The ModulTrade Value Ecosystem is essentially a bridge between blockchain technology and real-life trade transactions. So how do they do it? The platform is based on two essential, innovative technological implementations – smart contracts and the MoudulTrade Crypto token (MTRc).
First of all, ModulTrade Value Ecosystem (MVE) uses smart contracts to allow for credible transactions without the need for third parties. Smart contracts on the VME platform replicate Letters of Credit and Bank Guarantees, providing faster transactions, lower costs and better security. Thus, the use of smart contracts effectively eliminates the need for traditional finance instruments.
The further development of the platform would go in the direction of including third party service providers as active participants of the blockchain network. It could include services like insurance, logistics and shipment providers as well as trade financing lenders directly on the platform and in the end, make global trading an incredibly simple process for the end users – micro, small, and medium enterprises.
The ModulTrade platform would also include a Trade and Reputation network and marketplaces. The Trade and Reputation network would further facilitate transactions and collaboration by building trust based on reputation within the ecosystem.
Thus, the ModulTrade platform would be a completely self-sufficient system with the marketplaces allowing parties to find reliable partners across the world with unlimited choice and fair competition.
One of the areas where the ModulTrade platform could be further developed and utilized is Additive Manufacturing. Additive Manufacturing is something that many businesses are looking into in order to deal with manufacturing and supply chain constraints. The ModulTrade platform could provide a solution if a digital thread of the Additive Manufacturing process was created that would stretch from the initial design to the finished product. ModulTrade platform would easily provide solutions for validating data and protecting intellectual property and simplify the process tremendously overall.
So why ModulTrade? Well, let’s face it, the current global trade finance system just doesn’t work well. It supports only large corporations and large volume transactions and smaller business end up pushed out of the game. ModulTrade would change the game completely.
First of all, it will streamline global trade. It would really be a tremendous change the importance of which shouldn’t be underestimated. Using ModulTrade would almost completely eliminate the complex procedures necessary for cross-border deals, dramatically reducing the bureaucracy, the costs, and the time needed to find and connect with a partner.
Second, it ModulTrade would bring many benefits for micro, small and medium-sized business. Basically, anyone with access to the internet would be able to participate in global trade. Businesses would no longer need banks or paperwork to conduct trade, it could all be done with just a few clicks.
Finally, ModulTrade Value Ecosystem is a platform capable of providing new solutions when the need arises. By leveraging ModulTrade platform’s technological infrastructures, anyone could develop new fintech solutions.
For more visit: www.modultrade.io
Announcement Thread: bitcointalk.org/ModuleTrade