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ModulTrade is setting out to change the way the world does business. It wants to make it fairer, more transparent and free from the choke hands of banks.
ModulTrade CEO and co-founder, Evgeny Kaplin, announced the launch of their token pre-sale on 4th of October at the IOT Summit in Barcelona, and immediately started to attract attention amongst Token sale participants: the reason perhaps has a lot to do with the fact that the ModulTrade team are using the power of blockchain technology to break open the closed world of trade finance. A world where small and medium sized businesses pay hefty fees to sell goods and services across borders.
For the average consumer, the world of trade finance barely registers, but it does impact them in higher prices and less choice. In its go to market strategy, ModulTrade set out to highlight the inequality of the current system: how letters of credit and other financial products designed to mitigate counterparty risk are, in fact, adding significant cost and wastage into the system and are redundant in a blockchain grounded world. The ModulTrade vision is built on one of trust, and a viable, cost efficient business model, where companies can transact and trade using tokens in a eco-system branded the ModulTrade Value Eco-system (MVE).
The MVE acts like a network linking buyers and sellers where each party can understand the capacity of each other to pay for a product. Trust is reinforced by token holdings and performance ratings. Smart-contacts act to underpin the transactions and to track the shipment of products. It is clean, it is elegant (in its design) and can be understood without calling your accountant; the business interface has been designed to work across desktop, tablet and mobile, so presents as an easy to use intuitive system that works around the needs of the small to medium sized business enabling them to chart a pathway for growth without incurring punitive costs or risk.
The team, who met at MIT, are as confident in their eco-system design as in their capacity to deliver it. Experience working for blue chip firms such as McKinsey, Cargil, Telefonica and over a decade in major financial institutions in trade finance, means the team can avoid the bear traps of poor implementation and project drift. Working as a unit, disciplined in the act of the possible and the need for delivery, they are already in discussions with suppliers and buyers in sectors such as the construction and fashion industry. All in all, they are certain of their ability to transform the supply chain.
Commenting on the platform, Kaplin said: “We are passionate about giving all businesses, no matter their size or location, the same opportunities to build, develop and grow their companies akin to big corporations.
Our proposition aims to increase accessibility and minimise costs, and with smart-contracts and blockchain technology, we can mimic traditional banking systems, but at a transaction fee of as little as 1%; compared to current charges of 4-15%. Through our token sale, we want to empower small to medium enterprises worldwide. We also want to encourage as many people as possible to engage in the debate around making it easier for business to do business.”
This positive approach and willingness to share outlook and financial assumptions has further helped demystify an opaque area of financial services and helps those individuals looking to conduct due diligence with the facts to support the decision-making progress.
As a proposition, ModulTrade have set out to build infrastructure that will work, challenge the status quo, and ultimately replace it with something better. As a business, it is built not on chasing the quick buck, but to endure and provide token holders with a continuous flow of trade that builds long term value and demand side liquidity.
Over the next couple of weeks, ModulTrade will continue with its pre-sale offering MTRc, the ModulTrade token architected on Ethereum, with up to 10mln MTRc available during this period. Followed by a further 40mln during the main sale, and a soft cap of 15,000 ETH.
To find out more about ModulTrade and to participate, visit https://modultrade.io
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