credit (LC), and the financial institutions delivering this LC receive fees for assuming risks, as well as for documentation and oversight of payment terms.  Due to the nature of global deals (distance, differing local laws, withholding taxes, customer knowledge) the use of LC has become a very important aspect of international trade. LCs facilitate 47% of global trade finance (circa  $2.8 trillion per year worldwide).

Yet, letter of credit is a cumbersome process. Banks typically require a pledge of securities or cash as collateral for issuing a letter of credit. Banks also collect high fees for service, typically a percentage (ranging from 5 to 20%)  of the size of the letter of credit. The drastic criteria for a bank to issue a letter of credit, as well as the high cost of it make it difficult for small and medium enterprises (SMEs) to be included in this process . Half of SME applications are rejected, (compared to only 7% for multinational companies). “Unmet demand for trade finance is $700 billion in Asia, and $120 billion in Africa.”

ModulTrade is a platform based on blockchain smart-contract (for the automation of the letter of credit) where MSMEs can participate easily to the trade finance processes : Letter of Credit, deal financing, tax management, … etc..


ModulTrade’s Value Ecosystem (MVE) is based on MSP (multi-sided platform) , which aims to create value ​through ​the ​network ​effect ​for ​the ​following ​three ​main ​constituents:

Trade counterparties (sellers and buyers), delivering to them a platform of trust and reputation, simplicity of trade and an instrument for value exchange and trade initiation (i.e. Modultrade Coin or MTRc) . Modultrade is this global ​marketplace ​where ​trade ​services ​meet ​trade participants.

Third-party trade related service providers (e.g. supply chain providers, lawyers, tax officers, financial institutions and fintechs, ...etc.). These providers meet on modultrade open platform to contribute to the trade service of counterparties.

Third-party ​trade ​software developers, delivering trade solutions on top of MTRc functionality.

At Modultrade, we use the three key features of blockchain to simplify trade finance:

(1) cryptographic security, allowing parties involved in trade to collaborate easily and cost efficiently,
(2) distributed ledger and network allowing transparency, traceability and global footprint 
(3) consensus mechanism providing trust among the deal participants:

Together, these features provide the foundation for building a new generation of a “democratic”, trustful and efficient trade finance system. In this new hassle free system, SMEs, which are the main components of local modern trade, can expand and  take part in global trade.

Hi,
I am Evgeny - one of the ModulTrade leaders (CEO)

Why is ModulTrade different?

I. ModulTrade monetizes the need of 400mln SMEs to start trade globally
1. ModulTrade is starting to use blockchain for the real B2B trade (small Constructor from Italy buys paints from Poland)
2. ModulTrade replicates bank instruments on blockchain (Letter of Credit and Guarantee) at almost zero costs, vs.5-15% charged by banks (SMEs gets secure mechanism for payment and delivery)
3. ModulTrade solves all SMEs trade-related hassles (ModulTrade and 3rd party provides financing, payments, logistics, insurance, etc )

II.
Working Prototype is on https://modultrade.com/

III.
ModulTrade team is experienced in Trade Finance and Technology and supported by world industry leaders like Bernard Lietaer

Will be happy to answer other questions.
We will publish a Q&A soon

IMO :
1 - guys solve real problem for the huge market
2 - have MVP ready
3 - team seems to be experienced with the technology and marketing
4 - product is well explained

You are welcome, I am the bounty manager.

https://bitcointalksearch.org/topic/bounty-thread-modultrade-up-to-1000-eth-to-share-neww-2240533

Hi Sir!

here is the link to Bounty https://bitcointalksearch.org/topic/bounty-thread-modultrade-up-to-1000-eth-to-share-neww-2240533

Disclaimer:
I am the bounty campaign manager of this ICO, I am not part of the founding team. I am not responsible for any word posted below.
Dafar.